Podcast on anchoring
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?