There are No “Quick Wins” When it Comes to Revenue

One of the funniest things I hear in the sales world is “we just need some quick wins”…

While every once in a while, a seller might get lucky by hitting the timing perfectly, realistically, there are no quick wins when it comes to closing a deal. In order to win new business, it takes a series of conversations, demos, use cases, proposals, and negotiations to get a prospect comfortable enough to buy from you the first time. TRUST and comfort must be built.

Yes, the first time is ALWAYS the hardest when it comes to sales.

In ad tech, many companies have built reliable solutions which, in theory, can help a brand or agency reach one (or several) of its goals. No matter how incredible the tech is, getting someone to trust you with their money is difficult. This is why many companies pay top dollar for sales talent who already have long-standing relationships with customers.

If the seller endorses the tech/service, it removes some, but not all, of the uncertainty. It expedites the trust-building process by several months because the seller has spent years building the relationship with the buyer. If the seller endorses the tech/service, and the buyer trusts the seller, a major hurdle has been cleared… but that’s not everything.

The harsh reality of sales today is that the simple act of getting a prospect’s attention can be challenging. Each month, their inboxes are filled with hundreds of emails from vendors all vying for their attention - and dollars. There are also fewer opportunities for in-person networking than there were pre-COVID. So, unless you've got a pre-existing "rolodex," you've got to get creative with how you are able to secure new meetings.

Of course, those with strong relationships do get their emails opened, but then what? Once you have their attention, try finding a time on their overpacked calendar. Most of these folks are overcommitted and understaffed. God help them.

An old saying I heard in my TV selling days was “getting the meeting is half the battle”…

While that may be true, it doesn’t mean you’re 50% of the way towards closing the sale. It’s probably closer to 10%. These are the facts:

• Getting in the room is a big win. Executing a solid meeting is bigger.
• Generating interest and agreeing upon next steps is great. Receiving honest feedback is the greatest.
• Actually signing a contract and launching the first campaign is amazing. Delivering on what you promised is incredible.
• Sometimes, collecting on the invoice can be a pain :) but that’s what puts food on the table.

When you break it all down, it’s my estimation that at least twenty things need to go right for a new vendor to be paid on their first deal with a client. You can’t speed this process up much if things are done in an ethical, responsible manner.

If you want a “quick win,” you’ll have a much easier time getting it from an existing customer who already trusts you because you’ve delivered for them in the past.

The truth is, selling a new client is the most difficult thing a startup has to do. As someone selling a new product, you can execute everything flawlessly and still fail to get the sale … for twenty plus reasons! When you say it out loud, it almost sounds funny in a strange, twisted way.

Want to hear something funnier? Sometimes people expect to get this work for free. They’ve somehow convinced themselves that their product/service sells itself, and see sales as entirely a numbers game. 10 meetings = 4 RFPs = 1 deal … or something like that.

On average across the industry, that math may check out. However, so many factors can increase or decrease the odds of the sale happening.

The primary factor is the buyer's familiarity with the organization the seller is representing. If they're unknown, it's going to obviously take longer to get a commitment. That seems to be common sense when it comes to all human interaction.

After this, the majority of the determining factors are entirely predicated upon communication with the client. “Communication” is a broad term to use for the entirety of the interactions between seller and prospect, but that’s truly all it's based on. You're communicating:

• Differentiation
• Use Case
• Credibility and Trust
• Value and Investment
• Ease of Execution
• Timing

… Within and across an organization. Because, is there really one single decision-maker anymore? Probably not.

Some of the best Founders I've worked with not only understand this process, but also roll up their sleeves and work through it with their teams. Their appreciation for the sales process is entirely rooted in their understanding of people. These founders are a pleasure to partner with because they are realistically patient with the process. This patience helps prospects feel comfortable with the "new vendor" they're about to risk their professional reputation on. Concurrently, it also allows the prospect an opportunity to recognize the Founder's dedication to what they've built.

For folks on the sales side of things, a great way to weed out potential partners to represent is to understand how they view this sales process, and what value they assign to it. Those that have a realistic view of the landscape appreciate the time, patience, and attention to detail this process requires.

If they don’t, you probably don’t want to do business with them.

Until next time :)

-Anthony Tsigourakos, Founder of Good Name Consulting

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