Tag: decision making
Professional Services Marketing Psychology: Client Decisions
Discover the hidden psychological forces that drive client decisions in professional services. Learn how trust, bias and emotion influence choice.
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Do People Buy, or Are They Sold To? Rethinking the Role of Sales and Marketing
The Age-Old Question: Do We Buy, or Are We Sold To? If you’ve ever found yourself in a shop, on a website, or even just scrolling social media, you’ve probably wondered: am I making this purchase because I truly want to, or because someone, somewhere, has nudged me into it? It’s a question that’s as…
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Solving Pains and Gaining Trust: The Nuances of the SME Sales Process
Selling to small and medium-sized enterprises (SMEs) requires a different approach than selling to large enterprises. SMEs have unique needs, priorities, and buying processes that salespeople need to understand in order to be successful. The key point you make is that SME buyers are focused on solving their own problems, not on purchasing your product…
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Owner Managed Businesses – Decision Making
Business owners who have founded their own companies often have a more intuitive, entrepreneurial approach to decision-making compared to C-suite executives. The strengths of the business owner approach include faster decisions informed by hands-on experience, greater risk tolerance, and accountability. However, weaknesses can include more bias, ego, and lack of diverse perspectives. C-suite executives tend…
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My Business Owes Me Money
The Fallacy of Sunk Costs in Business Valuations Many entrepreneurs make the mistake of believing their business owes them money for the personal investments and sacrifices they made to get the company up and running. This type of thinking represents a cognitive bias known as the sunk cost fallacy. While understandable, clinging to sunk costs…
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Bothism
Mark Ritson explained his concept of Bothism from a marketing perspective a couple of years ago. I love his thoughts and I simplify it as, “When offered A or B how can perhaps we do both rather than an accept the binary either or offer?” My take on the broader subject is that Bothism is…
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