Cognitive Bias 4 of 25: Doubt/Avoidance Tendency

Doubt is perceived as a type of pain, in our brains. It is to feel uncertain or to have fear for the future. People try to avoid doubt if they can. In buying scenarios we avoid the doubt, of potentially making a poor decision, by acting fast. We know that if we act fast that we can just avoid the negative feelings that come with doubt all together. The only catch that comes with these poor decisions is a hit to your confidence. If you make enough bad decisions, you will doubt yourself and wonder if you will ever be able to make the right call. The doubt, in your mind, gets transferred to doubt in yourself. Ultimately, it is best to avoid hasty decisions all together.

What to Look Out For

Doubt tends to make us cut out time, in our decision making process. Hence the classic impulse buy scenario. My sister and I joke all the time of how she'll go to Target to get a few items and leave with 14 extra things she didn't plan on buying. Big box retailers are set us so well that they know how to get impulse buys. Look out for impulse buys! They will get you to spend money on things you don't even need. Look out for deadlines, for sale prices, because those create urgency which push us to make quick decisions. More times than not your item will go on sale again. Corporate stores don't have as much flexibility but just know that, if you work with a salesman, and they tell you this deal is for today only; they will honor it tomorrow to earn the business. No one, in their right mind, would turn away business for being a day late.

How to Combat this Tendency

There are a few ways that you can protect yourself from falling victim, to this doubt tendency. First, any big purchase you need to put a timeline, for the decision. Adding this timeline will prevent you from making the impulse buys. Second, get a minimum of 3 price quotes. Keep your seller competitive by having them compete against the guy down the street (very powerful tactic to get the best pricing). Third, make shopping lists to avoid smaller impulse buys. That way you will not fill your cart with so many unneeded items (maybe only one or two... alright 3 but that's it!). Four, add items at a later date. If you are being sold hard on some warranty you know you aren't going to need then ask "how long do I have till I can add this?" The majority of the time you have a few days which gives you ample time to make the right decision.

How to Utilize this in Sales

Realize that people are prone to this tendency. It is best to strike while the iron is hot. You will be able to create urgency with the close with a 'now price.' Make sure to keep the takeaway close in mind! It can help you place doubt, in your client's mind, while creating ownership. Everything does not have to be perfect to get a deal done. A common sin for a salesperson is to try and make it perfect. Sometimes all it takes is getting someone to a 8 or 9 out of 10. Once you realize that your client's confidence, in value, is higher than that price, ask for the sale. You will get some great success with this. People want to have encouragement that they are making a great decision. If you truly believe they will benefit from your product or service, then compliment them and reinforce the decision!

The doubt tendency is one of the trickiest to overcome, if people are highly aware of it. Having a 100% money back guarantee or price match guarantee will help you immensely. You can ease the fear of best deal doubt by having one of these. Some verbiage to increase confidence would sound something like "I understand that you want the best deal. I'm right there with you. What we have here is a (money back guarantee or price match guarantee) where if you find a better deal or are not 100% satisfied, we will refund that money or get you something that would fit your needs more."

Have you ever made an impulse buy that you ended up regretting? If so, what was it and what caused you to make a hasty decision?

-Cody