Business
We need to change the way we sell. We can't sell our products anymore. There are two many products but there are not enough solutions. Buyers have problems and they need solutions but not in the way you think you need them. We need to change the message in sales to get buyers to change vendors/product. Salespeople tend to focus on the gain by asserting to the customer that they will save $x money (but this isn’t the best way to create change or motive a buyer to take a risk, i.e. buy your product). Salespeople should shift focus to the loss, which motivates people to be more risk-seeking/risk-taking to improve their situation. So rather than claiming (A) “we can save you 10% (framed as a gain), you should claim (B) “you are spending 10% more than you should be (framed as a loss). In this episode, we talk about prospect theory and how it can help you move from product selling to solution selling.