Written by: Vickie Sullivan | May 24, 2022
How to Beat Your Biggest Competitor: The Status Quo
Status quo bias is a silent killer of many sales opportunities, as a recent CMO article points out. It’s also why so many potential clients sound excited when they first talk with us but then ghost us when it’s time to commit.
The author of the article rightly asserts that leading with the upside doesn’t negate this bias. So, what’s the alternative? Reframing risk can head this off at the pass, but you need to be more strategic. The risk you highlight must be urgent, not some bad thing that could happen in the future.
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For example, many C-suite executives know that if they don’t put HR processes in place, lawsuits might be waiting in the wings. The problem, though, is perception. This risk feels like it’s far off in the future, making it easy for execs to procrastinate. And that’s when competing priorities—things that have stronger, more urgent downsides—get attention and budget.
So, when you do caution buyers of the risk of doing nothing—of staying with the status quo—keep urgency in mind. Ask yourself, “What do these buyers want to avoid that can happen sooner rather than later?” Those answers are the real antidote to status quo bias.
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