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.
Societal upheaval over the past year has profoundly changed the buyer’s journey. Beyond mandates and restrictions, buyer behavior has been influenced by declining levels of trust in government, institutions, and other people. The result is that buyers have become less trusting and more firmly rooted in their beliefs.