In this episode of B2B Digital Marketer, we dive into why many potential customers disengage and don't make a purchase, wasting both the vendor’s resources and their own team’s resources.
We learn from a machine learning analysis of 2.5 million recorded sales calls that no decision loss is a silent killer of sales, even though the customers are convinced of the value of the solution.
We discuss two biases - status quo bias and omission bias - that can contribute to no decision loss, as well as the fear of failure that underlies omission bias. We explore different techniques such as the Jolt method and pings and echoes to address indecision in customers.
We also examine the importance of focusing on converting lost deals into opportunities, and the impact of proper expectations setting, being a buyer's agent, building trust, and demonstrating expertise in complex B2B sales.