Help please!

I need to draw on the experience of the WR here.


So bit of a situation, I have a very large prospect I have been working on for 12 months now, its felt like we have gotten close several times but just not quite got it there.


Last week I learned my main competitor was travelling to the same city as this client and was having a steak dinner with someone. They have other clients in this city but I cant help but feel its fairly likely they were wining and dining this client. My competitor also told me directly that "they have almost got it over the line" (I don't think they are aware we are involved, at least it doesn't seem so).


In my last meeting with said prospect, I gleaned that we were likely in second place and I think this is largely down to a mistake I have made on the last two visits I have had with the prospect being fairly low key impromptu meetings which have been more of an "update" rather than going through key business. The last time I presented our full solution was a year ago, the rest of the meetings have been touching on various bits of our offering but not a full sit down to go through our proposal (they are quite hard to set up with so often meetings are last minute).


Because in my last meeting I realized I had made this mistake, i asked that we could have another meeting to go through our full proposal so we have a fair shot against our competition which they said they would give us.


We are now on the week they said to reconnect and I am now a bit spooked by the fact my competition was in town wining and dining someone who I assume to be this customer and just wondering how to turn this around.


I know for a fact we meet more of the needs than my competition and we are better placed to support them however I feel my personal relationship with this client is a few steps behind and thats hurting my chances at the moment.


I think I know what I have to do but would be glad to get any experiences here in the wr.


I am not too proud to hold my hand up and admit my last few meetings I should have set up better but this customer is very very difficult to tie down so I have been trying to take the low key walk and talk meeting approach but I think that is what has bitten me.

📈 Closing
📚 Resource
🏹 War Room
17
SoccerandSales
Big Shot
6
Account Executive
Why haven’t they moved forward before?

I feel like you are in a spot to ask questions you may not want to know the answer to. Be a little more pointed than referencing what you THINK might be competition getting in the way and just ask. Worst thing they say is yes, we have a better relationship with your competitor and now you can address that as needed.
sketchysales
Politicker
3
Sales Manager
Hey Chelsea fan. Im a big Leeds Utd fan haha, bit of beef there if you know the history of the clubs im sure you do.

I think you are on the money here. Its better to know and then work forward from that.
SoccerandSales
Big Shot
2
Account Executive
De facto leeds fan because of the USMNT pipeline.

The “ask questions you don’t want the answer to” has really changed the way I sell because I get the hard answers out of the way and can strategize accordingly vs in the past when I would assume and then go nowhere.
sketchysales
Politicker
2
Sales Manager
Yeh its amazing to see the following Leeds is picking up stateside.

Its a great point. This is why i love WR.
Sunbunny31
Politicker
6
Sr Sales Executive 🐰
It's good that you're doing your own deal deconstruction in your head and looking for ways to improve.

Sitting down with them, reviewing the proposal and being very forthright about how you meet their requirements better than anybody else at each point will be key.

Soccerandsales mentioned asking questions - yes! Make this a dialogue. If you know where they're leaning toward another solution, that's information you can use to redirect the conversation.

Re the possibility that your competitor is cozying up to the prospect - they might be, but you don't know for sure. What it did do was ignite that fire and get you thinking about how to win this deal. You're still in this.
jefe
Arsonist
4
🍁
Haven't heard it put as 'deal deconstruction' before but it absolutely fits.

@sketchysalesI think bunny nailed it here.

Good luck!
sketchysales
Politicker
2
Sales Manager
Love this thanks sunbunny! In the past I've strayed away from doing a us vs them comparison with my competition but I'm feeling it may be worthwhile on this one since it's just us 2 in the running and we have some clear advantages.
Kosta_Konfucius
Politicker
4
Sales Rep
What is the timeline for making a decision, is there still time to win the deal do you think?
sketchysales
Politicker
3
Sales Manager
There is definitely still time, my last meeting a month or so ago, they still were 2 of 3 months away from switching however I do believe a decision could be made ahead of that. I do still believe we can win the deal.

One other key piece of info is we do have another avenue to get into this customer should I lose out on this on a different product so all would not be lost but it would be a huge blow to lose out on the piece we are working on now as it is the bigger chunk for sure.
detectivegibbles
Politicker
4
Sales Director
Three takeaways from your post:

1) You said you've gotten close a few times...what kept the deal from being moved forward? Approved Budget? Timeline?

2) Did the prospect say you were a distant second? Or is that your inner critic telling you that because your competitor told you they were close to getting the deal?

3) You say you meet more of the needs of the customer. Do they know that? Have you received a copy of the competitors offer to go line item by line item with the prospect highlighting where your offer wins?
sketchysales
Politicker
2
Sales Manager
very valid points here. The whole situation is quite nuanced/

1. Timeline is the biggest factor. We sell physical product, they havent moved through their existing inventory as quickly as anticipated.

2. No they havent said anything to this extent however my competition has got some product into their space where we havent. This sets some alarm bells although also is potentially not as alarming as it may seem.

3. This is the issue, I havent had a chance to do a full offer review with them since my first meeting almost a year ago so I think this is my key next step.
detectivegibbles
Politicker
1
Sales Director
Gotcha.

Without knowing more micro level of your biz, 12 month gap feels like a black hole if they still don't have clarity on what your offer is.

Prospects forget 90% of what you tell them from a meeting just 1 week ago.
sketchysales
Politicker
2
Sales Manager
Agreed, theres been several meetings between and our value prop is communicated in one way or another every meeting so I feel they know what we can do, we just havent gone through the proposal in depth and in a dedicated meeting and I feel to this point that is my issue. So that is my next step, that and asking some frank questions.
detectivegibbles
Politicker
2
Sales Director
Good luck!
ThatNewAE
Big Shot
3
Account Executive - Mid enterprise
I am just thinking out loud - Why do you assume that it was this customer that was dining with the competitor?
I don't believe we have valid grounds to assume this.

Nonetheless, catch up with the customer for a quick sync - talk about how their evaluation is coming along - and what they think you should be doing. Keep it really candid.

And truth be told, if you know you haven't handled the meetings well, you can always communicate the 'right value props' to them now. Sync up!
sketchysales
Politicker
2
Sales Manager
Well my competitor was wining and dining someone (they took a 5 hour flight for this). However you are right, its not the only client in the city but it is by far the biggest which led me to think it must be this project but you are right its daft to assume.
antiASKHOLE
Tycoon
3
Bravado's Resident Asshole
I curious to see what people help you come up with here. I am taking some notes myself.
TennisandSales
Politicker
2
Head Of Sales
first off, good for you for acknowledging there COULD have been something different done, and not just blaming other factors.

second, this is still winnable so dont let the steak dinner get to you too much.

But this next meeting is super crucial. I would hit on these points in the next meeting:

1. fully explain what the problem you are solving for and why this is so important. Sometimes during the sales process the actual goal gets foggy. so make that clear.

2. Make your solution/business case straight to the point, simple and impactful. sounds like you are confident you have the better solution so lay out exactly why. not just a feature dump but an OUTCOMES dump.

3. do not shy away from pointing out the shortcomings of competitors. In situations like these, tell them that XYZ competitor is not going to be able to deliver on these points because of A.B.C reason.

there is alot more but without knowing the details this is what i would focus on.

PS: be confident. make sure they believe what your saying.

good luck friend.
FranchiseSalesQB
Politicker
1
Franchise Sales QB
I think your answer is in this post.
slumdollamillionaire
Good Citizen
1
Franchise Owner
Time to define the relationship. Get your messaging together, present your proposal, make sure they understand the proposl, get an agreement on need from them, and then ask if there is any reason why they would not move forward with you. It sounds like time to actually have the hard conversation and knock the deal off the fence. If you dont lock business in along the way you are left wondering along the way only to make it more difficult a conversation further down the line.
sketchysales
Politicker
1
Sales Manager
This is exactly it. Meeting to present new proposal set up for next week so fingers crossed!
AnchorPoint
Politicker
0
Business Coach
If your solution is a fit, what is holding up moving forward?? Always add value, never just touch base.
11

Please help me with this prospect

Advice
21
11

Need email help please

Question
12