28 Feb How to successfully navigate, negotiate and sell to FTSE 100 by Tom Castley
The following is an extract from SaaS Growth 2018 brought to you by Sales Confidence.
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Tom Castley RVP Account Management, Apptio
#1 – Speak the right language
CXOs, VPs, Execs and middle management all speak different languages. Most salespeople only speak one. If you start speaking to a CIO and they hand you down to someone on a lower level, it’s because you haven’t talked their language. CXOs talk about growing quicker than the market or grabbing market share. That’s what they care about. Frame your solution around that. Execs are all about efficiency. Middle management are about minimising the risks around doing what the Execs want. Think about how you can translate your sales story to appeal to all of them.
#2 – If you’re not sure about the price, don’t give it to them
Pricing for individual clients can be hard, so don’t do it. Get them to name their price and see how it goes from there. Use a line like, ‘If you were me, what price would you be putting on this now?’ 99 times out of 100, they name a higher price than you need to sell at. After that, the trick is to not get excited, but to try and raise the price even further.
#3 – Get through the door
It’s easier to sell down the corridor than to get into the building. Regardless of how big your deal is, once you’re in, you’re in. Get your foot in the door, by doing a deal, any deal. Take what you can get. Once you’re through the door, you can begin to shoot for larger deals to a more receptive audience. Don’t bounce deals across quarters in the hope of a big payoff at the end. Time doesn’t kill deals. It kills value. Something smaller today will lead to something bigger tomorrow.
‘You’re hoping for $1 million when you could’ve had $150K last quarter. Take it. Once you’re in, you’re in.’
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