Promising deals stalling late in the process is one of the most frustrating outcomes for a seller.
You can have a champion, multiple great meetings, earn access to the economic buyer, and lose after the final presentation.
If you find yourself losing at this stage, one (or more) of these is likely happening:
1) Your solution isn’t tied to an executive priority
2) It’s unclear how your solution would work in their environment
3) The team isn’t convinced their status quo is painful enough to risk a change
4) The team isn’t convinced your solution works as demonstrated
This week, we’ll look at how to solve #1. If this is helpful, following newsletters will cover 2-4!
Your solution doesn’t tie to an executive priority
You can progress a deal without identifying and solving for an executive priority. All you need is something that motivates your lower-level champion, and you’ll move right along.
Unfortunately, if the executive presentation simply reiterates why your champion loves your solution, it will likely fall flat for the executive.
And there goes your deal.
Here’s how to solve:
Call out the obvious to your champion: “It’s harder to buy now than it’s been in a long time. We’ll need to tie to one of your company’s top priorities to get approval.”
“Which priority do you think we best align to?
If they give you their personal priority again, dig deeper. “Yep, that’s familiar from our previous conversations. How might it change from your CFO/CEO/CMOs perspective?”
Then, ensure your executive presentation isn’t just a re-do of what excited your champion. Focus on the executive outcome you drive, and spend less time on how you do it.
Once the executive agrees the outcome matters, let your champion discuss how your solution would work. Nothing you say will be as impactful as your champion saying, “I’ve spent a lot of time looking at this solution, and it’s a great fit for us.”
Now you have outcome alignment with the executive that needs to approve your solution, and they believe it will work.
Helpful? If you’d like me to cover how to overcome the other three pitfalls in following newsletters send me a quick note so I know it’s relevant.