The Science Behind the Challenge of Business Interaction
The biggest challenge in acquiring a new business, in sourcing investment, in getting funded, or in making significant business sales, is how to bridge the gap between a buyer and a seller. In each of these and other transactional interaction, one party acts as the buyer and another as a seller and their brains work differently. Their brains process the information differently.
Given how our minds work, the challenge of bridging the gap between the two parties, is very scientific in nature. As a result, there is often a communication breakdown along with misalignment of objectives. Also, the more time the seller spends on explaining the product or services to a potential client, the more difficult it gets to crack the deal.
While the seller is selling and making a pitch, from the neocortex, the smart brain; the buyer is is actually processing the information from their primitive mind which isn’t smart and is at least 5 Million years old. This means that the buyer’s mind is reacting with primitive emotions like fear, anger, boredom, defensiveness etc. rather than processing the information with an advanced mind.
Thus, the whole negotiation gets converted to a conflict between the cognitive and the primitive mind. The gap between the neocortex and the primitive mind is not bridged and the interaction does not give you the results you want.
This scientific basis of how the human mind functions is the reason why the odds of a sales pitch converting are very low. Actually, the most important messages don’t even get through to the client. Simply because either the client gets bored and ignores the message, or they feel that the propositions are unsafe or complicated or radical.
As a result, the client is always fearful and suspicious and no alliances are formed except for the client trying to either reject the deal, or make it majorly lop-sided by making unreasonable demands.
This is why, according to Sources like Forbes, McKinsey, Caliper Corp, CSO insights, Salesforce,
Only 30% of firms have 75% or more of their salespeople hit their quotas.
57% of salespeople don’t meet their quota.
68% of sales meetings end without asking for the sale.
82% of buyers switch off after first 5 minutes of a presentation.
Only 27% of buyers say they understood the USP.
79% of buyers wanted to interact with a trusted advisor and not a sales person.
83% of buyers said it is absolutely critical that the business development person has a unique approach.
Which brings us to our next question. How does one use this knowledge to bridge the gap between the primitive and the cognitive brains? Are conventional solutions, really taking us anywhere?
The conventional solutions are leading us only to failed results and the sellers are never able to control the interaction and make themselves valuable and prized.
This is where Pitch Plan comes in.
Pitch Plan is a proven methodology that gives you:
3X better close rates
20% better price
20% faster closure
100 hours less prep time
To know what Pitch Plan is all about, watch out this space.