Understand This Human Behavior To Boost Sales

human behavior

What’s up ? This is THE stephane ANDRE !!! I watched an Olivier Roland’s video  and I learned some good stuff.

There is human bias that needs to get around to get your company up to the next level. What’s interesting with marketing is that it exposes human behavior. Marketing allows us to understand good and bad human behavior

Lazy

This one of the most common human misbehavior. Take the example of a registration page for online training. There are 200 prospects interested in this training who gave you their emails to know the start date.

You divide the prospects into 2 groups, group A and B. For group A (100 prospects), you ask them to write their first names and emails and click on the OK button in the form to register. For group B (100 prospects), their first names and emails are already pre-filled in the form, just check the information and click on the OK button. In group B, there will be about 10% more registration compared to group A.

Which means that in group A, there are about 10% of prospects who don’t have enough energy or motivaton to write their first names and emails in the form.

Honest

honesty

This is one of the most common good human behaviors. Take the example of a guarantee of 30 days without conditions satisfied or refunded. Technically, there are plenty of people who could benefit from this guarantee by saying : « I’ll use this product for 29 days and I’ll ask for a refund ». Of course, there are people who do that, but it’s always surprising to see that it’s a small minority. It’s something nice to see.

Psychology

Unfortunately, there are limits in honesty and it’s necessary to understand some human bias to have a good company. Otherwise your company is in jeopardy.

In a detective tv show, there is a perone who is looking for the best detective for his problem. The hero of this tv show is a detective.

The person sees the hero and says : « I did some research and you’re the best in your field ».

The tell him : « You did some research, but what exactly did you do ? ».

The person answers : « It’s simple, I went to see all your competitors, I asked them who was the best detective and they all said it was them. Then I asked them who was the best second detective after them and they said it was you, that’s why I realized you were the best ».

Did you see the human bias in this example ? When you ask a pro who is the best, he’ll answer you : « Me ! ». The pro does this because he wants to sell, he has his personal pride and maybe he really believes he’s the number 1 compared to others.

Which shows that it’s difficult to have the most objective answer possible with this question. By understanding this human bias, you can use a question that gets around that. This question is : « Okay, it’s obvious you’re the best but who’s second best after you ? ». In the majority of cases, the answer is objective.

Price

price

Let’s take another example. An entrepreneur conducts a survey with his prospects to determine the selling price of a product. The question is : « What is the price you would pay to buy this product ? ». If you ask your prospects how they want to help them, they’ll be honest but when you talk about the selling price, it become complicated. When you ask the question about the selling price, they will always tell you a lower price compared to the price they could pay.

There are 2 reasons :

  1. When a person ansers this question, she thinks : « If I tell him I’m willing to pay 100 dollars, he’ll sell it to me at $100. So, I’ll tell him $50 like that it will be cheaper ». It’s a behavior that all human beings do (me and you included).

  2. There are people who don’t know how much they would be willing to pay because they can’t see the product. When they see the product and see what it can improve in their life, they’ll decide whether to buy it or not.

To solve the problem of the 1st reason, ask the question this way : « As you’re one of the people who helped me to create this product, you’ll have a special price, but what do you think the price is that the rest of the world should pay ? ». With this question, the prospect knows that he is going to have a special price so he can give a more objective answer.

To solve the problem of the 2nd reason, there is only one way. It’s showing the product to prospects.

When you do a survey to prospects for the sale price, it’s very important that prospects understand that they’re going to have a special price. Ask the questions : « What price would you pay to buy this product ? » and «  As you’re one of the people who helped me to create this product, you’ll have a special price. But what do you think the price is that the rest of the world should pay ». You will be surprised by the different answers you will have. Test it !

Obviously, it’s not only with this question that you will determine your selling price, it will be just a clue. It’s very useful to understand human psychology otherwise you risk choosing a selling price really too low that should be and earn really less money.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

P.S. If you’re in Miami and you like Caribbean food, go to my cousin’s bistro to eat Haitian food, click here.

When Your Internet Company Is Not Working

internet company

I watched an Olivier Roland’s video  and I learned good stuff.

Here are some tips to improve your situation if you want to have an internet company or you already have an internet company. These principles are basically intended for infopreneurs, it means selling information products (ebook and online training) but over time all companies should use these principles to boost their reputations.

In an internet company, there are 3 pillars : traffic, authority and relation.

Traffic

This is the number of people who visit your website and your entire ecosystem (social media – instagram, youtube, facebook, snapchat, twitter, etc.).

Authorities

This is the way your audience sees you as an expert. You can be an excellent expert and not know how to communicate, so your audience sees your expertise at a level below your actual expertise. And it can also have the opposite situation where your audience sees your expertise at a level higher than your real expertise. In this case, you’re a crook !

Relation

This is the level where your audience appreciates you as a human being rather than a company.

Pillars check

What is interesting to do is to note where you think you are in the 3 pillars (traffic, authority and relation) from 1 to 10. « 1 » is the person who has just started and « 10 », is the person who is one of the best infopreneurs in the world like Gary Vaynerchuk  or Casey Neistat .

Don’t hesitate to ask people you know to have a more objective point of view. The ideal is a close friend who is really interested in your company and who understands what you’re doing. Ask this friend : « What rating would you give me between 1 and 10 ? Go ahead, be frank, you don’t need to spare my ego ! ». With an outside eye, it will help you find the problem.

Problems

problem

Perception

It’s possible that you have a huge traffic on your website but if people don’t perceive you as an expert who has enough experience to help them and they don’t like you (they perceive you more like a salesman as a human being), they will not buy your products and services.

Conversion rate

This concerns the conversion rate between your traffic and the people who sign up for your email list. People who sign up for your email list are people who are really interested in what you’re doing and who want receive the free gift you are offering (ebook or exclusive video). People who subscribe to your email list have given you permission to contact them through their email knowing they can unsubscribe at any time.

What it interesting to do is to note where you think to be in your conversion rate from 1 to 10 ? For example, when there are 100 people visiting your website, how many are subscribed to your email list ? If you rate is 0, you’re not offering any interesting gifts or you’re not making a call to action for your email list. In these cases, you have to work on it to offer a better free gift or tell people that they can sign up for your email list.

We must know that today, email remains the most effective way to contact people and it will remain so for a long time. Attention, that doesn’t mean that when you send an email thanking for the loyalty of your subscribers or a promotional email for a product/service, you shouldn’t also talk about that in your ecosystem (social media) with a video, a picture, a post on different platforms.

It’s important to know that if you’re doing content marketing and your company is based on the free content you create, you need at least a 5% conversion rate. If you do below that, you have work to do to improve your conversion rate.

Solutions

solution

Product/service

It’s possible that you don’t have a product or service to sell or like me at the beginning, I sold a product but there are only 5 people who bought it. In this case, you can do a survey with the people who are on your email list to find out what is the problem they would like to settle as quickly as possible. With this method, you’ll soon be able to create a profitable product because you solve the main problem of you audience. Attention, it’s necessary that you have 1000 people subscribed on your email list to make this survey.

Coaching

This is one of the simplest ways you can make money. It doesn’t matter if you have more than 1000 people on your email list. When we start an internet company, it’s the easiest thing to do. You offer your skills as a service to your audience. With a small audience, a good authority and a good relation, you’ll have people who will be interested to work with you by doing coaching sessions on Skype, for example.

Ebook

If you’re a person who likes to write (like me), you can create an ebook that you can sell between USD 17.- and 27.- to start earning some money.

Action

We could talk about this for hours because every situation is different. I don’t know your situation but by following these advices, you will be able to improve your company’s situation, so ACTION.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

The Right Time To Offer A Paid Product

paid content

I watched an Oliver Roland’s video  and I learned good stuff.

It’s necessary to think of 2 things :

  • How to find the right time to offer a paid product while usually everything is free

  • How to handle fear and criticism about a paid product while usually everything is free

The right time

the right time

The right time varies depending on the sale mode and type of product. The approach to proposing a product is different when you do a webinar, a product launch  or a sales page.

The easiest way to sell a product is to make a sales page because you don’t need to worry about the minimum subscribers number to have in your mailing list.

What is extremely important to understand is that you need to stop being obsessed by the number of subscribers on your social media (Facebook, Twitter, Instagram, Snapchat, Youtube, etc.) because it has not value. Let’s me explain, what is really important is the subscribers number of your mailing list (newsletters).

A lot of people have success on Youtube but unfortunately they need to stay on Youtube’s platform to keep their success. It’s really difficult to bring Youtube’s subscribers to another platform or another website. It’s even worse on Facebook because people are so used to the social media’s graphical user interface that they really have to give them an interesting reason to go elsewhere.

Survey

survey

Yes, with a survey you can attract all your social media’s subscribers to your own website. I advise you to do a survey when you reached 500 subscribers in one of your social media.

With a survey you can know :

Your audience reactvity

  • Your audience’s reactivity

  • What product wants your audience. This reduces the risk of creating an unsaleable product. The mistake entrepreneurs make is to create the product they want to do. For 1-2 years they work on it and when it’s ready, nobody wants to buy it because it doesn’t solve a problem of the audience.

When you reach 500 subscribers in one of your social media, you can say to your audience : « Hello, my friends, the community develops and it’s thanks to you. I would like to help you in a more efficient way that is why I propose you to answer a small survey where you’ll be able to tell me how I can help you to solve one of your problem ».

People who answer to this survey will show you the real reactivity of your audience. By exemple when you have 1000 subscribers, you have an average of 100-200 people responding to the survey.

The result of this survey will help you to create a product that will interest your audience.

Mailing list

Buid your mailing list (newsletters) is more important than having the maximum number of subscribers on your social media because they’re qualified potential customers. This what is make the difference between your subscribers who consume your content for entertainment and your subscribers who consume your content because it improves their lifestyle.

To build your mailing list (newsletters), offering an interesting free bonus to your audience is an effective way to collect qualified emails from people who are likely to buy your product. If you have no idea to make a bonus, you can make one by intuition and after adjust or change after conducting a survey.

eBook

By exemple if you have a Youtube channel or a Facebook Page about hamsters, by intuition you can imagine that the main problem of people is to ensure that their hamsters are well fed and long live. So you can write an eBook (digital book) like : « 5 tips for having a well-fed hamster and long live.

The concept is to offer something free in exchange for an email from someone of your audience. You really have to give something interesting so that people are : « Wow, it’s cool. I gave my email and I got it all ! ».

Criticism

criticism

I’ll be simple. All people who aren’t happy because you offer a paid product are supporters of slavery. Usually people aren’t aware of it. When you see a critic like : « It’s was great before, you offered a lot of free content and now you want to sell a product, it’s horrible ! ». What do you think ? Me I’m thinking of a person who wants me to work for him/her for free for life. And how do we name it ? A supporter of slavery.

Don’t be afraid ! You continue to give free content to your audience and in the same time your offer paid content. You don’t blackmail with your audience, your propose and people make their decision.

By having paid product that filter out people who recognize that your work deserves salary and people who are unconscious supporters of slavery.

Don’t worry, critics hurt at the beginnings but then it goes better and you gonna laugh at it.

-Steph

P.S. Smartphone apps :

To track my calories, I use MyFitnessPal 

To track my workout program, I use Jefit