Disruptive Innovation Roadblocks: Three Ways To Overcome Status Quo Bias
So, how can companies with disruptive innovations help potential clients break the habit of defaulting to the status quo? Here are a few ideas.It is important to note that when customers default to the status quo, they often are not deciding for or against new technology. In fact, I've found it could be because they haven’t made any decision and have probably not engaged in a more complex decision-making process.
Potential losses could include customers, new revenue streams or even credibility by doing things the same old way. In some cases, there might be preconceived ideas about loss associated with switching away from the status quo, so it is important to address these misconceptions head-on. In my company's case, for example, there was a preconceived idea that our technology would cannibalize a common medical procedure, when, in reality, we were expanding the number of potential procedures.
In healthcare, for instance, it’s common to have a presence at major healthcare conferences. But it can be important to look beyond major annual society meetings, which are also intermittent, and to consider investing in smaller regional conferences or even local society meetings. Another way to increase exposure is to enlist the help of past clients and customers.
While it can be difficult to calculate a return on investment for these efforts in terms of product sales, it can be invaluable when confronting the status quo bias.
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