𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗮 𝗺𝗲𝗴𝗮𝗱𝗲𝗮𝗹 𝗶𝘀 𝗻𝗼𝘁 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗮𝘀 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝘀𝗲𝗹𝗹𝗶𝗻𝗴. Why?🧐
We believe megadeals should be considered independently from complex selling because of four aspects that will significantly affect your sales and marketing approach. Other books and researches on sales and marketing do not address these five aspects:
1️. Megadeals often require six months to a year of work by a dedicated cross-functional team. In short, there is too much money on the line to fail. Pursuing a megadeal is therefore not a process of qualifying leads so much as disqualifying them.
2️. Would you be able to sell a stroller to a person without children? Nah. If your offer does not align with your customer’s key initiatives, it is almost impossible to find the money for your megadeal.
3️. If you cannot understand or influence the ecosystem around the deal, you will not close the deal. The buyer is not a handful of people, but many departments, countries, levels of hierarchy and even external organizations. In other words, there are often more than 100 people involved. To navigate, influence and move an entire ecosystem, you need a strong toolbox of methods and skills for marketing and sales.
4️. Megadeals per definition involve a lot of risks. Being able to control and mitigate those risks, rather than just maximizing the upside, is a key capability - one that is barely discussed in sales and marketing literature.
5️. In the megadeals space, marketing is often derided for not contributing significant business value. Yet this is far from the truth. Will come back to this subject in another post.
// Melissa Mühlrad