This Is The Biggest Objection To Selling Anything…

📅  20th February 2018 | Selling

…as I explained to the delegates a few days ago at The National Franchise Exhibition at the NEC in Birmingham   – it’s not the colour of your product, your various competitors, the price (it rarely is) nor is it your ability to present your value propostion in a persuasive manner.

Standard sales training or sales coaching may not help you overcome this issue but understanding your customers minds will.

The phenomenon I’m referring to is something called the Status Quo Bias.

Your buyer would rather stick with his or her current supplier, than go through the rigmarole of changing providers and run the risk of things going pear-shaped.

In the last century, the term “noboby ever got fired for buying IBM” sort of sums up the status quo point.

A sister of the status quo bias is something called the Least Effort Principle. I describe it here:

 

 

Tags: behavioural economics, psychology

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