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Multi-Year Deals

What is the best strategy to position MYDs as a no-brainer for both new biz and retention?

πŸ‘‘ Sales Strategy
πŸ“ˆ Closing
☁️ Software Tech
1
softwarebro
Politicker
+4
Director of Sales
Software evolves so quickly.. in a highly competitive space price is about the only way to secure multi year deals. Being the best solution or if your software requires an expensive implementation makes it’s easier.Β 
CadenceCombat
Tycoon
+13
Account Executive
Agreed @softwarebro That’s really the only compelling lever you can pull on to entice a multi-year commitment.
NorthernSalesGuru
Politicker
+5
Account Executive
110% agree here
LordBusiness
Politicker
+7
Chief Revenue Officer
Speaking from a leadership perspective, I do everything possible to never commit to anything longer than a year, and unless I’m looking at a 25%+ discount I’m not even considering it.Β 
Archivist
Good Citizen
Sales Manager
This! I don’t want that multi-year commit until after year 1. You never know who the turds in the punch bowl are until they are live.
LordBusiness
Politicker
+7
Chief Revenue Officer
It's not even just the "turd" factor. Its really the following for me.Β  1) if you are an early adopter chances are the pricing on that product segment is going to drop a ton by year two as more competitors hit the market (saw this with Outreach and SalesLoft and Chorus/Gong).Β  Also, the needs of a team can evolve so fast these days, and being cemented intoΒ  tech agreement for two years is crippling.Β  There are two agreements I have longer than one year 1) SFDC 2) Linkedin Sales Nav.Β 
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overheard_sales
Politicker
+6
CEO - Overheard_Sales
Discounts, and the ability to "evolve with the product"
CaneWolf
Politicker
+12
Call me what you want, just sign the damn contract
What do you sell? That matters a lot. I've been in the software side and the services side and the approach is different.
CREAM
Good Citizen
Manager
A little bit of both service and software - we use a matrix with various levers to pull.Β 
Do
Dollar
Executive
+6
Enterprise AE
Discounts, price lock-in and ability to get an evolving product. I usually also throw in things like "being part of the beta customer list" etc. depending upon the customer. Some folks really enjoy being part of your product's growth.Β 
7
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+2
8
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19
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+12