Let's Make a Deal!
How to spot, navigate, and win more higher-value deals
Hello friends -
With Q3 wrapping up and Q4 upon us, the sounds and sights are finally here again as we ring in another season of closing. Deal Season is here.
From me to you, let me be the first to wish you nothing but a happy, healthy, and prosperous end of year close!
May your champions be strong (shoutout Andy Whyte), forecasts large, and Docusigns prompt.
In this week’s edition of Stretch Weekly -
Gong presents another amazing data-backed guide on the top 5 things to focus on in order to close more 6-Figure Deals.
Chorus put together an excellent refresher on how to best navigate risks in deals so that we can help shorten sales cycles and get those deals across the finish line.
Plus - don’t miss deal-specific snippets as you lead your team to the best year-end close yet.
THANKS for reading!!
-Grant
And lastly - as always, if you find this newsletter valuable- subscribe or share it with someone who might as well 👊.
STRETCH SHARES
Guide to Navigating Deal Risk
As sales leaders, it's our job to identify risks in a deal before they become something we can't overcome.
Chorus put together an excellent refresher and guide on how to best navigate risks in deals so that we can help shorten sales cycles and get those deals across the finish line.
Learn:
Why Deals Fail (value isn't portrayed or understood)
Deal Risks at Different Stages
Deal Risks During Prospecting (poor targeting)
Mid Stage Deal Risks (poor pacing, pricing, decision-makers etc.)
Combatting Risks
In Real-Time
During Deal Review
Give this one a read and get a head start on de-risking those deals!
How to Close Complex 6-Figure Deals
Enterprise deals are complex, we all know that. The sales cycles are long. The number of stakeholders is wide. The difference between success and F$#$% is razor-thin.
So how do you best help your team close and keep your forecast intact? The good folks at Gong published another amazing data-backed guide on the top 5 things to focus on in order to close more 6-Figure Deals.
Their top 5 tactics:
Connect with Multiple Stakeholders
Deal value rises significantly when more buyers are involved in a deal
Sell as a team
Deals that involve three or more personas on the seller’s side have a 300% increase in close rates
Get to power
Without a decision-maker involved, your deal is 233% less likely to close
Handle unexpected roadblocks
Presenting ROI correlates with a 27% drop in close rates. Instead, use ROI to introduce before-and-after stories from clients who faced similar challenges
Maintain momentum
Closed-won deals exchange 339% more emails than closed-lost deals
STRETCH SNIPPETS
🧵Kyle Coleman says, on average, deals over $100k require 19 meetings with 14 different external stakeholders. MULTI-THREAD FTW.
🥇Want to win enterprise SaaS deals? It’s not always about the external sale — to the prospect. Brandon Fluharty says It’s also about the internal sale. It’s critical that you get your company rallied behind you.
😬 Jason Lemkin says the riskiest deals of all are Small Deals at Large Companies. Treat those like an unclosed opportunity and allocate resources accordingly.
🕵️♂️ Most sales are made during discovery, NOT at the closing stage of a sales cycle. So rather than pitching your product or scheduling a demo early on, pitch your discovery process first. says Ian Koniak
⏱Listen to Colin Spector discuss how to navigate landmines during a competitive deal cycle in this 30 Minutes to Presidents episode with Nick and Armand.
🧠 Mindset
Thanks for reading!
My hope is if you find this valuable, consider sharing it with friends (or signing up if you haven’t already).
— Grant 👋
About stretch vp: confessions, learnings, and insights from sales leaders in SaaS
Compiled and aggregated from a network of sales leaders in SaaS, Stretch VP showcases learnings, insights, and experiences as well as best practices to overcome common hurdles, obstacles, and setbacks in your quest for excellence as a sales leader in SaaS.
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