Persuasion: How to Influence Others

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The Art and Science of InfluenceDaniel Crosby, Ph.D. 683-5551Influence and YouMeeting client needs- know your customerMaximizing client profits prevent irrationalityExpanding existing portfolioClient retention Work smarter runs deeper than salesGetting buy-in from team members

Power and ResponsibilityWith great power comes great responsibility - Peter Parker

The things you will learn today are real and powerful.

Prisoners Dilemma

What is the best communal outcome?How does this play out over time?if the other initially confesses?if the other initially remains silent?RECIPROCATIONPeople return kindness for kindness, and malice for maliceTranscends cultures, allows us to build societies

Client: Thanks so much for assisting me with that, it was a huge help!You: ???So What? Add value without expecting returnNot dollar for dollarMake the first moveTake action: Share your expertise, buy a cup of coffee, pass along an article, make an introduction,

Choose One

Which is the cubic zirconia and which is the true diamond? SCARCITY

People want what they cannot easily havePeople act with a sense of urgency when they perceive opportunity slipping awayWhich is more persuasive?Acting on this will provide countless benefits, such asFailure to act on this will be very detrimental to what youre trying to do, for exampleThe Art of ScarcityPeople are motivated by the rare but attainableMaking an idea, product, or behavior out of reach will prompt dismissalBe sure to connect the dots on how to get from here to thereSo what? Financial barriers to entryHighlight unique ideas and approachesMake it time-sensitiveKeep it scarce but attainableConcierge-limit number of clientsWhat do you better than anyone in the world? AUTHORITY

Milgram ExperimentSon of Jewish refugees of WWIIWanted to examine motivation of Nazi soldiers65% compliance rate90% compliance when authorities disparaged studentThe Power of ExpertiseWould you choose a cardiologist with 5 or 20 years experience?Would you choose a therapist with an M.S. or a Ph.D.?In teams build one another up Individually humility and confidenceThe Art of AuthorityAll products, services, and ideas have weaknessesIndividuals find experts who acknowledge weaknesses more credibleImmediately follow coverage of weaknesses with discussion of strengthsPromote believability and open the door for your strongest points to be heardSo What? What qualifies you to handle my money? Ground yourself in firms expertiseMatch expertise to pain pointsHow can you build up others?How can others build you up?Do marketing materials reflect expertise?


We want to be seen as consistent We want others to be consistent cognitive shortcutsWe devalue other decisions post-choicePower of CommitmentInitialChoice123456Commit132546Amnesia132546Foot in the Door

California housewives - five minute surveyThree days later Can six men spend two hours rummaging through cupboards?More than 2x as likely to consentPower of Labels

Homogenous group with respect to grades and behaviorRandomly assigned as poor, fair, or giftedArbitrary category was the best predictor of final gradesPower of Labels

Rosenhan Experiment12 subjects, 5 statesHearing thudAll given Dx and RxSome incarcerated for monthsNot a single subject was discovered by doctorsDiscovered by fellow patients

So what? Initial commitment is the hardest!What committed clients might make a larger commitment?Determine a small initial commitment for prospective clients.Who do you want your clients to be?How should you treat them as a result? Asch Experiment


The Asch ExperimentMost people are followers Another cognitive shortcutThis is our most popular dish.Leverage the Unseen They

Influence the InfluentialHard truth: The merit of an idea does not predict its adoption rate as well as its adoption by influential others does. John Lancaster invented a cure for scurvy that took 200 years to catch on.The most influential people in a group are usually slightly more gifted than the masses, but similar in other important ways.So what?RS Funds Alignment with ClientsMost popular offeringsPopular offerings for specific subsetsNarrative for similar clients


We are most easily influenced by peoplethat we like.the we perceive to be like us.What assumptions do you make? Who do we like?Physically attractive halo effectPeople who pay us compliments sincere or otherwisePeople who make us laughPeople with whom we share a common struggleBe a Detective of Personal Brands

People brand themselves in myriad waysCars, clothes, haircuts, pictures, relics are all peoples attempts at being understood on their own termsFind and build on similaritiesTake an interest So what? Matching beard, broker tieDress the partPay sincere complimentsEmphasize common strugglesDiscover and build on common beliefsConnect around common interestsLived Learning SystemNothing that is worth knowing can be taught. Oscar WildeIf you hold a cat by the tail, you learn things you cannot learn any other way. Mark TwainChallenge: Apply learning by completing weekly challenges over the next month and a half.