Chris Degnan, CRO at Snowflake and software sales legend, shares insights on selling in a recession. Topics include the mindset and action plan for sales reps, addressing challenges, understanding customer pain, having genuine conversations, and driving cost savings. They also discuss pipeline generation, personal accountability, and strategies for selling in a challenging economic environment.
Empathy and understanding the customer's challenges are crucial for sales success, regardless of the economic environment.
Having passion, knowledge, and understanding of the product or service being sold is essential for building credibility and trust with customers.
Deep dives
The importance of empathy and customer advocacy
In a tough economic environment, it's crucial for sales reps and leaders to empathize with customers facing challenges in their business. By listening and being an advocate for the customer, sales professionals can build trust and develop strong relationships. This approach is applicable not just in a recession, but in all environments, as providing value and understanding the customer's needs are key to success.
Adapting sales strategies to the current climate
COVID-19 has necessitated a shift in sales strategies, moving away from traditional methods and towards providing value to customers. Instead of being glad-handing sales reps, representatives now need to be knowledgeable and demonstrate the value of their product or service. With time and budgets limited, sales professionals must come prepared to meetings, showing an understanding of the client's pain points and finding ways to add value to their business.
Becoming a student of what you sell
Having passion and conviction for what is being sold is vital for success in sales. Being curious and asking questions about the customer's pain points helps sales reps understand specific challenges and provide tailored solutions. Being knowledgeable about the product or service being sold is key to building credibility and trust with customers.
Driving revenue and focusing on business value
In a recessionary environment, sales reps should focus on tying their offering to revenue growth and demonstrating a clear business value to customers. While cost savings and time savings are important, revenue generation becomes critical for sales success. By showing how their product or service can help generate revenue or new revenue streams, sales reps differentiate themselves and build long-lasting relationships with customers.
Chris is CRO at Snowflake and has been leading sales there for 9 years. He’s helped grow from $0 to $1B+ ARR. He’s clearly a software sales legend. So how is Chris coaching his reps and leaders during today’s recessionary environment? What should you change about your sales playbook in order to keep winning in a down market?
This is the perfect episode for sales reps, sales leaders, and founders/CEOs who are looking for advice on how to navigate selling in a downturn.
Key Takeaways:
[01:58 - 03:52] The mindset and action plan of a great sales reps in a recession
[03:52 - 05:37] A passion and conviction for what you're selling
[05:42 - 07:09] Addressing specific challenges of today, adding value, saving money
[07:16 - 10:29] Understanding customer pain in difficult macro environments, solving for competitor gaps
[10:34 - 13:03] Don't waste people's time, have a genuine conversation
[13:06 - 15:27] The business value of Snowflake's model
[15:28 - 18:42] Increasing sales, driving cost savings and business value
[19:38 - 26:34] How sales reps and leadership should be thinking about success
[26:35 - 31:27] Pipeline generation and sales success
[31:26 - 32:45] It's easy to blame others
[32:45 - 36:27] Dealing with smaller budgets and cultivating empathy and problem solving
[36:27 - 39:14] Preparing for 2023 budgets and planning differently
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode