They Admit It's Better and Still Won't Switch, Loss Aversion
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They Admit It's Better and Still Won't Switch, Loss Aversion
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A SaaS founder built a genuinely better tool — faster, cleaner, does things the incumbent can't — and prospects agree it's better and still won't switch. Brian and Dave get into why "better" often isn't the whole thing standing in the way: buyers aren't only comparing your product to the incumbent's, they're weighing the pain of switching against the pain of staying — and, as Kahneman and Tversky's work on loss aversion suggests, a loss can weigh more heavily than an equal-sized gain. They cover how to shrink the real cost of switching, how to make the quiet cost of staying visible, and the honest limit — sometimes staying put is the rational call. Monday Move: call one prospect who told you the product was better and still didn't switch, and ask one question — "What, specifically, felt risky about moving?"
Written version and this week's Monday Move: The Operator's Library at mmsvegas.com.