Friday, December 08, 2023
Do you want to learn the secret to getting in the door with big clients and speeding up the traditionally long enterprise sales cycle?
In this video, I'm going to share a game changing strategy that helped us unlock multi-million dollar deals, even when the odds were against us.
Stay with me as I walk you through our journey and break down how you can adapt this winning formula for your business."
First off to land big customers it’s not just about a great sales pitch it’s about creating an irresistible offer.
And by far the one thing that changed my businesses trajectory forever was offering clients an irresistible offer where we piloted our services to them for free.
I know it sounds crazy but here’s why this works and how you can use it.
Story:
When I founded Order Solutions, we were ambitious and we wanted to sell to big restaurant chains like Denny’s, Famous Dave’s, Outback Steakhouse, Papa Murphy's,. We were selling a service that would cost each of them $500K-$10M per year.
So it wasn’t a cheap service and it did provide them a huge ROI where it could add tens of millions of dollars to their revenue. But even still restaurants in the early days were skeptical.
At first it was very frustrating and it felt like we were never going to land a customer.
Then out of frustration I said to myself let’s just give them a small test to prove the concept.
Let’s eliminate the risk for them and create a heads we win big and tails we don’t loose much.
Little did I know this was going to completely transform our business.
I realized after pithing free 60 day pilots to a couple of chains and seeing how fast they wanted to implement it that we were onto something.
Not only did it help us beat out more established competitors it helped us improve our service and build credibility.
Our first time we did a pilot we offered Denny’s a free 60-day pilot to a significant restaurant chain, handling calls for 10 stores which was very small for a chain that had over 1,000 locations.
Then we worked insanely hard to execute and overdeliver for them.
We increased their revenue on phone orders by 40% in the pilot and they were left in shock and awe.
They immediately turned into a paid account and wanted to scale up as fast as possible.
Think about that. Because we gave them a result in advance they were begging to give us more money.
Isn’t that crazy? So after the 60 day pilot we expanded to over 500 stores in just 12 weeks.
This one account changed everything. From free pilot to $2M annually for more than four years. So, was this approach worth it? The numbers speak for themselves.
So how can you adapt this strategy to your business? Let’s break it down.
Step 1: Crafting the Perfect POC Offer
You want to Define the scope and make sure it works for your team and still provide a lot of value for the client.
You want to also make sure they clearly understand the value
They need to also understand the potential ROI and what benefits they will see throughout the pilot.
Understand the potential return on investment. What will you gain when a pilot matures into a full contract?
Step 2: Set Realistic Success Criteria
What results would deem the pilot a success?
Ensure that the client aligns with this vision, ensuring that the end goal is mutual and transparent.
Step 3: Commitment to a Structured Plan
It's not just about what you'll deliver; it's about timely execution.
Make sure the client commits to a project plan and adheres to the timeline. Time is of the essence, after all.
Step 4: Define the POC Lifespan Clearly
POCs should be strategic, not prolonged. They're a snapshot of potential, not an ongoing service. For example we picked 60 days because in our case we knew we’d start crushing it month two with our call center reps.
Step 5: Establish Purchase Intent Post-POC
Before starting the POC, it's imperative to ensure mutual commitment. Here is a hack that you can use that is insanely valuable. Structure a pilot agreement that rolls into a SOW and MSA so you can scale it into a paid account without needing a new contract.
That way you agree on service levels and KPi’s you need to hit.
The decision-makers must be on board, agreeing that if the POC is successful, it will seamlessly transition to a full-blown contract.
To summarize your competitors won’t do this, it will make you stand out and it will help you improve your offer.
This is crucial to crafting an irresistible offer for your business. If you want to learn more about how to implement and create an irresistible offer for your B2B business I recently wrote a playbook that has all of my strategies on this. It’s free and my gift to you. To get it click the link below or the link in my bio to get free instant access.
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