Maximizers vs Satisficers: Find Out Which You Are

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I'm Nick Reese and today on Nick Reese, we're going to talk about two different decision styles and how they impact you as an executive freelance or a consultant. Keep watching. Imagine you're at your favorite store and you're shopping for that item you've needed to pick. Imagine, just as you walk inside the door you find the perfect item. It's the right color, it's the right price, it's the right size. Do you buy the item or you consider looking for other options? Take a moment, answer the question. I'll wait. Let me explain why this question is important. You see, as a business owner, when a customer comes across your marketing or your website, they're asking themselves the same question. When I call this person up, do I hire this person or do I continue shopping? If you are a person that thought that you should be looking for more options, you're what scientist call a maximizer or you have maximizing tendencies. What this means is you want to look for the best possible solution in any situation. Satisfaction is on the other hand. To make decisions quickly land effectively. They understand that our brains are always making tradeoffs between being as accurate as possible and being as efficient as possible. Satisficers like to be efficient, they like to pick the first item that meets their needs. If you're walking down the toothpaste isle and you see that there's 40 different options, you realize that there's ... it's toothpaste, it's pretty much the same thing, I'm just going to pick the first one that meets my needs. If you're that type of person, you have satisficing tendencies. Maximizers and satisficers have different psychological profiles. Maximizers, while they do get better results, they struggle psychology. Because they compare so many items, they see that there are other options out there and this means that they know what they're missing. Maximizer are more likely to have an experience, buyers are more ... they're more likely to experience regret and they're not as satisfied with making decisions. Satisficers on the hand always are looking for a quick way to make a quick decision. They like satisfice. They may not get as good of results as maximizers, but generally they are more happy psychology and more satisfied with their decisions. Everyone has both satisficing and maximizing tendencies. Here are three quick tips to help you make more sales online. The first tip is to give your audience any reason to satisfy. This is the reason that testimonials, video testimonials and consumer reviews work so well. Look at Amazon for instance, 99 reviews with 4.5 stars. It must be a pretty good product. I'm able to satisfice because I can trust in the reviews of other people. My second tip is frame the decision for people. This works especially well if you're selling a high priced product. On high price product people are more likely to have maximizing tendencies. Tell them what a good decision looks like. Tell them how this making this decision in a proper manner by going with your company while actually you help them live a better life. Frame the conversation for them and make sure that they know what it looks like to make a good decision. The third tip is give them reassurance. People like reassurance to know that they made the right choice. This can be as simple as giving them a quick phone call thanking them for their business. Whatever you do, make sure that you're reassuring people that they have made the right decision. If there's one thing you take away from this video it should be the idea that our brains are always making a tradeoff between accuracy and effort. This is the reason you should give your customers any excuse to make an ear business a no brainer. After watching this whole video, you're probably wondering whether you're a satisficer or if you're a maximizer. There's actually a simple six question quiz that you can take to find out whether you have more maximizing tendencies or more satisfying tendencies. Go to nicholasreese.com/decide and take the quiz. It only should take you about 45 seconds at most and you're going to find a lot about yourself on how you make decisions. If you like this video make sure to hit the thumbs up button and the subscribe button. Plus, if you're interested in more exclusive updates that I only share via e-mail, venture on over to nicholasreese.com and enter your name and your e-mail and click get updates. Until next time, I'm Nick Reese and whether you're a consultant, freelancer or executive, remember, you're not alone on your journey to success. Keep your head up and keep looking for tiny tweaks that can make massive results in your business. See you next time. Back in 2006 ... Back in 2006 ... is this helicopter too loud? Let's have some fun.
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Channel: Nick Reese
Views: 11,878
Rating: 4.9148936 out of 5
Keywords: psychology, small business, internet marketing, maximizer, satisficer, marketing, consumer psychology, happiness, decision making, better decisions, how to make decisions, maximizing vs satisficing, types of decision making processes
Id: UqDrIfXSSu0
Channel Id: undefined
Length: 4min 37sec (277 seconds)
Published: Wed Sep 11 2013
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