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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?