[Tactics] Multi-threading: Using "give to gets" to get to power
Mar 19, 2024
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Explore how multi-threading in deals results in higher win rates by engaging multiple stakeholders. Learn about the 'give to gets' strategy to align with buyers' desired outcomes and secure commitments for successful deals. Navigating demo preparation and securing commitments for future actions is also discussed, emphasizing the importance of aligning on the buyer's desired outcome and involving key stakeholders through effective communication strategies.
Engaging multiple stakeholders increases win rates in deals.
Using 'Give to Get' framework aligns efforts and secures commitments in sales interactions.
Deep dives
Importance of Multi-Threading in Sales Deals
Engaging multiple stakeholders in sales deals significantly increases win rates. Data from various sources confirms that involving four to five stakeholders in a deal leads to two to three times higher win rates compared to deals with just one or two contacts. When representatives have two or more people in the second sales call, win rates can almost double. Multi-threading involves getting key decision-makers aware of and involved in a deal to prevent it from stalling.
The Gift to Get Framework for Sales Success
The 'Gift to Get' framework emphasizes aligning with the buyer's desired outcomes, contextualizing the efforts invested by the sales team, and securing commitments on next steps. By aligning, contextualizing, and asking for commitments during interactions such as demos, sales reps can ensure progress and involvement of relevant stakeholders. This approach helps in structuring engagements effectively, especially in situations like demos or pilot projects, by clarifying success criteria and agreeing on next steps based on achieved outcomes.
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Maximizing Deal Success through Multi-Threading and 'Give to Gets'