EPISODE SUMMARY
Did you know that only 3% of salespeople become elite at closing deals? Sadly, while dedicated reps eventually become good, their true potential remains unrealized without the right process. And you know what else that translates to? Recurring losses from unrecognized sales.
Thankfully, Ringbot CEO & B2B SaaS Sales Coach Matt Wolach is here to save the day with his Perfect DEAL Process. Not only does he share this life-changing sales motion with Novah Co-Founder and CEO Joe Petruzzi, but he also provides a ton of other incredibly helpful insights. Watch the podcast and join the ranks of the sales elites as a highly wanted serial closer!
PODCAST-AT-A-GLANCE
Podcast: Sales Team Metrics Podcast
Episode: Top 3% SaaS Demos ft. Matt Wolach
Host: Joe Petruzzi, Co-Founder & CEO at Novah
Guest: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
TOP TIPS FROM THIS EPISODE
Discover the Real Problem
Sometimes, your prospects come to you thinking they know what they’re looking for. And then oftentimes, they think they know what is wrong. Always remember that there is a reason why they’re coming to you. It’s most likely that they have not accurately diagnosed the core problem.
For someone in SaaS, your job is so much more than just lead conversion. You’re not only a challenger, you’re also a helper. In this case, though, it’s more accurate to be called a problem solver. You have to make them realize what the real problem is, exactly how bad it is, and then make them feel the pain so that they act on it.
According to Matt, there are three steps to pain which are elaborated further with a brilliant analogy in the podcast:
- Identify the most pressing issue
- Make the prospect accept the real problem
- Get them hurt enough so that they finally get the needed solution
Educate on the Solution
Now that you’ve found the prospect’s true pain points, it’s time to work on fixing the problem. Begin this by teaching the customer the possible solutions to the problem. You can do this by talking about how other companies you work with have dealt with this exact same problem.
Apart from giving the customers multiple options, knowing the moves the competitors made gives a gist of the playing field. Big picture view aside, you also have to zoom into the details by dissecting the pros and cons of each solution. You can then wrap up this part of the D.E.A.L by pointing out the best solution.
Associate Your Product as the Solution
Ideally, the best solution to the customer’s problem is what your product offers. The customer, however, may not see it that way and so it falls on you to help the customer connect the dots. Simply put, it’s time for the product to shine.
You have to establish your product as the perfect cure to the customer’s problems. When they think of your product, they have to see this holy light coming from it. This may seem like an exaggeration but this association will turn your sales efforts into a done deal.
Lead the Prospect
Throughout this process, you have to be the one with the steering wheel. Think about it this way. If someone visits your city for the first time and there’s no Google Maps, would you let them drive? In sales, not only will the prospect be lost in the conversation, chances are so will your conversion.
Preventing the tragic end of your discovery call aside, taking control also establishes you as the expert. And you know what? People naturally follow authorities. So confidently hold the reins and successfully reach the finish line with your customer. Never forget that no one knows your sales process better than you do, and no one sells your product better than you.
EPISODE HIGHLIGHTS
Discovery is More Than Finding Fit
Most of the time, salespeople go straight to the demo when they hear the prospect say, “That’s what I’m looking for.” But the truth is that’s not good enough. A good discovery is all about getting to know the customer and their pain. Do this part right and you can get lucky by having an instant close.
Process Sells, Product Retains
For a lot of us in sales, we think it’s the product that makes the customers buy. After all, our job is to sell the product. But in reality, that couldn’t be further from the truth. The product’s job in sales is actually to keep the customer. As long as it’s good, you get that sweet retention rate you’re vying for. On the other hand, if you have the right process, your prospect will sign with you.
Process Makes Your Product Stand Out
You might think, “But Matt, that still doesn’t make sense.” Put yourself in a buyer’s shoes. Imagine going through multiple calls and product demos. You’ll eventually see all the products as the same because of pure information overload. But if you have a unique and super-effective sales process, which is what The Perfect D.E.A.L. Process does, you’ll set yourself apart from your competitors.
The Perfect D.E.A.L Process Works Great with Competition
Have a lot of competition? That’s even better! Circling back to the previous point, the product stands out due to the sales process, right? Guess what, the more there is to compare it with, the stronger the impact is. And if you have a big enough magnitude, you can even crush the hesitations of your lead and make them buy on the spot.
TOP QUOTES
Matt Wolach
[1:40] “I love the grind of SaaS startups. It’s super, super exciting. It’s great building teams, building processes, determining how you’re going to be able to do anything, and then hiring the people to be able to do that and running that team. And all of that is super fun.”
[6:59] “And so I realized I need a process. And once that happened, and that was kind of a lightbulb moment; created a process, brought in two guys who didn’t have the same background or same experience but because they followed the process, they crushed it.”
[26:40] “I’ve seen mediocre products be super successful. I’ve seen great products not be successful. It’s about your sales process.”
Joe Petruzzi
[29:14] “When you’ve got this demo or service, you have to be the expert. And it’s almost like your product or service is kind of filling this– like this gap.”
LEARN MORE
For more about how Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/
You can also find Matt Wolach on LinkedIn at:
