The enterprise software space characterizes itself by fierce competition: big players with big budgets who are not shy to ‘buy the customer’ with bags of tricks.
Memories come back when I think about it. We often felt trapped defending our software solution against ‘them.’ You can’t blame your prospect for challenging you. As they say, ‘no one ever got fired from choosing XYZ (name your brand).’
If all things are equal, the customer decides on trust and price. And yes, choosing a multi-billion player who ‘leads’ the magic quadrant (even though it’s of no specific benefit to them) is then always the safe bet. Until there’s difference….
And that’s what we betted on.
We did our homework.
We found out who’d benefit most from investing in our solutions and why.
We repositioned ourselves and started selling a big idea instead of the product.
That difference in approach worked like magic.
The results came.
We started to resonate with the right organizations.
We started to appeal to the right people.
Win rates went up to the high 80% range
And deal values raised considerably.
By selling the idea, we created believers, which helped establish a strong mental bond. This translated into mutual trust, and the rest is history.
Customers turned into fans, and the competitors we once feared started to qualify out often the moment they saw us as they entered the room for an RFP briefing.
It’s magic when you experience it.
Do you qualify out with your software business the moment you see a specific competitor? What if you turn the table?