Selling it!

[sulong]

Keeping the following principles in mind while reading message boards may make your journey a little less confusing by being aware when you are a target.


Psychological trick number 1: Reciprocity

Reciprocity works like this, you give someone something of value for free. That individual feels an obligation to return the favor. Reciprocity is a very powerful principle.
The trick is to create something that has high perceived value to a prospective customer, but cost you little or nothing to produce. Free information is a good example.

Psychological trick number 2: Scarcity

Scarcity works like this: There is a limited amount of the item available. After those are gone, the item will not be available.”Urgency” implies scarcity. For example, “this offer will be honored only for a limited time.
Scarcity can be in the form of “limited number available”, “limited amount of time”,”limited number of enrollee's being accepted”.

Psychological trick number 3: Commitment

Commitment involves getting a prospective customer to take tiny steps towards a goal. For example, you might get them to request additional free information, or fill out a survey. When a prospective customer takes that first step, they have made a commitment, however tentative, towards the goal you have set out for them. They are likely to take another step.
The most common example of the principle of commitment are those long-winded full page advertisements (post?). The prospective customer invest a great deal of time reading through the entire advertisement. That investment of time represents a commitment. They are likely to take the next step, responding to the advertisement.

Psychological trick number 4: Consensus

Consensus involves getting prospective customers to believe that “everybody's doing it”. Everybody is just waiting in line to purchase your product. Everybody can't be wrong, so the product must be fantastic!
Photographs work great for this.

Psychological trick number 5: Authority

Authority involves getting prospective customers to believe that someone who is knowledgeable or famous uses your product or service. If a knowledgeable or famous person uses your product or service it must be fantastic!
The bigger the authority, the more powerful the message will be. For example doctors are authorities, especially when you get 4 of 5 agreeing with you.
Large organizations, governments, dead philosophers, mothers, and even god are authorities.

Psychological trick number 6: Greed

Greed involves taking advantage of many peoples belief that there is a secret short cut to wealth. They believe that wealthy people didn't earn their wealth. Instead they know a “secret”.
A “secret” implies a shortcut to knowledge and experience. No work in exchange for wealth is much more appealing than loads of work in exchange for a questionable outcome.

 

[hungvir]

Good post, Sulong. I wonder what's the catch here

 

[Charlton]

Keeping the following principles in mind while reading message boards may make your journey a little less confusing by being aware when you are a target.


Psychological trick number 1: Reciprocity

Reciprocity works like this, you give someone something of value for free. That individual feels an obligation to return the favor. Reciprocity is a very powerful principle.
The trick is to create something that has high perceived value to a prospective customer, but cost you little or nothing to produce. Free information is a good example.

Psychological trick number 2: Scarcity

Scarcity works like this: There is a limited amount of the item available. After those are gone, the item will not be available.”Urgency” implies scarcity. For example, “this offer will be honored only for a limited time.
Scarcity can be in the form of “limited number available”, “limited amount of time”,”limited number of enrollee's being accepted”.

Psychological trick number 3: Commitment

Commitment involves getting a prospective customer to take tiny steps towards a goal. For example, you might get them to request additional free information, or fill out a survey. When a prospective customer takes that first step, they have made a commitment, however tentative, towards the goal you have set out for them. They are likely to take another step.
The most common example of the principle of commitment are those long-winded full page advertisements (post?). The prospective customer invest a great deal of time reading through the entire advertisement. That investment of time represents a commitment. They are likely to take the next step, responding to the advertisement.

Psychological trick number 4: Consensus

Consensus involves getting prospective customers to believe that “everybody's doing it”. Everybody is just waiting in line to purchase your product. Everybody can't be wrong, so the product must be fantastic!
Photographs work great for this.

Psychological trick number 5: Authority

Authority involves getting prospective customers to believe that someone who is knowledgeable or famous uses your product or service. If a knowledgeable or famous person uses your product or service it must be fantastic!
The bigger the authority, the more powerful the message will be. For example doctors are authorities, especially when you get 4 of 5 agreeing with you.
Large organizations, governments, dead philosophers, mothers, and even god are authorities.

Psychological trick number 6: Greed

Greed involves taking advantage of many peoples belief that there is a secret short cut to wealth. They believe that wealthy people didn't earn their wealth. Instead they know a “secret”.
A “secret” implies a shortcut to knowledge and experience. No work in exchange for wealth is much more appealing than loads of work in exchange for a questionable outcome.

This is an excellent post that all should read before signing up for this or that trading course, dvd, alert service etc.

To your comprehensive list I would add persistence, but the manner in which the "advertiser" persists may detract or attract, so it is a fine balancing act

Charlton

 

[sulong]

Good post, Sulong. I wonder what's the catch here

No catch. It's just good to be aware of how the written word can tug our emotions one way or the other to create a desired action or reaction.
By realizing these principles exist, and readers exploited with their use, then you have one more tool to use in sifting through the BS and BS posters,and focusing on the helpful material on the web.

 

[TheBramble]

That's all well and good. But what about the one, single secret that is known to those few consistently super-successful traders which makes trading a guaranteed success for just 4 minutes work each morning and where your profits are limited only by your willingness to count them?

Personally, I only have 3 days left in which to share this age-old but hidden to most treasure with a carefully selected short-list, an uber-cadre here on t2w before the window of opportunity for me to share this with them is gone forever, but it wont be easy selecting those who are worthy.

 

[Splitlink]

Keeping the following principles in mind while reading message boards may make your journey a little less confusing by being aware when you are a target.


Psychological trick number 1: Reciprocity

Reciprocity works like this, you give someone something of value for free. That individual feels an obligation to return the favor. Reciprocity is a very powerful principle.
The trick is to create something that has high perceived value to a prospective customer, but cost you little or nothing to produce. Free information is a good example.

Great post but I have reservations about the very first one, reciprocity.

Not every one feels any obligation at all to return favours. My experience is that, in fact, once a favour has been made and taken full advantage of , there is marked reluctance to return it if it requires too much expense or effort to do so.

If I do a favour that costs me time, effort and money I usually only do it for someone close to me whom I love. I never do anything with the expectation of asking for a return favour later on, it causes me too much disappointment. I've lived a long time and have the experience of realising that the quickest way to get people to avoid me is to lend money or anything that should be returned.

If that sounds bitter, it isn't meant to be. It's just a pragmatic approach everyday life.

When a salesman approaches it is prudent to remember that, no matter what he offers he only wants your money.

Split

 

[TheBramble]

When a salesman approaches it is prudent to remember that, no matter what he offers he only wants your money.

I'm not convinced Sulong was necessarily only talking about people selling something for their personal financial gain.

There are those folk that sell abstractions with the intent of gain of equally abstract nature.

The first just costs you money.

 

[G-Man]

Great post but I have reservations about the very first one, reciprocity.

Not every one feels any obligation at all to return favours. My experience is that, in fact, once a favour has been made and taken full advantage of , there is marked reluctance to return it if it requires too much expense or effort to do so.

If I do a favour that costs me time, effort and money I usually only do it for someone close to me whom I love. I never do anything with the expectation of asking for a return favour later on, it causes me too much disappointment. I've lived a long time and have the experience of realising that the quickest way to get people to avoid me is to lend money or anything that should be returned.

If that sounds bitter, it isn't meant to be. It's just a pragmatic approach everyday life.

When a salesman approaches it is prudent to remember that, no matter what he offers he only wants your money.

Split

I interpreted the first item about reciprocity as meaning the 'information vendor' would be the one offering the return.

For example, 'I was a complete losing trader until person X made me into a trader Soros consults. As this was done for me so I am offering this to you'.

Kinda thing. Ish.

G-Man

 

[TheBramble]

For example, 'I was a complete losing trader until person X made me into a trader Soros consults. As this was done for me so I am offering this to you'.

How much?

 

[G-Man]

How much?

I'll swap for your offering in post 5.

G-Man

 

[Splitlink]

I'm not convinced Sulong was necessarily only talking about people selling something for their personal financial gain.

There are those folk that sell abstractions with the intent of gain of equally abstract nature.

The first just costs you money.

The title of the thread is called "Selling it" but, even if it's just free information, I can recall several instances when I could have been assisted by someone who, I realised later, knew something and kept quiet about it. People to whom I have, and still am, on friendly terms.
Nevertheless, I still pass on, in conversation, things that I think could help them. However, I am now more reticent than I used to be.

Nevertheless, I repeat, the post was a good one and I enjoyed it- just making a comment

Split

 

[chump]

"However, I am now more reticent than I used to be." ...I'm speechless


ok,ok I'm just starting my run for a 'funny' gong really early this year

 

[Splitlink]

"However, I am now more reticent than I used to be." ...I'm speechless


ok,ok I'm just starting my run for a 'funny' gong really early this year

OK, OK, what do you want to know?

Split

 

[starspacer]

Psychological trick number 1: Reciprocity

Reciprocity works like this, you give someone something of value for free. That individual feels an obligation to return the favor. Reciprocity is a very powerful principle.
The trick is to create something that has high perceived value to a prospective customer, but cost you little or nothing to produce. Free information is a good example.

I would go even further. Give someone something of value even when there is nothing in it for you.

This reminds me of an experience I had about 15 years ago. At the time I was working in financial services and a broker (we'll call him Pete) approached me selling an excellent product. He was clearly struggling for business but was a hard worker and honest (a rarity in financial services). The reason that his product wasn't selling was that it offered lower commissions than the competition. I genuinely liked Pete and agreed to market his product.

About a year later, I heard that Pete had left the company and thought nothing more of it until.....

About 10 years ago I relocated to a different part of the country and changed jobs. Some time after this I was trying to close a large and crucial deal with a client (we'll call him Mr X). Mr X signed the deal and I asked him what had been the clincher. Mr X said that he had spoken to a "very well informed man" from a consultancy firm. This man had apparently recommended my deal and this had been the clincher.

The man's name .......Pete.

Has anyone else had a similar 'small world' experience?

 

[ZDO]

Sulong, welcome back! Where have you been?

Some comments on an excellent post:

Back in old Esalan, the basic Reciprocity for a true contribution to one’s life started with plain sincere Acknowledgement – something quite difficult to accomplish consistently in a ‘virtual’ world. Reciprocity is more about ‘keeping the flow going’ than it is ‘returning the favor’. Turning it into ‘returning the favor’ is outright manipulation – both ways.

btw in the actual trading arena, Reciprocity goes poof and your Reciprocity better go poof with it.
In my opinion, this is one of those almost unmentionable reasons ‘Why so few succeed’ – they simply will not or can not forego their ideals related to Reciprocity.

zdo

 

[sulong]

I'm not convinced Sulong was necessarily only talking about people selling something for their personal financial gain.

There are those folk that sell abstractions with the intent of gain of equally abstract nature.

The first just costs you money.

Yes Bramble thats true.

It's probably good to remember that coin is not the only form of currency attempted to be collected. Some vender's value a following of worshipers above all else.
Nevertheless, the principles are the same, and the folks who are unaware of the principles are more susceptible targets than the folks who are aware of the trigger points.

 

[sulong]

Sulong, welcome back! Where have you been?

Some comments on an excellent post:

Back in old Esalan, the basic Reciprocity for a true contribution to one’s life started with plain sincere Acknowledgement – something quite difficult to accomplish consistently in a ‘virtual’ world. Reciprocity is more about ‘keeping the flow going’ than it is ‘returning the favor’. Turning it into ‘returning the favor’ is outright manipulation – both ways.

btw in the actual trading arena, Reciprocity goes poof and your Reciprocity better go poof with it.
In my opinion, this is one of those almost unmentionable reasons ‘Why so few succeed’ – they simply will not or can not forego their ideals related to Reciprocity.

zdo

Hey Z,

I've been around, I've just been busy doing research.
For some reason when I get to being curious about something I tend to put everything else aside until I resolve the object of my curiosity, or at least take the edge off it.

Reciprocity is one of those automatic responses we have, which is why it's exploited. This is not to say that there is never a time and place to reciprocate, just that it's a good idea to do it with thoughtful intent.

 

[Trader333]

Thanks Sulong I will now use this advice as a basis to build an internet fortune


Paul

 

[fxmarkets]

But what about the one, single secret that is known to those few consistently super-successful traders which makes trading a guaranteed success for just 4 minutes work each morning and where your profits are limited only by your willingness to count them?

Update, New Turbocharged Power Method has reduced the time and given the natural name of the Power Method now being released selectively as,

60 Second Workout.

Ohh and please weve deluxed the profit calc for free..... it announces Sh*tloads after your
60 second Power workout session.

4 minutes !!! F8ck that..... were done for the day and eatin boiled eggs in that time .

 

[sulong]

Keeping the following principles in mind while reading message boards may make your journey a little less confusing by being aware when you are a target.


Psychological trick number 1: Reciprocity

Reciprocity works like this, you give someone something of value for free. That individual feels an obligation to return the favor. Reciprocity is a very powerful principle.
The trick is to create something that has high perceived value to a prospective customer, but cost you little or nothing to produce. Free information is a good example.

Psychological trick number 2: Scarcity

Scarcity works like this: There is a limited amount of the item available. After those are gone, the item will not be available.”Urgency” implies scarcity. For example, “this offer will be honored only for a limited time.
Scarcity can be in the form of “limited number available”, “limited amount of time”,”limited number of enrollee's being accepted”.

Psychological trick number 3: Commitment

Commitment involves getting a prospective customer to take tiny steps towards a goal. For example, you might get them to request additional free information, or fill out a survey. When a prospective customer takes that first step, they have made a commitment, however tentative, towards the goal you have set out for them. They are likely to take another step.
The most common example of the principle of commitment are those long-winded full page advertisements (post?). The prospective customer invest a great deal of time reading through the entire advertisement. That investment of time represents a commitment. They are likely to take the next step, responding to the advertisement.

Psychological trick number 4: Consensus

Consensus involves getting prospective customers to believe that “everybody's doing it”. Everybody is just waiting in line to purchase your product. Everybody can't be wrong, so the product must be fantastic!
Photographs work great for this.

Psychological trick number 5: Authority

Authority involves getting prospective customers to believe that someone who is knowledgeable or famous uses your product or service. If a knowledgeable or famous person uses your product or service it must be fantastic!
The bigger the authority, the more powerful the message will be. For example doctors are authorities, especially when you get 4 of 5 agreeing with you.
Large organizations, governments, dead philosophers, mothers, and even god are authorities.

Psychological trick number 6: Greed

Greed involves taking advantage of many peoples belief that there is a secret short cut to wealth. They believe that wealthy people didn't earn their wealth. Instead they know a “secret”.
A “secret” implies a shortcut to knowledge and experience. No work in exchange for wealth is much more appealing than loads of work in exchange for a questionable outcome.

In view of the recent hostile take over of threads in the psychology forum, I thought it a good idea to review some of the more common psychological tricks used on the unsuspecting reader.
It's helpful to detach yourself from discussions and see if you can find the principles at work within the conversations.

Numbers 3 and 5 seem to have a powerful and lasting effect on people, and can, from my point of view, be seen clearly within the more popular threads.

How do you insulate yourself from these “tricks”? Good ol' fashioned objective reason is a great place to start.