It was 12 years ago when I first read The Challenger Sale. From that day forward, I had a much more effective framework for enterprise selling.
Matt Dixon is back again with a new book, The JOLT Effect that shares how to overcome the most common reason for deal loss — indecision.
It’s packed with invaluable insights to reshape several crucial aspects of sales strategy.
Highlights
🔸 Why dialing up FOMO doesn’t work, and what to do instead
🔸 Why FOMU (fear of messing up) > FOMO
🔸 Why 40% to 60% of qualified sales opportunities are lost due to customer indecision
🔸 The JOLT method for overcoming indecision
🔸 The “pings and echoes” technique to catch issues early
🔸 Key lessons from The Challenger Sale
🔸 Practical advice for how to apply these principles to close more deals
Below are some actionable protocols for sales teams to elevate the game:
- Challenger Salespeople Lead the Pack One of the standout points was the concept of being a "challenger" in sales. Instead of merely responding to what keeps customers up at night, the best salespeople anticipate what should be keeping them up. They leverage their extensive experience and insights from working with similar clients to teach and guide their customers. This proactive approach not only builds trust but also positions the salesperson as an invaluable resource rather than just a vendor.
- Battling Customer Indecision A staggering revelation was that most deals are lost not to competitors but to indecision. It's not that customers are choosing a different software; they're often choosing nothing at all. This insight was a game-changer for me, highlighting the critical need to address and alleviate customer hesitations decisively.
- Understanding the Three Major Fears of Customers The podcast dissected the three main fears driving customer indecision:
- Fear of making the wrong choice: Concerns about solution configuration, contract terms, and integration can paralyze decision-making.
- Fear of discovering something negative post-purchase: Unfavorable reviews or unexpected issues can haunt customers.
- Fear of not realizing the expected ROI: The potential for reputational damage or job loss looms large if the investment doesn’t pan out.
- From Questions to Confident Recommendations Another profound lesson was the shift from asking customers what they want to making confident recommendations. While options are beneficial initially, they can become overwhelming. The analogy of a waiter in a high-end restaurant hit home: instead of asking vague questions like “What are you in the mood for?” effective salespeople guide customers with well-justified recommendations. This approach not only simplifies the decision-making process but also shares the burden of potentially making a wrong choice, which customers greatly appreciate.
Take Control
If you’re serious about refining your sales strategy and overcoming common obstacles, I highly recommend tuning in to Matt’s frameworks. It’s not just about learning new techniques; it’s about fundamentally changing the way you engage with and support your customers.