The surprising truth about what closes deals: Insights from 2.5m sales conversations | Matt Dixon

Matt Dixon is one of the world’s foremost experts in sales and the author of The Challenger Sale, which sold over a million copies worldwide and was a #1 Amazon and Wall Street Journal bestseller. His most recent book, The JOLT Effect, focuses on overcoming customer indecision—one of the biggest challenges to closing deals. Outside of writing, Matt co-founded DCM Insights, a boutique consultancy helping organizations understand customer behavior, and is a frequent contributor to the Harvard Business Review, with more than 20 print and online articles to his credit. In our conversation, we discuss:
• Why 40% to 60% of qualified sales opportunities are lost due to customer indecision
• Why dialing up FOMO doesn’t work, and what to do instead
• The “pings and echoes” technique to catch issues early
• The JOLT method for overcoming indecision
• Key lessons from The Challenger Sale
• Practical examples of how to apply these principles to close more deals

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Find the transcript and references at: https://www.lennysnewsletter.com/p/cl...

Where to find Matt Dixon:
• LinkedIn: LinkedIn: matthewxdixon
• Website: https://www.jolteffect.com/

Where to find Lenny:
• Newsletter: https://www.lennysnewsletter.com
• X: Twitter: lennysan
• LinkedIn: LinkedIn: lennyrachitsky

In this episode, we cover:
(00:00) Matt’s background
(01:57) The research behind Matt’s books
(06:08) Insights from The JOLT Effect
(10:15) FOMO vs. FOMU
(18:18) An example of selling software
(26:04) The JOLT method Step 1: Judge their level of indecision
(29:41) The “pings and echoes” technique
(34:49) Step 2: Offer a recommendation
(38:36) Step 3: Limit the exploration
(41:43) Step 4: Take risk off the table
(45:58) When to hit the pause button with a customer
(47:27) Insights from The Challenger Sale
(49:07) An example of a challenger sale
(55:23) Where to find Matt

Referenced:
• A step-by-step guide to crafting a sales pitch that wins | April Dunford (author of Obviously Awesome and Sales Pitch): https://www.lennysnewsletter.com/p/a-...
• The Challenger Sale: Taking Control of the Customer Conversation: https://www.amazon.com/Challenger-Sal...
• The JOLT Effect: How High Performers Overcome Customer Indecision: https://www.amazon.com/JOLT-Effect-Pe...
• Gartner acquires CEB: https://www.gartner.com/en/about/acqu...
• Tiger King on Netflix: https://www.netflix.com/title/81115994
• Why sourdough went viral: https://www.economist.com/1843/2020/0...
• Neil Rackham: https://en.wikipedia.org/wiki/Neil_Ra...
• Status quo bias in decision-making: https://en.wikipedia.org/wiki/Status_...
• Omission bias: https://thedecisionlab.com/biases/omi...
• Gartner Magic Quadrant & Critical Capabilities: https://www.gartner.com/en/research/m...
• Dunning-Kruger effect: https://en.wikipedia.org/wiki/Dunning...
• Stop Losing Sales to Customer Indecision: https://hbr.org/2022/06/stop-losing-s...
• Dentsply Sirona: https://www.dentsplysirona.com/
• “We happy?” Briefcase scene from Tarantino’s Pulp Fiction: Vincent Vega's Death - "Pulp Fiction"
• Nupro Freedom Cordless Prophy System: https://www.dentsplysirona.com/en-us/...

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