The Paradox of Choice
The Paradox of Choice affects your buyers. You need to consider this when making decisions on your Marketing Strategy, Demand Generation Tactics and Sales Enablement.
We've listed a few examples of these below:
Marketing Strategy
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If you're in an "Established Market", with multiple competitors, and it's difficult to differentiate, the Paradox of Choice means you need to avoid insulting the prospect’s intelligence with bold claims of functional exclusivity
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Your prospect is inundated with similar messages (causing the Paradox), meaning you are adding to the confusion and causing suspicion. The answer is NOT to shout louder or make bolder claims
demand generation
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The Paradox of Choice causes underperforming Demand Generation tactics
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Certain demand generation tactics are more. or less. effective given crowded, confused markets. Taking the Paradox of Choice into account helps you choose the tactics that are more effective
sales enablement
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Crowded markets with confused buyers rarely perform to the "best practice" MQL/SQL conversion metrics as you cannot rely on feature-function differentiation to provide the compulsion you need
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Your sellers have to act as guides and compel the prospect by following a process shaped by behavioral thinking