B2B Revenue Acceleration
B2B Revenue Acceleration

Episode · 2 years ago

40: The Top 8 Reasons No One is Buying From You w/ Adam Honig

ABOUT THIS EPISODE

On this episode of the B2B Revenue Acceleration podcast, I interviewed Adam Honig, Co-founder and CEO of Spiro.ai. Adam shared the top 8 reasons customers might not be buying from you. Understanding these issues can help you course correct if you’re struggling and increase your success in going after deals.

You're listening to be to B RevenueAcceleration, a podcast dedicated helping software executives stay on thecutting edge of sales and marketing in their industry. Let's get into the show hi welcome to be to be a revenueacceleration. My name is Oelia Mitanemi today, with Adam Honiq, the CO of spyroad at AI. Are you doing the Adam I'm doing excellent? How about yourself?Fantastic, very, very good, so the topic that we want to discuss with youtoday, atem is around the top eight reasons. No one is buying from you, Ithink, is absuutely fantastic. It O is that sort of disruptive title forPartat, I'm allways looking for, but before we get into the into the topicitself, would you mind introducing yourself as well as your companiesByroad, that Ai yeah sure no problem as Spiro? What we're all about is helpingsales people be more productive and we've created a software platform thatwe call proactive relationship management, which is essentially a wayfor artificial intelligence to help sales. People know what they need to doand do all the data entry. That's normally associated Wi th with productslike crm for them, so they can spend the time you know making callsfollowing up having meetings, doing the sales things that they need to do notthe boring administrative crap that so often comes with sale, and so we have asoftware platform that does that and actually so, what we're going to talkabout today. The the eight most common reasons why nobody's buying from youcame from research that we discovered while we were building the product.Okay, that makes sense so through your career. You've identified eight reasonwhy companies are not being your produtor services. Would you meanquickly walking us through this ige, risons, yeah, sure, N and some of them?You know, of course not all of them apply to everybody, and some of themare kind of sad actually to, but but well will kind of go through them. Whenwe built our product SPIREA, it uses artificial intelligence, and so we hadto train the product with twenty thousand sales people to get theartificial intelligence working properly, and it was by working withthese twenty thousand sales people that we discovered. These trends, about thereasons why people didn't buy and one of the the top reasons that weidentified was the fact that people didn't have a unique sellingproposition. That's about and- and you would be amazed by the number of salespeople out there who are just you know, trying to build relationships or youknow, make connections, but they never really say hey here's. The thing that Ican you know really really help you with yeah, and so that's that's a majorproblem for a lot of people, and so we definitely you know, encourage peopleto to make that part of the conversation very very early whenthey're engaging with prospects, absolutely speaking about prospects,that the number two reason that we found that people are not making saleshappen, is that they're targeting the wrong people?...

You know, I think you know when you'rein sales. You know the whole world is your oyster. You can convince anybodyof anything. You know. Perhaps you think, and en that's that's awesome,and you know we love enthusiasm in sales people, but you know you can youknow really waste a lot of time and actually, what turns out is, if you're,a really really good salesperson. You can actually make a lot of progresswith the wrong people only at the very end to have them say hey. What is this?I don't understand. You know t's, let e on so so. I'd say that this you knowtargeting the wrong. People is actually something that's much more common forreally good sales, so really good sales. People who are listening in today keepthis in mind its just a quick quite on the topic. What when you say targetingo the wrong people, would you say on the side of the right person, I thewrong function, or would you say someone to genior in the organization?Are you saying both I'm saying both? I think that people generally have a goodunderstanding of the type of company that should be buying their services EA.But what I find is even with my own sales team, you know we're not talkingwith the person who's going to sign the contract. You know wwe're talking to aninfluencor. Somebody has a lot of impact on the decision, but maybe notthe ultimate person and then again, as you get further into the sales process,you kind of lose perspective because you're talking to the wrong personcompletely yeah, I mean we had a sales situation going on the other day wherewe fought. We were very far along with the prospect and we finally got the Couof this company on the phone and the CEOS primer. CONCERMER was all aboutproject management and not about sale and that kind of derailed everything inour pursuit. You know, so you got to really know who the decision maker isan make sure that they're part of the conversation completely. We've got aohton of example, but one of the most obvious one that I've seen my in mylife, which is around the level of authority in the inan account that you are sitting into. I was speaking to one or four clientsinside senls team and they was truggling in converting inboundsinquiries into revenue and, as you know, when someone is doing an inquiry, YotMigh not be the Seyou of the company doing an inquiry, but you will besomeone walking into someone else team that will be doing some research and,unfortunately, being inside Seles. Most of those guys were pretty genial andunfortunately, when you are walking with someone with also pretty genureand organization, they make you feel very confortable in the ses process andoftenyor people confuse that level of conforlt with the level of authorityand because you are confortable and someone respond to your cool becausesomeone respon to your email, you may think that you're going to get the deal.But unfortunately you know one of the question ask an say: Well How manytimes in the last few weeks of you are one of your prospects Ay. I am so sorryvery, very sorry, but my Bot desay to gonosaway. I don't understand. I don'tunderstand why I really wanted to walk with you, but may Boyo do somethingelse, and eighty persont of them raised...

...the hand so yeah definitely engagingwith the right people. Barking at the right tree is very important. Yeah Y H-and I personally believe that the language that you use to try to figureout whether somebody's the right person on is super critical. I Ive a degree inphilosophy, it's Soi'm all about language, but but you know, if you sayto somebody: Are you to the decision maker on this? I mean, of course,they're going to say yes its like. Why? Wouldn't they say? Yes, so I always tryto work. You know with our sales team to try to you know, ask a lot ofdifferent questions and try to figure out how to navigate the account thatway, because I think that's so critical, absolutely wile Gonto nom be Freeton. Iguess now Movin ons number three and then this is a sad one, but sometimesthe product or service that you're selling just well. It's not that goodit might. You know you might think it's really good, but maybe maybe it isn't.You know I feel like early in my career. You know working with a bunch of youngsales people. It was very common for us to blame the lack of features orsomething in that product for the sales. But sometimes you know it's true, andyou know. I think that you have to look at your peers and you know if they'renot out performing you. If everybody is not getting it done well, it might betime to think about selling something else, but as disruptive as well, I likeit moving on Yeaho number four. You know this is related to it, but we wedeal with a lot of customers who sell in very, very competitive markets, andit can definitely be the case that a company that a market getsoversaturated and- and this is also related to the USP unique sellingproposition. But you know F. If you are selling something t, I can easily bepurchased from many many vendors. You know how do you differentiate yourselfand you know sometimes you know it's. The market is just really not the rightthing that you should be targeting and you have to kind of. As my friendChrisoperlocket says, you have to kind of Nich down, get much more specificabout what you're trying to do to kind of help. You stand out from theoversaturation of the market. That'. That's very true. We actually see thatourselv with in the UK market, but we see a lot of software company startups.Everybody basically is lending in the UK from Asia from Isral from all theplaces. The US, obviously all the places, WT wher you've got lots of lotsof very good stuff to our brains and everybody. When they come into Europetend we see we seemo and more going to Netherlanand ther places, but thetraditional rude is to get into the UK, which means that the UK prospect, theUK anduwser can be quite confused with with different vary proposition. Thereis so many best of breat solution. It becomes very difficult to differentiateyourselve yeah. We do definitely feel that yeah and you know t the buyer getsreally confused and overwhelmed and often that can prompt a new decisionright there, because there's just so many options before them. You know anda lot there's a lot of studies, of course that show that the more choicesthat people make that they have...

...available to them, that when theyultimately make the decision they're going to be less satisfied just becausethey never know it the right thing that they should be doing yeah ou see alsothe local competition. So if I take an example of the German market, we liketo say and ithink the German also like to say it that you know we are German,we by German, so I think the example of I don't know thought trying to sellcals in Germany. If you can go to Germany and you go on te or Tuban,which is the motor way. Youll see a lot of Mercedes ALD, pmwremain brains thatare German made, but it's actually difficult to sell. Sometimes in theterritory where there is a local competitor. Youso see that as apotential issue, whey people would not bebaing from you. Oh absolutely,absolutely it's funny that you mentioned this because I was in Municha couple weeks back and we drove down to Tyrola and Austria. My friend whodrove me had a Hundi, and I thought that was really unusual, Asfr and so onthe way down. I was noticing how many Hundis we passed, which was almost nonY, so yeah, that's a very, very strong. You know driver in these kind ofsituations- and I think Ford in particular is done a really terriblejob of positioning themselves to appear local in a way and some other brandslike McDonalds, or you know other folks have done much better about making thembe local, even though theire multi, national or global organizations yeahabsolutely but t yeah ISS. I think the only difference is probably a mcdol maynot have hadthe local competitor there and actually created the braan printvery quickly. But Yeah Forfo for calmanyeufacture is got to beabsolutely orrible in in Germany, but that there you go yeah I mean so goingback to the market being oversaturated, though I mean I would say that you knowin a place like France, the food market is pretty oversaturated, you know, eventhough they had a new type of way of approaching the food market. I meaneverybody was still eating every day, so there's no shortag like actualy inFrance. If you go to Paris, your company will give you money as part ofbenefits to go follege. So so it's quite important O it's quite importantfor the French to go and Eit, but the market is actually opening up. I thinkof feels back. Definitely when I was a kid, the French writing. French. Nowyou know you see a lot of Sushi restaurants, lhat's of vision, so atleast wopening up to the wall were being a little bit less arrogant withour food, but now I o yeah but Wel, just kind of kind of moving back tosome of the stuff that we discovered. You know another really really bigreason. You know why people don't buy is because your product is not valuedenough, and this is something that we see a lot of that you know. Companiesare selling something that maybe like the fifth or sixth highest priority.That organization has, but it really needs to be like the top one, two orthree to make the cut these days. You know so you, Saing D, You know it's anice to have yeah it's interesting people like it. They can see it, butmaybe the the RRI isn't that strong or...

...maybe it's hard to quantify the Roi.You know- or maybe you know you know, just in the corporate you know strategy,it's just not. You know that important for them and what they're trying toachieve right this minute. You know- and we always encourage sales people totry to understand the corporate and departmental strategy of the groupsthat they're selling to to see how theyr their service or product alineswith that or at least a make. The case, of course, that it does but yeah.That's that's another really big killer in the sales process. Okay, so that'sthat's! Why wel? We are number seven, I believe now. Yes, yes and so th, thelast two are really about sales people themselves, and so the things thatsales people do and one one for me- is really about building trust right, andwe have a very strong belief that you know people buy. You know based a loton kind of emotional contionse, because it's very hard to you know fully assessthe whole rational intent of purchasing a product, and so they have to peoplehave to rely upon these other clues to know if they're kind of going in theright way- and one of them is trust of salesperson in trust of an organizationand often you know, we see sales people going for the clothes, that's justpremature that they shouldn't be, and they kind of lose trust with theprospect, because they're trying to make something happen on their timeframe as opposed to the prospects time frame. Okay and then that ties directly to youknow my big fear, which, which is about being too pushy. You know, and if youlook at a lot of so we were very active on a lot of sales forums on facebookand Lindoln nd stuff, like that, and you know, there's a lot of stories bycustomers who are feel like sales. People are just being too pushy. Youknow, I don't know if this has ever happened to you, W th, with thesalesperson but being too pushy can often actually really backfire on you.You get the customer your prospect not wanting to deal with you at all, andthat kills as many sales. You know as anything else. I think so yeah veryinteresting about the tosof to pushy I've been told myself. Both I've beentold by Salls managolet have been too soft. I've been told by SES manageiebeen to pushy I've been told by Crians that I could have been a little bitolder on them and I've been told by ONS ive been to pushy. So I'm interes Telabout that ballet and my question to you is: How do you find that's rightbalance between being too soften being to pushy? Well, it's really tricky. Youknow, as you said, and actually it's a great sales interview question. Ialways ask this question of sale tothe what I'm interviewing them. I say:What's the thing that you did, that was just pushy enough, but you wouldn'twant to go anymore pushy to really get their take on that. But you know for me,you know I think it starts with trying to keep the customer prospect in mind.I mean we, as salespeople, are there to help them achieve something, and Ithink we get too pushy when we try to...

...make it all happen for us. Oh it's theend of the month. It's the end of the quarter. You know how do we makesomething happen by them? Maybe the lines with their goals. Maybe itdoesn't align with their goals, but it's our job to you know, take whatthey need and merge it with what we need not just kind of push our ownagenda on them, and I think I think, as long as you're doing that, I think thatyou won't come out to pushy in the process yeah. I would jos say I isbasically pressure. The pressure of the number you ar the end of the quate Ad-you know the Oh, your better, your unfaced for the year, but you aretracking being your number. So your own agenda, which is driving my number andput tintially the pressure of your bus, witd pressureaze, you indin to push it.Yes, I think that's a major driver of it. You know, and you have the quarterscoming up and you really want the sale to come in and you know you stop caringabout. You know helping the customer, which is what we're trying to do andyou're trying to get that thing done by the end of the month, and you know Ithink it's perfectly fine to make it reciprocal hey. If I help you with thisor that or the other thing can you help me by making sure we get this done bythe end of the month, Rade or quarter year? What have you? But, but even youknow, those timing. Discussions about when things are going to happen shouldhappen way sooner than you know the big rush at the end of the quarter. So Ithink that mis expectation is what causes you know a lot of pushiness. Theother thing that causes a lot of pushiness, of course, is the fact thatprospects really do not respond to us in the way that we would like them. ToI mean we would like them to call us back, for example, or Eli to email orsomething like that, and I think just that that frustration that builds upabout the lack of engagement from that prospect that you had this greatconversation with two days ago and now they won't even return your calloremail like and that's so I think that you know kind of gets under our skinand we lose the site that you know. Maybe the prospect is having some sortof challenge that they're dealing with or maybe a personal thing or whatevernd. Then we get all aggressive and pushy and they're like. Oh this guys, aJert. Why did I even think it was a good conversation with them and thenyou never hear from them, and you don't know why? Yeah sometimes maybe it'sbecause whatwit discussion in the realize afer after mathat. He went, itwas a nice to have not to mess staff or Maye was not the right person so yeah.It's always interesting thing. For my perspective, the best way I's a statement, and I know it'sdifficult. You need to start somewhere, but when you've been in a company andYouare in cells or certain Pir of time is to just entul that you've got enoughpipeline at any time of the quator at any time of the year, so you're notdependent on dams. So, if you ane dependent on deals, you can let you canaloa for prospect to be two months late without being angious about it. You canalo an IT's a rich thing to say because of just the SUPERFIC war, but avoidingintention by having enough is great and then the beauty of thes at the end ofthe QUATA. When it's your prospect, putting you on the pressure potentiallybecause you can go yous Oway as well. If you deal with procomant Tam, youhave leverage and you've got the best...

...leverage that there using against you,which is type and if it's up a next quater doesn't matter. So that's thebeauty I mean that would be. I guess one of the one of the solution I ha'veseen the past now. I would like to come back to one of the points. NOMBER RYnumber of tray, which is your product, is not great. I've got the opportunity.Ive got a chance to to walk closely and to have customerswere entropronous where people whove build up their own solution, build Tu,thei own products, and you know it's the baby and what you are telling themwith no go hres that their baby is ugly okay. So that's not a great great thingto save is probably the right thing to say. If it's true now, I would expectpeople to resist that first ivalce. So I would expect ou someone who's beenspending a few years and pushing a product to our Sarvice to market, toreact slahtly aggressively to that sort of statements, but I also think istough to discern if it would be to Undeston if it's a product issue orvalue proposition issue. So I'd like to come back slightly on hi that point andit wouldn be good. If you could elaborate a little bit more on thetopic for us and how you go about solving that issue, yeah sure, so Imean it's something, that's very near and dear to me, because you know welaunched spira the product two years ago and we'd spent. You know a coupleyears of building it before that, and so achieving you know what woat a lotof people call product market fit. You know making sure that what you'vedelivered is something that people need is so hard because you knowentrepreneurship, you know, and new products are so often born bysomebody's just burning. You know insight that this thing is importantand then you have to go test it right, but I think that the way that I look ata lot of products new products is that they're really caterpillars and thatthey're not butterflas and that there's a natural you know growth of a productover time that can make it a butterfly and the goal of the salesperson and thegoal of the executive. The founder of the missionary you know, leader forthis product, is to sell the customer on the benefit of the butterfly andshow them the path of how to get there and not necessarily, you know, befocused on the the herea now and I I find that a lot of early stagecompanies are not doing enough of that. They're not going tof setting th thestage for what's going to be happening so which responsibility? Would it be?Then, because again, you've got some fantastic particuar. I, the technologyspace you've got some fantastic cood people developo people, so they candevelop the product and, and then you've got the marketing an the seletythat are speaking to customers. Wild expect on a daily basis. So Oldo yousee thos the fitback coming back up and everything is that an specific bestpractices that Youe seen the pathat you could show with augence getting this resorve. If you, if you'refor your ow that situation yeah well,...

...so I mean so, for you know anorganization that has a sales team, that's selling a product and theleadership is concerned that their baby might be ugly. As you put it not me, Ididn't say that you said that I butanyway an rate you know, so we woulddefinitely encourage them to spend a lot of time and trying to understandthe reasons why they're losing the deal. You know, and you know if the feedbackis coming back, that it's you know related to point number, six, that it'sjust not valuable enough. You know that's the area that I would be mostconcerned. You know if it's price, if it's timing, if it's you know, ifyou're just getting told no you're, not getting any meetings that those are allthings that you can understand really well, you know, but but if you're inthat zone, where it's like, it's a nice to have that's that's the problem area.You know, so you need to you know, go deeper into the type of customer thatyou're selling to and understanding what are their key strategis orinitiative. What's going on in that industry that you can hook your productto and make sure that that product really fulfils otherwise, you know youmight go from ugly to less ugly, but you're never going to go to you knowthe kind of product you need a betterfly, exactly a yeah okay. Thatmakes perfect sense. Well, I would like to thank you very much o them for yourtime today and sharing all your insights with withoulogyanc, so ifanyone as a quetion at wes to everyone, but if anyone wants to get in touchwith you personally or ongageon, Spiro, that AI and nd discuss your services inmore details, what's the best way to get old of you sure, well, people cancertainly find out a lot of information about spirau the the product that SpiroDot ai is our website. We have a very active blog where we publish two orthree times a week about sales content tips about selling, or you know,strategies to overcome. You know situations and sales, and so you mightwant to check that out. But if people want to reach me, you can email medirectly at Adam at Spiritotai or reach meon, twitter and my twitter handle isAdam Hode, Adam Ho Nig, and it's really been great to be talkng with you today,wew, it was great to have Untershoteatam operadics has redefined the meaning ofrevenue generation for technology companies worldwide, while thetraditional concepts of building and managing insize sales teams in househas existed for many years. Companies are struggling with the lack of focus,agility and scale required in today's fast and complex world of enterprisetechnology sales. Seeo operatics can help your company accelerate pipelineat operatics. Dot Net you've been listening to be to be revenueacceleration to ensure that you never miss an episode subscribe to the showin your favorite podcast player. Thank you so much for listening until nexttime.

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