July 11, 2013

Psychology of Persuasion

In his book Influence: The Psychology of Persuasion Dr. Robert B. Cialdini discusses the below given 6 key principles of influence.
Reciprocity / Commitment and Consistency / Social Proof / Liking / Authority / Scarcity

As to the Liking principle: People are easily persuaded by those that they like and the probability of them buying a product increases if they liked the person selling it to them.

When you are about to sell your business the same principles still hold through. If there is a fitting chemistry between the seller and purchaser of the shares of the company, the negotiations run more smoothly than in projects where there is a factor of “unliking”. To check if that chemistry exists we let our clients to spend considerable time with the possible buyers. We create for them the necessary environment for understanding each other.

If you would ask me which of the 6 principles is more effective, I would not be able to make a differentiation among them. But Scarcity is the one I like to use the most.

In case you want to get more information on Dr. Cialdini’s book or to purchase it, please click here.

Oldie of the week: The Beach Boys – Good Vibrations (1966)

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