It's interesting how this phenomenon transfers to the world around us, and, particularly, to the world of social media and the virtual market. People are terrified of making poor choices. Often, that fear alone is not enough to deter bad decision-making, but the fear exists nonetheless. Perception is everything to most people, and the thought of contributing a few dollars to a performance that no one else enjoyed is anathema. So they check.
People behave the same way in today's social market. They check to see how others have reacted before they dive in with open wallets and checkbooks. If the sentiment is popular, they feel better about their investment. If it's not, they run scared. The street performers understood this, and they were proactive, investing a little of their own, to initiate a return from others.
We ought to be doing the same. If we are afraid to invest our own resources in what we are trying to sell, why would other people want to get on board. Talking about the virtue of charitable giving, and refusing to join the ranks of givers, come off more than a little disingenuous. Making claims about the incredible value of a particular investment, but not investing yourself, is outright hypocrisy.
People, for the most part are followers. Sales, in any market, is leadership. You can't "boss" people into buying and expect to be successful. That is the reason so many car salesmen have such terrible reputations. You have to lead them to a decision. Leadership is example. Showing them the way, the ups and downs, the benefits and detractors, and showing them through actual performance, gives them the peace of mind that those street spectators look for when peering into a plastic bucket or guitar case.
How do you sell by example?
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