Business Development Scarcity – Episode #213

by Richard Wilson on September 2, 2011

The following video is borrowed from our platform and was originally recorded for our business development training program.   In this video, I explain how you can use the scarcity principle of influence and persuasion in business development.

Video Transcript/SummaryThe strategies and tips provided within this video module include:

  1. Scarcity is the psychological principle that shows that if you go to two different websites that offer the same product, you will be more likely to buy one that is seen as more limited or rare.  
  2. Offer a product that has a limit or otherwise appears scarce.
  3. Never lie or create false scarcity.
  4. Create products and services with embedded scarcity.
  5. Make sure that you create the emotion and excitement upfront and down the road you can use the scarcity principle to close the sale.    
The scarcity principle can be an effective way to increase sales and make your business more successful.  I hope that this video has shown you how you can effectively leverage the power of scarcity in business development.   

Thanks for joining us, and I will see you again soon,

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