by Tim Hughes | @Timothy_Hughes
Adam Gray and I were in a meeting with a senior sales leader the other day and he asked “can you help me make eight figure deals?”.
“Of course we can” was my answer. This wasn’t some glib response, we can.
It’s worth noting that this company gave up on cold calling a long time ago.
Cold calling works, of course if you are selling low value, tactical solutions and are OK getting it sold or signed off at a low level. Selling, and let’s be honest with ourselves, at a C-Level of a multi-national cold calling won’t get you very far. In fact worse than that you are more likely to annoy people. As somebody said to me recently (they work for a large B2B software house, selling large complex solutions that cost multi-millions) “If I rang up one of my accounts and asked to be put through to the Finance Director (CFO) the reception would laugh me off the phone.”
Probably worth me saying that I cannot guarantee you can sell 8 figure deals, with what I’m about to tell you, as actually, a lot of it is down to your own execution. But we can help.
So let’s put ourselves in the shoes of our buyers.
If a company is going to spend 8 figures they will need to be buying something that will enable the business to gain strategic value. To do this I highly recommend you check out the companies financial accounts, we detailed this back in January in this blog.
This will enable you to understand what is driving the business and match back your proposition.
The next thing before you start contacting people is you need a personal brand. What do I mean by a personal brand? We all know that people check people out on the internet.
If I’m going to call upon a CEO/CFO, and I will have to if I’m going to sell 8 figure deals, then it’s highly likely one of their team will check me out on-line. If you look like a joker / spammer, I’m sorry you won’t get past first base.
In addition, you also need to look like you are the solution to the client’s problem. What do I mean by this? You profile has to look interesting of course. Why? Well to be honest we are all busy and we are inundated with people trying to sell us stuff and you need to stand out.
Now, you can go to Google and find an article on the top 20 things you need in a personal brand, I understand Hubspot do a good one. But to be honest, if you want to start selling 8 figure deals, I would suggest you need something a little better than that.
You also need to be delivering insightful and educational content, both articles you have found elsewhere but also articles you have written. Because you are the master of the area you sell (it could be Finance Transformation or Workplace management) people are going to want to see you have an opinion. You are not going to sell 8 figure deals if you are not passionate.
As a Sales Director once said to me “if you want somebody to spend $Million with you, you need to look $Million dollars”. While in those days, he was talking about your dress code, today, it’s your position on social media.
I’m going to break with my tradition of blog writing at this place, normally I don’t mention us, Digital Leadership Associates but in this case, I’m going to point out you might need outside help. Plus the business case is pretty compelling. Advert over, back to the blog.
The next thing you need to do is use Sales Navigator (Sales Nav) to profile the account you’re trying to get in to. You need to speak to as many people as you can. People with authority, people without authority (but with influence) etc etc. Sales nav will allow you to “navigate” your way around the organisation.
Please don’t send InMails, it’s the LinkedIn example of a cold call. You need to use referrals. This is where your strength of network comes in. (Something else we can help you create).
If you look at us as a business we do not outbound, everything we do is using social and through referrals.
So with a bit of background work, I’m sure you (and your team) can soon start weaving your magic around the business, it’s politics and the people.
One final suggestion, I highly recommend you use social as a way to communicate amongst the team. Email just isn’t fast enough and you are probably inundated with email already. We use Slack, but I’m sure, Chatter or Yammer is just as good.
People who read this article alsoe read these: