Podcast episode
Crafting success with creative deals (Mark Kosoglow, Chief Revenue Office @ Catalyst Software)
30 Minutes to President's Club13 Sept 202333 min
Description
FOUR ACTIONABLE TAKEAWAYS B2C Mall Sales Hustle: Show them what their world looks like with your product RIGHT NOW. When they prompt a creative deal term, say yes first, but then ask: “Does that mean you’ll buy now?” If not, keep digging. Good creative deals lose in the short term but win in the long term. You might take the buyout hit today, but that’s ok if you keep the customer for 3 years. When a customer asks for new product guarantees in a contract, ask: “Is what you want to be built really preventing you from achieving the result that you want?” PATH TO PRESIDENT’S CLUB Chief Revenue Officer @ Catalyst Software Sr. Vice President of Global Sales @ Outreach Regional Sales Director @ School Specialty Planning & Student Development Sr. Account Management @ Great American Opportunities RESOURCES DISCUSSED Join our weekly newsletter Things you can steal 30MPC Training: 30mpc.com/training
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that in 90 days, that's impossible to do. It's just not a right ask. Nothing in the world can improve your renewal rate 10 points with a lot of certainty that fast. First of all, what is the time period in which you want to do the POC? And what can you realistically do? And then there's “Leading metrics are measures of effort.” Lagging metrics are measures of execution. There's a lot of variables between leading and lagging. But one thing that someone can always can control is their effort. And so what I would do is I'd be like, listen, you're asking me for a lagging metric in renewal rate improvement. There's a lot
In Metrics
enters into a data-driven playbook. And we want to make sure that every action in that playbook has been completed for those at-risk accounts. That's effort. I can 100% make sure that that effort is done and we can measure it in the platform and it can be directly attributable “to what we're doing in the platform. So that sounds to me, Nick, like a better thing to look” at than like a downstream lagging metric, because we've got to both agree. If we get the leading stuff right, it should lead to the lagging stuff, right? It should result in the lagging stuff. So if we get that agreed on, then let's work on some leading stuff that we can actually show direct attribution to. That's the number one mistake I see with success metrics or exit
are buying right now. And though, oh my God, people buy on pain. No, they're not. I have a lot of pains. If somebody came to solve for me, I wouldn't buy on right now. I don't care about your preference. Like you might like to work this way. I don't care. I just need you to get the result. Right. And a project is something that is interesting, but not valuable enough for me. “I have business initiatives that I got to hit. If you show me how what you do helps my business” initiative win, we're in, let's talk, let's figure it out. But most reps are selling at the project preference and pain level. And when you sell at that level, that's when your deal dies right at the end, because the CFO is like not important enough for us to spend money on. So good, Mark, this has been phenomenal, but we're running out of time and we got to move to