{"id":4894,"date":"2020-06-10T11:25:13","date_gmt":"2020-06-10T16:25:13","guid":{"rendered":"http:\/\/kmbrian.com\/blog\/?p=4894"},"modified":"2020-12-04T12:34:47","modified_gmt":"2020-12-04T18:34:47","slug":"new-deal-opportunities","status":"publish","type":"post","link":"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/","title":{"rendered":"How to Respond Quickly to New Deal Opportunities"},"content":{"rendered":"<p>Speeding up the sales cycle is a goal for most sales reps.<\/p>\n<p>After all, a faster sales cycle means more time to make sales.<\/p>\n<p>I sat down with Mike Paladino, Head of Sales at PandaDoc, to find out how he goes about speeding up his sales processes without deterring prospects and leads from purchasing.<\/p>\n<p>I always learn a couple of things and level up my <a href=\"http:\/\/kmbrian.com\/blog\/sales-cycle-stages\/\">sales process<\/a> talking to Mike, and today he talks about responding quickly to deal opportunities, and why this is so important.<\/p>\n<p>According to Mike, \u201cThe old adage of \u2018time kills all deals\u2019 really does apply even today. It\u2019s all about response time.\u201d<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe class='youtube-player' width='700' height='394' src='http:\/\/www.youtube.com\/embed\/c4xrTB3OZCo?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent' allowfullscreen='true' style='border:0;' sandbox='allow-scripts allow-same-origin allow-popups allow-presentation'><\/iframe><\/span><\/p>\n<h2>Why Is Speed and Quick Response Time Important? [1:36]<\/h2>\n<p>Mike says that it\u2019s all about aligning with the buyer\u2019s momentum or their buying time frame. As professionals, it\u2019s important to do everything we possibly can to understand that and consult.<\/p>\n<p>He says: \u201cA part of the sales rep\u2019s responsibility is really monitoring that momentum and trying to build that momentum, but also aligning and mirroring that momentum that the buyer has.\u201d<\/p>\n<p>While sales reps want their buyers to experience very good customer service, Mike notes that if the process can be sped up, it\u2019s better for the business and often better for the buyer as well.<\/p>\n<h2>What Does an Effective, Quick Response Look Like? [2:55]<\/h2>\n<p>\u201cIt depends on the channel in which that engagement takes place,\u201d Mike explains.<\/p>\n<p>\u201cSo if we\u2019re talking about a chatbot, it\u2019s very lightweight \u2013 we\u2019re just trying to understand what that person on the business side can do to help navigate the lead from the awareness stage to a more specific solution-based.\u201d<\/p>\n<p>Mike posited that if you offer a \u201cquick, personable, non-threatening response in a customer centric way,\u201d you\u2019ll find that buyers will just tell you straight up what they want.<\/p>\n<p>\u201cIn those scenarios, at PandaDoc we have mechanisms for a quick response from a live chat representative, to where you could be on the phone with a salesperson within 15 or 20 minutes. And it\u2019s resulted in a lot of one-call closes, quick deal cycles, and you\u2019re really first to market with that buyer.\u201d<\/p>\n<h2>How Do You Improve All the Different Layers of the Sales Process? [6:38]<\/h2>\n<p>According to Mike, a big part of the battle is actioning that first meeting quickly.<\/p>\n<p>\u201cIf someone\u2019s going to book a meeting with me two weeks out, or even a week out, I really want to understand why. Sending this email at least opens up the door now for me to have that conversation with you, removed from the actual scheduled call.\u201d<\/p>\n<p>Looking for a general rule of thumb?<\/p>\n<p>Mike recommends that if a meeting is more than five days out, the sales rep should at least try to move that up and ask the polite persistent question of &#8220;can we do this soon? I\u2019m available.&#8221;<\/p>\n<h2>What About for Follow up Meetings? How Do You Speed That Up? [10:31]<\/h2>\n<p>How you approach the follow up depends on the type of vertical that you might be selling into or how complex their buying process might be, Mike highlights.<\/p>\n<p>\u201cIf you\u2019re getting caught up in lengthy procurement processes, there\u2019s often a big gap in the middle funnel, so the tactics we deploy there are mostly question based to try to understand the buying phase. How have you purchased software in the past? Do you have authority? How do we validate this in the fastest and most efficient way?\u201d<\/p>\n<p>Mike notes that there are a lot of ways to manufacture compelling events or timelines.<\/p>\n<p>\u201cIt\u2019s about understanding what their compelling event might be and then reverse engineering that timeline to try to get them what they need.\u201d<\/p>\n<h2>How Do You Move Quickly While Also Giving the Prospect Enough Time? [13:14]<\/h2>\n<p>Mike explains: \u201cIf I\u2019m talking to someone from a legacy type of company that\u2019s a little less software friendly, I\u2019m going to slow myself down in that situation and make sure that I understand how to make sure this person feels confident making this recommendation.\u201d<\/p>\n<p>Why?<\/p>\n<p>Simply because someone who isn\u2019t as used to working with tech won\u2019t feel comfortable making the decision. In this case, the sales rep needs to understand why, and how they can enable that success and partner up with that individual to get them to see the light.<\/p>\n<h2>How Do Budgets Affect Sales Speed? [15:33]<\/h2>\n<p>Mike gives an example.<\/p>\n<p>\u201cIf you\u2019re moving into the upmarket or mid-market space, and you start dealing with someone at director level, perhaps they have the ability to approve something under $10k.<\/p>\n<p>\u201cIf not, it\u2019s gonna go through this lengthy legal process. So it\u2019s really about what\u2019s the value of the path of least resistance on this $10k deal, that maybe I could get this quicker.\u201d<\/p>\n<h2>How Do You Identify or Create Urgency? [16:14]<\/h2>\n<p>Mike breaks down his <a href=\"http:\/\/kmbrian.com\/blog\/sales-cycle-stages\/\" target=\"_blank\" rel=\"noopener noreferrer\">sales cycle<\/a> into three phases:<\/p>\n<ul>\n<li>Why buy anything?<\/li>\n<li>Why buy me?<\/li>\n<li>Why buy now?<\/li>\n<\/ul>\n<p>We\u2019re talking about the &#8220;Why buy now?&#8221; phase.<\/p>\n<p>There are a few things that can create that urgency, such as external factors like COVID or internal pressures like a demanding boss.<\/p>\n<p>\u201cIf you identify a pain, drill down on that pain, understand it, and ask the same question in three different ways to make that buyer really feel the impact of what they\u2019re trying to solve,\u201d Mike advises. &#8220;Once you have that roundabout timeline, just try again to reverse engineer it, based on tasks and a mutual action plan to really achieve our goal within that time frame.\u201d<\/p>\n<h2>What Type of Tools and Processes Should People Put in Place to Move Things Quicker? [20:20]<\/h2>\n<p>This is all about identifying and minimizing friction points in <a href=\"http:\/\/kmbrian.com\/blog\/sales-cycle-stages\/\">the sales cycle<\/a>, Mike notes.<\/p>\n<p>He explains that PandaDoc uses a variety of tools, including Drift \u2013 a comprehensive chatbot \u2013 and Chili Piper for scheduling.<\/p>\n<p>He adds: \u201cThere\u2019s always some blockers between propose and close, and that\u2019s where we use our own tool. We drink our own champagne and use PandaDoc, for bottom of the funnel efficiency gains.\u201d<\/p>\n<p>If you&#8217;re looking for a great tool that allows you to use software and tracking when sending proposals, go check out <a href=\"http:\/\/www.pandadoc.com\/demo\/?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=Google_Search_Brand_UK_Alpha&amp;utm_content=Core&amp;utm_device=c&amp;utm_placement=&amp;utm_term=pandadoc&amp;utm_creative=389057973074&amp;gclid=CjwKCAjwztL2BRATEiwAvnALcr8x6deK-0Jceoj9OgPJ2n4YPe2dekAGm0-7errtl9Y5j3RJfset-BoCmgwQAvD_BwE\">PandaDoc<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Speeding up the sales cycle is a goal for most sales reps. After all, a faster sales cycle means more time to make sales. I sat down with Mike Paladino, Head of Sales at PandaDoc, to find out how he goes about speeding up his sales processes without deterring prospects and leads from purchasing. I &#8230;<\/p>\n","protected":false},"author":3,"featured_media":4896,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[55],"tags":[],"jetpack_featured_media_url":"http:\/\/i0.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2020\/06\/Mike-Paladino1.jpeg?fit=3840%2C2160&ssl=1","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.5 - http:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>How to Respond Quickly to New Deal Opportunities<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"How to Respond Quickly to New Deal Opportunities\" \/>\r\n<meta property=\"og:description\" content=\"Speeding up the sales cycle is a goal for most sales reps. After all, a faster sales cycle means more time to make sales. I sat down with Mike Paladino, Head of Sales at PandaDoc, to find out how he goes about speeding up his sales processes without deterring prospects and leads from purchasing. I ...\" \/>\r\n<meta property=\"og:url\" content=\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Mailshake Sales &amp; Marketing Blog\" \/>\r\n<meta property=\"article:published_time\" content=\"2020-06-10T16:25:13+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2020-12-04T18:34:47+00:00\" \/>\r\n<meta property=\"og:image\" content=\"http:\/\/i0.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2020\/06\/Mike-Paladino1.jpeg?fit=3840%2C2160&#038;ssl=1\" \/>\r\n\t<meta property=\"og:image:width\" content=\"3840\" \/>\r\n\t<meta property=\"og:image:height\" content=\"2160\" \/>\r\n<meta name=\"twitter:card\" content=\"summary\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"4 minutes\">\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"http:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"http:\/\/kmbrian.com\/blog\/#organization\",\"name\":\"Mailshake\",\"url\":\"http:\/\/kmbrian.com\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/kmbrian.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/i2.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2019\/07\/Mailshake-Logo-small.png?fit=325%2C59&ssl=1\",\"width\":325,\"height\":59,\"caption\":\"Mailshake\"},\"image\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/kmbrian.com\/blog\/#website\",\"url\":\"http:\/\/kmbrian.com\/blog\/\",\"name\":\"Mailshake Sales &amp; Marketing Blog\",\"description\":\"\",\"publisher\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"http:\/\/kmbrian.com\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/i0.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2020\/06\/Mike-Paladino1.jpeg?fit=3840%2C2160&ssl=1\",\"width\":3840,\"height\":2160},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#webpage\",\"url\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/\",\"name\":\"How to Respond Quickly to New Deal Opportunities\",\"isPartOf\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#primaryimage\"},\"datePublished\":\"2020-06-10T16:25:13+00:00\",\"dateModified\":\"2020-12-04T18:34:47+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/\"]}]},{\"@type\":\"Article\",\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#webpage\"},\"author\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/#\/schema\/person\/fadba0629a6997a15e7b77e335c110d8\"},\"headline\":\"How to Respond Quickly to New Deal Opportunities\",\"datePublished\":\"2020-06-10T16:25:13+00:00\",\"dateModified\":\"2020-12-04T18:34:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#webpage\"},\"publisher\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/#organization\"},\"image\":{\"@id\":\"http:\/\/kmbrian.com\/blog\/new-deal-opportunities\/#primaryimage\"},\"articleSection\":\"Interviews\",\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"http:\/\/kmbrian.com\/blog\/#\/schema\/person\/fadba0629a6997a15e7b77e335c110d8\",\"name\":\"Sujan Patel\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/kmbrian.com\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/secure.gravatar.com\/avatar\/071c63b926025330e9468435427b9f37?s=96&d=mm&r=g\",\"caption\":\"Sujan Patel\"},\"description\":\"Sujan Patel is the founder of Mailshake, a sales engagement software used by 38,000 sales and marketing professionals. He has over 15 years of marketing experience and has led the digital marketing strategy for companies like Salesforce, Mint, Intuit and many other Fortune 500 caliber companies.\",\"sameAs\":[\"http:\/\/kmbrian.com\"]}]}<\/script>\r\n<!-- \/ Yoast SEO Premium plugin. -->","jetpack_sharing_enabled":true,"jetpack_shortlink":"http:\/\/wp.me\/p85zFH-1gW","jetpack-related-posts":[{"id":3789,"url":"http:\/\/kmbrian.com\/blog\/sales-velocity\/","url_meta":{"origin":4894,"position":0},"title":"Sales Velocity: What It Is and Why It's Important","date":"12\/26\/2019","format":false,"excerpt":"It\u2019s no secret that every salesperson wants to sell more, faster. Indeed, 69% of companies say their top marketing priority is to convert contacts and leads into customers. But - as every salesperson knows - conversions take time. In fact, on average, it takes 84 days to close a lead.\u2026","rel":"","context":"In &quot;sales&quot;","img":{"alt_text":"","src":"http:\/\/i2.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2019\/12\/Sales-Velocity-What-It-Is-and-Why-Its-Important-header-2.jpg?fit=1138%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2710,"url":"http:\/\/kmbrian.com\/blog\/best-sales-books\/","url_meta":{"origin":4894,"position":1},"title":"30 Best Books on Sales (Recommended by Top Sales Professionals)","date":"08\/14\/2019","format":false,"excerpt":"If you're looking for the best books on sales, you know how hard it is to pick truly valuable books from all the rest. So the question is... What are sales professionals reading to stay on top of their game? What are the tactics they\u2019re talking about and adopting to\u2026","rel":"","context":"In &quot;sales&quot;","img":{"alt_text":"best book on sales","src":"http:\/\/i2.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2019\/08\/Best-Sales-Books-to-Level-Up-Your-Skills-header-1.jpg?fit=1138%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588,"url":"http:\/\/kmbrian.com\/blog\/turn-no-into-yes-cold-email\/","url_meta":{"origin":4894,"position":2},"title":"How to Turn a \"No\" Into a \"Yes\" In Your Cold Email","date":"10\/03\/2017","format":false,"excerpt":"You need a thick skin to send cold emails. It\u2019s no different than an actor trying out for a new part. J.K. Rowling was turned down by 12 publishers. Harrison Ford was told he'd \u201cnever succeed\u201d in the movie business. No record label would sign Jay-Z. \u00a0 Dr. Seuss was\u2026","rel":"","context":"In &quot;cold email&quot;","img":{"alt_text":"6 Reasons \u201cNo\u201d Doesn\u2019t Always Mean No (And How To Turn It Into A Yes)","src":"http:\/\/i2.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2017\/10\/Mailshake-Banner.png?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5322,"url":"http:\/\/kmbrian.com\/blog\/abm-programs\/","url_meta":{"origin":4894,"position":3},"title":"The Secrets of ABM Programs: Here's What You Need To Know About Account-Based Marketing","date":"09\/10\/2020","format":false,"excerpt":"Your sales and marketing team are on a roll with researching, prospecting, and connecting with new leads. Your company has done a great job of identifying and serving your key customer segments, and your business has started expanding as a result. What can you do to keep your revenue stream\u2026","rel":"","context":"In &quot;sales&quot;","img":{"alt_text":"","src":"http:\/\/i1.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2020\/07\/ABM-Program.jpeg?fit=1138%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":934,"url":"http:\/\/kmbrian.com\/blog\/sales-meeting-ideas\/","url_meta":{"origin":4894,"position":4},"title":"Sales Meeting Ideas to Keep Your Team Motivated and Focused","date":"09\/13\/2018","format":false,"excerpt":"Companies across the globe share a common problem: meetings. They have too many of them, they last too long, or they include people that don\u2019t really need to be there - or, in many cases, a combination of all three. Whatever the reason, the fact remains that too many companies\u2026","rel":"","context":"In &quot;sales&quot;","img":{"alt_text":"Sales Meeting Ideas to Keep Your Team Motivated and Focused","src":"http:\/\/i1.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2018\/01\/Sales-Meeting-Ideas-to-Keep-Your-Team-Motivated-and-Focused.jpg?fit=1138%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":146,"url":"http:\/\/kmbrian.com\/blog\/sol-orwell\/","url_meta":{"origin":4894,"position":5},"title":"How Sol Orwell Used Cold Outreach to Connect with People & Secure Guest Posts","date":"04\/11\/2017","format":false,"excerpt":"This is the first in a series of many\u00a0posts you\u2019ll see appearing on this blog over the next few months. Each post is based on a chat I had recently with an\u00a0expert. I\u2019ll be talking about their approach to outreach and why it works, and I\u2019ll be showing you some\u2026","rel":"","context":"In &quot;cold email&quot;","img":{"alt_text":"","src":"http:\/\/i2.wp.com\/kmbrian.com\/blog\/wp-content\/uploads\/2017\/04\/sol-orwell.jpg?fit=550%2C309&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/posts\/4894"}],"collection":[{"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/comments?post=4894"}],"version-history":[{"count":3,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/posts\/4894\/revisions"}],"predecessor-version":[{"id":6288,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/posts\/4894\/revisions\/6288"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/media\/4896"}],"wp:attachment":[{"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/media?parent=4894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/categories?post=4894"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/kmbrian.com\/blog\/wp-json\/wp\/v2\/tags?post=4894"}],"curies":[{"name":"wp","href":"http:\/\/api.w.org\/{rel}","templated":true}]}}