Decision Maker Access: Finding Deals You Are Too Low In The Organization To Close
Decision Maker Access: Finding High-Risk Deals
The quarter ends, and you tally up the deals. As always, there are those that were supposed to close and in forecast. Then, as the quarter ended, they slipped and the overall revenue number for the quarter was impacted. This scenario is far from rare, and every time it happens it puts the overall success of the team at risk.
How then, can high performance revenue teams determine which deals have the necessary access to decision-making execs on the buying committee? More importantly, how can this high-level access be seen (or found to be missing) early enough in the deal review cycle that there is time to do something about it. Finding out, only three days before quarter-end, that executives have not been involved in the deal, would let you remove that deal from forecast, but it does not let you save the deal.
Executives Are For Closers
Executive access matters as deals get nearer and nearer to close. However, they may not be needed in the early stages of a deal. In fact, in most organizations, the initial research into potential new solutions is done by front-line employees, so it may be somewhat rare to have execs involved in deals in the early stages. The buying committee broadens out as the deal progresses, and each go-to-market approach will have a different point in the sales process at which access to executive decision-makers is needed.
The ideal insight for sales management then, is to flag deals that are far enough along that they should have access to decision-makers, but as early as possible to maximize the opportunity to either coach the sales rep running the deal, or get involved from a sales leadership perspective to help save the deal.
Deals Move Quickly, Deal Insight Needs to Keep Pace
As buyers get excited about the potential of your solution to improve their business, deals begin to move at a pace of their own. As more people at the buyer get involved, the action heats up, and your sales team will be working hard to keep pace with opportunity.
As a sales leader, this is when you need to understand if the right people are involved from the buyers’ organization. You need to understand the seniority and role of the key buyers involved and understand if you have access to the right level of power to get the deal done. Even if the right contacts are known, you need to know that your team has developed relationships with those senior leaders.
To have real-time insights into when a deal is at risk because it doesn’t not have high enough executive access, you need real-time data on who is talking to whom, and who has strong relationships with whom. Relying on manual logging of interactions and manual creation of the new contacts you are talking to is far too slow and incomplete to give you this insight.
Making this more challenging is the fact that many executives try not to be front-and-center in conversations with vendor sales people. They may be quietly added to cc’s on email chains, or added to meetings, but they are often not announced loudly.
To be up-to-date with this information, you need a relationship intelligence platform that can automatically capture the following data points for every person on your deal team:
- Every contact your team is interacting with at the deal
- The strength of each relationship
- The decision-making level of each individual involved in the deal
- The functional role of each individual
- The history of communication between your team and theirs
This needs to be captured and logged to your CRM system, such as Salesforce, without any clicks, actions, or effort by your team.
Late Stage Deals, Missing Execs
With this data present, accurate, and up to date, you can finally see at a glance where there is risk. Deals that are at a late stage in your sales pipeline should show strong relationships with sufficiently senior executives on the buying committee. Early stage deals may have weak relationships with those execs, or no relationships at all.
Any deals that are missing the right number, seniority, or strength of relationships can be quickly flagged and alerted to sales leadership. By doing this in real-time, long before the quarter ends, you can get in front of each deal, and find a way to access the buying group before the deal must be removed from forecast.
Executive buying power matters. By bringing in the right metrics on relationships by level, you can easily discover at-risk deals and ensure your pipeline is maximized and fully accurate.