You don't wait for outbound deals to mature You mature them by creating urgency using COI Here's how ⤵ Storytime I was selling Zendesk against a competitor who is notoriously famous for heavy discounting in India To the extent, that our list pricing is 2x their contract pricing From a BDR pov, that's a suicide mission in India: A country that's highly price-sensitive and negotiates on everything.....I mean, we negotiate on a cab, auto, groceries, bus tickets, bloody everything...even try our hands at negotiating flight and train ticket So in a country like this, when I'm priced 2x as my competitor, it's almost impossible to get a meeting - let alone close that deal Prospects come to the meeting to tell us: "I'm not happy with X because they're overpriced" I'm already judging him for that statement but okay. Let's play this game. I asked him: "What's your pricing with X?" "We have the Pro Plan at $40/m/u" How many users is that? "8" In my head, I've already disqualified the deal. Our list pricing is $99/m/u and there is no way we'll get a 60% discount. Even for 100 seats. No way is he going through the pain of switching to a costlier tool unless there's a burning fire Something in me didn't want to give up that day. Usually, I would've told him we were not a good fit and moved on I asked him - "Are you happy with X?" He goes "Yes - we're very happy" "So only price is an issue?" "Yes" So I asked him - "Oftentimes when prospects tell me products are overpriced, it's because they don't get the value for money. Is my assumption right?" Maybe In my head, I'm thinking - good. We're progressing (Welcome to Outbound) "Specifically what do you feel is not working for you with X that's leading you to feel it's not worth $40/m/u?" He said, "Omnichannel experience is not good". That's all I needed. I jumped on him. "What do you mean by that?" "I need to open 3 tabs to monitor tickets from 3 channels. On top of that, I need to pull reports from 3 tools and sometimes their tools don't talk to each other" BOOOOOM! Now I go into impact. Then their business problem. Then quantify it. In 15 mins, we concluded they're losing 20 hours/week across 3 dedicated resources for reporting and data analysis. That's 60 manhours lost every week they don't switch. Is that urgent enough for a serious eval? (despite cost) Yes Is that urgent enough for a switch? Not yet (now onto the AE's skill) Discovery like this needs to consistently happen throughout the outbound process for successful outbound revenue That's where I see most AEs slacking and focusing on inbound deals. That's why Outbound is dead Because people would rather focus on inbound deals that get them rev today, rather than do the hard work for the rev tomorrow. People follow the money. They always have. It's the Law of the Land. Unfortunately, the coins of inbound on the floor distract people from the treasures of outbound under the ground
💜 Srivaradha Vanamamalai’s Post
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From skepticism to love: How B2B marketing won over a reluctant marketer’s heart in 5 years. Discover the journey. https://lnkd.in/g7ZBvDVs
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