“Unprecedented Times” … Again?
It's no secret that the world is changing faster than ever. In just the last generation we’ve witnessed the accessibility of the internet, 9/11, wars, the largest recession since 1929, the explosion of social media, smartphones, a global pandemic, wars again, and most recently, decade-high inflation & interest rates. How do you drive change initiatives with customers when it seems as though there’s always a massive event creating a sense of uncertainty and complexity? Let’s dive in.
You’ve likely encountered "decision paralysis" with existing and potential clients. They know they need to change, but the fear of the unknown keeps them stuck in the status quo. Traditional sales approaches don't offer much help in these situations, often focusing on a single problem when clients are facing a whole storm of challenges.
So, what can you do? Embrace your role as a sense-maker. Help your clients navigate this complexity by providing clarity and understanding. When things feel less chaotic, it's easier to move forward.
Remember, inaction has consequences. Doing nothing will definitively cost your clients time, money, and opportunities. By guiding them through the below steps that decrease uncertainty, you can help them see the risks of staying put and the potential rewards of taking action.
Reduce uncertainty by:
Acknowledge & validate the uncertainty: Show your clients you understand the challenges they face. Address the elephant in the room.
Highlight & quantify the cost of inaction: Paint a clear picture of the negative consequences of maintaining the status quo. If possible, attach a dollar value or a key customer metric to doing nothing.
Create reference points: No one wants to be the first to cross what appears to be a rickety bridge. Provide case studies, stories, and data that help de-risk the initiative.
Present a path to a better future: Demonstrate how your solution can help your client achieve specific goals. You’re in the market of creating quantifiable positive outcomes that your key stakeholders are genuinely excited about.
By taking on this consultative approach, you become a trusted advisor, not just a salesperson. You'll differentiate yourself from the competition and help your clients navigate the choppy waters of change.
Practice becoming comfortable with uncertainty and addressing it head on in a customer meeting. Try “I’m sensing you’re uncertain— tell me what’s on your mind” if you don’t know why the client is hesitating.
According to a 2022 study by the Federal Reserve, a 1% increase in business uncertainty can lead to a 2.5% decrease in capital investment, as firms become more cautious in committing to new projects (source). Do everything you can to reduce uncertainty with your customers and reap the rewards.