Great advice as always from Mark Treacy in how to drive up win rates and ASP (average selling price)
Tactical things AEs can do to increase their Win Rates & Average Deal Size. ➡ Slow Down: Particularly in the early stages of the sales process. Go deep in discovery to identify and implicate pain. The bigger the business problem you attach to, the larger the deal. ➡ Deal Qualification: Again, particularly crucial at early stages. Don't invest your time or cross functional resources in opportunities you a) can't win or b) are tied to surface level customer pain. Qualify out early and often. ➡ Sales Process Rigor: Don't skip stages. Meeting the exit criteria between stages, particularly if they're customer verifiable, will help you develop solid opportunities and not end up with a bunch of stalled S2-4 deals in the pipeline. ➡ Multi-Threading: Identify a Champion, build a Champion, and earn the right to engage the broader buying committee, including the EB. ➡ Exec Alignment: Facilitate Exec to Exec relationships and do it early. Many AEs leave it too late or don't do it at all. ➡ Cross Functional Partnership: e.g., Services, Solutions Consulting, Value Advisory, Customer Success. Bring them in early. They will help you identify and implicate business pain, communicate business impact and increase the buyer's confidence in your ability to deliver value post sale. It will also help you multi-thread. ➡ Creative Commercials: Particularly key in the midst of increased budget scrutiny and tool consolidation. Creative commercials e.g., multi product bundling, multi year step ups, etc can help increase your size of a pie that isn't necessarily expanding. #sales #salesenablement #salesleadership
Thanks for sharing this insight, Mark. How do you recommend handling price objections to boost ASP?