Encouraging prospects to change their behavior is one of the greatest challenges facing marketers and sellers. Behavioral economists call this phenomenon “status quo bias.” How can sellers overcome this inherent yet irrational desire to keep something the same, even if it’s less than optimal?
The biggest gap between sellers and buyers is a shared understanding of a solution’s value. This gap leads to long sales cycles or worse, deals that just fade away. Overcoming this chasm can be accomplished using value selling tools, which function as a Rosetta Stone to unlock insights for both sides.
Wonder why your buyers and sales teams aren’t using your value selling tools? Chances are they’re built around a product-centric value proposition and creating unwanted complexity, despite your best intentions. Here are two strategies for fine tuning your value selling tools and increasing adoption.
In B2B buying decisions and consumer purchases, humans do not always make optimal or even rational economic decisions, as predicted by Rational Choice Theory. If this is true, why do we continue to preach value-based selling? The fascinating and evolving study of Behavioral Economics may hold the answers.
Why would a company abandon its existing value selling tools after investing in their development? The answer is often simple: the tools are too complex and the sales team won’t use them. To better understand how to deploy more effective value selling tools, it is first important to understand how and why they are too complex.