How to Use Data to Win More Deals – with Nik Mijic
When it comes to data, people’s impression is that it’s usually part of the company’s quarterly review or all about the KPI. But what if I tell you that data can also be used as a magnetic lead generator that will cement your deals? How? The key phrase is data-driven content.
Matik Co-Founder and CEO Nik Mijic chatted with B2B SaaS Sales Coach and Host Matt Wolach about the magic of data in any of your sales presentations. He also explains that a captivating story must unfold in the prospects’ minds for data to be enough. Watch and discover how you can move your leads to shake hands with you through data presentation!
Podcast: SaaS-Story in the Making
Episode: Episode No. 236, “How to Use Data to Win More Deals – with Nik Mijic”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Nikola Mijic, CEO/ Co-Founder of Matik
TOP TIPS FROM THIS EPISODE
Tell a Story Through Insights
People often start to have this glazed look in their eyes when they stare at a bunch of charts and graphs on the screen. The usual expectation is that data, while relevant to the company, is quite dry and dull. But it can be shorter as you present it creatively.
Just to clarify, when we said to present the data, we did not mean to summon your inner graphics designer and whip out a majestic PowerPoint. We suggest that you give a compelling story with your data. People will care when you arrange and describe data and get an “Aha!” moment.
Hook the CFO With Statistics
These days, getting a yes from the target user is no longer enough of a guarantee for a closed deal. Software salespeople have to court other company executives, like the Chief Finance Officer. The founder could be utterly delighted, but if the CFO thinks the product is terrible for the company’s finances, expect to be ghosted.
This workaround is to tailor-fit your PowerPoint to attract the math guys. How do you do it? Strategically employ data in your beautifully designed deck. Emphasize vital statistics and express how that would lead to the best ROI. Do this, and you’ll get a thumbs up from the accounting department.
Automate Your Sales Deck via Matik
Anyone from the sales or customer success teams who have had to create a presentation can attest to just how repetitive this lone task is. It’s the same drill of screenshots and stitching together various graphs from different tools only to wait to receive access from another department. In short, it’s a repetitive and mundane activity.
But instead of wasting valuable time that can be considerably large depending on the number of data sets and clients, you must go through, why not delegate the task to software instead? With the magic of Matik, all you would need to do would be to link your other software, and it would do the bulk of the work for you. You need to tweak it a bit to focus on the much more fruitful task of bettering your conversion rate.
Hire in Twos for Sales
Most SaaS start-ups hire just one person for the sales position to test the waters or save costs. Mijic and Matt disagree with this perspective, however. They assert that companies should hire two salespeople at the very least.
Mijic explains that getting more than one employee for sales is needed to spark competition. Instead, it creates a mutually beneficial dynamic within the sales team. Ideally, both employees will work together and help each other out, perhaps by providing feedback to one another. Both parties will also fill any potential gaps, leveraging each salesperson’s unique strengths.
Matt further explains that it’s also a way to have a good benchmark for the sales team’s performance. Again, it’s not to spark any rivalry, but it utilizes healthy comparisons between the sales team members. Also, if both salespeople fall below the target, it can indicate that there is a problem that needs to be resolved beyond the sales team’s process.
Get a Designer Early On
The early stage looks different for many SaaS founders, but one thing Mijic can vouch for is their earlier acquisition of a designer. Getting a designer onboard was a huge help as it was a strong support during the product development. It also accelerated their growth by allowing them to focus on other essential business matters.
Having a designer allowed them to test their ideas and see if it’s feasible before they started pouring hours into writing the code. They also got feedback on their ideas, which helped to address any blind spots before even having a customer try it. The designer also contributed to the ideation process, leading to even more value for the company.
Data Fosters Client Trust
To some extent, we all look at data before making any business decision. And in the world of business, data reigns supreme. You can talk about the features of your products and why they’re fantastic, but to get a client sold on the idea, you need to back it up with concrete evidence. This is where data fits into the process. Data is the bridge that gets the customer from the frustrating problem to the ideal result.
Data Reinforces Emotions
Some people may think that logic and emotions are two contrasting things, but Matt and Mijic think otherwise. As the adage goes, “people buy with emotion and justify with logic.” We all know how crucial it is to get prospects emotional during the sales process. But appealing to the rationality of the customer is just as important. Remember, synchronizing emotions and data in sales will likely result in a successful close and long-term retention.
Culture is a Foundation of Success
Mijic is yet another testimony to the power of good company culture. In this age of innovation, he firmly believes that it’s not the technology that wins. Instead, it’s the people that are behind the technology. Mijic thinks it is vital to form an amazing team aligned with the company’s soul. This is why before Mijic and his co-founder wrote a single line of code for their product, they envisioned what culture to root the business on and spelled out the core values.
[4:22] “I’ve always wanted to start a company. I’m originally a refugee. So I think the American dream is to start your own company and go down that path. But I never knew what I wanted to do. And I’ve always been passionate about data. I’ve always been passionate about storytelling. And thought, hey, this is a great idea.”
[10:47] “Showing data for the sake of data is not a good thing. You want to be able to take data and transform it into insights that will then tell a good story.”
[6:29] “Make sure you have data. Make sure you back up everything, like data. Make sure you can build that trust and show people the potential and what’s out there.”
[10:13] “We use that same exact terminology: Arm your champion. It’s kind of like in Game of Thrones when you can have trial-by-combat. You’ve got your champion that you pick to be that person, and you have to make sure that they are well aware of how to help you and take care of you. You’ve got to an arm that champions and one of the best ways is using data.”
To learn more about Nik Mijic and Matik, visit https://www.matik.io/.
You can also find Nik Mijic on LinkedIn at: https://www.linkedin.com/in/nikola-mijic-9012201b/.
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/