Win the Customer Acquisition Growth Play: Apply Buyer Psychology to Win More Deals
disrupt status quo bias to win new business
When a prospect takes your call, they’re not talking to you because they’ve already decided to buy a new solution. They’re talking to you to determine whether they need to do something different.
In their minds, they’re not comparing your solution to your competitors’. They’re comparing your solution to their status quo. And their first reaction will be to see whether their current solution can be “stretched” to overcome any challenges you identify.
If the perceived benefits of your new solution don’t outweigh the perceived risks and costs of change, people resist taking action. They’ll opt instead to continue down the path they’re already on—even if the alternative is objectively better.
That’s why at least 40 percent of deals in the pipeline end in “no decision.” Prospects might have shown some initial interest, but if they don’t see a compelling enough reason to change from their current situation, they will decide to do nothing at all.
identify your acquisition growth levers
To win your acquisition growth play, you need to show your prospects why they should change and why they should choose you. That means making sure all parts of your organization support the acquisition growth play.
Messages: Inertia is powerful. To overcome it, your sellers need to tell a powerful, disruptive story that makes the prospect’s current situation seem unsafe and unsustainable.
Skills: Your sellers need to be able to articulate the unique value of your solution in every interaction with your prospects.
Process: If your teams aren’t following an acquisition process that aligns with your buyers’ behaviors and motivations, miscommunications and dropped handoffs can cost you deals.
Leadership: For your acquisition growth play to succeed, you need to pull your managers out of the day-to-day minutia and empower them to lead.
Technology: Your tech stack binds your messages, content, and seller skills to your process. You don’t need more tools, but rather the right tools to support your acquisition growth play.
empower your teams for customer acquisition
Even though your sellers are the ones talking to your new prospects, they aren’t the only team involved. You need to ensure your sales and marketing teams are telling the same story and following the same process to show your prospects the value of your solution.
close the confidence gap
When you execute your acquisition growth play successfully, you disrupt Status Quo Bias and amp up the urgency for your prospects to change and choose you. And when your acquisition strategies are in sync with the psychology behind your buyers’ decisions, it closes the gap between strategy and results, leading to shorter sales cycles and outsized revenue growth.