In this excerpt from Brendan’s upcoming course, “How to Create a Billion Dollar Sales Pitch,” you’ll learn about the two key cognitive biases that you should keep in mind as you prepare a sales pitch: anchoring bias and groupthink bias. Anchoring bias essentially describes the way people will cling to the first piece of information they receive about a topic, and filter all subsequent information through this initial, embedded belief. Groupthink bias is the tendency of people to adopt the beliefs of the group to appease those around them.
Recognizing these biases means realizing how hard it is to change someone’s minds from their first understanding of a product or service, and how advantageous it is to present your product as a category leader, so that enough people will buy in that they sway even reluctant buyers. Understanding these two biases is highly beneficial not only to salesmanship, but to developing market strategies and investor strategies.
In this episode of Billion Dollar Tech, you’ll hear a highlight from Steven Novella’s lecture “Your Deceptive Mind,” the true origins of the famous line “Nobody ever got fired for buying IBM,” and a quote from Steve Godin that sums it all up.
Quotes
“Let’s take Covid that’s going on right now, as we’re recording this. Is it a conspiracy, or is it a real thing? Much of how you think of this is anchored on the first piece of information you got.” ([1:47]-[1:56] | Brendan)
“People so over-index on the first piece of information they’re given, it’s almost impossible to change people’s minds.” ([2:46]- [2:52] | Brendan)
“That’s what you’re trying to do: you’re trying to say that people who adopt a similar identity to that of your ideal buyer do things like this, by what you sell.” ([3:49]-[3:59] | Brendan)
Connect with Brendan Dell:
LinkedIn: https://www.linkedin.com/in/brendandell/
YouTube: https://www.youtube.com/c/BrendanDell
Instagram: @thebrendandell
TikTok: @brendandell39
Buy a copy of Brendan’s Book, The 12 Immutable Laws of High-Impact Messaging: https://www.indiebound.org/book/9780578210926
Please don’t forget to rate, comment, and subscribe to Billion Dollar Tech on Apple, Spotify, or wherever you listen to podcasts!
Use code Brendan30 for 30% off your annual membership with RiverSide.fm
About the Author
Brendan Dell
Brendan Dell is an author and the founder of The Daily Creative. As a freelancer he's worked with clients like Expedia, Cvent, Panasonic, Brother, Windstream and 100+ more to build unignorable tech brands. At The Daily Creative, he shares advice and lessons to help freelancers level up.
