Selling Smarter: The Power of Strategic Disclosure

Salespeople often have a burning desire to close deals quickly, leading them to rush into sealing the agreement within just a couple of meetings. However, this haste can prove to be a costly mistake. They sometimes behave as if these initial meetings are their only chance to connect with the prospect, and close the deal. Consequently, they might end up sharing an overload of information, believing that bombarding the prospect with details at this early stage will seal the deal.

But here's the thing: in the realm of SaaS, particularly for deals exceeding $10-20k per year, the buying process rarely unfolds so smoothly. Prospective clients need time to validate various aspects, and this involves some deliberation on their part.

As a skilled salesperson, you should use this time strategically.

Laying all your cards on the table in the first few meetings can backfire. It might overwhelm the prospect, leading to inefficiency in processing information, misunderstandings, and, ultimately, a breakdown in communication.

Instead, consider a more strategic approach. Recognize that there's a certain rhythm to the SaaS sales process, and strategically reveal your cards bit by bit at precisely the right moments.

Your ultimate goal is to maintain the prospect's curiosity and interest throughout the process.

Your ultimate goal is to maintain the prospect's curiosity and interest throughout the process. You want them consistently eager to learn more and validate their decision to buy at the most opportune and effective moments.

Let's illustrate this with two scenarios:

Scenario 1: You are about to release a New Feature/Product

Imagine you're in the sales process, and after a thorough qualification and discovery phase, you realize that features B, D, and E of your product are precisely what will solve the prospect's most pressing challenges. You also know that feature F, which enters beta in a month, would be a valuable addition for the prospect. Furthermore, you've strategically designed feature F to set your solution apart from two of your competitors the prospect is considering.

In this scenario, consider focusing on features B, D, and E during the initial meetings to build a strong foundation in your relationship, knowing they align with the prospect's needs. As the prospect enters the vendor selection phase, introduce feature F to reignite their interest in your solution. Fresh information like this can give you a significant advantage over competitors precisely at the moment when it matters most.

While it may seem like a gamble to wait longer to introduce that you’ll release a great new feature, this strategic move often tips the scales in your favor. The novelty of this information and its timing will carry substantial weight.

Scenario 2: Leveraging a Customer's Logo

Back when I was at Algolia, I engaged with several prospects from Australia. I entered a sales process with an Australien e-commerce website. Our primary competitor on this project was…an Australian company. Given the fact that Algolia was a French/American company, the odds seemed stacked against us, even considering that Algolia is an exceptional product. By chance, I closed a deal a few month before the biggest Australian electronic retailer, JB Hifi. It’s basically the Australian Best Buy/Fnac/Currys.

I made a conscious choice not to disclose this information until both our product and our competitor's had been thoroughly evaluated. I understood that I might need an ace up my sleeve after the Proof-of-Concept phase, especially if Algolia wasn't perceived as substantially better than our Australian competitor. Additionally, the comfort of working with a local company, aligned with their time zone and presence, seemed appealing

So, I held onto the JB Hi-Fi logo as a credibility booster. I used it to convey that success with us wasn't just possible; it was practically guaranteed, as demonstrated by one of the country's largest companies using Algolia effectively in production.

When I finally dropped “the JB HiFi bombshell” during a meeting after weeks of the sales process, I knew it was the turning point that secured the deal. It resulted in not only a new great customer logo but also a six-figure deal.

Remember, strategically keeping some cards up your sleeve at various stages of the sales process can be a game-changer. Knowing when to play them can dramatically improve your closing rates, giving you a competitive edge.