Recently, I attended an in-person session conducted by Mohit Garg, SaaSBoomi, in the Bay area. The session was to help companies go from 1 to 10 million and not 0 to 1 million. Many of our partners and customers are in 1 to 10 million. Hence, I thought of sharing the learnings.
Tips From Session, Chief Revenue Officer, MindTickle
Author Details
Vinay Mehendi
Vinay Mehendi, PhD focuses on customer engagement, alternative data, technographics, and CRM data management. he was listed as Top 20 B2B Marketer by Ruth Stevens in 2020. He is a Clemson graduate.
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Table of Contents
Learnings from the session
MindTickle supports its sales representatives with a Sales Support team (probably called the Sales IO team in Pune). Every sales rep is paired with a sales support team.
This team has people who support building customer demos and a research team that researches the prospective company and buyers. The performance of the sales support team is measured by the contribution made and not driven by commission. A sales support team could support more than one sales rep. The camaraderie built between sales and support teams is crucial.
The sales support team develops an account research report (labeled as Kundali in the native language). This report checks data related to the company as well as the person. For example, is the buyer traditional sales or from a different background? Is the buyer a cyclist or has another passion that tells more about their personality? Account intelligence is used to decide the type of pitch made to the customer.
Company research
1. What is their business?
2. Who are their customers? Size of customers?
3. What are their key revenue streams?
4. What industries do they focus on?
5. What is the size of their sales teams (for MindTickle)?
6. What is their funding and business description?
MindTickle has identified its filters and signals. Here are the indicators
• ‘We are hiring” on LinkedIn.
• Recent funding.
• Distributed teams.
• Recently hired sales VP.
• Recently hired sales enablement person.
MindTickle has 17 touch points in its sequence. Though the speaker points out that sequence can be unique to your business.
During value discovery calls
1. Mohit compares discovery calls to the approach taken by a chiropractor. One has to look for pain points and values that can be added.
2. Identify all stakeholders.
3. Three questions to be asked during the calls are:
a. Why Change?
b. Why Now?
c. Why You?
Vinay’s comments: This session should be able to provide you with the gaps that can be filled.
Objection handling should be seen as an opportunity to tell more about the benefits. I observed that MindTickle’s approach is about conducting thorough research and preparing for the calls.
Mohit mentioned that MindTickle follows the MEDDIC approach to qualify the account and buyer (link).
One of my principal questions was if the price should be fixed before the pilot starts. Negotiation with procurement takes significant time in enterprise deals. Discounts should come easy to the customer. If it does, it is tough to defend your pricing. Easy gives should be offered instead of discounts. These easy gives should be listed beforehand.
How to ensure that trials/pilots are successful
1. Drive accountability by fixing calendar events at the beginning of engagements.
2. Trials should clearly indicate the changes in metrics/KPIs.
Mohit also talked about Deal Desking.
Suggestions
Never name discovery calls as demo sessions. Use words such as Value Discovery session.
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