How to Increase the Value of your Deal

Growing the value of your deal is one of most challenging aspects of the qualification process. When a client rings up asking for 10 licenses or a certain data set, every SaaS BDR wants to challenge their prospect to consider a site license or multiple data sets. But how do you do this without delaying the sales cycle too much or worse jeopardizing the entire deal?

Below are some ideas on how you could maximize your initial deal size and ensure a happy customer;

Qualification Questions

As a BDR, you may know your qualification process inside out. However, when looking to increase your deal size, I suggest adopting a "challenger sale" mindset. When a prospects asks for 10 licenses and you know there are 200 knowledge workers in their organization, simply ask why they are only considering 10 and not 200? Dig deep into your qualification process and you will be sure to grow your average deal size in no time!

Account Based Marketing (ABM)

Account Based Marketing is marketing that’s based on a given account; existing or prospective. The goal of ABM is to address the needs of organization by connecting with all of the key stakeholders within it. ABM compliments the enterprise segment very well where there are multiple 'buyer groups' in the organization. By doing so, BDRs gain more control over their pipeline and begin creating larger deal sizes.

Creative Quoting

A great way of increasing the value of your deal is to discuss multiple scenarios with your prospect. Set expectations from the beginning of alternative options and ROI and discounts that can be gained by expanding their footprint initially as opposed to buying small and adding on at a later stage. Get creative with your quotes by presenting a few different options - most likely, your prospect will increase their license count.

Software Assurance

If your organization offers a perpetual license model, always include Software Assurance in your quote and inform your prospect of the benefits of this. You may even include multi year Software Assurance which could significantly increase the value of your deal. As a BDR, it is crucial that you explain the benefits of adding this to their software. If not, they may not understand the line item on their quote and mistake the cost of the license. We definitely wouldn't want our prospects to go to a more cost effective competitor!

Introduce a 'Pilot Program'

Pilot Programmes are a genius way of proving the ROI on a larger opportunity. Most organizations will have each department managing their own budget. It can be difficult to build the business case for every knowledge worker to have a license or demonstrate the value of other departments using the software if you are only speaking to one single function. Bringing your prospect through a pilot project is a great way of overcoming this challenge! Identify, with your prospect, a group of power users across the organization and do a managed trail over the course of a few weeks. Assigning a dedicated Tech Sales person to manage the trial and answer any questions, will ensure you win that larger business upfront.

If you would like to learn more tips on how to grow the value of your deals, please feel free to comment below or mail me.