The Power of Habit

Let’s talk about smashing those sales goals. You know the drill: cold calls, demos, objections, the endless grind. But what if I told you there’s a secret weapon hiding in plain sight? It’s not some fancy CRM or closing tactic – it’s understanding the power of habit.

Charles Duhigg’s book , “The Power of Habit” isn’t just some self-help fluff. This book breaks down the science of habit formation, and trust me, it’s a game-changer for sales. Here’s how we can apply to selling merchant services:

1. Identify the “Habit Loop” of Your Prospects:

Duhigg talks about the “habit loop”: Cue, Routine, Reward. Think about your average merchant. What’s their cue to think about payment processing? Maybe it’s that clunky old terminal, reconciling monthly statements, or dealing with chargebacks. Their routine is likely sticking with the status quo, even if it’s costing them money. The reward? Avoiding the hassle of change.

Your mission? Disrupt that loop. Become the new routine by offering a better reward:

• Cue: Target businesses with outdated technology or those clearly struggling with their current provider.
• Routine: Position yourself as the expert advisor, offering a seamless transition and ongoing support.
• Reward: Highlight the benefits – lower fees, faster processing, increased security, and valuable insights.

2. Hack Your Own Sales Habits:

Let’s be honest, we all have bad sales habits. Procrastination, relying on the same tired pitch, neglecting follow-ups – sound familiar? “The Power of Habit” shows us how to break those cycles:

• Identify your bad habits: Track your daily activities and pinpoint areas for improvement. Are you spending too much time on low-potential leads? Are you avoiding those tough conversations?
• Find your keystone habit: Duhigg argues that one “keystone habit” can trigger positive changes in other areas. For sales, this could be consistent prospecting, meticulous CRM use, or mastering a new closing technique.
• Replace bad routines with good ones: Instead of dreading cold calls, reframe them as opportunities to build relationships. Instead of winging it, practice your pitch until it’s flawless.

3. Build Habit-Forming Solutions for Your Clients:

The stickiest merchant services solutions are the ones that become ingrained in a business’s operations. Think about:

• Recurring billing: Make it easy for clients to automate payments and reduce churn.
• Loyalty programs: Help them build customer relationships and encourage repeat business.
• Data analytics: Provide valuable insights into their sales trends and customer behavior.

By offering solutions that become essential habits for your clients, you’ll not only close more deals but also build long-lasting partnerships.

“The Power of Habit” is more than just a book – it’s a blueprint for success. By understanding the science of habit formation, you can influence your prospects, optimize your own performance, and build lasting value for your clients. So, grab a copy, dive in, and get ready to crush your goals!

The Power of Habit can be found on Amazon, Kindle and Audible.

Happy Selling,

David