Selling Change Is Hard: Status Quo Bias Locks Customers In A Prison Of No Decision

 

The value to buy your product is overwhelming and yet the customer decides not to buy. At times like these, it’s important to remember that customers are not rational decision making machines. They are human beings with built in cognitive biases that make them highly resistant to change. The status quo and optimism biases, for example, prevent customers from making the sensible decision to buy your product. To sell change, salespeople must not only climb a mountain of fear to get past the status quo bias, but they must also cross a valley of indifference to overcome the optimism bias. This is why selling change is so difficult.

Until salespeople improve at opening the gap with “WHY CHANGE,” they will struggle to close the gap with “WHY US.” Without a compelling reason to change, customers will stick with the status quo and “no decision” will continue to be your biggest competitor. To help customers buy, salespeople need Change Stories and Questions so that they can inspire customers to step into growth instead of back into safety.

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A story about a CEO who helps a tactical VP of Sales scale the business.

I remember when the CEO invested in what I, the VP of Sales of a mid-sized company, felt was a foolish amount of money on a new Marketing Director. But what really bothered me, was what  the new position represented, change.

Although my sales team was exceeding quota, the landscape changed. And I knew if I didn’t change, I’d get run over.

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How salespeople inspire customers to invest, not resist, with stories.

Although the value of your offering is overwhelming, customers resist. Why?

More important, how will you get past this irrational wall of resistance, and make the sale?

Not only will these questions be answered, but more important, you’ll receive a complimentary guide with simple and practical steps that you can start using today, so that you can inspire our customers to step out of the status quo, take action, and invest through you into a better tomorrow.

Overwhelmed Buyers

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The Challenger Sale: How to avoid upsetting the customer.

To find out how to challenge the customer’s thinking without challenging the customer, I asked Matt Dixon, co-author of the Challenger Sale and Executive Director of the Corporate Executive Board, for the answer. (Click here for video interview).

Q: How do you challenge the customer’s thinking without challenging the customer?

A: If we’d found that The Challengers were obnoxious and aggressive; we’d have called them The Jerk not The Challenger.

Q: Are stories the most effective way?

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How to sell without being a jerk so that you can take your foot off the brake and hit quota.

According to Sales Benchmark Index, only 57% of salespeople achieved quota in 2011.

Why? Did they lack motivation or a sense of urgency? Well, according to a recent study, only 1 in 7 seriously at risk heart patients were able to follow through and make the “change or die” lifestyle changes- diet, exercise, and no-smoking. That’s right, only 1 in 7.

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How to attract sales leads- not chase them- with killer marketing content.

In an interview with Ann Handley, Chief Content Officer of Marketing Profs (360,000 members and the largest community of marketers in the world) and co-author of Content Rules, she talks about the need to create killer marketing content so that you can attract sales leads instead of having to chase after them.

The three takeaways from the interview are:

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McKinsey Study: Solution Selling… is the pain worth the gain?

Solutions selling has been all the rage over the last 5 to 10 years, yet 75 percent of the companies that attempt to offer solutions fail to return the cost of their investment.” (Source: ‘Solution Selling: Is the pain worth the gain’ McKinsey Study).

Even the author and founder of Solution Selling & CustomerCentric Selling, Mike Bosworth, agrees.

“The number one complaint I heard from sales managers was that the bottom 80 percent of their salespeople quit trying to use the methodology within 10 days of the workshop.” (‘Mike’s Ah-Ha moment’ Sept. 2011).

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Selling to Emotional Buyers, Not “Mr. Spock”

There’s a tendency for salespeople to concentrate on logic because they feel that emotions are too flaky to have any real importance on a buying decision. But economists have recently embraced the idea that irrational psychology, rather than cool calculation, plays a significant role in buying decisions.

Skeptical salespeople may be interested to hear that it’s now scientifically proven that emotions play a big role in decision making. Emotions generated through negatively framed decisions, for instance, can affect how we decide by as much as 44%.

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Stories help overwhelmed Buyers to overthrow the status quo, and buy.

With 150 e-mails a day, 30 voice-mails and 60-80-hour work weeks thanks to corporate reorganizations, buyers are so busy today that in order to survive they have learned that they can’t do it all. Consequently, buyers now often stick with the status quo—even when it hurts the company.

Logic Doesn’t Help

Product Pitches, Value Propositions and Logical Arguments do not convince a buyer in denial to change.

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VP of Sales Story: Board wants sales quick fix or else.

Here’s a story about Paul, a VP of Sales at Software Inc., who has unfortunately inherited a sale cycle that drags on forever. That’s when deals happen. But most of the time, his team loses to their biggest competitor, the customer sticking with the status quo.

The Board at the Software Inc. hopes that he’ll fix things fast, but if he doesn’t, he’s toast.

But Sales Training and Marketing wasn’t going to save him. Continue reading…

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New Business: Mission Impossible?

When Buyers no longer answer their phone and your voice and e-mails get deleted, how will you win new business so that you achieve quota?

Well, if you accept that going back to basics and smiling and dialing won’t take you where you need to go, don’t despair.

But before I show you how to win new business, let’s first take a fieldtrip to a typical Buyer’s office Continue reading…

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