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"Speak for Yourself" - Karen's Short & Pithy Quarterly Newsletter

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By Karen Cortell Reisman

Scarcity impacts value. People become physically agitated when they watch something become less accessible. Think about times you've spent waiting in long lines at a gas station.

Sell scarcity. Ask yourself, what do you have that is SCARCE ELSEWHERE? Differentiate yourself.

According to Dr. Robert Cialdini, author of Influence: The Psychology of Persuasion, "the feeling of being in competition for scarce resources has powerfully motivating properties." He asks, "Remember the run on Cabbage Patch Dolls? The flu serum shortage?"

Dr. Cialdini comments, "People are mobilized to action more by losing something versus gaining something." He uses the example of a major ad campaign by Bose radio. Bose had unrolled a new system that was revolutionary. Their ads read "New Bose System". People were not buying. Cialdini had them change the headline to "Here's what you've been missing", and sales have soared.

What you have to provide is rare.

The idea of potential loss plays a large role in decision making. For example, when someone wants to hire me as an executive speech coach to help with a major keynote I ask, "What will happen if you don't put your energy and resources into this endeavor?" My prospect can then visualize a less than stellar performance that may have an impact on stock price, or company motivational level, or volume sales.

Your Speak for Yourself® Challenge:

Ask your prospects what will happen if they don't buy what you're selling.

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Speak For Yourself® | Dallas, Texas 75230 | (972) 490-8676
©Karen Cortell Reisman