Psychology Of Sales, Why People Buy, & How Discounting Works

How does discounting work? What compels you to buy? Why do sales trigger a response to purchase? What are the psychological reasons why it's hard to resist a sale and how can you apply these principles to a service design business? Learn what a "reverse sale" is and why it works. Charge more while creating the feeling of a discount.

If you're looking for some context on how to apply this, look at this video with Ben Burns:


1:22 - When should you give a discount?
4:25 - What are the exceptions when giving a discount?
5:30 - Give a discount to loyal customers
6:45 - Give a discount to a customer that buys in bulk.
8:30 - Give a discount to people who want the “early bird” special.
10:00 - Give a discount to for people who invest, and wait.
11:00 - How to use a good story to get people to buy.
12:45 - Give a discount to for people pay early.
15:15 - Why are we compelled to buy things at a discount?
Anchor - 16:40 - it holds you to a spot, compare the discount price to original price
Time Scarcity 19:30 - the deal is going to go away
Quantity Scarcity - 21:22 - Today only! Flash offer
Decision - 24:00
27:30 - What is the reverse sale concept?
38:00 - When can you use the reverse sale concept?
39:00 - Bonus Tip: How to apply this as a freelancer
40:45 - Recap

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