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- 🌊 Wave #4: Multi-threading, Procurement, Sales Management Framework
🌊 Wave #4: Multi-threading, Procurement, Sales Management Framework
Hello, I’m Andrew and welcome to my weekly newsletter. Each week I humbly tackle trends about sales, marketing, startups, and anything else that help you and your team need to drive more revenue.
If you’re not following me on LinkedIn, here’s a few things you missed:
Howdy. It's been a MINUTE!
Now back to our regular scheduled value content for you all.
Let's start off with what's "trending" in the world of SaaS sales.
1. Expansions are a big focus for many sales orgs
2. Multi-threading deals
3. Getting to executives earlier in the deal
4. How to get CFOs attention as they are reviewing every penny
5. How Outside sellers are now becoming Inside sellers
What’s trending in your neck of the woods?
🌊 High Tide
Multi-threading is so hot right now
We all know it. No deal in mid-market or Enterprise gets done with 1 person. Sure, you can have a "champion". But unless this champion is a unicorn, it ain't going to happen with them socializing it.
Multi-threading is a simple concept. You get multiple people at your organization in touch with people at your prospecting organization. Director to Director. VP to VP. C-suite to C-suite. I'm sure you are awesome, but VPs want to talk to other VPs. C-level execs want to talk to other C-level execs.
Why multi-thread?
Your bigger deals ain't going to get done without it. I can give you some fluffy stats on how X% of successful deals involve 8-1000000 people.
But, let's not go there.
Instead, do this exercise:
Think about your own organization and someone trying to sell a product to your team. Does 1-person get that done alone? NO WAY JOSE!!!
Enough of the fluff - I wrote a piece called "The Definitive guide to multi-threading" coming out on Saleshacker "soon". I'll let folks in this newsletter know when that's all good and done.
🌊 Mid - Tide
Annie's Management Framework
Annie is an Enterprise and Corporate sales manager at LeadIQ. She's also my fiancé 😜😘
Her management style is next level and is what she attributes to running a top-performing team. Below is her formula 👇
Mondays: Call recordings all day
Tuesdays: Deal strategy reviews
Wednesdays: Office Hours
Thursdays: Manager meetings and projects
Fridays: Pipeline reviews
Saturday/Sunday: Adventure time with me obviously 😂
Isn't this golden? Makes it easy for reps to understand exactly what/when they need to have prepared. And, she actually listens to all of those Gong recordings we all store!
“Complexity is the enemy of execution” - Tony Robbins
Make it easy for reps, marketers, success, etc. to understand what needs to get done.
🌊 Low tide
I hung out with a friend in Procurement for the past 2 weeks - what I learned won’t surprise you
6 things I learned about working with Procurement:
1. Yes, they get bonuses on discounts they receive 😂
2. Sometimes they care more about payment terms vs. price. Prepare levers besides price.
3. Keep procurement in the loop. Constantly. Treat them as if you were on the same team.
4. Get them in early and often.
5. The thing they hate the most is not knowing that late stage evaluations are happening without them. When an evaluation gets serious, have your champion update them.
6. The average 1,000+ employee company has 200+ SaaS applications. They are busy people and working with vendors all day, every day.
Treat procurement as if they are on the same team as you. Work with them, not against them.
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Abrazos,
Andrew 🖖