Page 24 - Investment Advisor June 2021

RIA LESSONS & LEADERS

By Mark Elzweig and Melanie Waddell

5 Top Sales Insights From Robert Cialdini

The social psychologist and author provides some great ideas on how RIAs
can boost their businesses.

obert Cialdini is one of our most
authoritative and frequently
R cited social psychologists. He’s
also the best-selling author of “Influence:
The Psychology of Persuasion” and
“Pre-Suasion: A Revolutionary Way to
Influence and Persuade.” Here’s a sam-
ple of his practical wisdom.

1. Use the art of pre-suasion.
Before you reach into your bag of logi-
cal arguments, soften up your audience
with an emotional message that gets
them ready for what you really want
to sell. Cialdini calls this technique
“pre-suasion.”
He recounts how a consultant who
was having difficulty getting clients to
pay his high fees started his presenta- are aligned with the goals that we want like us. This is a departure from the con-
tion by saying, “I’m not going to be to achieve. ventional wisdom of most sales training
able to charge you a million dollars For example, a group of fundraisers programs, which advocate pointing out
for this” (though that would have been who saw pictures of a runner winning similarities and complimenting pros-
ideal). Afterward, he was much more a race consistently garnered 60% more pects to get them to like you.
successful in getting prospects to pony money over a four-day period than a Cialdini says the techniques he
up the big bucks. That’s because he con- control group did. Those images put the advocates are useful in convincing oth-
ditioned them to accept that his service idea of success into their minds before ers that you do indeed like them. He
was expensive. they kicked off their project. believes that it’s critical for you to find
An online furniture store exposed one Similarly, a group that worked on things about your colleagues that you
group of shoppers to website wallpaper an assignment requiring complex prob- genuinely like. You can’t be a fake. And
of fluffy clouds and another to website lem-solving abilities produced superior it’s the best way to convince others that
images of pennies. The first group later results by plugging away near a copy you think highly of them, he adds.
emphasized comfort in their purchases, of Rodin’s “The Thinker.” That illustra-
while the other focused on price. tion highlighted the value of analyti- 4. Use the reciprocity principle to
The key is to plant a message in cal thinking in their minds before they boost your business.
prospects’ minds that prepares them for started their work. Small gifts can generate big results,
your offering — even before you make Cialdini says. Giving clients and pros-
your request. 3. Follow the No. 1 rule for top pects a small present before you ask them
salespeople and learn to establish to do something can pay off. Even a cup
2. Get into the right frame of mind. instant trust with prospects. of coffee or a pen can motivate recipients
How do you get yourself into the right Show clients and prospects that you to respond by doing business with you.
frame of mind to achieve your goals? genuinely like them. According to Social psychologists say that we’re
Cialdini says that before we begin our Cialdini, we trust and want to do busi- wired to be unconsciously motivated
task, we need to focus on thoughts that ness with people who sincerely seem to to return others’ good deeds. We feel

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