| The Status Quo Bias;Why Customers Deviate | The Status Quo Bias | Why Selling New Technology in Hospitals is hard:Overcoming Staus Quo Bias | Meet Your Real Marketing Enemy:Buyer Inaction | 3 Powerful Ways to Sell Against the Staus Quo |
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What is Status Quo
Your biggest competitor is not another company, it is this.
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what is negative emotion?
Trying to make a choice between safety and economy makes you feel uncomfortable
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What is staus quo bias?
A non- rational decision based on an emotional preference, not an objective judgement that the newer technology ia as good or better.
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The concept of a buyer or customer's values being stable and entrenched making them more likely to cling to their status quo situation or current clinical practices is an example of what?
What is Preference Stability
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What is your biggest competitor with your customers?
What is the Status Quo
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What is counteract the optimism with a baseline reality check and complete a risk assessment of the status quo.
To help customers see the value of change, sellers can counteract these negative biases py performing these 2 things.
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what is status quo alternative?
The choice customers make when they decide not to ourchase anything ar all and " make do" with what they have.
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What is loss aversion?
This is an example: "better the devil you know than th devil you don't".
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According to the author, one of the most striking ways you can dislodge your customer's status quo is by telling your customer something they already didn't know about a problem or deficiency is called what?
What is/are the customer's unconsidered need(s)
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What is one of the most powerful tools to appeal to a customer's emotions?
What is "Telling a Good Story"
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What is optimism bias?
a well documented cognitive bias where individuals over estimate their own abilities relative to others.
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what is the status quo bias?
The attractiveness and popularity of the status quo alternative is a curse which bedevils salespeople.
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What is transition cost?
Its not the just a matter of buying the product, its also all the cost ( time and money) involved in switching from what they are using now.
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Basing your story on your buyer's unconsidered needs, you can destabilize your prospect's preferences, which accelerates decision processing and opens them up to?
What is Persuasion
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The right story is often more effective at shifting someone's perspective than what?
What is "A Fact driven argument"
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What is "loss aversion"?
Customers are not fair in the way they weigh gains and losses for change , it cause them to give too much weight to losses.
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What is "make do" with what you have, continue to search and select the dominant alternative?
These are the three primary staus quo alternatives.
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What is 1- Uncertainty,2- Transition cost and 3- Minimizing regret.
These are three big explanations for status quo bias.
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RE: Cost of Action/Change- Making change more compelling to customers comes down to identifying and quantifying the cost of inaction and then adding the cost of the gain of change in order to sharpen the contrast between what?
Where they are today and where they could be tomorrow or What is the difference between current clinical practices and new clinical practices.
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A story that highlights the pain of postponement or status quo is an example of what sales concept.
What is The Law of Loss
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What is buyer's confirmation bias?
To protect their self esteem and guard themselves from the risk of change, this motivates them to select evidencein favor of the staus quo and ignore or reject evidence supporting change.
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What is relieving negative emotions aroused by competing valus in the decision?
Sales people attribute many causes for going with the status quo but there is one primary reason they do.
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What is 1- Connect emotionally, 2- Recalibrate their status quo, 3- Reduce their risk , and 4- reframe transition cost?
These are four ways to overcome staus quo bias.
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A concept in the sales context in which buyers are overwhelmed by information. As a result, they perceive change to be too abstract and unmanageable to realize?
What is Choice Overload
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How do you identify the true underlying fear with your customers?
What is Discovery or Open Ended Questions
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