In this podcast episode, Roger Dooley chats with Matt Dixon, author of The JOLT Effect and founding partner of DCM Insights, about the concept of effortful experiences and the impact of customer indecision on sales. They discuss how companies often create friction and wasted effort for customers, despite knowing it is detrimental. Matt shares examples and insights on understanding the impact of customer effort on loyalty and how to fix it. They also delve into the problem of customer indecision in sales, exploring the reasons behind it and providing strategies for salespeople to overcome it. Matt introduces the JOLT framework and discusses key behaviors that can help salespeople close the sale.The JOLT Effect with Matt Dixon Click To Tweet
Matt Dixon – Key Moments[00:01:12] The impact of effortful experiences: Exploring how experiences that require significant effort from customers can shape their perceptions and behaviors.
[00:02:11] Struggling to fix customer effort: Discussing the challenges faced by businesses in reducing customer effort and improving the overall customer experience.
[00:05:38] Update on digital and front line experience: Providing an overview of the current state and advancements in both digital and in-person customer experiences.
[00:08:26] The impact of customer indecision on sales: Examining how customer indecision can negatively affect sales and strategies to address this issue.
[00:09:36] The problem of increasing no decision rates: Highlighting the growing concern of customers choosing not to make a decision, leading to missed opportunities for businesses.
[00:10:38] The ineffectiveness of traditional sales responses: Exploring why traditional sales approaches may no longer be effective in addressing customer indecision and proposing alternative strategies.
[00:15:48] The first type of FOMO: Introducing the concept of Fear of Missing Out (FOMO) and its relevance in understanding customer behavior.
[00:16:46] Outcome uncertainty: Discussing how uncertainty about the outcome of a decision can contribute to customer indecision and its implications for businesses.
[00:18:31] Dealing with indecision in sales: Providing strategies and techniques for sales professionals to effectively handle customer indecision and guide them towards a decision.
[00:22:44] The customer’s desire to be an expert: Exploring the psychological motivation behind customers’ desire to feel knowledgeable and competent in their decision-making process.
[00:23:34] Establishing trust and expertise: Discussing the importance of building trust and establishing expertise as a business to address customer’s desire for expert guidance.
[00:25:09] Taking risk off the table: Exploring strategies to alleviate customer concerns and minimize perceived risks associated with making a decision.
Matt Dixon Quotes
“Companies think you want to be wowed and excited… they don’t do a very good job of that either.”
— Matt Dixon [00:01:58 → 00:02:21]
Friction in Customer Experience:
“I think what they struggle with is they don’t know or don’t appreciate the impact [friction] has on customer loyalty. But I also think that they don’t really know how to fix it.”
— Matt Dixon [00:02:42 → 00:03:51]
Eliminating Friction/Unnecessary Effort
“Making things easy is hard, it turns out.”
— Matt Dixon [00:04:34 → 00:04:44]
The Impact of No Decision Losses: “Anywhere between 40 and 60% of the average salesperson’s pipeline are deals that are actually lost to no decision.”
— Matt Dixon [00:08:57 → 00:11:08]
FOMO vs FOMU in Sales:
“It’s not the fear of missing out, it’s the fear of messing up.”
— Matt Dixon [00:11:32 → 00:19:01]
The JOLT Effect:
“We’re jolting the customer out of their stuck, indecisive state.”
— Matt Dixon [00:19:25 → 00:26:56]
About Matt Dixon
Matt Dixon is the Wall Street Journal bestselling author of three of the most important business books of the past decade: The Challenger Sale, The Effortless Experience and The Challenger Customer. He is also a frequent contributor to Harvard Business Review on sales and customer experience. He is a founding partner of DCM Insights, a boutique consultancy focused on using data and research-backed frameworks to help companies attract, retain, and grow their customers. Previously, he has held numerous global leadership roles at organizations like Tethr, Korn Ferry Hay Group, as well as the research firm CEB (now Gartner).
Matt Dixon Resources
Amazon: The JOLT Effect
Share the Love:
If you like Brainfluence…
- Never miss an episode by subscribing via iTunes, Stitcher or by RSS
- Help improve the show by leaving a Rating & Review in iTunes (Here’s How)
- Join the discussion for this episode in the comments section below