If you put true scarcity on something, you will sell more. When I had my massive sales team when we were doing turnarounds, so we had eight sales guys that were launching locations. Two thirds of the sales happened in the last one third of the time period. Tell people your limits and you'll increase their desire.
Which principle of persuasion are you lacking? Today, Alex (@AlexHormozi) discusses the principles of persuasion and how they can be applied to businesses to sell more products and build successful companies. He also explains how the principles of authority, reciprocity, consistency, social proof, and liking can be used to increase sales and build trust with customers.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(1:08) - Reciprocity: Give what you want to receive
(5:49) - Consistency: We judge people based on their actions
(10:25) - Social proof: looking at others on how to behave or what to believe.
(13:43) - Rapport: people like people who like them
(17:06) - Authority: can be a powerful tool in persuasion
(20:06) - Urgency & Scarcity: people value what is scarce
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