Going after small deals can only keep a company busy for so long. After awhile, the lure of closing bigger and more profitable deals forces a company to attack these larger segments. XANT runs an on-going research study called the Business Growth Index. This study provides unprecedented forward-thinking insights into sales growth drivers and team performance. A key discovery from the data revealed that companies are indeed targeting bigger deals in comparison to the previous year as sales cycles are 6.4% longer, close rates are 2.1% lower, and deal size 5.5% larger.
In This Episode You’ll Learn:
- Practice account-based sales – Bigger deals require a different strategy. If you’re serious about whale hunting, you’ll need to figure out an account-based strategy that focuses on target accounts, a personalized outreach strategy, and value-based selling.
- Solidify the sales stack – When leadership was polled to determine what sales acceleration technologies were most utilized to close large deals – CRM, sales intelligence, sales presentation, and data list services topped the list.
- Practice pipeline management – Pipeline management is fundamental to closing large deals. Thinking through a structure and a strategy is key
- Manage your sales people – A management cadence requires an annual, semi-annual, quarterly, monthly, and weekly cadence of activities.
- Provide individual and team coaching – Everybody needs a coach. Coaching programs should happen weekly and should provide tools for reps to sell more.
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