Here are a few top level ingredients for,
$50k deals: Single threading, Can be transactional, Discounts help but PPUPY not critical, Assuming the Sale.
$500k deals: Multi-threading is a must, Relationship vs Transactional, Competitive Analysis, PPUPY is critical, Discount Anchoring replaces Assuming the Sale, Check with Partner Orgs selling into the same account
Ingredient breakdown:
First things first, single threading is knowing one person at the org and building that relationship. Transversely, multi-threading is building relationships with multiple stakeholders in the org.
Secondly, If you don’t know what PPUPY is then that explains why you haven’t closed a $500k deal!
PPUPY = Price Per User Per Year. Your 1000+ employee companies care about PPUPY so you should too.
Assuming the sale is known as a soft close, whereas discount anchoring gets people to close themselves.
Find other companies adjacent to your org’s offerings that are selling into the same account and sync with them regularly! This way you learn more information about what they are going thru as they may share other intel with other orgs.
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Want to hear more on this conversation, check out this podcast interview on MoreBusiness.com
