Overcoming Status Quo Bias in Sales 

Remember those days in sales training when you were handed a super slick spreadsheet or flipped through a killer marketing brochure? These documents likely showcased your undeniable advantage over your closest competitor, itemizing every value proposition to underline your supremacy.  

Yet, here’s the catch: you’ve been focusing on the wrong competitor all along. 

Your most formidable adversary isn’t a company or product; it’s a mental construct dwelling within your prospective customer’s mind. This cognitive phenomenon is what psychologists refer to as the “status quo bias” – the compelling allure of maintaining the current state, even when superior alternatives are evident. 

What is The Reason For Status Quo Bias? 

The status quo bias, essentially, is an innate inclination towards loss aversion. People often opt to stay in their existing circumstances, even if those circumstances are far from ideal, simply because the fear of losing what they have outweighs the hope of gaining something better. 

What makes this bias particularly insidious is its seemingly innocuous nature. It doesn’t appear to incur significant costs to do nothing, and that perception needs to be challenged. 

#1. The Cost of Status Quo Bias 

The issue with your prospect’s status quo bias is that it subtly suggests that doing nothing is safer and more prudent than taking a different course of action. The prevailing sentiment is often, “It’s better to stick with the devil you know.” 

Compounding this issue is another psychological quirk known as the “endowment effect,” where people tend to assign greater value to possessions they already own. As Paco Underhill highlights in his book “Why We Buy,” we tend to cherish things more once they are ours. This reinforces the allure of inactivity. 

When these cognitive biases align, they create a potent recipe for inertia: 

• “My current situation holds value for me.” 
• “I’m apprehensive about making a change, as it may lead to unfavorable outcomes.” 
• “What’s the harm in staying put?” 

#2. How to Overcome Status Quo Bias 

To overcome your prospect’s status quo bias, you must counteract their deeply ingrained inclination to stick with the familiar. To do this effectively, it’s crucial to connect with the very essence of your customer’s aspirations, understanding two fundamental motivational principles: 

• People purchase to enhance their lives. 
• The sooner they act, the sooner their lives improve. 

Therefore, the cost of inaction can be summed up in two powerful words: wasted time. The longer one delays in pursuing a better situation, the longer they endure dissatisfaction. 

Status Quo Bias Example 

Consider the common scenario of individuals suffering from chronic sleep disturbances. Many put off seeking help, fearing they might need to use a CPAP machine. Over time, their discomfort intensifies until they finally seek assistance, and when they do, they experience profound improvements in their sleep quality and overall health. The common refrain after the fact is, “I wish I had done this a long time ago.” 

#3. Amplifying the Cost of Lost Time 

Now, think of a prospect you’ve been engaging with, someone who remains on the sidelines, hesitant to take action. Ask yourself: How would their life improve if they acted today? 

When you grasp this perspective, you gain the ability to profoundly influence your prospect: 

“You know, from my years of experience, I’ve learned that the sooner people take steps to enhance their lives, the sooner they find fulfillment. Every day you choose to stay where you are is another day of enduring dissatisfaction.” 

Help Your Prospects Embrace Change 

By highlighting the genuine costs of inaction and painting a vivid picture of the brighter future your solution offers, you can empower clients to break free from the inertia of the status quo. Your role as a sales professional isn’t just about closing deals; it’s about catalyzing transformation and helping clients embrace the opportunities that change can bring. By overcoming status quo bias, you not only drive sales but also facilitate profound positive change in the lives of your clients, which is the true essence of exceptional salesmanship. Master this skill, and you have the power to change their world. 

Status Quo Bias is just one of many objections customers may have when making a purchase. It may be discouraging when a potential client brings up an objection, but the truth is… Objections are Good! Objections do so many things for us. They help us identify the buying path, they reveal our customer’s level of engagement, and they make us better, more adaptable salespeople! If you want to learn to handle buyer concerns with ease, get our online course Overcoming Objections.