Revenue Builders Salescast

In this episode, John McMahon and John Kaplan, features an insightful conversation on selling to the economic buyer with guests Carl Froggett, CIO at Deep Instinct, and Joe Lynch, Sales Director for the East at Deep Instinct. Before they were colleagues, Joe sold to Carl. Carl shares his extensive experience as an economic buyer in tech deals, highlighting the importance of account executives not wasting his time with generic pitches or vendor bashing, and instead focusing on understanding his business needs. Joe discusses his approach to selling to Carl at Citi, emphasizing the value of doing thorough research, building trust, and creating a tailored value proposition. The discussion also covers strategies for forming genuine partnerships with clients, the challenges of navigating sales processes within large global banks, and the innovative threat prevention technology offered by Deep Instinct. The conversation provides valuable insights for B2B sales professionals on effectively engaging with economic buyers and fostering long-term partnerships.

Tune in and learn more about this episode of The Revenue Builders Podcast.

HERE ARE SOME KEY SECTIONS TO CHECK OUT

[00:00:45] Diving Deep: Selling to the Economic Buyer
[00:01:43] Insider's Take: Carl Froggett on Vendor Engagement
[00:07:20] Joe's Approach: Research and Value-Based Selling
[00:14:40] Building Trust and Partnership in Sales
[00:26:28] The Art of Prioritization and Flexibility in Tech Solutions
[00:33:44] Building Trust and Overcoming Challenges in Sales
[00:34:13] Innovative Solutions to Business Disruption
[00:35:51] Strategic Partnerships and Economic Decisions
[00:37:55] Navigating Internal Company Dynamics for Sales Success
[00:57:20] Deep Instinct: A New Frontier in Cybersecurity

ADDITIONAL RESOURCES

Learn more about aligning customer-facing teams to improve execution: https://forc.mx/48o1jyP

Connect and learn more about Carl Froggett.
https://www.linkedin.com/in/carlfroggett/
https://www.deepinstinct.com/

Connect and learn more about Joe Lynch.
https://www.linkedin.com/in/joe-lynch-6613745a/


HIGHLIGHT QUOTES

[00:38:48] “There needs to be transparency internally at a company about how a large global bank operates. Our product is fantastic, but they do have their procedures and their policies for how they evaluate new tech and onboard new tech and understanding what those timelines realistically look like.”

[00:54:05] “I will always pivot back to where's the value prop for my business and my company ultimately. And like I say, timing is part of it.”

In this curated episode of the Revenue Builders Podcast, John McMahon and John Kaplan, sponsored by Force Management, delve into the crucial aspect of decision criteria in sales. Joined by Anne Gary, the team dissects the intricacies of aligning decision criteria with product differentiation to secure sales success. From handling competition to managing scope creep, they provide invaluable insights into navigating the sales landscape with precision.

KEY TAKEAWAYS

[00:00:35] Understanding how competitors may adopt your terminology highlights the importance of clarifying distinctions in customer conversations.

[00:01:26] Identifying who within the company influences decision criteria sheds light on the political dynamics of the sales process.

[00:02:03] Aligning product differentiators with decision criteria ensures that customers are truly buying what you're selling.

[00:03:04] Formalizing and quantifying decision criteria is essential to avoid ambiguity and ensure accountability.

[00:04:38] Scope creep occurs when additional criteria are introduced, increasing the risk of losing the deal.

[00:06:43] Failing to define criteria rigorously can lead to irreversible setbacks, especially evident in failed Proof of Value (POV) scenarios.

[00:07:48] After a failed POV, complaining appears futile as it disregards agreed-upon rules and may damage credibility with the evaluation team and economic buyer.

HIGHLIGHT QUOTES

[00:02:21] "If you're outside of the bullseye, they're not buying what you're selling."

[00:04:58] "It's a seller's job to get the criteria to be... in their bullseye."

[00:06:43] "If you execute the POV and you haven't locked all this down... it's nearly impossible to recover from a failed POV."

[00:07:48] "Even if you did it again... you'd wind up losing again."

Listen to the full episode with Anne Gary through this link:
https://revenue-builders.simplecast.com/episodes/decoding-decision-criteria-mastering-champions-blueprint-for-sales-success-with-anne-gary/

Check out John McMahon’s book here:
Amazon Link: https://a.co/d/1K7DDC4

Check out Force Management’s Ascender platform here:
https://my.ascender.co/Ascender/

Monica Stewart is a highly sought-after go-to-market consultant with over 15 years of experience working with B2B software companies. She specializes in helping startups in the $2 million to $20 million revenue range that are selling to large organizations. Monica has worked with companies like LinkedIn, Trello (acquired by Atlassian), and Pangeva (acquired by S\&P). She is known for her sustainable growth-focused mindset and her ability to help companies bridge the gap between their current strategy and their long-term vision.

In this episode, Monica shares valuable insights and discusses common mistakes made by startups, such as not targeting their ideal customer profile (ICP) specifically enough, lacking a clear understanding of lead channels, and neglecting net dollar retention (NRR) metrics. She emphasizes the importance of narrowing the ICP, prioritizing lead channels, and implementing effective post-sale processes for long-term success. Monica also highlights the need for founders to be open to change and willing to reevaluate their strategies as their companies evolve.

HERE ARE SOME KEY SECTIONS TO CHECK OUT

[02:08] Monica's Approach to Transforming B2B Startups
[05:28] Common Mistakes in B2B Startup Growth Strategies
[15:34] Deep Dive into Ideal Customer Profile (ICP) Strategy
[20:31] The Importance of Narrowing Focus in Startup Strategy
[27:20] Understanding the Three Whys of Buying
[30:58] Navigating Leadership and Team Dynamics in Business
[31:38] The Importance of Being Present and Adaptable in Leadership
[34:48] Strategies for Effective Team Management and Role Alignment
[36:00] Embracing Change and Coachability for Organizational Growth
[37:10] The Founder's Journey: Vision, Commitment, and Self-Awareness
[45:39] Practical Advice for Founders on Prioritizing and Implementing Change
[56:40] Understanding the Role of VCs and Owning Your Business Narrative

ADDITIONAL RESOURCES

Learn more about aligning customer-facing teams to improve execution: https://forc.mx/48o1jyP

Connect and learn more about Monica Stewart.
https://www.linkedin.com/in/monica-stewart/
https://www.linkedin.com/company/msps-co/

HIGHLIGHT QUOTES

[00:53:46] "It's really the founder and it has to be because at the end of the day, there's a tremendous amount of commitment and buy-in that's going to be needed from them in order to do this work."

[00:56:23] "VC firms don't give companies money because they think that company is going to succeed, or even because they necessarily need it to succeed. They give companies money because they want to spread their risk out amongst a broad portfolio. And they know that a good percentage of the companies that they invest in are going to fail."

[00:55:53] "Once you see it, you can't unsee it. And it changes the way that you look at your organization forever."

In this curated episode of the Revenue Builders Podcast, we engage in a thought-provoking conversation with Dr. Chuck Bamford, renowned author and business strategist. Dr. Bamford sheds light on the critical issue of aligning corporate strategy throughout an organization, from top-level executives to frontline employees. Drawing from his extensive experience, he highlights the common pitfalls and challenges companies face in achieving this alignment and offers insightful strategies for overcoming them.

KEY TAKEAWAYS

[00:00:24] Alignment breakdown: Many employees, especially those closest to customers, often fail to see the relevance of corporate strategy to their daily tasks, leading to a disconnect between organizational goals and individual actions.

[00:01:39] Annual strategy setting: Corporate strategies are often formulated as a one-time event, lacking consistent follow-up, measurement, and adaptation throughout the year.

[00:02:23] Activity alignment: Bridging the gap between high-level key performance indicators (KPIs) and frontline activities is essential for ensuring organizational alignment and success.

[00:03:29] Misaligned incentives: Compensation structures and performance metrics for employees often do not align with the overarching corporate strategy, resulting in disengagement and inefficiencies.

[00:05:13] Alignment is key: Success in organizational strategy hinges on effectively communicating and aligning goals at all levels, ensuring that both strategic objectives and individual incentives are harmonized.

HIGHLIGHT QUOTES

[00:02:45] "Everything that leadership does is a hypothesis... they don't want to address what the activities are or convert it to activity metrics."

[00:03:52] "I was so disconnected from those other levels... my measurements and compensation were completely misaligned with whatever the corporate strategy was."

[00:05:38] "The compensation needs to be based on the activities that you want those employees to do."

[00:07:00] "They're doing things that are destructive to the strategy... because they have to hit their KPI or they're out."

Listen to the full episode with Chuck Bamford through this link:
https://revenue-builders.simplecast.com/episodes/executing-a-winning-strategy-with-chuck-bamford/

Check out John McMahon’s book here:
Amazon Link: https://a.co/d/1K7DDC4

Check out Force Management’s Ascender platform here:
https://my.ascender.co/Ascender/

James Underhill is the Senior Director of Sales Operations and Strategy at MongoDB. He started his career as a pre-sales engineer at Videology and later spent two years at Twitter as a Revenue Operations Analyst. Since joining MongoDB, James has been promoted four times and now leads the Sales Innovation team.

In this episode, John McMahon and John Kaplan are joined by James Underhill to discuss the potential impact of AI on sales. They explore how AI can enhance sales productivity by automating time-consuming tasks and providing valuable insights. James breaks down the different stages of the sales process and explains how AI can be leveraged to improve territory management, discovery, preparation, coaching and forecasting. He emphasizes the importance of combining AI with human skills and highlights the need for curiosity, critical thinking, and a customer-centric approach in sales. The conversation also touches on the potential changes in the buying experience as AI becomes more prevalent in sales.


HERE ARE SOME KEY SECTIONS TO CHECK OUT

[00:04:42] Importance of combining IQ and EQ in leveraging AI tools
[00:08:11] The role of human elements and trust in the sales process
[00:11:15] Traditional territory management problem and the use of AI in contextualizing data
[00:12:42] AI can assist with knowledge procurement and enablement for new reps
[00:14:58] AI can aid in equitable territory management and hold managers accountable
[00:21:00] AI can automate the process of gathering foundational information, but reps still need curiosity and hunger to progress in the sales cycle
[00:22:21] AI will expose bottom reps and decrease ramp time
[00:25:01] AI enables instant coaching and on-demand knowledge
[00:34:08] AI can help transfer knowledge and boost productivity in sales
[00:46:09] Warm introductions becoming more meaningful in sales

ADDITIONAL RESOURCES

Learn more about aligning customer-facing teams to improve execution: https://forc.mx/48o1jyP

Connect and learn more about James Underhill.
https://www.linkedin.com/in/james-underhill-ba22313b/
https://www.linkedin.com/company/mongodbinc/

HIGHLIGHT QUOTES

[00:54:42] "Are they planning a merger with another company and they're going to go bonkers? Are they launching a new product? Like it's hard to predict that. And so that's where the human element is really important."

[00:55:08] "And now I'm taking that information and then I can have, I can use an assistant of sorts or a tool to help me understand how that translates into what you're going to pay over time. But it's not going to tell me, Hey, James, they're going to bill this over this time period. That's unlikely."

In this curated episode of the Revenue Builders Podcast, we dive into the complexities of scaling Product Led Growth (PLG) models with guest Oliver Jay, former Product Led Sales leader at Dropbox and CRO at Asana. In this insightful conversation, they explore the nuances of PLG, its effectiveness in different market landscapes, and the strategies required to navigate its scalability challenges. From understanding the dominance dynamics in PLG markets to dissecting the intricacies of selling to end-users versus enterprise buyers, this episode offers invaluable insights for companies looking to leverage PLG for accelerated sales performance.

KEY TAKEAWAYS

[00:00:00] PLG dominance dynamics: In PLG markets, the winner typically garners 80% market share due to the model's viral nature.

[00:01:50] Challenges for non-leading PLG companies: Companies beyond the top two struggle to gain traction and should consider pivoting towards enterprise-focused strategies.

[00:02:49] PLG's compatibility with enterprise sales: While PLG excels with end-users, scaling to enterprise level introduces complexities due to the lack of traditional enterprise sales infrastructure.

[00:05:04] Hybrid approach for PLG scalability: Successful PLG companies often combine PLG with sales-led growth, using PLG to seed accounts and leveraging sales teams for enterprise deals.

[00:08:30] Layered nature of PLG scalability: Scaling PLG resembles building a multi-layered cake, with each layer representing different levels of customer engagement and sales complexity.

HIGHLIGHT QUOTES

[00:01:26] "If you're like number three, four, five, six... the wind is not going to be behind your sails. Might as well tweak your product to be a bit more enterprise from day one."

[00:04:45] "A lot of companies... seed the account with end users, then back it up with sales-led growth... to get an enterprise purchase order."

[00:08:30] "Building a PLG company over time... you have a strawberry shortbread bottom, you have a chocolate middle, you have a tiramisu top. It just keeps going."

Listen to the full episode with Oliver Jay through this link:
https://revenue-builders.simplecast.com/episodes/product-led-growth-in-b2b-sales-with-oliver-jay

Check out John McMahon’s book here:
Amazon Link: https://a.co/d/1K7DDC4

Check out Force Management’s Ascender platform here:
https://my.ascender.co/Ascender/