September in Review: 3 Insider Insights

??Question worth asking

When it comes to referrals, do you ONLY think of them as a way to get sales meetings?

If so, you're missing a big opportunity to increase your success rate in business development, especially if you're selling high-ticket B2B ($10k+ TCV).

Here's what I mean.

Yes, a referral can help you get a meeting with the C-Suite.

BUT, there's a big difference between getting a meeting because someone pulled strings or called in favors versus getting a meeting because the prospect believes you can solve their burning problem.

We all know how the "by-hook-or-by-crook" type of referral meetings will end--a pleasant chat over coffee, and that's about it. And, I'm sure that is not the outcome you're looking for.

So, how do you get the other type of meeting--the one where the prospect BELIEVES you're the answer they are looking for? ??

By using strategic, well-timed referrals.

Let me break it down with an example.

Suppose you're a fractional CFO trying to sell to ABC Company, and you meet someone who's willing to introduce you to the CEO.

Great! And now that you have a referral partner, do you ask them to get you a sales meeting with the CEO IMMEDIATELY?

Most people would say yes--because, why not?

But is this the RIGHT time to ask for a sales meeting?

Without any additional information, you might think now is as good a time as any.

But, what if you could get more information to validate this assumption.

And, it's not as hard as you may think, IF you leverage your network.

For instance, have you thought about asking your network to introduce you to people who are NOT in the C-Suite to conduct sales research?

Good candidates include: any current ABC Company employee who's purchased B2B services or works in their purchasing department, any vendor who's sold to ABC Company, and even ex-ABC employees who recently left (credit to Brynne Tillman ).

Then, meet with those people to learn HOW ABC Company buys, WHEN they buy, WHY they buy, and WHO their current vendor is.

Wouldn't that be good information to have BEFORE you meet with the C-Suite?

Imagine if you leveraged your network to do sales research for ALL your key prospects. If you're not doing that, you're missing a big opportunity.

Returning to our example, suppose after your sales research, you learn the following about ABC Company:

• They use a buying committee (not a single decision-maker)
• They already have a fractional CFO (which means you're going to have to unseat the current vendor)
• Their FY2025 budget started in July (which means you just missed the budget window)

Given this info, are you still in a hurry to ask for a sales meeting with the CEO?

No, right? Because, the timing is off.

So what do you do in the meantime?

The obvious answer is to raise awareness and build creditability.

But how do you do that when the CEO doesn't know you and hasn't opt-ed into any of your drip campaigns?

Sure, you can buy paid ads and sponsorships to get in front of the CEO, but if you're looking for a more economical method, you should leverage your referral partners or network.

Going back to our example, here are 2 ideas:

1. Suppose you wrote a LinkedIn post about Financial Analysis & Strategy that got a lot of engagement. Have your referral partner tag the CEO in the comments to draw their attention and make them aware of your thought leadership.
2. If the CEO is not on social media, do a collab with your referral partner, ex: webinar, podcast, conference break-out session, etc. Then, have your referral partner invite the CEO to attend the event(s)--where you ALSO happen to be on stage.

This is how you raise awareness and build credibility while you wait for the right time.

And then when ABC Company's budget season comes around, THAT'S when you ask your referral partner to ask for a sales meeting on your behalf--AFTER, you've done your research and built creditability with the CEO.

Remember the goal? Land meetings where the prospect BELIEVES you're the answer they are looking for.

This is how you get there--strategic, well-timed referrals.

If you've never used your referral network this way before, give it a try. It could be a game-changer for you!

?? Want more strategies on how to leverage your referral network? Check out this post from B2BSalesMagic ?

??Event worth attending

Are you still selling the SAME way as you did in 2020, 2010, or 2000? Using the SAME methods and techniques?

If so, you’re missing opportunities to close more deals, because the B2B buyer’s journey in 2024 is very different than the journeys of the past.

Here are 4 eye-opening stats for B2B sales ($10k+ TCV) in 2024:

• 83% of the time, buyers initiate the first contact with vendors
• By the time buyers initiate contact, they are 70% through their buying process
• By the time buyers initiate contact, 78% of buyers have already identified their top 4 preferred vendors
• 84% of sales are won by one of the top 4 preferred vendors

So obviously the key question is HOW do you become a top 4 preferred vendor BEFORE the buyer contacts you?

Come get your questions answered in this 30mins mini-webinar with Lynn Tickner (StoryBrand Certified Guide) and myself!

?? Thurs, Oct 10 @ 2-2:30pm, Central on Zoom (3-3:30pm Eastern, 12-12:30pm Pacific). Click here to register ?

??Thought leader worth following

So true, and yet so hard to do, especially if you're selling complex, technical solutions, ex: cybersecurity, IT solutions, MSPs, etc.

It's so tempting to get deep into the weeds with technical jargon and acronyms, but often, it just confuses your prospects.

What's worse, because your prospects are confused, you end up sounding like everybody else in your niche--even though, you're trying hard to differentiate yourself.

That's why my friend, Katie Lantukh , regularly shares tips and best practices on how to simplify your marketing message for your audience.

Here are my 5 favorite posts of hers:

• 3 website copy changes you can make today to increase conversions ?
• "It feels impossible to stand out." ?
• In a competitive industry? You need to talk about the problems in your industry. ?
• 23 reasons your website might be hurting your business ?
• Want a simple website refresh? Start with these prompts ?

Want more of her thought leadership? Connect and follow her on LinkedIn--she's very active.

In addition to LinkedIn, Katie is also my co-host for the B2B Elevator Pitch Workshop, where we help owners, consultants, and service providers sharpen their elevator pitch.

Check out some of the amazing Before's and After's:

What a difference, right?

?? So, do you get nervous or tongue-tied when introducing yourself at networking events? Register for our LIVE B2B Elevator Pitch Workshop and walk away with carefully crafted words that you're proud to say ($195 admission) ?

?? If you found this newsletter insightful, please give this article a ??or tag your friends in the comments. It really does help :).

About Brewing Insights

Brewing Insights is a monthly newsletter for small/medium business owners and executives who want to skip the fluff and get straight to the insights and answers. Subscribe to learn 3 insights every month as John shares what's top of mind for him and distills them into immediately, actionable next steps. Subscribe on LinkedIn here ?

About John Way

John Way is the Founder and Product Owner of Pipelineapp.io , a B2B SaaS platform that takes the idle leads in your CRM or email list and converts them into qualified sales conversations and paying customers. It does that through digital scorecards and automated onboarding.

John is also a LinkedIn Top Voice for Business Networking, and he shares his expertise as host for B2BSalesMagic , a B2B-only, networking mastermind community. Why? Because random acts of networking can lead to coffee conversations but they rarely land you customers.

?? Want to see what strategic networking is like? Register for the next B2BSalesMagic open networking event ?