Most sellers are weak at stakeholder engagement. It's the #1 reason deals slip
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"70%+ of our deals are stalling out at stage 1."
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From a recent convo with a sales leader
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"Economic uncertainty" has been a hot topic in SaaS since the recent dip in Q1 2023.
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Layoffs, lower budget thresholds, more CFO involvement, consolidating tools, etc.
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And that leads to lower win rates, stalled deals, longer sales cycles, etc.
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If you're seeing a lot of early-stage deals in limbo, multi-threading is the #1 problem you need to address.
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Here are 3 tactical ways you can diagnose the problem + solutions:
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1) Pull stage conversions for inbound vs. outbound
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Why? Most reps are great at running inbound-led deals. Buyers come to you with problems, a budget, etc.
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But outbound is different. You nudged the buyer. They may not have a defined problem or a team that wants to fix it.
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Pull the numbers. If you see a big difference between inbound vs. outbound, enable reps on how to run outbound discovery.
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They need an insight to start the conversation.
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2) Multi-threading when deals start with below-the-line buyers
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Why? Depending on what you sell, this is more than likely the situation.
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Your reps start deals with non-DMs.
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Do an audit.
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- What percentage of intro calls are with non-DMs?
- What structured plays/guidance is provided to reps in these scenarios?
- How effective are those plays at increasing VP+ involvement in deals?
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3) Alignment to a business goal/problem
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Why? Senior stakeholders don't care about features and functions.
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If your reps aren't talking about business goals/problems, they'll be stuck below the power line.
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Do an audit:
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- Does your enablement translate every feature to both user and economic buyer goals/problems?
- Are reps connecting to business goals in their calls? Check disco recordings.
- Are reps creating great business cases & summareis? Check their business cases, follow up emails, proposals, etc
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You have to enable and coach this skill
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