The Five Ways to Close a Million Dollar Deal

We spoke to Tapi Roll, Director of Sales Development on closing the biggest deal in SalesScreen history. Here is his top five must-haves for closing a million dollar deal.

The Five Ways to Close a Million Dollar Deal

Every deal is different and depending on the products you are selling and the industry you are selling to, there are dozens of variables that could impact the total investment, how comfortable your clients are with you, or if they ever even sign. When it comes to larger deals, especially those over that magical million mark, the number of hoops and red tape can be extremely daunting. Back at the tail end of Q4 in 2021, one of our sales reps, Tapi, closed what was the biggest deal in SalesScreen history. Here are his five key takeaways to help you close the next white whale on your team’s horizon.

Patience & Persistence Pay

Any experienced rep will tell you that the quickest way to spoil a layup of a deal is by rushing the process. When it comes to larger companies with bigger budgets, every new piece of software or product needs to be tested, vetted, and approved. This process can take years and staying top of mind throughout that process with key decision-makers is key. Doing your due diligence on the front end to establish potential key decision-makers, doing discovery calls with them, and learning more about their pain points and needs will help you close the deal further into the funnel. Tapi exercised immense patience in the year-long process of working with this 15K+ employee tech company, but his diligence on his discovery calls allowed him to get to the root of the issue at each step. Most importantly, Tapi wasn’t going in alone.

Huddle Up & Prep

Teamwork not only lightens the load, it is what makes these larger deals even a feasibility. Trying to customize pitch decks, work through complex workflow issues, and trying to assuage the fears of an entire corporate team on your own is an almost impossible task. Tapi says it best, “Team huddles were like therapy, silencing the turmoil of emotions as we discussed next steps, roles, and responsibilities. The focus and determination of the team made it easier for me to see the next milestone, envision our mutual goal, and feel confident about all the progress we’ve made to get there.” As sales reps, SDRs, and sales leaders, we are not alone in the process, and trying to act on your own will only make your life harder. Embrace the expertise of the team around you and you will make your life drastically easier.

Ride The Rollercoaster

As we said earlier, many of these bigger deals can last for 1-2 years, and you will bounce from buyer to buyer within the organization itself. From your first touch with an SDR or potential candidate for your software or product to the final meeting with a CEO or CRO, every meeting is full of potential stresses. Make sure that you absorb the information shared in these meetings but take your mind off the madness when it is all said and done. Nothing gets done through stress and anxiety but riding the rush of a great push in the sales cycle can help you push past the hard times. If you or your team are struggling to deal with stress or are starting to feel the effects of burnout, check out our beat the burnout guide here.

Welcome Leadership

Your bosses have experience in the industry, and they are more than happy to get involved in larger deals if a potential customer has any questions or concerns. Bringing in your CRO or even your sales manager to a meeting can help your potential customer hear the benefits of your product from a different viewpoint, and they can oftentimes dive into the real pain points your buyer is experiencing. When Tapi brought in senior leadership, “the executive team and CEO helped elevate the conversation and bonded with our new customer’s executive team, in addition to providing reassurance and confidence to an account executive on the fence.” Don’t shy away from guidance! Your leadership wants you to succeed just as much as you do, and they will be more than happy to jump on a call or take a meeting for a large deal.

Call In the Cavalry

Your sales team most likely has a litany of resources to draw from whenever you are pitching a new client. One of the best ways to wow a big client is by customizing your pitches, bringing in real-life examples of how your product fixes their exact issues, and doing it all with customized materials from your marketing team, product team, and onboarding team. Even if these teams are only made up of one or two people, big deals are the perfect time to tap them for help. When you succeed, your company succeeds, and those big deals really do some heavy lifting. Tapi says it best, “All in all I was never alone on that roller coaster. Nor was I a single player on the field. I had the pleasure of playing the game with a dedicated and talented group of teammates.” If you are looking for ways to motivate your sales team or want to boost revenue and productivity, request your free demo of SalesScreen here. Good luck riding that rollercoaster and we will see you on the sales floor!

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