How to Avoid "Mid-Funnel Fallout" | Nigel Burns - CRO @ Colibri.ai

How to Avoid "Mid-Funnel Fallout" 

1. Why your deals are dropping and not moving 
2. 5 key things these enterprise deals are falling out 

1. You’re a business person, not a seller 
2. your role is a consultant and go in and solve problems 
3. remove yourself/your product from the equation

Summary:

• Mid-Funnel Fallout and its Causes with Nigel Burns. 0:00

  • Five reasons why deals are getting stuck in the middle of the sales process.

  • North Stars are important for setting direction and aligning the organization, but they can be lost in the shuffle if not big enough or compelling enough.

• Sales strategies for successful deals. 3:47

  • Focus on linking opportunities to strategic initiatives for faster approval.

  • Developing relationships across departments is crucial for project success, especially with existing clients.

    Red Flags in dealing with champions: hesitance to involve other stakeholders in the business.

  • Understand how the business evaluates and acquires new technology, as champions may not know the full process.

• Sales strategies for IT deals. 10:07

  • Sellers should help buyers understand the process of buying technology by providing a map or checklist of steps, ensuring a smooth and successful purchase.

  • Sellers are afraid to lead in this area due to a misconception that it's not their job or that they're just facilitating the buyer's purchase, but it's important to help buyers understand the process to build trust and ensure a successful outcome.

  • IT departments prioritize projects based on organizational goals, slowing down non-prioritized initiatives.

  • Difficulty aligning sales efforts with IT group's strategic initiatives, leading to lost deals.

• Sales strategies for closing deals and improving forecasting accuracy. 17:06

  • The importance of addressing five key challenges in enterprise deals, including aligning with a North Star and understanding how the technology will be used.

  • The biggest challenge people miss is not making the vision for the deal compelling enough, leading to confusion and overwhelm.

  • Accurate forecasting helps sales teams close deals, gain strategic influence, and secure new resources.

    Prioritizing deals six months out allows for better forecasting accuracy, improved communication with leadership, and increased credibility.

• Sales strategies and techniques for moving deals forward. 22:17

  • Mid-funnel fallout by following a rigorous process in initial meetings.

  • "Start with Why" by Simon Sinek for sales teams to build trust and frame conversations.

  • An elite seller as someone who understands their client's business operations and can articulate how their product addresses specific business needs.

  • Importance of being a consultant and building trusted relationships with clients.