Been a while...
Reflecting on my university days when I studied Political Science, I remember taking an entire course on International Relations, which was predominantly centered around Game Theory. Fast forward to today, and instead of playing political games, I’m in the SaaS sales arena. Not exactly the UN, but still a battleground.
The further I delve into my sales career, the more I find myself pondering the relevance of Game Theory. In my line of work, characterized by fierce competition, each deal often feels like a game against three or four other similar companies.
We frequently engage in discussions about competitive advantages proactively, attempting to influence the outcome by highlighting weaknesses in our competitors' strengths. However, more often than not, it ultimately boils down to price. When a prospect hangs up the phone, you can bet they're dialing another number, and someone is making concessions. You can build as much value as you want, run the most flawless discovery process, but the stark reality is that trust is a rare commodity in our volatile industry.
I'm curious if anyone else has considered applying game theory to their sales cycles, especially in scenarios reminiscent of the prisoner's dilemma. If so, have you had any successful outcomes or made noteworthy discoveries? Are there any valuable resources or materials you've come across to enhance your analytical and strategic approach in your deals?