HTSS81 - Objections in sales and the Gamblers fallacy - Scott Sylvan Bell

<p style="text-align:center;">Objections in sales and the Gamblers Fallacy Problem</p> <p>When it comes to buyers making decision and giving you objections you may be dealing with a Gamblers fallacy or another version of it. The Gamblers Fallacy is where someone makes there decisions based upon erroneous information. The information used is biased because of previous outcomes that are not standard.</p> <p>A Gamblers Fallacy does have implications on decision making and or objections. Your buyer may decide to make poor decisions and then defend them even in the face of good information.  They could have made a purchase with bad products and services and even leave good reviews. There is a certain level of justification even with poor quality or service. The buyer has to protect their decision. This is a combination of gamblers fallacy and a form of protection for the buyer.  </p> <p>The buyer may use catch phrases is something like:</p> <ul><li>We spent so much to get here it would be shame to waste the money</li> <li>Things will get better, I know they will</li> <li>I just have to get the most out of the situation</li> <li>I don’t want to lose what I have already done</li> </ul> <p>A company or person could keep bad employees of every type, bad consultants, services or even products.  There is the fear that if the wrong decision is made they will look bad or that their ego is pressed enough that they are overpowered with certainty.</p> <p>Some of this is logical, some of it is emotional and some of it is egotistical. People do buy on emotions and then they justify with logic.</p> <p>Your buyer may do a few things in order to go with a bad decision or a bad purchase:</p> <ol><li>They may make bad decision based upon the risks they have taken with good outcomes. They have not been “bit” by the bad decision they have made so they keep rolling the dice sort of speak. There is a danger out there but they believe they are immune to the outcome and it will not hit them. There is an element of bein