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Sales & Marketing Effectiveness Blog Close More Deals With This Pricing Strategy

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Sales & Marketing Effectiveness Blog Close More Deals With This Pricing Strategy

When you offer the Buyer too many choices they don’t chose anything at all. Your job as a Sales Rep is to provide the best solution to the Buyer’s problems.

Don’t overwhelm them by offering them more than they need. So limit the options you present. Use the Solutions Options Framework to guide your conversation with the Buyer. This approach typically results in a larger deal size.

The Solutions Options Framework is available when you sign up for the SBI Making the Number research tour. It allows you to start off on the right foot in several ways:

  • Approach prospects in non-threatening ways. 
  • Uncover a prospect’s actual wants and needs.
  • Tailor your message and provide the best solution possible.

Trust Your Own Experience

It’s a quiet Saturday night and you log onto Netflix to watch a movie. There are thousands of choices. You search around for thirty minutes without making a selection. There are too many options for you to be perfectly right. So you give up. You either chose something from the “Most Popular” category or you read a book. You either let someone else decide or you simply decide to do nothing. This is a common, consumer decision-making habit.

This same habit is true in the corporate Buyer’s journey. Our personal decision-making does not magically change in our business life. So it behooves us to study consumer behavior and apply it to our business.

I am not alone in this belief. Business Insider recently recapped a TED Talk given by Columbia School Professor Sheena Iyengar. She provides insights into how to make decisions easier. She says “we choose not to choose even when it goes against our best self-interest.”

Kristin Jordan also wrote an interesting post on this topic. “Giving someone THREE options automatically flips some sort of switch in most brains to make it ok to consider all three options. People will make a decision faster and with less angst.”

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