💎Most tech companies don’t know who their biggest competitor is …
I’m sure you can name a few companies you lose deals to …
But for most businesses, a far bigger competitor is actually:
Status Quo Bias
‘Status Quo Bias’ is your prospects’ inability to make a buying decision, even if they know that your service will help them.
Excellent sales and marketing techniques focus on helping your prospect over this natural mental state by inspiring a decision quickly, in a way that has them feeling empowered.
Assuming your service is excellent and will over-deliver on value, this is both ethical and important.
Because once their decision is made, the new client gets to experience the benefits of your service now, rather than waiting months to finally take action.
A few tips for overcoming ‘Status Quo Bias’:
* Help your decision-maker get crystal clear on their pain points and bottlenecks. Once there is clarity on their pain points, they’ll be much more motivated to make a buying decision.
* Add more value to your service. At the end of the day, if they can afford it but they aren’t making a buying decision … it’s because they don’t believe you are bringing enough value to the table.
* Find more suitable prospects who will value your service more due to the size of their business or the nature of their work.
* Give decision-makers the option of buying a smaller piece of the service. That way they can see results upfront and build initial trust with your team before making the full buying decision.
