BUSINESS

The Art of Persuasion: Uncovering the Psychology Behind Influential Communication.

Published

2 months ago

The Art of Persuasion: Uncovering the Psychology Behind Influential Communication.

Picture having the ability to captivate minds, imagine having the power to influence decisions and shape the course of action of those around you with nothing but the letters of the English alphabet or whichever language, and some charisma. This is the magic of persuasion. In a world choking with ideas and inventions, the ability to persuade and influence can be described as nothing short of a superpower. Some may refer to persuasion as the “art of subtle manipulation”, some may call it “toned down deception”. However Persuasion is an art, a craft, a skill, that sets you apart giving you an edge over others. It is the science of cooking words to present an idea as incredibly appealing. This age long art is the blend of logic laced with emotions that makes your purpose so desirable, others easily buy into it.

The Art of Persuasion Uncovering the Psychology Behind Influential Communication

The fulcrum of persuasion lies in guiding someone’s thoughts or actions toward a specific outcome. It involves a delicate balance of reason and emotion, logic and charisma. The study of persuasion has evolved over the centuries, attracting the wisdom of classical philosophers and modern psychology. However in this article, we will go through five practical strategies to step up your persuasion game!

Five Incredible Persuasion Strategies to Step Up Your Persuasion Game!

Understand your Audience

Understanding your audience is very crucial to any effective persuasion. It is important to know who you’re talking to, what they care about, and what motivates them. Without this understanding, your words will likely fall on deaf ears. All humans beings are primarily selfish. We gravitate towards what will most likely solve our problems without taking a lot from us. This is why any strong persuasion must stem from a deep understanding of the prospect or person. For example, it would be a futile attempt to persuade a lady whose kids are in college to buy an academic program for high school kids. In the art of persuasion, the ability to understand your audience is a foundational skill. It involves a deep appreciation of the diverse backgrounds, needs, and perspectives of the individuals you aim to persuade. Effective persuasion is hinged on your capacity to streamline your message and approach to resonate with your audience on a personal level. It is important to consider the demographics of your audience. Factors such as their age, gender, interests, education etc can influence how your message is perceived. Besides this, it is doubly essential to understand their psychology and belief system. It would be a vain attempt to convince a core African traditionalist to invest in Artificial Intelligence. It goes against his basic belief systems and values.

Pain: A proper understanding of your audience will reveal the pain your audience is experiencing and how that pain can be solved. Pain in this context need not be physical or emotional. It may be a need which your audience has. We live in a world brimming with distractions and noise, scuffling to get our attention. The result is that we easily tune out of things that don’t relate to us. However a master persuader is able to convert this to his advantage. He firsts discovers the pain his audience is experiencing, he understands the pain, lives the pain, then walks his audience through a detailed analysis of this pain. He attempts to make such pain larger than life. Following from this, the master persuader adapts his message as the perfect panacea to such “great” and “mighty” malady. A popular saying which more than half of the world appreciates is “no one cares how much you know till they know how much you care”. This is the bedrock of persuasion. Your audience is initially nonchalant towards your message/idea till they realize you deeply care about their pain/need and you want to see it resolved. This will make them care about how much you know in relation to their need.

Authority And Influence

Have you ever wondered why you stopped when a uniformed man told you to? Or have you ever wondered why you took drugs you had no idea existed simply because some random person with the title “Doctor” told you to? That was the principle of authority playing out. Authority is also why we trust the waiter’s suggestions about the food at a restaurant. We trust he knows what he’s talking about because he’s an authority on the food he serves. As individuals we possess limited knowledge. We are not omniscient, else we would become gods. The result is we often seek out expert opinion on areas where our knowledge is deficit. The interesting thing is we don’t even have to be completely bereft of knowledge in such regard. Once we come across a person who seemingly possesses more knowledge in a field of interest, we naturally defer to such person. In order to fully maximize the principle of authority in persuasion, it is important to follow these steps:

Dress prim and proper. We naturally place people who are dressed properly in high esteem. This first step will pique the interest of your audience first before anything else.
Sidestep your gain while persuading your audience. Besides being selfish, everyone looks out for what the other gains from a discourse, sales pitch, argument, etc. A master persuader however understands the technique of ascribing his views and ideas to some higher calling. He does not outrightly deny his gain, neither does he acknowledge such gain. He only places the focus on some higher purpose everyone can appreciate. Doctors save lives. Don’t they? But do they do it for free? Relate to a higher purpose both parties agree.
Don’t shy away from the weaknesses that surround your stance. Every idea has loopholes. Regular persuaders try to scream the positives of their ideas while circumventing the weaknesses that bedevil their ideas. This only belittles their authority. You show more confidence in your idea, sales pitch, etc by pointing out the loopholes associated with the concept and how other features exist to make such loopholes insignificant. The key to doing this is to admit the flaws but undermine it so critically that it seems like nothing in the face of the numerous benefits your idea poses.
Use titles and cite other authorities. This may seem ridiculous but research has proven that three out of every five persons defer to persons with titles. The good thing is such titles need not be academic in nature. Titles as “chief strategist” is a good start. Find your area of specialization and revamp the regular title so you sound like a brand! In addition to this, tie your idea to an authority your audience appreciates. This will make your idea seem larger than life. Be careful to use authorities your audience are familiar with and have regard for.

Reciprocity

Robert Cialdini in his book “Art of Persuasion” emphasized that human beings are naturally wired to return favours. Even the most malicious of persons feel some form of indebtedness to persons who have done them some good. This tool of persuasion is centered around this principle. We hate to feel indebted to people, so once the opportunity comes to repay the debt, we are often quick to maximize it. Remember that person’s birthday you strived to remember simply because said person wished you a happy birthday? That’s the principle of reciprocity in action. This principle is incredibly effective when played out properly. In order to apply the principle, you should be the first giver, that way the other party gets enmeshed in the feeling of indebtedness. Imagine you’re running a popular blog that offers readers free practical hacks to improve their lives. Based on the principle of reciprocity, your blog makes site visitors more likely to feel obligated to buy something from your site. Next time you visit any awesome personal development or sales YouTube channel, watch how you feel like you’re losing out if you don’t eventually sign up for the paid class they advertise. You can also apply this principle in your day to day persuasion. Praise and sincerely compliment your audience, co-workers, neighbors beforehand. This would make them more amenable to your concept. Remember that these principles work best when they are done sincerely and subtly. Don’t appear too artificial in your compliments or good service. Do them selflessly and watch how this principle works magic!

Consistency and Commitments

When last did you feel like a traitor because you deviated ever so slightly from a perspective you once held? As humans, we are wired to stick to our standpoints. We like to conform to whatever positive perception people have of us. This is the principle of consistency. Persuasion as an art is all about leading persons to appreciate and agree with a concept. Master persuaders are experts at doing this very subtly such that the person being led doesn’t realize what’s happening. This is usually achieved with the principle of consistency. If I have been labelled a strict christian, I definitely wouldn’t want to hang around perceived miscreants. This is because I want to be consistent with my label. To fully appreciate this, you would rarely see a diehard soccer fan deny his club even if his club experiences the worst season. In order to effectively apply this principle in your persuasion game, get the other party or your audience to agree with a minor standpoint. Something subtly related to your standpoint. Any obvious relationship will reveal your plot and ruin this principle. Once your audience acquiesces to the initial, minor standpoint, it would be difficult to retract from your idea when presented, in a bid to be consistent. For example, if you get your supervisor to agree that “Ideally, some flexibility in working patterns is a good thing”, then such boss is much more likely to agree to your proposed 4 day working week when you eventually ask for it. Commitment is another related principle that makes persuasion far easier. Get your audience to make a small commitment that appears negligible. Doing this will make it easier to get them to do something bigger. This type of behavior is consistent in the marketplace with things like introductory offers which are really cheap and easy, though they turn to a doorway for something bigger.

Leverage social proof and acceptance

Ever tried wearing a dinner suit to an afternoon beach outing? Why should you right? That’s the exact same principle master persuaders employ. No one ever likes to feel odd. Peer pressure is probably about the biggest influencing factor in the world we live in. We want to conform to acceptable norms and practices. You definitely wouldn’t opt to buy a Peugeot 504 today. Yes, the design and style is outdated. But an underlying reason we cannot deny is the fact that riding such car will make us feel out of place and sort of ridiculous. The principle of social acceptance simply entails we have to make our concept or idea socially desirable. Demonstrate that others have used and approved your idea. Employ measures that show that your idea has been accepted and is very desirable. Social proof as a principle of persuasion hinges on the principle that people will look to others around them for cues on how they should behave in a given situation. In as much as this principle is very difficult to practice, it is very possible to creatively come up with instances where your idea is seen as socially approved. A typical example of this that you definitely may have seen is that of hotel towels. A sign that says “8 out of 10 hotel guests choose to reuse their towels” is always more effective at persuading than signs that simply say “reusing your towel helps to save the environment”.

At a glance, as humans we have values, goals, and truths we uphold, and sometimes we need to make others see the light in our seemingly better truth. This is why persuasion is a concept that permeates every facet of life. Try these persuasion tips and watch how people gravitate towards your idea!

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Resilient Future: The 2023 West Africa Property Investment Summit

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Charting a Resilient Future: Insights from the 2023 West Africa Property Investment Summit

In a significant gathering of real estate influencers, the West Africa Property Investment Summit 2023, which took place on Wednesday, 23rd November, brought together leading figures from Kenya, Ghana, South Africa, and Nigeria. Under the theme “Rewriting the Narrative: Positioning & Strategies for the Future,” the summit served as a vibrant forum for in-depth discussions and strategic planning, aiming to shape the trajectory of West Africa’s real estate landscape: “Industry Leaders Chart Course For Resilient Future At The 2023 West African Property Investment Summit.”

Resilient Future: The 2023 West Africa Property Investment Summit

Resilience in the Face of Macroeconomic Challenges

One of the key speakers, Mr Tola Akinhanmi, the Head of Real Estate Finance at Stanbic IBTC, took centre stage to address the challenges posed by the current macroeconomic environment. Despite grappling with inflation, exchange rate volatility, and fluctuating interest rates, Akinhanmi’s message was one of resilience. He underscored the real estate sector’s intrinsic strength, characterizing it as a long-term asset class that provides essential business infrastructure supporting people’s livelihoods, work, and recreation. Akinhanmi highlighted Stanbic IBTC’s commitment to working closely with sponsors, understanding assets, and structuring solutions that ensure stability, allowing these assets to remain relevant through various economic cycles.

Optimism for 2024: A Balanced Outlook

Oladapo Runsewe, the Projects and City Reports Lead at Estate Intel provided a positive outlook for 2024. Citing statistics from the Nigerian Bureau of Statistics that indicated an increase in the real construction sector’s contributions to the GDP in the last quarter, Runsewe foresaw a balanced and positive effect on the market. He emphasized the inevitability of construction and development continuing, driven by the ongoing demand for housing and real estate investments. However, Runsewe highlighted the imperative for collaboration, urging industry participants and the government to join forces on a larger scale to address the substantial housing deficit, particularly in urban centres like Lagos.

Sustainability as a Driving Force

Temilola Shonola, Head of the Edge Program at the International Finance Corporation (IFC), brought attention to the importance of sustainable building practices. Shonola urged developers to embrace green building, dispelling the misconception that it is an expensive endeavour. She introduced the IFC’s free App designed to simplify the green certification process, making it accessible for builders looking to contribute to environmental sustainability. Shonola stressed that more of the market need to adopt green building practices, not only for environmental reasons but also as a means to reduce utility costs and ensure long-term impact.

Navigating the Commercial Real Estate Cycle

Pepler Sandri, the Director of Capital Markets at JLL, delved into the complexities of the commercial real estate cycle. Acknowledging the sector’s challenges and the impact of the global COVID-19 pandemic, Sandri painted a picture of recovery and resilience. He noted that Nigeria, like many other countries, faced unique macro issues affecting its recovery. Looking ahead, Sandri expressed optimism as interest rates stabilize, predicting a potential recovery in the next 6-12 months in global developed markets. However, he cautioned that Nigeria might experience a longer recovery period, echoing sentiments from Stanbic’s chief economist, who suggested a year or two before a strong trajectory toward recovery becomes evident.

Conclusion: A Call for Collaboration and Sustainable Growth

The West Africa Property Investment Summit 2023 provided an invaluable platform for industry leaders to share insights, strategies, and collaborative approaches to propel the real estate sector forward. As the summit concluded, attendees were left with a renewed sense of optimism and determination to navigate the ever-evolving landscape of West Africa’s property market. The resounding message from the summit echoed the need for collaboration, sustainability, and strategic planning to ensure a resilient and prosperous future for the region’s real estate industry. Read More

BANKING

How Kora Payment Link Helps Online Businesses To Grow

Published

2 weeks ago

softchris4ol

How Kora Payment Link Helps Online Businesses To Grow

The advent of technology with the COVID-19 pandemic has increased the adoption and popularity of online businesses. This is owed to the ability to operate small and medium-sized businesses from anywhere across the globe – which alludes to the fact that the world is now a global village: “How Kora Payment Link Helps Online Businesses To Grow.”

Therefore, there has been a meteoric increase in the number of online shoppers seeking products or services from the available businesses in the digital space.

This is evident in the emergence of e-commerce platforms that operate as an online marketplace for both buyers and sellers. It is also playing out in social commerce through the use of platforms like Facebook, Instagram, or X (Twitter) that people continuously use for their shopping experience.

By and large, online business is today a thriving venture that continues to generate a staggering income for businesses and the local economy.

One of the major perks of online businesses is the flexibility of their payments, such that merchants can offer a range of payment methods. The most common options are bank transfers or card payments, in which businesses provide their customers with bank account details to pay.

But as innovation continues to meet the evolution of online businesses, Kora is making payment strategy seamless for both merchants and their customers. This is through the Kora Payment Link.

How Kora Payment Link Helps Online Businesses To Grow

What Is Kora Payment Link?

A Kora Payment Link is a clickable link that enables business customers to complete a purchase. This is offered as a digital link, which can be used across various social media platforms, websites, or other messaging tools.

How this works is that a customer is directed to a merchant’s online checkout page to complete their transaction anytime they use the Kora Payment Link. This link can be used for both a single transaction, as in a customer invoice and for multiple transactions, as a buy button on social media platforms.

It should be noted that the Kora Payment Link facilitates simple online payments as it does not require a website or code to create and use the link. Therefore, online businesses can easily create a payment link that takes customers directly to the online checkout page of the merchant.

Furthermore, the Kora Payment Link can be used for fundraising, donation, and subscription purposes.

Benefits Of Kora Payment Link To Online Businesses

Accept Payments Anywhere

You can receive payments from your customers across the globe through the payment link that you can easily share on social platforms or websites. This is also a “call to action” strategy to compel your customers to complete their purchase with you without delay.

Keep Payments Simple

Customers do not have to log into a mobile app or website before paying. This is because they can easily click the link anytime and from anywhere to take them to the checkout page to complete their purchase.

Flexible Payment Options

Kora Payment Link provides online businesses various payment options tailored to their preferences. This can be bank transfers, payment cards, or other digital payment methods like Apple Pay or Google Pay.

Therefore, it is the volition of online businesses to design their payment links towards their preferred payment options. Hence attracting customers to complete their purchase with the knowledge that they can use certain payment gateway.

How Online Businesses Can Use Kora Payment Link

Here is a quick step for using the Kora Payment Link:

Create a Kora account and log in.
Navigate to “Payment Link.”
Enter your details and customize your link with certain preferences.
Preview your link and activate it.
Share your Kora Payment Link on social media platforms and other messaging tools.
Start receiving payments.

Conclusion

We can not overemphasize the importance of having a sustainable payment strategy for online businesses to attract more customers who would complete purchases with them. That is why Kora introduced a payment link which merchants can easily share with their customers for transactions.

Kora Payment Link is easy and free to use, and you can get started by creating a Kora account now. [site]

BANKING

How Kora Improves Cross-Border Transactions For Businesses

Published

2 weeks ago

softchris4ol

How Kora Improves Cross-Border Transactions For Businesses

Cross-border transactions are increasingly becoming popular without the concern of waiting days or transfer fees. This is due to the emergence of a fintech company like Kora, which makes cross-border payments simple, cheaper, faster, and easily accessible for businesses: “How Kora Improves Cross-Border Transactions For Businesses.”

A BCC Research of January 2023 revealed that the global cross-border payments market is expected to grow from $176.5 billion in 2021 to over $238.9 billion by 2027. The vehicle for this growth is fintech disruptors like Kora, which offers a digital platform and innovative messaging and settlement layers to improve cross-border business transactions.

How Kora Improves Cross-Border Transactions for Businesses

Ways Kora Is Changing Cross-Border Transactions For Businesses

Improved Convenience

Kora enables you to make transactions fully on its platform, unlike the traditional method of visiting physical branches. This allows you to use the platform anytime and from anywhere without a glitch.

A simple user interface and streamlined onboarding characterize this platform to simplify cross-border transactions. It means you can use Kora to receive funds from your customers or transfer with its bulk payout, multicurrency payout, or mobile money options.

Speed And Efficiency

Kora enables instant or same-day cross-border transactions, which is in the converse of the traditional settlement layers that can take days. Therefore, businesses can complete their transactions in less than one hour on this platform. You do not experience any form of delay in sending or receiving funds on this platform, irrespective of the amount. This is due to its high scalability and optimization of Kora.

Lower Fees

This platform eliminates the meddlesome of third parties like banks and agents in the cross-border transfer chain. As such, it offers a relatively low transaction fee, which is often less than 1% of the transfer amount. This is a major perk of Kora compared to its contemporaries.

Enhanced Transparency

Kora offers an advanced tracking dashboard that provides real-time access to your funds and the estimated delivery timelines. This is because the platform has state-of-the-art blockchain technology that provides complete transparency in the tracking of your funds. It helps to reconcile your income with expenses.

Security And Compliance

Kora employs features like two-factor authentication (2FA) and other security measures to add extra security layers and protect user transactions and funds. This platform is in total adherence to global compliance standards to protect users’ funds and data.

Reduced Foreign Exchange (FX) Risk

Cross-border transactions often involve multiple banks and currencies whose operations result in significant foreign exchange fees and currency volatility that create discrepancies between transferred and received funds.

This is largely the case when businesses in a particular country receive payments from another country.

However, Kora reduces foreign exchange risks that are associated with cross-border transactions by routing funds efficiently at the best exchange rate. On the other hand, Kora users can avoid foreign exchange concerns by using the multicurrency account on the platform that allows them to receive payments in currencies other than their local currency.

Conclusion

Cross-border payment is important to businesses as it enables their growth in the global market. But as digital payments continue to gain traction, there is a need for businesses to know how to leverage the technology to boost sales.

One major platform you can use for your cross-border transactions with your customers is Kora. This is due to the simplicity and scalability it offers you.

You can also start making cross-border transactions seamlessly when you create a Kora account now. [site]