Megadeals – How the World’s Largest Deals are Done with Christopher Engman
Chris and his associates outline the ways that large deals are essential to your success, and the ways you need to tailor your strategy for them.
Chris Engman is Author, Co-Founder, and Managing Partner at Megadeals Advisory. Many of the most successful B2B companies in the world have a high concentration of revenue coming from a few top accounts. Often less than 50 accounts represent 80% of the total revenue even though the entire customer base can consist of many thousand accounts. Megadeals advisory is assisting scaleups and Fortune 500 companies doing more and bigger.
When selling into companies organized as matrixes, when they are buying cross-functionally, and when you as a company are selling as a team, the logic behind selling changes from traditional selling into orchestration.
If what you’re selling doesn’t align with at least one of your customers’ key initiatives, you want to disqualify them.
Understand and map the ecosystem within the organization you’re going after and outside to drive consensus.
Identify your solution capabilities vs capabilities of competing solutions.
Struggles for Most B2B Companies
-Lack a systemic approach to industrializing markteing and sales for larger deals
-Strive towards full-funnel content, ABM, and social selling
-Too dependent on physical touchpoint, not digital
-Vendors talk too much about themselves, benefits, features of their product
Create consensus at scale:
-Find and develop Trojan horses
-Mitigate customer risks
-Split budgets 50/50 between sales and marketing.
Fundamental parts of deal-closing messaging
-Fundamental messaging: unaware to want to buy
-Deal closing messaging: wanting to buy to signing deal
-Orientational messaging: attract a broader audience to take notice of your solution