How To Set Next Steps In Sales With The 5 Minute Drill

How To Set Next Steps In Sales With The 5 Minute Drill

There is an extreme over-rotation in sales on setting next steps. Setting next steps is NOT always a good thing. 🛑 Bad: Never setting next steps 🟡 Okay: Setting steps on every deal 🟢 Good: Setting steps on REAL deals Instead, first determine if the deal is worth setting next steps with at all. Then, you should recommend the appropriate next step, but only if your prospects have proven that it's worth keeping them in your pipeline. That's where the Five Minute Drill comes in: Three questions you can ask at the end of every single call to determine if and how you set a next step. 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 1: 𝐃𝐨 𝐘𝐨𝐮 𝐖𝐚𝐧𝐧𝐚 𝐁𝐮𝐲? If you can practice ONE THING, it's this. Any time you offer a demo, a pilot, a proposal, you are giving your time away to a prospect. And that's fine. But only if you get something in return. If you're investing more time with them, you should expect that they won't waste it and affirm that this is actually leading somewhere. 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 2: 𝐖𝐡𝐞𝐧 𝐝𝐨 𝐲𝐨𝐮 𝐰𝐚𝐧𝐧𝐚 𝐛𝐮𝐲? You can't properly suggest a next step until you understand their timeline to solve the problem we just agreed upon. If they want to solve this problem in 3 weeks, we'll use their answer to drive far more urgency than if this weren't a problem to solve for 6 months. 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 3: 𝐇𝐨𝐰 𝐝𝐨 𝐲𝐨𝐮 𝐰𝐚𝐧𝐧𝐚 𝐛𝐮𝐲. Guess what, the last question isn't a question. You should always suggest and confirm next steps because you've sold your software far more times than they've bought it. Frame your ask in terms of their best interest, not yours. Based on what you learned in the first two questions: what is the next step you need to take to solve their problem by the time they want it solved? And don't just suggest one next step, suggest next-next steps so they explicitly buy into a sales process, not a free 60 minute demo. Full breakdown of the 5 minute drill: https://www.30mpc.com/newsletter/how-to-set-next-steps-in-sales-with-the-5-minute-drill Join our weekly newsletter: https://hubs.li/Q02NJQ8p0 Things you can steal: https://linktr.ee/30mpc_youtube #30Minutestopresidentsclub #30mpc

Episoder(517)

Hall of Fame: Charly Johnson Ep. 114

Hall of Fame: Charly Johnson Ep. 114

FOUR ACTIONABLE TAKEAWAYS Start your email with research personalization to stand out in the inbox (vs generic greeting). Quote the prospect/company directly by researching where the company is investing its money (e.g. in job postings, funding announcements). Use a more humanized approach when prospecting. Sharing something you both have in common in the P.S. is a great place to add a human touch. Reach out to your prospect immediately after they engage with your content - no need to wait for the next sequence step. PATH TO PRESIDENT’S CLUB Senior Account Executive @ Salesloft Team Lead, Sales Development @ Integrate SDR @ Akkroo, an Integrate company Enterprise SDR @ PatSnap RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

15 Apr 202430min

210 (Lead) Turning Pressure to Productivity for Happier Reps (Adam Ochart, Gong)

210 (Lead) Turning Pressure to Productivity for Happier Reps (Adam Ochart, Gong)

FOUR ACTIONABLE LEADERSHIP TAKEAWAYS The best reps never ask the same question twice. Turn pressure to productivity. Our job as leaders isn’t to pass pressure; it’s to use pressure to get more out of our reps. Ask your reps, “I look forward to seeing how you answer that question.” Listen early, join late. Pre-prep and game planning will save you some time in the long run. PATH TO PRESIDENT’S CLUB Manager, Commercial Sales @ Gong Mid-Market Account Executive @ Gong Senior Commercial Account Executive @ Gong Commercial Account Executive @ Gong RESOURCES DISCUSSED Join our weekly newsletter Things you can steal Want more Gong x 30MPC Content? Check out the Masterclass we filmed.

11 Apr 202431min

209 (Sell) Winning Technical Deals by Leveraging Your Entire Company (Shelby Ferson, Databricks)

209 (Sell) Winning Technical Deals by Leveraging Your Entire Company (Shelby Ferson, Databricks)

FOUR ACTIONABLE TAKEAWAYS To learn about what’s going on in other parts of your organization, get on the email alias distribution lists. Build out your go team of people that you can rely on in legal, product, marketing, deal desk, etc. so that you’re never stuck trying to figure out how to get a function to help you with a deal. To determine the next steps and what’s important to a buyer, ask, “Say you’re evaluating a few technologies, and they’re similar. What are the things that make you pick one over the other?” When dealing with technical buyers, always under promise so you don't lose credibility. PATH TO PRESIDENT’S CLUB Named Account Manager - Digital Natives UK @ Databricks Named Account Manager - Digital Natives @ Databricks Snr Manager, Commercial Sales, ANZ @ Databricks Enterprise Account Executive @ Databricks RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

9 Apr 202433min

Hall of Fame: Stephen Guerguy Ep. 100

Hall of Fame: Stephen Guerguy Ep. 100

FOUR ACTIONABLE TAKEAWAYS Challenge your prospect on fit early and often to test buy-in. Set landmines for competitors during the requirement-gathering phase. Require an exec-level bridge with your CEO instead of spending hours on an RFP. Use carrots to drive close when internal compelling events are lacking. PATH TO PRESIDENT’S CLUB Head of Strategic Accounts @ Monte Carlo Enterprise Sales Leader @ Monte Carlo Former Enterprise Sales @ Segment (acquired by Twilio) Former Commercial Sales / Founding AE @ WePay (acquired by JP Morgan Chase) RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

8 Apr 202432min

208 (Lead) Why Your SDR Team Should Be Pipe Gen Forecasting (Maya Connet, Clari)

208 (Lead) Why Your SDR Team Should Be Pipe Gen Forecasting (Maya Connet, Clari)

FOUR ACTIONABLE LEADERSHIP TAKEAWAYS Booked meetings over the last 2 quarters times conversion rate = early quarter forecast for SDRs. There's a top-down financial plan and a bottoms-up forecast. Use that to calibrate the SDR team on exactly what they need to attack to hit their number but ensure we don't put pressure on the AE team when they walk into quarters with low coverage. Everyone has to forecast at top of funnel. Marketing, SDR, even the account directors should have top of funnel quotas to meet. All of those roll up into one big bottoms-up forecast that tell you if you're gonna hit your number in three months. How you leave the batter's box matters. Make SDR forecasting easier by getting half of your meetings on the books already. After the third objection, have your SDRs tell the prospect that they’ll reach out again in 30 days and have them send a five minute hold as a reminder. They will enter the next month. PATH TO PRESIDENT’S CLUB VP of Inside Sales @ Clari Global Head of Inside Sides and Revenue Development @ Clari Director of Sales @ Clari Enterprise Sales Director, West @ Clari RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

4 Apr 202432min

207 (Sell) Building Your Own Technical Depth in Sales Demos (Mike Tran, Grammarly)

207 (Sell) Building Your Own Technical Depth in Sales Demos (Mike Tran, Grammarly)

FOUR ACTIONABLE TAKEAWAYS If you don’t have enough pain, ask for some documentation prior to the demo. The SE should reaffirm and ADD 15 minutes of discovery on the front end of the call. Link the demo portions specifically back to WHO SAID they had the problem. Give your champion an email sequence to share with people during the PoC. PATH TO PRESIDENT’S CLUB Senior Manager, Sales Engineering @ Grammarly Senior Sales Engineer, Value Realization Lead @ Grammarly Sales Engineer @ Grammarly Solutions Consulting & Customer Insights @ Onera, Inc. RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

2 Apr 202429min

April Special: The Future of Sales AI ft. Corporate Bro

April Special: The Future of Sales AI ft. Corporate Bro

ACTIONABLE TAKEAWAYS Do the opposite of every single thing Corporate Bro Says Listen to Corporate Bro on his podcast Demoted Follow Corporate Bro on social: Instagram and YouTube RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

1 Apr 202421min

206 (Lead) Implementing a Concession Approval Matrix & Framework (Ross Shanken, Multiplier)

206 (Lead) Implementing a Concession Approval Matrix & Framework (Ross Shanken, Multiplier)

FOUR ACTIONABLE LEADERSHIP TAKEAWAYS Effective Monday Team Meetings. Add an element of fun to your Monday meetings. Follow the framework: Connect, Learn, Communicate, and Prioritize. Tuning Your Discount Matrix. Look at your current avg. discount, then make the matrix a bit better. Get a little incremental revenue out of improving discounting. The multi-Year Deal Grid. Show where a customer’s cost might change as they grow / shrink. But don’t pre-agree to growth. Speedy Meetings Are Better Meetings. Consider starting all of your meetings at the :05 mark to avoid perpetual call delays and unfocused discussions. PATH TO PRESIDENT’S CLUB VP of Sales @ Multiplier Limited Partner @ GTMfund Head of Sales, New Products @ Lattice Director of Sales, Strategic & Corporate @ Lattice RESOURCES DISCUSSED Join our weekly newsletter Things you can steal

28 Mar 202433min

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