Podcast episode
Embracing competitors and asking the right questions at the right time (Ryan Staley, Founder & CEO @ Whale Boss)
30 Minutes to President's Club15 Dec 202131 min
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Join the most tactical sales newsletter in the world: https://hubs.ly/Q01-R33G0 Four Actionable Takeaways: * Learn from the 5 biggest deals you have lost and replace them with the 5 fastest deals you have won. * Ask questions to determine where you stand in the process before wasting months on a sale cycle. * Don’t shy away from the buyer’s conversations with competitors - use it to your advantage. * Fully understand every outstanding step to get a deal done to avoid surprises. RESOURCES DISCUSSED Join our weekly newsletter Things you can steal 30MPC Training: 30mpc.com/training
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Every place a page here uses this source, in the order the words come in it.
And this is absolutely beautiful. In my opinion, it's a new category that sits in between inbound and outbound. And what it does is it accelerates the sales process, sometimes cuts the time in half while also making deal size 125 to 150% of the size. Now the beautiful thing is the pathways, that's really like the incentives. “Most people default to money or a gift card.” A lot of times it's just helping people and being a good person by connecting them to someone who has a problem solved that they need to solve. The peaks, what are the emotional experiences that the buyer goes through and how to align and ask at the right time? The next step is the process. How do you drop that into an existing process and mirror that with your sales process so
And so I'll walk through those and hit those right here. So that one is like, does this solution exceed your expectations? Okay. Very carefully worded because even when customers don't give you an answer with these questions, they give you an answer, right? The second one is, is there any “reason why you wouldn't move forward with this solution? Right? So once again, you're surfacing” objections. Number three is, is there anything that our solution is missing that the competition has proposed? Okay. So mind you, people are afraid. A lot of times I've seen reps afraid to ask that question. They're like, oh, we don't want people to go to competition. Here's the thing. They have policies in place where they have to go to competition. They have to get competitive bids.
And so I'll walk through those and hit those right here. So that one is like, does this solution exceed your expectations? Okay. Very carefully worded because even when customers don't give you an answer with these questions, they give you an answer, right? The second one is, is there any reason why you wouldn't move forward with this solution? Right? So once again, you're surfacing “objections. Number three is, is there anything that our solution is missing that the competition” has proposed? Okay. So mind you, people are afraid. A lot of times I've seen reps afraid to ask that question. They're like, oh, we don't want people to go to competition. Here's the thing. They have policies in place where they have to go to competition. They have to get competitive bids. They're not going to sign off on a hundred thousand dollar deals without anybody else looking at it.
policies in place where they have to go to competition. They have to get competitive bids. They're not going to sign off on a hundred thousand dollar deals without anybody else looking at it. That means it doesn't happen. Right? And then number four is, is there anything that you don't like about our solution compared to competition? And so it does a couple of things. The way that “that's structured is it tells you who the competition is, what they're proposing, what” they like versus yours versus they don't. So it starts to shape the solution. And then that way, if you really want to identify like, okay, is this apples to apples or is this not apples to apples, right? You can start to frame that up. And basically you get complete visibility to what
other 20, and the other 10. So you better darn well have alignment at that 70% group. And that needs to be the key focus area. So that's the first question. The second question, this is what bit us in the butt with that $18 million mistake. So the next question is, who, after we implement “or after the solution is implemented, who is going to own the budget then? Right? Because” what happened was we asked the question the right way of who owned the budget now. But what we didn't account for is when they implemented this new solution, there's going to be a completely new owner of the budget. And so essentially, that person had the final final
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