The Best Story Always Wins. How to Develop and Deliver a Compelling Story
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1 The Best Story Always Wins How to Develop and Deliver a Compelling Story
2 Housekeeping Items Your Participation Join audio: Choose Mic & Speakers to use VoIP Choose Telephone and dial using the information provided Questions/Comments: Submit questions and comments via the Questions panel. Please continue to submit your text questions and comments using the Questions Panel Note: Today s presentation is being recorded and will be posted on the company website.
3 Tim Riesterer Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Chief Strategy Officer Corporate Visions
4 SEPTEMBER 8 This Day in Storytelling History
5
6 Christmas 1973
7 Status Quo Why Change? Why You? Buy
8 Status Quo Why Change? Why You? Buy 60% BEFORE SALESPERSON
9 60% NO DECISION Status Quo Why Change? Why You? 60% Buy BEFORE SALESPERSON
10 60% NO DECISION Status Quo Why Change? Why You? 60% Buy BEFORE SALESPERSON 74% 26% Create Buying Vision Competitive Bake-Off
11 60% NO DECISION Status Quo Why Change? Why You? 60% Buy BEFORE SALESPERSON 74% 26% Create Buying Vision Competitive Bake-Off
12 Defeating the Status Quo Bias YOUR SOLUTION
13 Defeating the Status Quo Bias YOUR SOLUTION Preference Stability De-stabilize their preferences
14 Defeating the Status Quo Bias YOUR SOLUTION Preference Stability De-stabilize their preferences Cost of Action/ Change Cost of Staying same
15 Defeating the Status Quo Bias YOUR SOLUTION Preference Stability De-stabilize their preferences Cost of Action/ Change Selection Difficulty Cost of Staying same Create enough Contrast
16 Defeating the Status Quo Bias YOUR SOLUTION Preference Stability Cost of Action/ Change De-stabilize their preferences Selection Difficulty Anticipated Regret /Blame Cost of Staying same Before and after hero Story Create enough Contrast
17 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
18 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
19 Creating a Buying Vision NEEDS Identified Specified Commoditized Conversation CAPABILITIES
20 Creating a Buying Vision NEEDS Identified UNKNOWN STRENGTHS Specified Commoditized Conversation CAPABILITIES + COST +COMPLEXITY
21 Creating a Buying Vision NEEDS UNCONSIDERED NEEDS Urgency and Uniqueness LIVES HERE Identified UNKNOWN STRENGTHS Specified Commoditized Conversation CAPABILITIES + COST +COMPLEXITY
22 Zakary Tormala, PhD Persuasion and negotiations experts providing exclusive research and collaboration on insights and concepts Stanford University Graduate School of Business Margaret Neale, PhD
23 Unconsidered Needs Test
24 Presentation Uniqueness Statistically Significant Uniqueness Improvement 50% 3 2 Standard Solution Value Added Solution Unconsidered Needs Last Unconsidered Needs First
25 Presentation Quality Statistically Significant Quality Improvement 10+% 6 5 Standard Solution Value Added Solution Unconsidered Needs Last Unconsidered Needs First
26 Presentation Persuasiveness Statistically Significant Persuasion Improvement (10+%) 5 4 Standard Solution Value Added Solution Unconsidered Needs Last Unconsidered Needs First
27 Creating a Buying Vision NEEDS UNCONSIDERED NEEDS Urgency and Uniqueness LIVES HERE Identified UNKNOWN STRENGTHS Specified Commoditized Conversation CAPABILITIES + COST +COMPLEXITY
28 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
29 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
30 Prospect Theory 2-3X stronger preference to avoid loss vs. acquire gains = Loss Aversion Value Outcome Loss Gain Prefer taking risk that might mitigate a loss = Risk Seeking
31 Executive Emotions Test
32 Status Quo framed as a gain Plan A Save 1 out of 3 plants and 2,000 jobs Plan B 33% chance of saving all three plants/jobs 66% chance of saving none of the plants/jobs
33 Status Quo framed as a gain Status Quo framed as a loss 74% Plan A Save 1 out of 3 plants and 2,000 jobs 55% Plan A 2 out of 3 plants lost along w/ 4,000 jobs More than 70% increase in persuadability 26% Plan B 33% chance of saving all three plants/jobs 66% chance of saving none of the plants/jobs 45% Plan B 66% chance of losing all three plants/jobs 33% chance of losing none of the plants/jobs
34 Status Quo framed as a gain Status Quo framed as a loss 74% Plan A Save 1 out of 3 plants and 2,000 jobs 55% Plan A 2 out of 3 plants lost along w/ 4,000 jobs More than 70% increase in persuadability 26% Plan B 33% chance of saving all three plants/jobs 66% chance of saving none of the plants/jobs 45% Plan B 66% chance of losing all three plants/jobs 33% chance of losing none of the plants/jobs
35 Prospect Theory 2-3X stronger preference to avoid loss vs. acquire gains = Loss Aversion Value Outcome Loss Gain Prefer taking risk that might mitigate a loss = Risk Seeking
36 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
37 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
38 Neocortex Designed for Analysis rationale, logical Justifies Decisions Craves Contrast Limbic System/Amygdala Designed for Survival emotional, intuitive Makes Decision for Change
39 FUTURE STATE
40 CURRENT STATE FUTURE STATE
41 Contrast Test
42 What did we measure? Purchase Intent Interest and likelihood of making a purchase Attitudes and Choice Willingness to switch and willingness to pay more Advocacy Likely to tell others and recommend a new product Product Perceptions Represents innovation and a clear improvement
43 Purchase Intent % Interest and likelihood of making a purchase Future Only Current then Future (Same Screen) Current then Future (Separate Screens) Current and Future (Side by Side)
44 Attitudes and Choice % Willingness to switch and willingness to pay more Future Only Current then Future (Same Screen) Current then Future (Separate Screens) Current and Future (Side by Side)
45 8 Advocacy % Likely to tell others and recommend a new product Future Only Current then Future (Same Screen) Current then Future (Separate Screens) Current and Future (Side by Side)
46 Product Perceptions % Represents innovation and a clear improvement Future Only Current then Future (Same Screen) Current then Future (Separate Screens) Current and Future (Side by Side)
47 CURRENT STATE FUTURE STATE
48 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
49 INSIGHTS THAT INCITE De-Stabilize Preferences Create Enough Contrast Show Cost of Staying Same Before and After Hero Story
50 Get the Research Brief cvi.to/beststory1
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