A Quick Read on Prospect Theory and Loss Aversion

SlideModel

Prospect Theory or the loss-aversion theory in behavioral economics and behavioral finance, aims to determine people’s decision making and their tendency for loss aversion. What is Prospect Theory and Loss Aversion? In 1979, Daniel Kahneman and Amos Tversky came up with the Prospect Theory. The Prospect Theory aims to explain how people choose between different prospects and how they choose the probability of each prospect to avert losses.

Social is the new prospecting

SpeakerSue Says...

What do you know, what photos can you show, what insights can you post to create excitement in the mind of your prospect? BONUS Is this prospecting? You drive interest, expand your audience and have a larger pool of prospects. Remember sales blitzes? With no security, we could actually just enter an office building and go door-to-office-door introducing ourselves, leaving goodies – always goodies! – and collateral.

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Do your emails create pattern interrupt to prospect successfully?

SpeakerSue Says...

Ramping up your prospecting is key to packing your pipeline. You have to do more prospecting now. Here is the vision to apply: Make it about your customer’s prospects goals. Use these tactics in your next prospecting email to create pattern interrupt, distinction and desire. BONUS Prospecting, today, starts with social. Anyone who tells you otherwise is wrong. And you have to do it better than you did pre C-19.

Gain trust with your prospecting emails

SpeakerSue Says...

Email Sales Writing Email Tips Featured Selling Skills Communication Skills email as a sales tool high impact presentations hospitality and hotel sales Hospitality Sales how to say it to sell it Power Sales Writing presentation skills prospecting sales mastery sales skills sales success sales training say it to sell it SpeakerSueHow many emails do you delete unopened each day?

Your secret equation for prospecting success

SpeakerSue Says...

You can create a pretty decent knowledge-based prospecting email that elevates your offering, creates a bit of distinction and enables a friction-less experience to maybe gain attention and traction. Email Sales Writing Email Tips Featured Selling Skills email as a sales tool high impact presentations hospitality and hotel sales Hospitality Sales how to say it to sell it Power Sales Writing prospecting sales skills sales success sales training say it to sell it Speaker Sue

Prospect effectively (now) with this critical email tip

SpeakerSue Says...

Here are a few examples of how I’ve started recent emails with prospective clients that I haven’t connected with during this entire situation. Crisis Communications Email Sales Writing Email Tips Featured Selling Skills email as a sales tool high impact presentations hospitality and hotel sales Hospitality Sales how to say it to sell it Power Sales Writing prospecting sales skills sales success sales training say it to sell it SpeakerSueCovid-19 is not an ice breaker.

How not to prospect- learned by accident

SpeakerSue Says...

What I learned is that people really don’t know how to prospect or sell! High performing sellers make it desirable for prospects to want to further a conversation with you. Communication Skills Email Sales Writing Featured Selling Skills email as a sales tool high impact presentations how to say it to sell it Power Sales Writing presentation skills prospecting sales training say it to sell it SpeakerSue

How to prospect in 2019: Stop introducing yourself

SpeakerSue Says...

So how can you engage a prospect right from the start? Email Etiquette & Productivity Email Sales Writing Featured Selling Skills email as a sales tool email etiquette hospitality and hotel sales Hospitality Sales how to say it to sell it Power Sales Writing prospecting sales skills sales success sales training say it to sell it SpeakerSue“My name is Sophie Spaniel and I am the sales manager at ….”. “I’m I’m writing to introduce myself to you.

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Why offering promotions when you’re prospecting is stupid

SpeakerSue Says...

They gave you a 25% off promotion that you can use when prospecting. When you prospect based on a discount, you devalue everything you offer. Top performers don’t prospect by discounting. They prospect by building excitement and value. So unless you have a clear strategic plan (like getting your foot in the door) or you are the McDonalds of your industry and proud of it, do not prospect on a promotion.

How to use email to prospect and grow new business at this moment

SpeakerSue Says...

“How do I prospect for new business now?”. The way to prospect now (and before and after) is to provide thoughtful, helpful, relevant content your buyers might truly benefit from knowing. You do have to read the research before sending it and you do need to have an authentic helpful reason to send it to your prospect. Such a simple question, asked by thoughtful, experienced, caring sales people. Three weeks ago, I would have said, “You don’t.”. But that was ten years ago.

2020 40

How to Get Your Top Prospects on the Phone

Succeed Speaking

” “I can’t get prospects on the phone.” Here’s the truth: Our prospects are under extreme pressure to do more in less time with fewer resources. Join us for a 29-minute sales training this Friday, October 28, at 1pm Eastern / 10am Pacific and you’ll learn: The criteria your prospects use to decide your fate — and how to influence them. How to gain access to crazy-busy prospects who haven’t got time for the pain.

Ghostwriting Books: Pitch package to prospect

Jane Genova: Speechwriter - Ghostwriter

The sweet spot in pitching to a prospect for a book to be ghostwritten is to frame that as a total package. So, we who have been in the game have to tap into that knowledge and insight gap - and demonstrate to the prospect that we are the ones to fill it. Today I again nailed down the business by explaining to the prospect what a book needed to achieve his goals.  In this fast-changing world of how books are published, distributed, and promoted, clients are confused.

Ideas - Prospects Want Those, Not Laundry List of Credentials

Jane Genova: Speechwriter - Ghostwriter

When prospects contact communications strategists/content-providers, they want us to showcase that we are a bulging source of ideas. The currency of 2017 is The Idea. Finally, I got that. We will not get their business if we don't throw out there some quick recommendations how they could be leveraging fresh approaches to achieve outcomes.    No, they don't want us to recite a laundry list of our credentials.

3 Keys to Qualifying Prospects Now

SpeakerSue Says...

Once upon a time, it may have been possible to qualify a prospect by asking questions that would determine whether you had the goods to sell to them. But they shouldn’t be asked at the beginning of a conversation because your prospect knows exactly what you’re doing… and what you’re doing is thinking about your own needs and making the sale. Instead, here are 3 keys to qualifying prospects now: 1.”Be

Public Relations Firms - Don't Invite Millennial Prospects to Play Golf

Jane Genova: Speechwriter - Ghostwriter

The usual courting rituals to attract new clients are changing. When it comes to Millennials, many of them making big bucks in tech, forget inviting them to a game of golf. The Sports & Fitness Industry Association reports that Millennials have little interest in the game. In fact, 800 golf centers have been shuttered. Here are more details from BusinessInsider. There are a number of reasons why golf is no longer the game to be associated with. For one thing, the game is time-consuming.

Are you distracting your prospects?

Speaker Launcher

And keep your prospects around until they take the action that you desire. Recently, I decided to take most of the social media logos off of my website. You see, I don’t want to drive people away from my site (over to Facebook, LinkedIn, etc) I want to keep them with me until they take the desired action. In an effort to be deemed current, I think we all jumped on the social media bandwagon. But did we do it with strategy? Remember that old saying a confused buyer never buys?

What to say after “hello” – Prospect for Success!

SpeakerSue Says...

Or you phone a prospect who seemed interested when you met at the trade show/sales blitz/networking event and instead of getting him, you get his voice message. Plan a conversation starter that focuses on your prospect not your product. Selling Skills Communication Skills high impact presentations how to say it to sell it prospecting sales success sales training SpeakerSue

One prospecting tip to kick off the New Year

SpeakerSue Says...

Tell your prospect –concisely and with a message that revolves around them – why you’re calling. Whether in email, on the phone or face to face, Selling Skills how to say it to sell it prospecting sales mastery sales success sales training say it to sell it SpeakerSue Welcome to 2014! If you’re still using the same “script” that worked for you a few years ago, you’re probably feeling a bit frustrated. So chuck it and start the year fresh.

One prospecting tip to kick off the New Year

SpeakerSue Says...

Tell your prospect –concisely and with a message that revolves around them – why you’re calling. Whether in email, on the phone or face to face, Selling Skills how to say it to sell it prospecting sales mastery sales success sales training say it to sell it SpeakerSue Welcome to 2014! If you’re still using the same “script” that worked for you a few years ago, you’re probably feeling a bit frustrated. So chuck it and start the year fresh.

Shortage of new prospects? Really?

SpeakerSue Says...

He gets on the phone and begins with a brief introduction (Hi, my name is with __) and provides a touchpoint (and your name was given to me because [I'm making this part up for his sake] you are a veterinarian… Okay, not exciting but truthful, answering the prospects two unasked questions (unasked because we’re talking!): A friend of a friend asked me for some ideas about building his sales funnel.

Tips to Better Prospecting with Hosted Buyer Appointments

SpeakerSue Says...

“We don’t need to prospect,” my client said, “Our funnel is overflowing but we aren’t getting new business. We go to these hosted buyer things and come back with a boat load of new prospects. ” By prospecting. Even if your prospect says to you, “Yes, please tell me about your property,” please don’t – other than very quickly and in general – until understanding what about the property she wants to know.

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Steve Bannon, Out - Tipping Point Could Have Been American Prospect Interview

Jane Genova: Speechwriter - Ghostwriter

Was Steve Bannon on a job-suicide mission when he gave his interview to the American Prospect? In it, like the Mooch, he aired plenty of dirty laundry. So, just like the Mooch, his job at the White House has been terminated. For everyone in the loop, probably including Bannon, it is good riddance. Shrinks might be reading plenty into the interview method for exiting (badly) a bad-fit of a situation. Others simply tell off the boss.

2017 40

Ghostwriters: Giving clients, prospects the gift of listening

Jane Genova: Speechwriter - Ghostwriter

  That includes the kind of arguments, tone, organization, and selection of audiences which yield outcomes for our ghostwriting clients and prospects.  That's why the most wonderful gift we can give clients and prospects as well as our own careers is listening.    Successful sales representatives dig artfully and with great care to find out what the prospect needs.  Everything changes. 

Prospecting Isn’t Brain Surgery – but it does require brains!

SpeakerSue Says...

Selling Skills prospecting sales skillsCaller id didn’t and so I answered the phone, “Hi, this is Sue.&# She says, Hi, This is Name Name with American Insurance and we had insured you and I was wondering if I could requote for you.&#. With that authentic opening (other than not using my name since I gave it to her), I thought she deserved the right to re-quote. But out of my mouth came, “Thanks but my husband and I are happy with State Farm.&#.

Prospecting Isn’t Brain Surgery – but it does require brains!

SpeakerSue Says...

Selling Skills prospecting sales skillsCaller id didn’t and so I answered the phone, “Hi, this is Sue.&# She says, Hi, This is Name Name with American Insurance and we had insured you and I was wondering if I could requote for you.&#. With that authentic opening (other than not using my name since I gave it to her), I thought she deserved the right to re-quote. But out of my mouth came, “Thanks but my husband and I are happy with State Farm.&#.

5 Ways to help your prospects buy from you

SpeakerSue Says...

” This explains why some sales people exist even though they bring no value to the prospect. One person posted his response: “I listen only to prospects that are ready, willing and able to buy. The American jackal, better known as a coyote, has survived for 1.8 million years. The name “ coyote ” is borrowed from Mexican Spanish, meaning “trickster.” They trick them and they’re able to adapt their tricks as times change.

2014 46

Strong PR Demand: Going back to pitching directly to prospects

Jane Genova: Speechwriter - Ghostwriter

The nice odds about sending out unsolicited requests for work - full time, part time, freelance - is that they result in quality responses.    Sure, the rate of those responses is low.    But, but when we are looking for work we don't have much else to take our time but to look for work. I was first clued into the power of the this kind of cold calling by that now iconic book "What Color Is Your Parachute." 

Get on the Phone, Send Emails: That shows clients, prospects we care deeply about their projects

Jane Genova: Speechwriter - Ghostwriter

There is a fine line between communicating to clients and prospects that we care deeply about their projects and being an angst-ridden pest.  One prospect banned my compulsive emails. Now, I got into the rthymn of knowing how and when to connect back with clients and prospects.  But, to get and keep clients we better master discerning that line.

2013 47

Sales Generation: Prospecting Tips for a Slow Economy

Fripp THE Executive Speech Coach

Prospecting Tips for a Slow Economy by Patricia Fripp, CSP, CPAE. Frippicisim: It is not your clients' and prospects' job to remember you. Go through your address book, data base, Christmas card list and confirm everybody you know is familiar with your profession, what your specialty is, and who is the perfect prospect for you to best serve. The better your relationship with them the more they will want to send you new prospects.

Why should your prospects trust you?

SpeakerSue Says...

These orders got me thinking about what the companies did that was so important and how we, as salespeople, can help our prospects feel so charmed with us. Twice within the last two weeks, I made purchases totally on faith. One, a gliderbike from pvglider.com , and the other a Groupon purchase from Canvas on Demand.

A Simple Strategy for Getting to Your First Yes

Speaker Launcher

When we reach out to prospects who do not know us, our goal should never be to “book a date” from our early communication. Most Recent Post Speaking Business Strategy communicating with prospects contacting prospects getting booked getting to yesThe goal should be to gain forward movement, start building a relationship and rapport. Once you begin to develop that relationship, the goal shifts to then hoping that the recipient will […].

2017 71

Generation Z Females Need Economic Incentive To Shun Violence - For Baby Boomers, That Was Landing Husband "With Prospects"

Jane Genova: Speechwriter - Ghostwriter

" Otherwise, come on, we would never land a husband "who had prospects." From the get-go, we female Baby Boomers were socialized to be "ladies." " When we entered the all-important mating arena of college, that conditioning was reinforced, heavily. At the then-all-women's Seton Hill , Greensburg, Pennsylvania, that thick envelope, announcing that we had been admitted, contained a book list to read during the summer before we matriculated in the fall.

2015 47

Increase Business Sales: Prospecting Tips for a Slow Economy

Fripp THE Executive Speech Coach

Prospecting Tips for a Slow Economy. Frequently I am asked, “How can I prospect for more business?”   My favorite Frippicisim: It is not your clients' and prospects' job to remember you. Go through your address book, data base, Christmas card list and confirm everybody you know is familiar with your profession, what your specialty is, and who is the perfect prospect for you to best serve.

How to Use Business Systems to Find More Buyers

Speaker Launcher

Most Recent Post Speaking Business Strategy Building your speaking Business business foundation find more buyers finding prospects marketing processing sales funnels supporting business growth systemsThis month at The Wealthy Speaker School, we are focusing on the topic of finding more buyers. This is an area that many speakers struggle with, regardless of how long they’ve been in business.

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Are You a Pusher or Attractor?

Speaker Launcher

Emerging Speaker Rising Superstar Speaker Seasoned Speaker Speaking Business Strategy becoming a keynote speaker becoming a speaker build your speaking business helping speakers grow mapping out your content prospective buyers Wealthy Speaker SchoolAs I left the zoom call with Gabriella, I thought about how the call went. Was I in the mode that I wanted to be in when it came to my business? And the answer was “no”.

2020 68

Does your subject line sell? Prospecting ideas and more

SpeakerSue Says...

Prospecting ideas and more. When prospecting, ask the question that matters: Can we talk Thursday at 4p? If it has to break through the clutter of your prospect’s inbox and be compelling enough so she’ll voluntarily interrupt her work to see what you have to say , consider these ideas. Tags: Email Etiquette & Productivity Selling Skills email etiquette prospecting sales mastery sales skills subject lines that sell

Successful Marketing Means that You Identify Prospective Clients

Fripp THE Executive Speech Coach

Successful marketing means that you identify prospective clients and position yourself in the market so they choose you over your competition. Their comments, especially negative ones, will help you tailor both your product and your approach to other prospects. These prospects had distinctive demographics. Looking for more business? Marketing/PR expert Gary Purece gave me some advice it can help you!

Interviewing Prospects: Why you might have them sign NDA, even at that stage

Jane Genova: Speechwriter - Ghostwriter

One financial-information startup in Manhattan handles this possibility by having prospects sign a bulletproof NDA (Non-Disclosure Agreement) right in the lobby, before they even enter the operations part of the company.    The agreement specifies that what the prospects see and hear while interviewing is confidential.  The economy may be improving but, in many fields, there is still a glut of talent. Since

2013 40

Is it Your Open or Close Sabotaging Sales Success?

SpeakerSue Says...

Prospecting for new business is the same! Telling prospects about the longevity and strength of your company or your years selling may give you a boost of confidence, but is that what matters most to your prospect? BONUS About three times a week, clients forward examples of terrible prospecting emails they receive so we can laugh at the seller’s expense. You’ve swiped right to let them know you’re interested.

2020 43

Developing a Sales Strategy for Booking More Speaking Gigs

Speaker Launcher

Booking Speeches Emerging Speaker Rising Superstar Speaker Seasoned Speaker Speaking Business Strategy booking more gigs developing a sales strategy finding speaking gigs hiring a salesperson hiring an agent list building prospecting sales strategyThere is a lot that goes into building a speaking business. You need to perfect your message so that you can put strong marketing in place.

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Using Blogs and Articles to Find Targeted Prospects

Great Public Speaking

Guest posting on other people's blogs is a great way to find targeted traffic. Many major blog sites have been up and active for years, attracting thousands of page views a week and a ton of subscribers. They have done all of the hard work. By guest posting, you can give the blog owner fresh new content that they need and you can get a link back to your website that could drive thousands of readers to your services.

Prospecting Tips for a Slow Economy: Sales Presentation Skills Increase Odds

Fripp THE Executive Speech Coach

Prospecting Tips for a Slow Economy by Patricia Fripp, CSP, CPAE. Frippicisim: It is not your clients' and prospects' job to remember you. Go through your address book, data base, Christmas card list and confirm everybody you know is familiar with your profession, what your specialty is, and who is the perfect prospect for you to best serve. The better your relationship with them the more they will want to send you new prospects.

Are you Scaring Your Prospects at Trade Shows and in Email?

SpeakerSue Says...

No one frightens qualified prospects and interested people away knowingly. When you ask questions in an email that require your prospect to provide a thoughtful response, you scare them away. I’m not implying that your prospects are stupid, just that they are busy. Booth personnel, those who were standing them by themselves and without a prospect – those who weren’t on their phones – jumped on me.