598: 5 Scientifically Proven Behavioral Hacks to Increase Sales w/ Mark Dimassimo

ABOUT THIS EPISODE

In this episode we talk to Mark DiMassimo, Founder & Chief at DiMassimo Goldstein.

LinkedIn: https://www.linkedin.com/in/mark-dimassimo/

Looking for a guaranteed way to create content that resonates with your audience? Start a podcast, interview your ideal clients and let them choose the topic of the interview, because if your ideal clients care about the topic, there's a good chance the rest of your audience will care about it too. Learn more at sweet fish Mediacom. You're listening to the BE TOB growth show, podcast dedicated to helping be to be executives achieve explosive growth. What you're looking for techniques and strategies or tools and resources? You've come to the right place. I'm Jonathan Green and I'm James Carberry. Let's get into the show. Welcome back to the BB growth show. We are here today with Mark Damassimo. He is the founder and chief at the Massimo Gold Steam. Mark, are you doing today? I'm doing great. Thanks so much. Good to be here. Good. I am very excited to chat with you today. Mark. Based on conversation we were just having offline, we're going to be talking about scientifically proven behavioral hacks that our listeners can start using today. So these are super practical. You. You were walking me through him just now. I'm really excited to share these, but before we do that, I'd love to give our listeners just a little bit of context. Tell us about what you and your team are up to at at Damassamo gold seam. So Demassam goal scene is a twenty one year old independent fast growing INC five thousand the last four years in a row, advertising marketing design. We call ourselves an inspiring action agency. Our obsession is behavior change marketing. Behavior Change Marketing is all about building brands and businesses by helping organizations, help people change their decisions and their habits, change their behaviors. I really believe this. This comes from a philosophy. I really believe that today, with all the choice that's out there and with all the connectivity that's out there, people go to market in order to improve their lives, to become something. Yeah, and there is no change without changing behavior, and so people are actually looking for marketers to help them move their decisions and their habits in the right direction in order to get what they want in life, be what they want to be in life. And you know, I feel that, in a sense, the market places a battleground between those that would influence you in order to kind of make your life worse and those who would influence you in order to make your life better. And you know, for me, I want to be on the side of making it better, and that's what we're all about. I love it. I love it. And so, as we're talking about this, before we started recording, mark you mentioned there being two brains and and and so you said there's, you know, there's the alligator brain and then there's what you call the deliberative brain. Can you talk to us about these two...

...brains? And then we're going to dive into to some tools. So this is a metaphor from from a brilliant professor, dynamic professor at the Yale School of Management, who focuses on behavioral economics and Behavioral Science. In her name is Zoe Zoe chance, and Zoe Chances Metaphor is and this is, you know, based on her review of enormous amounts of behavioral science data. So Behavioral Science, Behavioral Economics, clinical intervention, mobile intervention. There's a lot of research out there these days that you can tap into as a be to be sales oriented marketer, and she's done a lot of the work for you. So she says there are two kinds of brains. There's the alligator brain and the alligator brain is it's unconscious, it's immediate in its reactions, it's visceral and emotional, and you know that is in contrast to this other brain, which is deliberative, conscious, slow, sequential, thoughtful. So, you know, people say, wow, these are metaphors, these aren't really two brains. The more we have science to the more we realize there really are two systems for how we respond. Our unconscious system, the alligator brain, in the other system. So it you know, there's a there's truth to this metaphor. It isn't merely a metaphor. So, going back to one of the the alligator brain, which is kind of what we think about without even consciously thinking that we're doing it. Is that right? That's exactly right. Okay, it's the reason we make decisions that we that are not really rational. God well, you know, because because we react so quickly and react in ways we don't even consciously understand. And so what are some tools that the B to be marketers listening to this, the folks in the Sales Organization listening to this? What are some tangible tools that they can use to kind of understand these things and and really engage their buyers. Engage at alligator brain, you know, the part of their brain that the buyer doesn't even really know that you know. This is why I'm reacting the way I am. All right, great, great question, because that's exactly what they need to do. They need to if they if you want to amp your success in be to be be, to be sales, you need to engage the alligator brain. You no one wins on the deliberative brain. The deliberative brain can't even take action. It's it will sometimes act in service of the alligator brain in order to sort of prevent his asters. Right yeah, but in fact it's the alligator brain that you've got to go for. So, you know, one of the biggest issues in in be to be marketing, and I'm just going to zero right in on sales. I mean we've all had it. The the prospects appointment with you is not their top priority, right. So we work so hard to get on the schedule and then the...

...day comes in a certain percentage of our prospects cancel those meetings. What if I could tell you a behavioral hack that would dramatically increase the number of those meetings that actually happen, I would say please tell it to me. Okay. So one avenue to the alligator brand is the avenue of at tension. Okay, and the principle is this. The more you can get that alligator brain to pay attention, the better you will do with that prospect. Okay. So here is an experimentally proven hack. This is this comes out of experiments that they actually did up at yeal. It's called the attention bias. If you can get the prospect to spend just a little bit more time on planning your meeting, they are much more likely to show up for that meeting to keep that meeting. So here's how you do it. Okay, a lot of people say, okay, can I get a meeting on the book, and the prospect says sure, Thursday at eleven. I've only got a half hour. Okay, here's what you do. You don't just say great, I've got a meeting. Shut up, don't ruin it. No, you've got to go against that instinct and do the opposite. You have to respond and say I want to be clear on where we're meeting. So okay, now they have to respond about where they're meaning. Can you tell me a couple of other things? You know I'm driving. I'm going to take ninety five. Do you think that's a that's a that's a good route. Can you tell me about the room will be meeting in? I'm bringing some technology and I want to make sure it's the right technology for presenting to you. I'm not saying there's there's there's probably a level of onerousness that you don't want to get to. But my point is if you can engage them in the details and get them to spend just that little bit more time, they will have paid more attention. They will have felt as if they've invested in that meeting. The alligator brain thinks this is important. Unconsciously, this must be important. I've devoted some time to it and attention, they're much more likely to keep the meeting. I love it. So by captivating that attention, getting them to commit so some of their own brain power early on, the likelihood of them canceling later goes goes down significantly. This next tool that you mentioned to me offline mark is ease. Talk to us about this tool and how we can use it. So there's a there's a whole body of behavior change, marketing, behavioral science, Behavioral Economics, research on the on the effect of ease. The reason I bring this up is is there there's there's also a lot of research on the bias of salespeople and marketers to focus on motivation. So if you think of the two sides, the two sides of behavior change, of sales, of marketing, as one increasing the motivation.

We just got to get this person to want it so bad that they do something about it, right, and the other side, ease. We just have to make this so easy to do that it's a no brainer. Well, your key to which works harder is that word, no brainer. Okay, yeah, because no brainer connects to the alligator mind. And in fact, when you look at the two factors, increasing motivation and and increasing ease, increasing each ease has a much larger effect on what people will actually do. Okay, and so you know, I see, for example, master salesman, master salespeople, using web platforms to let allow people to schedule Appointments, and think about what that does. One they've paid more attention, they've actually chosen a time, they've interacted with you to you've made it super easy for them to do it. These are the masters. Okay, that's so. So I would say, just if you one famous piece of research is they wanted to get people in cafeterias to eat more salad. So they did experiments where they put the sale at at eye level versus where they put the salad down, you know, a foot or two for my level, and in fact when the salad was at eye level, people ate a lot more salad. In fact, with the most important intervention they could do, putting signs up about how great salad is. Trying to increase motivation did not work, not nearly as much as just making it easier. I love it, I love it. Okay, so we've got we've got a tension, we've got ease. This next tool that we're going to talk about is scarcity. Talk to us about this and mark. Yes, scarcity. So people are again, there's great bodies of behavior science on this. People are much more motivated by avoiding a loss than they are by creating a gain. Now, you know that sounds okay. I can sort of get this, but you know, when you when you think about the implications of this, it gets really weird. By experimental proof, people will work much harder to avoid losing a hundred dollars then they will to gain a hundred dollars. Interesting. Now, traditional economists will say people are rational optimizers. Right, a hundred dollars more is exactly the same value as a hundred dollars less. But psychologically, no, behaviorally know. So if you present your offer, whether that's an offer to meet, an offer for to share information and offered us to buy. Now, if you present it within the context or frame of scarcity, you know it's getting near the end of the month. I'm only going to be able to write three more of these by the end of the month. That the demand has been larger than I my I thought my boss is...

...basically saying we can only do three more of these, whatever it is in your world. Yeah, present it within the frame of scarcity. It activates that alligator rejection of potential loss. People are suddenly saying I have this opportunity but it's going away right or when I'm one of the few people to have this opportunity, that could easily be one of the whether the many people who don't. I need to act on this. Yeah, it short circuits the deliberative brain and and it has been shown to dramatically increase uptake. So of course we use this and direct response advertising and retail advertising, interactive advertising all the time and it's absolutely something that works well within the context of BEAB sales. Got It. Okay. So so this fourth tool that we're going to talk about, mark is labeling. Explain this one to us. You know, it basically just says what you call it counts. You know, what you call the thing makes a huge difference in the way it's filed in the brain. And so, you know, take a look at what jet blue did. So you know, lots of airlines have first class and business class, right. So that's that. And you know, at Fret First First Class sounded amazing, right, first class was was first class. Yeah, and then over time first class got to be sort of ordinary and you know, virgin came in with upper class and that added a sort of a British cast snobbiness to it and that kind of worked for a while. So now there was first class, business class and and upper class. When jet blue tried to solve the problem of how do we create this really special experience but do it in a more American, more sort of democratic you know, more sort of Internet era way. They want a whole different direction with their naming. And they called it mint. And you know mint. So imagine the alligator brain with mint. You have a media sort of scent associations, right, it's you. Maybe maybe you smell the freshness of mint again in your unconscious alligator brain. Maybe you think of a mint automobile, right, and that you know, that Sheen, that shine, you know. Maybe you think of a newly minted coin, currency or whatever. So the label itself adds value, and we see this in experiments. I mean, not only are people more likely to buy, but people will pay a premium. There is no such thing as a commodity right. The label can change the value for people. The scarcity, the ease, the attention, it all can change the value for people. And so so how does that you know? For A me tob company, does that mean changing, you know, the...

...names of their how they label their products and services? Is it? Is it deeper than that? Yeah, I think it is deeper than that. I think I think ultimately, really want to think through the entire journey of the prospect. Okay, and not only that, because we need to motivate our partners in our salespeople to and be to be sales right. So think about their journeys as well and you know they're there. Could be a good argument about where it's the most important place to start. I tend to like to start with with our without who I think the people I think of as the as our ambassadors are advocates. I would start with the employees in the salespeople. But either way, you think of the whole journey and you think about the way your competitors are naming things throughout the journey and you have the opportunity to relabel. Think very carefully about it. So you know we're a company that's about growth through behavior change marketing. So you know we don't have a strategy, as many agencies do right. What we have as a theory of growth and a behavior change strategy. So it's easy to step back and say, well, that's BS, it's just the same thing. Well, actually, no, I mean we're studying, we're learning. Our aspiration is to make it as different as we possibly can. But the truth is at the at that alligator, you know, level of brain, it doesn't matter. Well, the label makes everybody respond differently, you know. Finally, I just saw research. This was brought up to me by my ten year old son, who's reading the New York Time Science Section, and they've now actually found out that you literally taste wine differently when it is in a different shaped glass. Interesting. So Behavior Science had proven that you you think you taste it differently, but brain science has now proven that you actually taste differently when the glass is a different shape. Who Your beliefs actually affect the part of your brain the tastes? Huh So? So sent even sense isn't sort of one channel, it's not directly from your mouth to your brain, and that's taste. No, taste is a function of belief. It's a function of your multiple senses as well. So, in fact, labeling and every other way you can affect the sensory experience of your salesperson, of your prospect, makes a huge difference. Makes Sense. All right, mark this. Last two we're going to talk about is urgency. Explain this one. Well, look, urgency is a variation on scarcity, but urgency, it just happened. It deserves its own category because urgency just works so well. There's...

...something intuitive about us, right, there's something intuitive about about folks. You know, maybe it's called impulse control, and many of us have enough impulse control to be reasonably successful in life. So the intuition behind that is we kind of know at some level that we have an alligator brain that could get us into trouble, and so we try to slow down and engage the deliberative, sequential brain. One thing that just short circuits that process like nothing else is a sense of urgency. When you can create a sense of urgency, it creates a sense of excitement and people that stimulates the alligator brain and represses the deliberative brain. And so you know, if you basically say I actually have a special price that I'm able to offer, but it's only available for the next ten minutes, could I have, you know, five minutes of your time or you know, I'm under a lot of pressure in order to close up my books for the end of end of the quarter, and so I'm able to make some deals that I would not be able to make it any other time. I don't think I've ever done this before, but we would just have to have the conversation within twenty four hours. There are many ways of including urgency, yeah, in your sales process that work really well. Can I give you one lucky strike extra? Yeah, absolutely are just contemplate this, because this is this is research that I just saw which just blows me away. If you're showing the old price and the discount price, is it better to show them close together or further apart? Do you want to guess? I mean close together. I would think that is that happens to be what I thought and what what most marketers and experts would think. In fact, research is shown that when you show them further apart, that it increases the sales, you know, markedly. We don't know why. We think that maybe the alligator brain says, look, how far that lower price is from the higher price, right, yeah, and you know so again, maybe it's an internal level labeling thing. We don't actually know why that works, but it just goes to show that factors that you would think are rational not worthy of attention can actually make up a market statistically significant difference in your sales and in your success. Interesting, very interesting. Will mark this has been fantastic. I really appreciate you sharing these five tools that've been really helpful for me. I know our listeners are going to get a ton of value as well, if there's somebody listening, they want to stay connected with you, mark, what's the best way for them to do that? Well, first all off, mark at Dgo Brandscom. Feel free to email...

...me, mark, and they are K at Digo Bra A and dscom. I'm also connect with me on Linkedin. I love to connect with like minded folks on Linkedin. Mark Di Massimo at Mark de Massimo on twitter and Dgo Brandscom on the web. Love it awesome, Mark, will, thank you so much for your time today. Again, this has been fantastic, so I really appreciate it. Thank you so much. If you've been getting valued from this podcast, you can help us reach more people by reviewing the show on itunes. Here's how you can leave a review in less than a minute. Open your podcast APP and tap the surge icon in the bottom right corner. Type in B toob growth, then select our show. Once you're there, tap the reviews tab and tell us what you think of the show. These reviews help us out of time. Thank you so much for listening. Until next time,.

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