How to Sell Bigger Deals [Whale Hunting!]

Data-Driven Selling By Sales Insights Lab

Be sure to register for my free training on, "The 5-Step Formula to Closing More Deals without the Price Pushback, 'Think-It-Overs' or Ghosting"

https://salesinsightslab.com/training/

Welcome back to another educational episode of "Data Driven Insights." I'm your host, Marc Wayshak, and today we're joined by the head coach at the Sales Insights Lab, Coach Tiffany Torres.

In this episode, Marc and Tiffany discuss the significance and benefits of targeting larger deals in sales, challenging common assumptions, and realigning mindsets toward high-stakes opportunities. Marc Wayshak begins by explaining three ways to increase sales: more prospects, higher closing rates, and bigger deals, emphasizing that the latter is often overlooked despite its potential impact on revenue.

Coach Tiffany advises sales professionals to focus on the value of the problems they solve for prospects rather than just the cost of their product or service. By doing so, salespeople can effectively communicate the worth of their offering in relation to the prospect's challenge, creating an opportunity to discuss and justify higher budgets.

The conversation shifts to strategies for increasing deal sizes, such as dynamic pricing, offering tiered service packages, and targeting bigger companies with larger budgets. They highlight the importance of understanding the prospect's language and tailoring the value proposition accordingly.

Marc and Tiffany advise on pipeline management, emphasizing the need to cultivate multiple large opportunities so any single deal doesn't become disproportionately crucial, a concept likened to balancing on a beam at different heights. With a full pipeline, salespeople can operate from a position of power, less concerned about individual losses and more focused on the many opportunities ahead.

Finally, they wrap up with a discussion on adopting a "some will, some won't, so what" attitude, recognizing when to move on from a lost prospect, and how small increases in average sales size can lead to significant overall growth.

Listeners are also invited to access a free video training to learn a five-step formula to close more deals, available at closing training.

Key Topics:
1. Introduction to Wholesale Hunting
2. Benefits of Targeting Big Deals
3. Strategies to Increase Sales
4. Approaches to Increase Average Sales Size
5. Pricing Tactics
6. Strategy in Selling Big Deals
7. The Importance of Mindset
8. Pricing Structures and Optionality
9. Benefits of Multiple Options in Offering
10. Working with Larger Companies
11. Importance of a Full Pipeline
12. Analogy of the Beam and Height

00:00 Focusing on increasing sales and landing bigger deals.
04:40 Analyzing the decision-making process for high-cost items.
07:29 Bigger sales challenge mindsets, worth and confidence.
11:14 Expanding options leads to successful sales strategy.
14:40 Multiple dates reduce pressure, increase opportunities, comfort.
16:50 Focus on closing good deals, not lost ones.