Influence and persuasion are popular topics in consultative sales. Today it seems we often must have a good reason to make a business deal. There must be a need, but what really closes the sale? Scarcity may be the nugget you’re missing, especially related to your career.
Philosophy of Scarcity
There has been a lot of work on the sales process and the power of influence and persuasion. One of the front runners is Dr. Robert Cialdini, who is a leading authority on these subjects.
Dr. Cialdini, has included as one of six principles of persuasion the concept of scarcity. He is not the only person to study these concepts and many sales and marketing leaders live by the value of scarcity connected with selling.
Scarcity is a simple concept. The product or service is worth more or needs to be acted on now because if you don’t, you’ll miss the opportunity.
It is the road sign with, “Last gas for 150 miles.” or “Next rest stop 68 miles.” Suddenly, you’re considering your needs.
There is more spin off. The idea that the price will increase, there will be a rush on demand, or it will never be offered again.
In these cases, the value seems to increase. It’s an opportunity to close the sale and get good margin.
Scarcity should be important for everyone. It should be important for the commission sales person, the savvy marketer, and even for individuals who aren’t directly in the front-line sales process.
Because scarcity drives value it reinforces your need for skills. Not everyone is an Industrial Psychologist, not everyone is a Microsoft Certified Architect (MCA), and not everyone is a Certified Public Accountant (CPA).
While these occupational credentials may not be extremely hard to find, not everyone has them. As a result, businesses will pay more for their expertise.
When was the last time you considered the uniqueness of what you offer?
If you’re a commodity, easy come, easy go.
Dennis E. Gilbert is a business consultant, speaker (CSPTM), and corporate trainer. He is a five-time author and the founder of Appreciative Strategies, LLC. His business focuses on positive human performance improvement solutions through Appreciative Strategies®. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.