How To Lose Better In Sales

Neil Patel quote

Like most salespeople, I made a whole lot of mistakes and got slapped around during my rookie years. I was taught a wise truth soon after – “70% of all the deals you’re working on should be winnable.”

By learning to mark deals lost earlier on in the sales process and on my own accord helped me spend more time on deals that were winnable and less on those that weren’t. Thus, I felt that the deals I got to spend time on were genuinely at least 70% winnable, keeping my sales pipeline clean and my sales velocity high.

Here are the 3 key things to learn about losing in sales:

1. Turn reactive losing, signalled by your prospect, into proactive losing based on your judgement of whether they fit in the 70% winnable category or not. This means shifting most of the losing from the end of the sales cycle towards the beginning.

2. Codify, standardize and review your lost reasons, and make your qualification criteria rock-solid. Every week, review all open deals as well as the lost deals from the previous week. Understand your losing and winning categories (on price, on product features, in a specific industry, or other) on-the-go and fine tune your tactics on a weekly basis by learning from this generated knowledge.

3. Know your ideal customer profile, and figure out how to get as many prospects who fit the profile into your pipeline. The ideal customer is one with whom you have the best possible strategic fit across the board – you have great product/need fit, buyer/seller behavior and cycle time fit, and budget/price fit.

Here’s a more thorough overview of the important things in losing. (more…)

Why White Labeling Is a Taboo

I was recently invited to speak on a panel at the Small Business Web Summit. The panel I took part of was titled “Why White Labeling Isn’t Taboo.” While the topic is not directly sales-related, it is something that I have had experience with and is relevant to those of you in an emerging or aspiring SaaS business.

What was giving me heartburn leading up to the event is that I think white-labeling for SaaS providers should be taboo… at least for most people. Some of the most painful experiences of my career have involved white-labeling. (more…)

A Big Day for Us: Pipedrive Raises $9 Million in Series A Funding

Today is a huge milestone for Pipedrive. I’m thrilled to announce that we have raised an additional $9 million in Series A funding to help us accelerate our growth.

This investment will help us hire more talented people to join our current family of employees. With their help, we will build more technology, market more broadly and deliver greater service to better serve you – our more than 10,000 customers – and many more small businesses and their salespeople around the world.

This round in funding was led by Bessemer Venture Partners with participation from Paua Ventures. It also includes participation from existing investors including Rembrandt Venture Partners and AngelPad, which as you may recall is where Pipedrive was incubated in 2012. To date, we’ve raised $13.4 million. (more…)

Introducing an Easier Pipedrive and MailChimp Integration

The MailChimp-Pipedrive integration lets you send personalized and well-targeted emails to specific lists of customers from Pipedrive. Simply define your segment criteria in Pipedrive, and click on the MailChimp button at the bottom of the list to export the contacts into MailChimp.

It’s helpful, for example, when you want to send emails to prospects who are based in California and with whom you are in the middle of a high value deal. With only a couple of clicks, you can set the criteria and export the list.   (more…)

What the French and Polish Can Teach Salespeople About Lunch

Daily productivity levels around the worldFinding out how salespeople work and what keeps them going is big part of our job as the developers of software that should help them sell better. Sometimes, this research brings interesting insights into the different habits of salespeople around the world. This exact situation happened just recently – we analyzed over 1 million anonymized sales activities that were recorded in Pipedrive, and one of the interesting insights we saw was that…

 

The way salespeople around the world eat lunch and how it affects their productivity is very different.

So here goes a side-by-side comparison of 8 countries’ lunch habits and productivity, diving head-first into data.

(more…)