Outbound Squad
Mark Kosoglow multi-threading and running tight sales cycles
Tue Jun 13 2023Description
The episode covers various aspects of sales, including the language used in sales, building an incredible sales team, a process-driven approach, effective deal management, key steps in the sales process, multi-threading in sales, effective sales strategies, and engaging executives in sales.
Insights
Friction in Sales Language
Prospects want to be told and react, they don't want to do all the work. Dealing with below-the-line prospects requires a different approach than above-the-line prospects.
Building an Incredible Sales Team
The original vision for Outreach was developed through a cadence or sequence approach to prospecting. The speaker joined Outreach and sold a million dollars worth of outreach in six to seven months. Outreach allowed for managing multiple accounts, people, and touchpoints simultaneously. The role of SDRs exploded with the convergence of technology and lack of discipline among young sellers. Sales engagement tools were not widely available a decade ago. They learned how to hire, create systems, scale, forecast through personal experience.
Process-Driven Approach in Sales
Having processes that their brain trusts unlocks their creativity and ensures they don't forget the best way to do things. In their role at Catalyst, they introduced a process-driven approach, which initially shocked the sales executives. Their team members found that having processes freed them up to do their best work. The speaker has two colleagues who balance out their process-oriented approach with a focus on mindset, energy, and individual well-being.
Effective Deal Management
Stage-based deal management with specific accomplishments to move forward is more effective than meeting-based processes. Understanding the buyer's business initiatives and mapping out the organization are crucial before moving to the next stage. Quantifying business initiatives and setting implementation timelines are also important steps in the sales process.
Key Steps in the Sales Process
Two key things to do in the sales process: Qualify Business Initiatives and set an implementation date. Meeting-based stages are not suitable for large enterprise deals with multiple threads and journeys. Skill development is crucial in quantifying business initiatives and understanding metrics. Anchor criteria at each stage help move the deal forward and provide toe holds for buyers. SMB deals can be done with meeting-based stages, but mastery of specific skills is required. Stage three involves confirming metrics and identifying required capabilities. The final stages include getting approval, executing a contract, and smooth onboarding. Tightening up the sales process is more important than relying solely on outbound efforts.
Multi-Threading in Sales
Multi-threading, involving multiple stakeholders in the sales process, is crucial to combat the complexity of buying decisions. Different personas within an organization have different needs, so it's important to sell mini deals to each persona. When dealing with inbound leads, initial conversations are often with below-the-line (BTL) contacts. The goal of multi-threading at this stage is to move up within the BTL persona or reach an above-the-line (ATL) contact who can connect with other ATL personas. Value the relationship with the initial contact and explain that involving executives will lead to better results and alignment with business initiatives. For BTL contacts, go up within their persona. For ATL contacts, go wide and involve other departments for consensus on solutions.
Effective Sales Strategies
BTL should go up, not wide. ATL should go wide. The goal is to help people make confident decisions, not just win a deal. Selling a world-class product is important for success. Involving peers in the decision-making process increases confidence and avoids wasted time. If someone is unwilling to involve others, offer a price-based decision and truncate the sales cycle. Honesty and passion are key in sales conversations.
Engaging Executives in Sales
Executives should engage in multi-threading and make it easy for the rep, but they also owe some things back like reading drafted emails and handling follow-ups. Executives need to up level the conversation and focus on the narrative of what they do rather than just talking about features and functionality. Executives should have their executive mode and executive selling mode, understanding their purpose in a deal. It's important to know the outcome that the prospect wants to accomplish in a sales call. Buyers often want to be told what to accomplish and then react to it, so setting clear goals is crucial. Adding human soft skills and principles can level up the entire sales process. A flexible framework for discovery calls can be used in any conversation to get desired outcomes. Engaging prospects in discovery calls should make them feel helped rather than sold to.
Chapters
- Friction in Sales Language
- Building an Incredible Sales Team
- Process-Driven Approach in Sales
- Effective Deal Management
- Key Steps in the Sales Process
- Multi-Threading in Sales
- Effective Sales Strategies
- Engaging Executives in Sales
Friction in Sales Language
00:01 - 07:01
- Prospects want to be told and react, they don't want to do all the work.
- Dealing with below-the-line prospects requires a different approach than above-the-line prospects.
Building an Incredible Sales Team
06:33 - 13:29
- The original vision for Outreach was developed through a cadence or sequence approach to prospecting.
- The speaker joined Outreach and sold a million dollars worth of outreach in six to seven months.
- Outreach allowed for managing multiple accounts, people, and touchpoints simultaneously.
- The role of SDRs exploded with the convergence of technology and lack of discipline among young sellers.
- Sales engagement tools were not widely available a decade ago.
- They learned how to hire, create systems, scale, forecast through personal experience.
Process-Driven Approach in Sales
13:05 - 19:47
- Having processes that their brain trusts unlocks their creativity and ensures they don't forget the best way to do things.
- In their role at Catalyst, they introduced a process-driven approach, which initially shocked the sales executives.
- Their team members found that having processes freed them up to do their best work.
- The speaker has two colleagues who balance out their process-oriented approach with a focus on mindset, energy, and individual well-being.
Effective Deal Management
19:20 - 26:18
- Stage-based deal management with specific accomplishments to move forward is more effective than meeting-based processes.
- Understanding the buyer's business initiatives and mapping out the organization are crucial before moving to the next stage.
- Quantifying business initiatives and setting implementation timelines are also important steps in the sales process.
Key Steps in the Sales Process
25:52 - 32:43
- Two key things to do in the sales process: Qualify Business Initiatives and set an implementation date
- Meeting-based stages are not suitable for large enterprise deals with multiple threads and journeys
- Skill development is crucial in quantifying business initiatives and understanding metrics
- Anchor criteria at each stage help move the deal forward and provide toe holds for buyers
- SMB deals can be done with meeting-based stages, but mastery of specific skills is required
- Stage three involves confirming metrics and identifying required capabilities
- The final stages include getting approval, executing a contract, and smooth onboarding
- Tightening up the sales process is more important than relying solely on outbound efforts
Multi-Threading in Sales
32:27 - 39:50
- Multi-threading, involving multiple stakeholders in the sales process, is crucial to combat the complexity of buying decisions.
- Different personas within an organization have different needs, so it's important to sell mini deals to each persona.
- When dealing with inbound leads, initial conversations are often with below-the-line (BTL) contacts.
- The goal of multi-threading at this stage is to move up within the BTL persona or reach an above-the-line (ATL) contact who can connect with other ATL personas.
- Value the relationship with the initial contact and explain that involving executives will lead to better results and alignment with business initiatives.
- For BTL contacts, go up within their persona. For ATL contacts, go wide and involve other departments for consensus on solutions.
Effective Sales Strategies
39:21 - 46:03
- BTL should go up, not wide. ATL should go wide.
- The goal is to help people make confident decisions, not just win a deal.
- Selling a world-class product is important for success.
- Involving peers in the decision-making process increases confidence and avoids wasted time.
- If someone is unwilling to involve others, offer a price-based decision and truncate the sales cycle.
- Honesty and passion are key in sales conversations.
Engaging Executives in Sales
45:36 - 52:08
- Executives should engage in multi-threading and make it easy for the rep, but they also owe some things back like reading drafted emails and handling follow-ups.
- Executives need to up level the conversation and focus on the narrative of what they do rather than just talking about features and functionality.
- Executives should have their executive mode and executive selling mode, understanding their purpose in a deal.
- It's important to know the outcome that the prospect wants to accomplish in a sales call.
- Buyers often want to be told what to accomplish and then react to it, so setting clear goals is crucial.
- Adding human soft skills and principles can level up the entire sales process.
- A flexible framework for discovery calls can be used in any conversation to get desired outcomes.
- Engaging prospects in discovery calls should make them feel helped rather than sold to.