Episode 3: MESSAGING | Victor Antonio Show

Episode 3: MESSAGING | Victor Antonio Show

Posted on 10/25/2019
Victor Antonio

Getting customers or clients to renew their contracts with you is critical to your business' success. So the question then becomes, “How do you get customers to stay with your company?” For example, if you’re selling a SaaS (Software as a Service) platform and you contract is due to expire at the end of the year, how do you convince a client to renew? In a study published by Tim Riesterer titled, Disrupt or Defend?, the author provides a five-part framework for delivering a customer renewal message. This framework builds on a previous study titled, “The Psychology of Doing Nothing: Forms of Decision Avoidance Result from Reason and Emotion by Christopher Anderson. Riesterer calls this enhanced and tested framework the ‘Why Stay’ message: • Document Results • Preference Stability • Perceived Cost of Change • Anticipated Regret and Blame • Selection Difficulty Document Results is showing the client how much has been achieved in the last year using your product. Showing year-over-year growth numbers or achieved Key Performance Indicators (KPIs) is a strong way to quantify and justify buying from you. I call this message the “How Much Progress” segment. Preference Stability is about reminding the client of how much work and effort went into making the original decision to go with your company. It’s human nature to want to stick with your previous decision (preference) and be consistent (stability). I like to refer to this message as the ‘How Much Work’ segment. Perceived Cost of Change is where you take the client through the startup cost of getting the project in place and how much time and effort has gone into getting to this point. You goal is to get the client to see how much time, money and resources they’ve invested (i.e., sunk cost). I like to refer to this message as the “How Much Money” segment. Anticipated Regret and Blame is a reminder of how much progress has been made to date by the team or company. This is a where you dig into the efforts and resources that have been used to get to this point. A good visual for this is to think of Sisyphus pushing the rock up the hill and you’re half-way there. The las thing you want to do is stop or start over. I refer to this message as the “How Much Progress” segment. Selection Difficulty is where you shift from selling on differentiation to selling on similarity. When you concede that your product is similar to what’s available in the market, clients are less likely to want to switch when they don’t see a big upside. I call this message the “How Much Alike” segment... read the rest at www.SellingerGroup.com #vas #conversations #messaging