Today’s guest is Steve McKee. He is the president of Wallwork and Company. He is also the author of the book When Growth Stalls and Power Branding. He has been a columnist for Businessweek over a decade and currently writes a column for SmartBrief on leadership.
Here are the highlights of my conversation with Steve:
What is a rationally irrational consumer?
Nobody in any purchasing situation acts completely rationally. But when you start to fill in the layers, that irrationality can be somewhat rational.
Biggest Mistake in Prospecting
Giving into the fallacy of rationality
The Device to Begin Understanding a Rationally Irrational Customer: CERTS (Context, Expectations, Risks, Tradeoffs, Shortcuts)
- Every purchase has a context. Think about what context your prospect is operating in. And often, context determines expectations.
- Prospects are continually trying to mitigate risk. So think about their risk and how to mitigate them.
- In that context of risk, prospects are always making tradeoffs.
- Ultimately, when you build trust with the prospect, you become a shortcut for them.
Research Strategies:
- Insight: What is going to drive or significantly affect their decision?
- Relationship: Look for opportunities to make relationship with the prospect since people do business with people they like and trust. Your prospects are humans so leverage that connection.
The Mindset Shift
When a company has a need for a product or service, they’re feeling pain. And they’re looking for a solution. So when you appear on their doorway, they desperately want you to be the answer. Think of it that way!
Work for the Prospect Before They Hire You
Start working for the prospect before they hire you. Start serving them and meeting their needs. Start genuinely and sincerely working for them before the hire you. And oftentimes, they end up hiring you. But if not, you’re still building relationships and trust. Start to give away what you have and it will come back to you.
The Purchase Process Can Change
A purchase process can actually change the purchase process.
Think of wise ways to violate things.
Steve’s Major Takeaway:
Remember, your prospects are humans and they want to like you.
Episode Resources:
Learn more about Steve and the stuff he’s doing on www.whengrowthstalls.com
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