If you want to get paid [more] for what you do. I've got great news [for] you
You can make your customers value your product or service more just by changing the way you ask for the sale
I'm Derek Halpern the founder of Social Triggers the place where entrepreneurs and executives turn to learn how to get ahead in business and life
And today, I'll show you how you can persuade people to pay you more for what you do
Let's jump right in I recently read about some research conducted by Heidi Grant [Halverson]
Associate director of the Motivation Science center at the Columbia University business school her research reveals that there are two types of motivational focus
promotion focus and
prevention focus and
communicating with these people based on their dominant motivational focus can drastically impact how much they are willing to pay you for your
products and services
Let me explain promotion focus people tend to view their goals as opportunities to advance they think about games
Prevention focus people tend to view their goals as opportunities to stay safe and keep things running smoothly
They think about avoiding losses well in the experiment
Undergraduate students filled out a questionnaire which determines their dominant motivational focus in exchange for [$5]
After the questionnaire they are presented with a choice between two parting gifts a Columbia mug
or a disposable bic pen
Now if I minimize pull me back up they are asked to make that choice in one of two ways
think about what you would gain by choosing the mug and what you would gain [by] choosing the pen or
Think about what you would lose by not choosing the mug and what you would lose by not
Choosing the pen now pretty much everyone chooses the mug and after they do they are then asked
What do you think is the price of the mug?
It turns out when someone is asked to make a choice in a way that fits with his
Motivational focus he thinks the mug is worth up to 50% more
When promotion focused people were asked to make the choice between the mug and the pen based on what they would gain
They valued the get eight dollars and seventy eight cents
When they were asked to make the choice based on what they would lose
they valued the mug at an average of
6.30 two cents now on the flip side when
Prevention focused people were asked to make the choice between the mug and the pen based on what they would gain
they valued the mug in an average of five dollars
When they were asked to make the choice based on what they would lose
They valued the mug at an average of eight dollars and seven cents the impact of this research is huge
And you're probably wondering how you can apply it to your life and business well
Remember that even though we're talking about this in terms of selling products and services it also applies to persuading people to do anything
So if you know your husband is more promotion focused when you present a new idea to him
Focused on what he can gain and on the flip side if you know your boss at work is more prevention
Focused when you present a new idea to him focus on what he can avoid losing
and if you're like me
And you communicate with and sell to a lot of people at once via a sales page blog post
Webinars and the like you need to appeal to both types of motivational focuses
so if you're writing copy for a sales page of your new info product be sure to detail what your potential customers can gain and
What your potential customers can avoid losing by investing in your product do that and you'll get more sales sales that you rightfully deserve
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Then here's what I want you to do next first was this a new insight for you. Leave a comment
Letting me know how you plan on using this idea of promotion focus and prevention focus in your next sales pitch
Then I want you to send heidi Grant Halverson a tweet. Just tell her just heard about you from Derek Halpern at Social Triggers
I'll include a link to her Twitter handle below this video got to give credit where credit is due
See you on the next social triggers video. I feel [we're] [going] to make with a pen right now for some reason
hate pens