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Selling has always been a risk-reward business. Since the recession hit in 2008, salespeople have become increasingly risk-averse. Endless PowerPoint word slides offer middle-of-the-road recommendations, CRM systems provide regular, faceless contact with customers who pay little to no attention, and RFPs dumb-down solution-based and strategic selling to the point where everyone involved – both customer and sales team – often wonder if the best ideas are chosen and ultimately implemented. But is it fair to blame our risk-aversion on a recent economic downturn? Or are salespeople – and people in general – more afraid of risk than they need to be? The science of behavioral economics tells us that YES – when it comes to economic decisions, losses loom larger than gains. This makes us less likely to take chances, even when the analytical side of our brains tells us that the odds are in our favor. If you are involved in the sales process – and who isn’t these days – this concept has some exciting implications. The fear of taking risks could very well be holding you back from reaching your maximum potential and achieving ongoing success. The more we learn about what drives our actions from behavioral economists, the more we are able to apply those insights on a daily basis. So take a look at some behavioral economics theories and then suggest the types of risks that are worth taking. http://www.biworldwide.com/white-papers/sales-channel-effectiveness/risks-you-should-be-taking-to-increase-sales http://www.biworldwide.com/
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Risksyou should be taking to increase sales
Selling has always been a risk-reward business.
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
if you are involved in the sales process, the fear of taking risks could be holding you back from reaching your maximum potential...
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
and achieving ongoing success.
if you are involved in the sales process, the fear of taking risks could be holding you back from reaching your maximum potential...
Take a look at some behavioral economic theories that show the types of risks that are worth taking.
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
Prospect Theory
Consider how things are positioned before making a decision on whether or not to take a risk.
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spotlight effect
Don’t be afraid to express ideas and thoughts – and brainstorm ways to build solutions that will get your customers to take notice.
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Vividness
Find a way to emotionally connect with customers through stories, photos, videos, demonstrations and vivid examples.
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confirmation Bias
one risk NOT to take is to depart from your core message and risk alienating believers.
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Preference reversal
(or the Say/Do gap)Let your customer do more of the talking and focus on listening, then take action.
Risksyou should be taking to increase sales
Discover two final risks that will improve your winning sales percentage
by downloading our article:
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BI WORLDWIDE uses the principles of behavioral economics to produce measurable results for our clients by driving and sustaining engagement with their employees, channel partners and customers.
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