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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The JOLT Effect summary
Matthew Dixon
Ted McKenna
How High Performers Overcome Customer Indecision
16 mins
Brief summary
The JOLT Effect by Matthew Dixon and Ted McKenna explores how companies can use unexpected moments of customer interaction for positive impact. It provides a practical framework for creating 'Wow' moments and delivering exceptional customer experiences.
Table of Contents
The JOLT Effect
Summary of 6 key ideas
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Key idea 1 of 6
Overcoming customer indecision is not about beating the status quo.
For decades, experts have agreed that the key to making a sale is beating the customer’s preference for the status quo. The consensus around this idea has been so strong that it’s been adopted by just about everyone in the field. Unfortunately, it also happens to be flat-out wrong.
In reality, missed sales opportunities aren’t primarily due to “status quo bias.” The real culprit is customer indecision, which accounts for 56 percent of missed sales. Though it may seem like a minor distinction, this “status quo versus customer indecision” divide actually makes a significant difference.
Let’s explore this difference a bit more closely. It’s true that people usually exhibit a preference for things to stay as they are – this is the status quo bias. But an even stronger preference is people’s desire to avoid loss, or what’s known as “loss aversion.”
It’s loss aversion that prevents so many customers from following through on a purchase, even when they admit they’d be better off buying.
So, why do customers hesitate even when they want to change the status quo? Turns out, it’s due to yet another bias – the omission bias. While everyone dislikes making the wrong decision, the fear of making an active mistake often outweighs the regret of failing to take beneficial action. In other words, customers fear making a bad purchase more than they fear missing out on a great one. So, it’s easier for them to kick the can down the road rather than to sign on the dotted line.
How, then, can salespeople overcome customer indecision to make good on a sale? Before we answer this, let’s discuss a common sales tactic that usually backfires: relitigating the status quo. This is when salespeople counter indecision by trying to convince the customer all over again to buy the product. According to Dixon and McKenna’s research, the relitigation strategy has a negative effect on 84 percent of sales attempts.
Fortunately, there is a method for overcoming customer indecision. It’s a series of four strategies that’s been coined the JOLT effect. We’ll consider the first of these strategies, judging the indecision, in the next section.
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What is The JOLT Effect about?
The JOLT Effect (2022) promises to shatter your understanding of sales techniques. Grounded in decades of research, this enlightening guide reveals how tackling customer indecision, not status quo bias, holds the key to sales success.
The JOLT Effect Review
The JOLT Effect (2022) explores how to create exceptional customer experiences that generate loyalty and drive business growth. Here's why this book is worth reading:
- Unveils five innovative strategies that empower businesses to deliver remarkable customer journeys, fostering long-term relationships and sustainable success.
- Backed by extensive research and real-life case studies, the book offers actionable insights that can be applied to any industry or organization.
- Through its pragmatic approach and thought-provoking examples, this book turns the topic of customer experience into an exciting journey of discovery and potential.
Who should read The JOLT Effect?
- Anyone working in sales
- Small business owners or entrepreneurs
- Consumers interested in sales techniques
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The JOLT Effect FAQs
What is the main message of The JOLT Effect?
The main message of The JOLT Effect is to embrace discomfort and use it as a catalyst for personal and professional growth.
How long does it take to read The JOLT Effect?
The reading time for The JOLT Effect varies, but it typically takes a few hours. The Blinkist summary can be read in just 15 minutes.
Is The JOLT Effect a good book? Is it worth reading?
The JOLT Effect is definitely worth reading! It provides valuable insights on using discomfort to fuel progress and achieve success.
Who is the author of The JOLT Effect?
The authors of The JOLT Effect are Matthew Dixon and Ted McKenna.
What to read after The JOLT Effect?
If you're wondering what to read next after The JOLT Effect, here are some recommendations we suggest:
- Coaching Salespeople into Sales Champions by Keith Rosen
- Selling with Noble Purpose by Lisa Earle McLeod
- The Challenger Sale by Matthew Dixon and Brent Adamson
- The Art of Explanation by Ros Atkins
- Sales Management. Simplified. by Mike Weinberg
- The First Minute by Chris Fenning
- Make Today Count by John C. Maxwell
- The Job-Ready Guide by Anastasia de Waal
- Ogilvy on Advertising by David Ogilvy
- The Self-Made Billionaire Effect by John Sviokla and Mitch Cohen