Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

9 Elements of Highly Effective Sales Conversations

4,118 views

Published on

Revenue Summit 2018 San Francisco

9 Elements of Highly Effective Sales Conversations

Speakers:
Amit Bendov - CEO & Co-Founder, Gong.io

Check out SalesHacker.com for the most up to date sales strategies, tactics, and hacks.

Published in: Sales
  • Be the first to comment

9 Elements of Highly Effective Sales Conversations

  1. 1. Amit Bendov– CEO & Co-Founder – Gong.io 9 Elements of Highly Effective Sales Conversations
  2. 2. CEO & Co-Founder – Gong.io @banditmove Amit Bendov KEYNOTE SESSIONKS Revenue Summit 2018
  3. 3. Gong.io | 3 More sales conversations Better sales conversations Two Ways to Increase Revenue
  4. 4. Let’s talk about better sales conversations
  5. 5. Gong.io | 5 How do the best salespeople do their conversations? Low Performers Middle-of-the-Pack High Performers
  6. 6. , ,
  7. 7. Gong.io | Record Transcribe Analyze 7
  8. 8. Here’s how to be a star “The Gap”
  9. 9. 9
  10. 10. 9 Control the agenda
  11. 11. Gong.io | 11 Star reps “schedule” time to discuss “Next Steps” Star Reps Average Reps 10.00%7.50%5.00%2.50% 8.14% 5.23% Percentage of a sales call’s duration each group discusses “Next Steps”
  12. 12. Gong.io | 12 Star reps establish value before talking pricing Call timeline 38-46 min window Star Reps Average Reps When “Pricing” is discussed on average by each group
  13. 13. 8
  14. 14. 8 Control the rhythm
  15. 15. Gong.io | 15 “Part of what it means to have a powerful personality is that you can draw others into your own rhythms and dictate the terms of the interaction.” Malcom Gladwell The Tipping Point 10
  16. 16. Gong.io | 16 Star reps “pull” prospects into their rhythm 5 10 15 20 25 30 35 Call duration Words/ minute 200 175 150 125 100 Star Reps Prospects Talking speed across an average call (stars reps)
  17. 17. Gong.io | 17 Average reps adjust to their prospect’s rhythm 5 10 15 20 25 30 35 Talking Speed 200 175 150 125 100 Avg. Reps Prospects Call duration Talking speed across an average call (average reps)
  18. 18. Gong.io | 18 5 10 15 20 25 30 35 Sentiment 0.6 0.4 0.2 0 Star Reps Prospects Star reps “pull” prospects up to their sentiment level Call duration Sentiment levels across an average call (star reps)
  19. 19. 7
  20. 20. 7 Talk business
  21. 21. Gong.io | 21 Average Reps Star Reps +52% Star reps spend 52% more time “talking business”
  22. 22. Gong.io | 22 Examples of “business talk” ROI Prospect’s business challenges Project agenda and timeline Decision-making ecosystem “Value” topics rather than “Feature” topics
  23. 23. 6
  24. 24. 6 Coffee shop conversation
  25. 25. Gong.io | 25 Here’s what the conversation should not look like Salesperson Prospect
  26. 26. Gong.io | 26 Here’s what the conversation should look like Salesperson Prospect
  27. 27. Gong.io | 27 The more back-and-forth “speaker switches,” the better 1.25 2.50 3.75 5.00 100% 75% 50% 25% 0% Success Rate Speaker switches per minute
  28. 28. Gong.io | 28 Star reps ask questions evenly through their calls STAR REPS Question Frequency AVERAGE REPS Call Timeline Question frequency throughout a call
  29. 29. 5
  30. 30. 5 Hollywood-style sales demos
  31. 31. Gong.io | 31 Average Performers Star Performers +28% more Number of questions received during sales demos Star reps provoke buyers to ask questions 8.5 10.4 Low Performers 6.3 2.5 5.0 7.5 10.00
  32. 32. “The Gap”Give them just enough to stir questions, here’s how…
  33. 33. Present only what’s relevant, then shut up.
  34. 34. 4
  35. 35. 4 Risk-reversal language
  36. 36. Gong.io | 36 Star reps lavishly use “risk-reversal language” to close deals When sales pros remove friction by adding sentences like “you can cancel at any time”, they increase win probability by 32%. “You can cancel at any time”
  37. 37. 3
  38. 38. 3 Therapist-grade listening skills
  39. 39. Gong.io | 39 Star reps have a much lower “talk-to-listen ratio” Talk STAR REPS AVERAGE REPS BOTTOM REPS Listen Discovery call talk-to-listen ratios: Top, middle, and low performers 46% 54% 68% 32% 72% 28%
  40. 40. Gong.io | 40 0 50 100 150 200 250 Customer Story Length (Seconds) 0.6 0.5 0.4 0.3 0.2 0.1 The longer your customer talks uninterrupted, the better Success Rates
  41. 41. 2
  42. 42. 2 Differentiate early
  43. 43. Gong.io | 43 0 2 4 6 8 10 12 14 16 0.7 0.6 0.5 0.4 0.3 0.2 0.1 Success Rate No. of Competitor Mentions Early competitive deals are good, late competitive deals are bad Late Stage Early Stage
  44. 44. Gong.io | 44 Early-stage competitive deals have the highest close rates None Early Late 40.00% 30.00% 20.00% 10.00% 0.00% 21.50% 32.01% 20.36% Stage of Sales Cycle Competition Was Discussed Close Rates
  45. 45. 1
  46. 46. 1 Sell In Teams
  47. 47. Gong.io | 47 Multiple Participants One Participants Involving others in your deal skyrockets your close rates Close rates: one seller compared to multiple sellers" 36.00% Close Rates 10% 20% 30% 14.30% +258% difference!
  48. 48. Get the ebook version: gong.io/secrets
  49. 49. Revenue Summit 2018 THANK YOU SALES HACKER REVENUE SUMMIT 2018. CEO & Co-Founder – Gong.io @banditmove Amit Bendov

×