The Jolt Effect authors Matthew Dixon and Ted McKenna discovered a challenge most sales teams and salespeople are unaware of.
It’s dramatically eroding sales conversions.
Dixon and McKenna believe many salespeople are focused on overcoming what’s been the biggest sales obstacle, the “customer’s status quo.” It’s a formidable enemy—one that salespeople lose to all the time because human beings have a deep-seated bias for things to remain as they are.
What happens when the customer agrees that the status quo is unacceptable, that your solution can help them attain their objectives, their whole buying committee is on board . . . and you still lose?
Dixon and McKenna found anywhere between 40 percent and 60 percent of deals today end up stalled in “no decision” limbo.
Across all the deals Dixon and McKenna studied, only 44 percent of deals ended up lost to inaction due to the customer’s preference for the status quo—either not believing things are bad enough to change or not agreeing the vendor’s solution represents a more compelling alternative.
But 56 percent of the time, the customer expresses a desire to abandon their status quo and move forward in a new way with the vendor’s solution but, for one reason or another, is unwilling or unable to decide and commit.
Trying to Solve the Wrong Problem
When customers balk and start to get cold feet, sellers tend to go back to the well. They assume it must be because they haven’t successfully overcome the customer’s status quo.
Why is Customer Indecision so Dangerous?
Overcoming Customer Indecision - The “Lead Steer Effect”
Researchers refer to this as the “lead steer effect”: the leaders in the group change direction as they spot new obstacles and opportunities. The rest of the herd follows. If you want to know what everybody will be doing in the future, look at what the leaders are doing now.
The Jolt Effect’s research team used machine learning to study millions of sales conversations across industries.
The result: a new playbook, based on four unique behaviors that high performers use for navigating and overcoming customer indecision.
This is what the authors call the JOLT method. It’s purpose-built for overcoming customer indecision.
To create an environment where everyone is inspired to give their best, contact Positioning Systems today to schedule a free exploratory meeting.
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NEXT BLOG – Judging Buyer Indecision