Decoding the JOLT Effect: Revolutionizing Sales Strategies and Empowering Fearless Selling – Matt Dixon on Social Selling 2.0
Many of us have been trained to sell on fear, uncertainty and doubt, that customers make no decision because we haven’t sold value well enough, or that tried-and-true approaches to indecision yield results – both untrue.
On the most recent Social Selling 2.0, Matt Dixon of DCM Insights and Wall Street Journal bestselling co-author of The Challenger Sale, The Effortless Experience, The Challenger Customer and The JOLT Effect joins Tom Burton, Brandon Lee and Carson V. Heady to dive into how the JOLT methodology revolutionizes our knowledge, understanding and approach of the buyer journey.
Check out the full episode here:
A new prevalence of data around virtual sales conversations has yielded a massive amount of data. Matt and his collaborators studied the data and were surprised by many of the things they had found.
The Seismic Shift
Indecision, ghosting, and radio silence are pervasive issues, with a shocking revelation that 40-60% of a salesperson’s qualified pipeline is lost to no decision. For some companies, especially in the SaaS space, this figure may skyrocket to 70-80%.
Futility of Traditional Approaches
Conventional approaches often backfire during the “cold feet” moment. Tactics like reconvincing the customer, introducing fear of the cost of inaction, or resorting to discounts can increase the likelihood of a no-decision outcome.
Understanding Customer Indecision
The JOLT Effect sheds light on the two primary reasons behind customer indecision: status quo preference and fear of failure. A significant revelation is that 56% of no-decision outcomes stem from the customer’s fear of making a mistake.
Three Fears of Failure 
Customers, even at senior levels, grapple with three major fears of failure: choice overload, information overload, and expectations overload. Each fear is deeply rooted in concerns about making the wrong decision.
The JOLT Playbook in Action 
Judging, Offering a Recommendation, Limiting Exploration, and Taking Risk off the Table: Each element contributes to instilling confidence in the customer and alleviating their fear of failure.
The Impact of JOLT
An analysis of win rates based on customer indecision levels revealed a staggering difference. JOLT sellers outperformed their counterparts, achieving a nearly 60% conversion rate with moderately indecisive customers.
By understanding and alleviating the fear of failure, salespeople can guide customers through the entire buying journey with confidence. As the sales landscape evolves, the JOLT Effect stands as a beacon, guiding sales professionals toward a more effective and empathetic approach to customer indecision.
Check out the full episode here: https://youtube.com/live/76U44EEXjBk
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