the best story always wins - corporate visions · 2020-06-17 · corporate visions co-author:...
TRANSCRIPT
![Page 1: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/1.jpg)
The Best Story Always Wins
How to Develop and Deliver a Compelling Story
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Note: Today’s presentation is beingrecorded and will be posted on thecompany website.
Your Participation
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Tim Riesterer
@TRiestererChief Strategy Officer
Corporate Visions
Co-author: Customer Message ManagementConversations that Win the Complex SaleThree Value Conversations
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SEPTEMBER 8
This Day in Storytelling History
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Christmas 1973
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60% BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
74%Create
Buying Vision
26%Competitive Bake-Off
BEFORE SALESPERSON
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Status Quo Buy“Why Change?” “Why You?”
-3 -1 +1 +2 +3-2
60
NO DECISION
%
60%
74%Create
Buying Vision
26%Competitive Bake-Off
BEFORE SALESPERSON
![Page 12: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/12.jpg)
YOUR SOLUTION
Defeating the Status Quo Bias
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PreferenceStability
YOUR SOLUTION
De-stabilize their preferences
Defeating the Status Quo Bias
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PreferenceStability
YOUR SOLUTION
De-stabilize their preferences
Cost of Staying same
Cost of Action/ Change
Defeating the Status Quo Bias
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YOUR SOLUTION
Cost of Action/ Change
PreferenceStability
Selection Difficulty
De-stabilize their preferences
Cost of Staying same
Create enough Contrast
Defeating the Status Quo Bias
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PreferenceStability Anticipated
Regret /Blame
Cost of Action/ Change
Selection Difficulty
YOUR SOLUTION
Cost of Staying same
De-stabilize their preferences
Create enough Contrast
Before and after hero Story
Defeating the Status Quo Bias
![Page 17: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/17.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 18: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/18.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 19: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/19.jpg)
Identified
NEEDS
CAPABILITIESSpecified
Creating a Buying Vision
Commoditized Conversation
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
UNCONSIDEREDNEEDS
Urgency and UniquenessLIVES HERE
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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
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Unconsidered Needs Test
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Presentation Uniqueness
2
3
4
5
6
Standard Solution
Value Added Solution
Unconsidered Needs Last
Unconsidered Needs First
Statistically Significant Uniqueness Improvement 50%
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Presentation Quality
5
6
7
8
9
Standard Solution
Value Added Solution
Unconsidered Needs Last
Unconsidered Needs First
Statistically Significant Quality Improvement 10+%
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Presentation Persuasiveness
4
5
6
7
8
StandardSolution
ValueAddedSolution
UnconsideredNeedsLast
UnconsideredNeedsFirst
Statistically Significant Persuasion Improvement (10+%)
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NEEDS
Identified
Specified CAPABILITIES
UNKNOWNSTRENGTHS
Commoditized Conversation
Creating a Buying Vision
+ COST +COMPLEXITY
UNCONSIDEREDNEEDS
Urgency and UniquenessLIVES HERE
![Page 28: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/28.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 29: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/29.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 30: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/30.jpg)
GainLoss
Value
2-3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer taking risk that might mitigate a loss = “Risk Seeking”
Outcome
Prospect Theory
![Page 31: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/31.jpg)
Executive Emotions Test
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Status Quo framed as a “gain”
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Plan A2 out of 3 plants lostalong w/ 4,000 jobs
Plan B66% chance of losingall three plants/jobs33% chance of losingnone of the plants/jobs
Status Quo framed as a “gain” Status Quo framed as a “loss”
74%
26%
55%
45%
More than 70% increase in “persuadability”
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Plan ASave 1 out of 3 plants and 2,000 jobs
Plan B33% chance of savingall three plants/jobs66% chance of saving none of the plants/jobs
Plan A2 out of 3 plants lostalong w/ 4,000 jobs
Plan B66% chance of losingall three plants/jobs33% chance of losingnone of the plants/jobs
Status Quo framed as a “gain” Status Quo framed as a “loss”
74%
26%
55%
45%
More than 70% increase in “persuadability”
![Page 35: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/35.jpg)
GainLoss
Value
2-3X stronger preference to avoid loss vs. acquire gains = “Loss Aversion”
Prefer taking risk that might mitigate a loss = “Risk Seeking”
Outcome
Prospect Theory
![Page 36: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/36.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE…
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 37: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/37.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE…
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 38: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/38.jpg)
NeocortexDesigned for Analysis – rationale, logicalJustifies Decisions
Limbic System/AmygdalaDesigned for Survival – emotional, intuitive
Makes Decision for Change
Craves Contrast
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FUTURESTATE
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CURRENT STATE
FUTURESTATE
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Contrast Test
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What did we measure?
Purchase IntentInterest and likelihood of making a purchase
Attitudes and ChoiceWillingness to switch and willingness to pay more
AdvocacyLikely to tell others and recommend a new product
Product PerceptionsRepresents innovation and a clear improvement
![Page 43: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/43.jpg)
3
4
5
6
7
8
Future Only Current then Future (Same
Screen)
Current then Future
(Separate Screens)
Current and Future (Side by
Side)
+14.63%Interest and likelihood of
making a purchase
Purchase Intent
![Page 44: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/44.jpg)
3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(Sideby
Side)
+14.06%Willingness to switch and willingness to pay more
Attitudes and Choice
![Page 45: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/45.jpg)
3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(Sideby
Side)
+12.46% Likely to tell others and recommend a new product
Advocacy
![Page 46: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/46.jpg)
3
4
5
6
7
8
FutureOnly CurrentthenFuture(Same
Screen)
CurrentthenFuture(Separate
Screens)
CurrentandFuture(SidebySide)
+13.40%Represents innovation and
a clear improvement
Product Perceptions
![Page 47: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/47.jpg)
CURRENT STATE
FUTURESTATE
![Page 48: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/48.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 49: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/49.jpg)
De-Stabilize Preferences
INSIGHTS THAT INCITE …
Show Cost of Staying Same
Create Enough Contrast
Before and After Hero Story
![Page 50: The Best Story Always Wins - Corporate Visions · 2020-06-17 · Corporate Visions Co-author: Customer Message Management Conversations that Win the Complex Sale Three Value Conversations](https://reader033.vdocuments.mx/reader033/viewer/2022043001/5f787e44da16286bf05bf633/html5/thumbnails/50.jpg)
Get the Research Brief
cvi.to/beststory1