Key Reasons Deals Don't Close
In this episode, John Kaplan and John McMahon dive deep into the intricacies of why B2B sales deals often don't close successfully. Special guest Anne Gary joins the discussion for the third time to offer insights into the common pitfalls in the sales process, from poor discovery and scoping to failed champion development and suboptimal engagement with economic buyers. They provide actionable advice on how to slow down and properly align your sales strategy with the customer's pain points, metrics, and decision criteria to close deals effectively. They emphasize the importance of thorough preparation, understanding customer pain points, building solid champions, and creating a compelling proof of value. The episode is a must-listen for any sales professional looking to refine their approach and increase their close rates. Tune in and learn more on this episode of The Revenue Builders Podcast. HERE ARE SOME KEY SECTIONS TO CHECK OUT [00:02:04] Why Deals Don't Close: Discovery Stage [00:03:41] The Importance of Proper Preparation [00:11:42] Metrics and Measuring Success [00:19:02] Building Trust and Overcoming Hesitation [00:32:57] Finding and Leveraging Champions [00:39:54] Understanding Deal Patterns: M, W, and L [00:40:36] The Importance of Multi-Threading in Sales [00:41:53] Developing Trust with Potential Champions [00:46:33] Economic Buyers and Their Influence [00:54:46] Navigating Proof of Value (POV) [01:02:39] Closing the Deal: Overcoming Common Challenges HIGHLIGHT QUOTES [00:03:08] "The biggest mistake we make is hoping the customer will connect the dots from the features and functions to the quantifiable impact that you have on solving the business problem." [00:09:21] "If you’re measured on how many meetings you get, you can get a lot of meetings, but they may not be with the right person." [00:13:34] "Metrics are hard because a lot of reps don’t know how a customer should be measuring success based on the problems and solutions discussed." [00:19:15] "Sometimes customers hold back on metrics because they don’t trust you yet." [00:46:11] "I'm willing to be led, provided you can take me to a place I can't get to on my own." [00:47:49] "If you're selling anything that's worth anything, they're never going to have a budget for it." [00:49:22] "Economic buyers need their own champions inside the account."