On this week’s Modern Sales podcast episode, I talk all about anchoring and how you can apply it to your sales. Check out the episode to learn:
- How anchoring works
- The personality types most susceptible to anchoring
- How anchoring applies to pricing
- How your value conversations can set an anchor against your price
- Why anchoring against your own price is so critical
- The real reason market prices might work against you
- To determine your client’s budget and use it as anchor
- Why throwing out the first number in a negotiation is a actually a good thing
- How anchoring can apply to dates and other aspects of your projects
I had a good time making this episode, and you can check out now here:
Quick note #1: if you enjoy the podcast, please send it to someone who would benefit from hearing it! I’d also love it if you left a review on iTunes.
Quick note #2: Yesterday I wrote about the anchoring rule that Tesla sort of violated with the Model 3. Funny enough, today they announced a huge quarterly loss, due at least in part to declining Model 3 shipments and orders at their lowest price point. Even though Musk’s master plan was to release a $30k car, there are two ways to read the lower-than-expected interest in it: 1) you can’t own a luxury car for $30k, and those who want one won’t purchase this model; and 2) promising a $30k car and delivering a $35k car is a big difference in price (17%). Which begs the question: who is this car for, anyway?