The JOLT Effect - with Matt Dixon, Author

Highlights from the Metrics that Measure Up Podcast Episode with Matt Dixon

Welcome to the Metrics that Measure Up Newsletter! Get ready to dive into why so many opportunities result in no decision with best selling author Matt Dixon!

Unleashing the Jolt Effect: Lessons from Matt Dixon's Journey

We had the pleasure of hosting Matt Dixon, author of The Challenger Sale, The Challenger Customer, and now he adds The JOLT Effect to his list of best-selling books for B2B Sales professionals. From being mistaken for a spy by his own parents to living life as a sales anthropologist, Matt's unique perspective and research-driven insights on what makes B2S Sales professionals successful are bound to leave you inspired!

FOMU: The Secret Sauce to Overcoming Buyer Inaction

Picture this: you're in the midst of a sales pitch, and the buyer seems hesitant, firmly rooted in the status quo. Matt’s research is here to equip you with the most potent weapon in your arsenal: overcoming a buyer’s FOMU - Fear of Messing Up! Discover three techniques to help buyers overcome FOMU that will have buyers committed to pulling the trigger on purchasing your solution and turn those Closed-Lost no decisions into resounding YESes!

Matt reveals the secret behind using anti FOMU tactics and how they can make or break a sale. He warns against the pitfalls of relying on flashy product features, the promises of missed opportunity or resorting to the tactic of using the fear of missing out. Instead, he guides us on a journey to strike the perfect balance, creating a sense of urgency without overwhelming the buyer. Get ready to counteract the impact of FOMU!

The Surprising Truth Behind Closed-Lost No Decision Losses

Have you ever wondered why some deals end up lost to the abyss of indecision? It's not just about buyers being content with the status quo. Fear of failure takes center stage, creating a mix of emotions that paralyzes decision-making. Armed with this knowledge, you'll be ready to dismantle those fears and guide buyers toward confident choices.

Three Reasons for Customer Indecision: Conquer Them Like a Sales Rock Star

Matt peels back the layers of the no-decision mystery and uncovers the driving forces behind it. Let's dig deeper into the minds of customers and uncover the three factors that haunt their decision-making process. Are they worried about making the wrong choice? Do they drown in an ocean of information overload? Or perhaps they fear falling short of expectations? 

Matt dives headfirst into three reasons why buyers often remain uncertain on how to move forward. He provides practical tips and techniques to address each of these fears, helping every sales professional become a sales superstar. By learning how to guide customers in making the right choice by highlighting the unique value your solution brings to the table. Discover the art of providing just the right amount of information, avoiding overload while instilling confidence. And most importantly, master the art of setting realistic expectations and assuring customers that you have their back every step of the way. Say goodbye to buyer indecision and hello to a new customer!

Valuation Problems are highlighted by having too many choices and it being hard to determine which solution is best positioned to address the challenges of the current state and have the highest probability of achieving the outcomes that were used as the basis for the purchase decision and investment

Lack of Information is the buyer continues to think they need more information before they can make a decision that is most likely to end in success versus failure, where failure is the #1 concern of most buyers. This invokes the fear of "omission bias" which is a powerful human need not to experience blame because of a decision they make. "FOMU" which stands for Fear of Messing Up is a much more powerful emotion than Fear of Missing Out, the tactic that many B2B Sales professionals often use to incent a positive purchase decision.

Outcome Uncertainty is when the buyer is concerned that the actual return on investment will be hard to achieve, and they are better served to maintain the "status quo" versus not achieving the ROI they projected to justify the purchase. Sales leaders can manage "outcome uncertainty" by effectively setting expectations that are not overwhelming or hard to believe by the buyer. The simple concept of underpromising and over-delivering leads to an increased win rate from 20% to 51%. 

The Balancing Act: Active Listening and Offering Recommendations

It’s normal for buyers to show their indecision- it just matters how you react! In fact, in 87% of sales calls buyers exhibit moderate to severe indecision. Judging the reason for indecision first requires "active listening". Then, by using the technique of "ping and echos", which is the strategy to proactively offer up potential reasons the buyer has the fear to make a decision, and then see how they respond is a good way to unlock why the sales cycle could stall, and result in a closed-lost no decision.

When it comes to "Offering" a recommendation, the research shows an increase in win rates from 14% to 36% when a B2B Sales professional diagnoses the buying concerns and then offers a recommendation to overcome the FOMU, versus not providing solutions to address the reasons for not making a purchasing decision.

Elevate Your Sales Game: Applying the Insights

Now that you're armed with the secrets of buyer psychology, it's time to put them into action! If you would like to listen to the entire conversation with Matt Dixon, click here. Stay tuned for more updates and interviews with B2B SaaS industry! Don't miss out—subscribe to the Metrics that Measure Up Newsletter by subscribing below.

Until next time,

Ray Rike