Matt talks with Josh Wagner, the host of the Loving Selling Hate Sales podcast, about the basics of the Sales Mindset and the Sales Process. Matt delved into the difference between the typical sales approach of startups and their bigger counterparts. While discussing the art of leveraging on social media, Matt touched on the widespread core business baseline knowledge deficiency and the importance of incorporating sales and marketing.
Podcast: Love Selling Hate Sales Podcast
Episode: The Sales Mindset – with Matt Wolach
Host: Josh Wagner
Guest: Matt Wolach, a B2B SaaS Coach, Entrepreneur, and Investor
TOP TIPS FROM THIS EPISODE
The Demo Is More than Just the Demo
To Matt, there is more to the Demo than just showing the product. Demos are about matching clients’ needs with your product. Demos should be more about engaging and helping clients.
Matt thinks Demos offer a great opportunity to apply the Perfect D.E.A.L Process. This process helps you discover the hidden needs of your clients. This process also helps you educate your client on the vital pieces of information that they might have missed or overlooked. The process also helps you associate your end solution to the client’s pain while Leading and taking charge of the conversation all the way.
Build Trust but Never Forget the Fundamentals
For startups, Matt advises they focus on gaining equity through building trust. The market’s trust has to be earned.
For bigger and matured companies that have got equity and trust, Matt advises that they do not become too reliant on the product or the brand as it makes it easier for them to forget the fundamentals and start slipping into bad habits.
Make Technology Work for You.
Matt understands that there is a need for companies to learn how to scale in the digital transformation era. The much talked about future of work is here and huge offices bases are being dissolved. Matt says that the community of salespeople needs to learn how to become relevant and become collaborative while working remotely.
As technologies force their way into the sales domain, Matt expects salespeople to utilize the vast possibilities it accrues to them. Salespeople have to remain digitally relevant to their prospects. Matt advises salespeople to use technologies to bond, engage and help clients.
Leverage on the Power of Social Media
Matt thinks that it is important that salespeople try to be thought leaders that try to dominate their niche or industry. The social media as well as a whole lot of today’s digital capabilities makes it easier to rule your world.
Matt believes that with strategic content creation backed up with leveraging on partnerships and value creation, an individual or a brand can rule a niche.
Invest in the Right Kind of Knowledge
Having core business baseline acumen is a prerequisite for business success. As such, as there is a need to “invest in the right kind of knowledge because History 334 where you learned about medieval Greek history is not going to help you close deals and start a business. It is important to invest in the knowledge and philosophy of business and to understand the dynamics of business.”
Incorporate Sales and Marketing
“It is important that you have the marketing mindset right from the start. Once you start having funds available, do bring on someone knowledgeable about how to increase brand awareness and how to create some buzz in the market.”
“Getting marketing and sales align toward generation means that marketing would drive the right and the best leads.”
Find Your Niche and Rule it
“If you can define your niche and dive down into it, you can be one of the thought leaders in that niche within a short time. Yes, Jeff Bezos might rule a bunch of industries but in that tiny segment of yours, you can be a thought leader.”
“If you drill into that group of people and you dominate, then you can move on to the next niche and rule. Focusing on a niche at a time helps you accelerate growth faster than being broad.”
[5:15] “The worst demo is a demo that shows the product alone.”
[12:00]” If you are a startup, you have to earn the market’s trust.”
[19:09]” While working remotely, the community of salespeople need to learn how to become as excellent, as motivated, and as collaborative.”
[32:45] “If you can define your niche, and dive down into that niche, then you can be one of the main thought leaders in that niche.”
[35:21] “You know you have made it If your prospects think you are one of them.”
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.
As part of the founding team in his first SaaS product, Matt owned the sales & marketing processes. But he struggled to sell and gain traction for the company. It took years of learning and tweaking before Matt created The Perfect DEAL Process, an innovative yet easy to implement method for closing more software deals. To find out more, visit https://mattwolach.com/about-matt.