Open and Advance
Battle tested, actionable tactics to open more deals and advance the ones we're already working
This week we’re hearing from sales gurus with some great advice and tactics on ways we can not only open more deals, but advance the ones we’re already working with.
I’m positive this week’s email includes some actionable tactics to spark some immediate results.
In this week’s edition of Stretch Weekly -
Scott Barker hosts Becc Holland to discuss specific sales plays for Inbound, Postbound, Bridgebound and Outbound initiatives.
Shruti Kapor shares just the mention of objections can lead to an increase of win rate by nearly 30% (if handled appropriately)
Steli Efti on following up: How to Get Everything You Want by Doing What Nobody Else Does
Plus more timely snippets to help you open more, and advance the deals you’re working.
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
Comprehensive Encyclopedia of Sales Plays
Really insightful webinar with Becca Holland breaking down 4 distinct categories of leads and appropriate sequences and personalization methods to communicate, engage and activate each. Definitely worth sharing to help our teams gain more predictability in building pipeline.
Inbound (hand-raisers)
Demo requests
Chat-bot requests
Postbound (Non hand-raising marketing leads)
Content downloads, webinar /event registrants, social followers etc.)
Bridgebound (higher likelihood to buy or take a meeting)
1. Based on Relationship (common VC, referrals, networking events etc.)
2. Based on History (past interaction with company, closed lost, demo request - didn’t schedule, ghosted/dark)
3. Based on Symptoms, Pains, Problems (negative reviews of your competitor, positive/negative sentiments in market)
4. Based on educated guess they’re “in market” (evaluating competitor, intent to buy and other triggers)
Cold Outbound (none of the above -personalization is key)
Selling in The Face of Sales Objections
Shruti Kapor, CEO of Wingman penned a good piece on how objections actually can positively affect win rates by almost 30%! She then pulls some data and identifies the 6 most common objections on sales calls and their impact on deal outcomes.
Most common objections (followed by propensity to close if handled appropriately):
Budget (79% decrease in win rate)
Authority (60% increase in win rate when mentioned)
Interest ( Loss rate increased 14%)
Trust (win/loss both dropped %%)
Timing ( 31% increase in win rate)
Status Quo (40% increase in win rate)
The Follow-Up Formula
Stumbled upon this short e-book from Close founder Steli Efti on following up: How to Get Everything You Want by Doing What Nobody Else Does….
Take literally 10 minutes to read this short, 93 page e-book and then share it with your team. Nothing too earth shattering here, but I’m willing to bet you’ll pick up something new, or vow to sharpen your focus on following up.
Speaking of ghosting, I loved this line from Steli:
“But here’s the kicker - if they don’t respond at all, I will keep pinging them until they do. And trust me, they always do.” - Steli Efti
STRETCH SNIPPETS
👻 Doug Landis warns that 60% of your pipe is likely going to push, ghost, disengage, or pull out of your evaluation / process. Why? Because you haven't helped your buyers overcome their Status Quo Bias!
👣 Jason Lemkin gives his thoughts on How to Get Ahead in SaaS Sales in 7 Easy Steps
⏰ 5 steps that take 60 seconds or less to ensure your follow up response rates are off the charts via Sam Nelson
🧭 Koka Sexton gives us the blueprint for using Sales Navigator to identify decision makers.
📧 Chris Dankowski outlines his strategy for using recap emails to ensure better follow up and more wins.
🖥 I appreciated this recap of 6 things to ALWAYS do on your demo with Mor Assouline.
💪 Ken Sterling talks about removing weak language and writing an Email Subject and Opener That Will Actually Make People Pay Attention.
🤔 Devin Reed and John Barrows discuss the Dreaded Objection: "I Need to Think About It" Extra: No negative correlation to win rates when buyers say this. But may lengthen sales cycle.
🧠 Mindset
Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent. - Calvin Coolidge
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.
Are you a VP, Director, thought leader, or content producer in the SaaS space? We’d love to have you contribute. Contact Me HERE.
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