B2B Revenue Acceleration
B2B Revenue Acceleration

Episode · 3 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 are listening to be tob revenue acceleration, a podcast dedicated to helping software executives stay on the cutting edge of sales and marketing in their industry. Let's get into the show. Hi, welcome to be to be a revenue acceleration. My name is Ahia Muchi, and I'm out today with Adam Junachue, the CEO of spiral dot AI. Are you doing it to the Adam? I'm doing excellent. How about yourself? frontastic, very, very good. So the topic that we want to discuss with you today, Adam, is around the top eight reasons no one is buying from you. I think is absolutely fantastic. So is that sort of disruptive title, fault put get that I'm always looking for. But before we get into the into the topic itself, would you mind introducing yourself, as well as your companies by road? Dot Ai? Yeah, sure, no problem, spirow. What we're all about is helping sales people being more productive, and we've created a software platform that we call proactive relationship management, which is essentially a way for artificial intelligence to help sales people know what they need to do and do all the data entry. That's normally associated with with products like crm for them so they can spend the time, you know, making calls, following up, having meetings, doing the sales things that they need to do, not the boring administrative crap that so often comes with sale. And we have a software platform that does that. And actually, so what we're going to talk about today, the the eight most common reasons why nobody's buying from you, came from research that we discovered while we were building the product. Could that makes sense? So, for your Kara Yah, you've identified h reason why companies, I'm not buying your producol services. Would you mind quickly walking us through this h reasons? Yeah, sure, and some of them, you know. Of course, not all of them applied to everybody and some of them are kind of sad actually too. But but we'll kind of go through them. When we built our product, Spirou, it uses artificial intelligence and so we had to train the product with Twentyzero sales people to get the artificial intelligence working properly, and it was by working with these twentyzero sales people that we discovered these trends about the reasons why people didn't buy, and one of the the top reasons that we identified was the fact that people didn't have a unique selling proposition. That's a bad and and you would be amazed by the number of sales people out there who are just, you know, trying to build relationships or, you know, make connections, but they never really say hey, here's the thing that I can, you know, really really help you with. Yeah, and so that's that's a major problem for a lot of people. And so we definitely, you know, encourage people to make that part of the conversation very, very early when they're engaging with prospects. Absolutely speak amout prospects. That the number two reason that we found that people are not making sales happen is that they're targeting the wrong people. Yeah, boy, know ...

...exactly. You know, I think. You know, when you're in sales, you know the whole world is your oyster. You can convince anybody of anything. You know, perhaps you think and that's that's awesome and you know, we love enthusiasm in sales people, but you know, you can, you know, 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 progress with the wrong people, only at the very end to have them say hey, what is this? I don't understand. You know, let's go on. So I'd say that this, you know, targeting the wrong people, is actually something that's much more common for really good sales. So really good sales people who are listening in today keep this in mind. Just so quick what on the topic? What, when you say targeting to the wrong people, would you say on the side of the right Belson, I the wrong function, or would you say someone told Junio and the organization all? You saying both? I'm saying both. I think that people generally have a good understanding of the type of company that should be buying their services. But what I find is even with my own sales team, you know we're not talking with the person who's going to sign the contract. You know we're talking to an influencer, somebody has a lot of impact on decision, but maybe not the ultimate person. And then again, as you get further into the sales process, you cannot lose perspective because you're talking to the wrong person completely. Yeah, I mean we had a sale situation going on the other day where we fought. We were very far along with with the prospect and we finally got the CEO of this company on the phone and the CEO's primary concerns all about project management and not about sale, and that kind of derailed everything in our pursuit, you know. So you got to really know who the decision maker is to make sure that they're part of the conversation completely. We've got another ton of example, but one of the most obvious one that I've seen my in my life, which is, you know, around the level of authority in the act in an account that you are sitting into. I was speaking to one of our clients, insight cells team, and they was struggling in converting in bounds inquiries into revenue. And, as you know, when someone is doing an inquiry, it might not be the CEO of the company doing an inquiry, but you will be someone walking into someone else team that will be doing some research and unfortunately, being insight cells, most of those guys were really junior and unfortunately, when you are working with someone with also pretty junior in an organization, they make you feel very comfortable in the sells process and a funy. People confuse that level of comport with the level of authority and because you are comfortable and someone respond to your call, because someone respond to your email, you may think that you're going to get the deal. But unfortunately, you know what of the question, as then said. Well, how many times in the last few weeks of you out one of your prospects say I am so sorry, very very sorry, but my buzz you say to go those away. I don't understand. I don't know. That's one why I really wanted to walk with you. But May buzzy say, you do something else, and and eighty post of them raise...

...the hands. So yeah, definitely engaging with the right people, barking at the right tree, is very important. Yeah, yeah, and I personally believe that the language that you use to try to figure out whether somebody's the right person on is super critical. I would agree in philosophy, and so I'm all about language. But but you know, if you say to somebody, are you to the decisionmaker on this, mean of course they're going to say yes. Looks like why wouldn't they say yes? So I always try to work, you know, with our sales team to try to, you know, ask a lot of different questions and try to figure out how to navigate the account that way, because it's, I think, that's so critical. Absolutely. Moving onto them, the Striden, I guess. Now moving on the number three, and and this is a sad one, but sometimes the product or service that you're selling just well, it's not that good. It 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 young salespeople, it was very common for us to blame the lack of features or something in that product for the sales. But sometimes, you know it's true and you know, I think that you have to look at your peers and you know, if they're not outperforming you, if everybody is not getting it done well, it might be time to think about selling something else. But as destructive as what I like it. Moving on down, but number for. You know this is related to it, but we we deal with a lot of customers who sell in very, very competitive markets and it can definitely be the case that a company, that a market gets oversaturated and and this is also related to the USP the unique selling proposition. But you know, if you are selling something that can easily be purchased from many, many vendors. You know, how do you differentiate yourself? And you know, sometimes you know it's the market is just really not the right thing that you should be targeting and you have to kind of as my friend Christopher Lockett says, you have to kind of niche down get much more specific about what you're trying to do to kind of help you stand out from the oversaturation of the market. That's that's very true. We actually see that. I'll self with in the UK market. But we see a lot of software company startups. Everybody basically is lending in the UK, from Asia, from Israel, from all the places, the US obviously order places. What you've got lots of lots of very good software brains and everybody when they come into Europe, and we see we see more and more going to Netherlands and those are places, but the traditional rout is to get into the UK, which means that the UK prospects, the UK and use are can be quite confused with different very proposition and there is so many best of briat solution it becomes very difficult to differentiate yourself. So yeah, we do definitely feel that. Yeah, and you know, the buyer gets really confused and overwhelmed and often I can prompt a new decision right there because there's just so many options before them, you know, and a lot there's a lot of studies, of course, that show that the more choices that people make,...

...that they have available to them, that you when they ultimately make the decision, they're going to be less satisfied just because they never know what the right thing that they should be doing. Yeah, do you see also the local competition? So if I take an example of the German markets, we like to say, and I think the German also like to say it, that you know we are German, we buy German. So I think the example of, I don't know, thought trying to sell cars in Germany. If you can go to Germany and you're gone the Autoban, which is done at a way, you will see a lot of Mercedes, Audi, BMW's, th remain brands that are German mate, but it's actually difficult to sell sometimes in the territory where there is a local competitor. You also see that as a potential issue. Way people would not be baying from you. Oh, absolutely, absolutely. It's funny that you mentioned this because I was in Munich a couple weeks back and which drove down to tyrol and Austria. My friend who drove me had a Hunda and I thought that was really u usual a friend. And so on the way down I was noticing how many Hundas we passed, which was almost none. So yeah, that's a very, very strong, you know driver in these kind of situations. And I think Ford in particular is done a really terrible job of positioning themselves to appear local in a way, and some other brands like McDonald's or you know other folks have done much better about making them be local, even though they're multi national, global organizations. Yeah, absolutely, but yeah, you finishes. I think the only difference is probably at mcdul may not have had a local competitor there and actually created the brands Prin very quickly. But Ye have for car manufacturer is good to be absolutely horrible in in Germany. But that there you go. Yeah, I mean. So, going back to the market being oversaturated, though, I mean I would say that, you know, in a place like France the food market is pretty oversaturated. You know, even though they had a new type of way of approaching the food market. I mean everybody was still eating every day, so there's no short it. Actually in frost if you got to Paris, you your company will give you money as part of benefits to go for lunch. So so it's that it's quite important to it's quite important for the French to go at it, but the market is actually opening up, I think, a few eels back, definitely, when I was a kid, the French who in French now, you know, you see a lot of Sushi restaurants. That's of fusion. So at least will opening up to the wall what, being a little bit less arrogant, is off would but now I enjoy. Yeah, but we'll just kind of kind of moving back to some of the stuff that we discovered. You know, another really, really big reason, you know, why people don't buy is because your product is not valued enough, and this is something that we see a lot of that. You know, companies are 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 or three to make the cut these days, you know. So you say, and you know it's nice to have. Yeah, it's interesting. People like it. They can...

...see it. But maybe the the Urri isn't that strong, or maybe it's hard to quantify the Roi, you know, or maybe you know it. You know it just in the corporate, you know, strategy. It's just not, you know, that important for them and what they're trying to achieve right this minute. You know, and we always encourage sales people to try to understand the corporate and departmental strategy of the groups that they're selling to to see how their their service or product aligns with that, or at least to 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's that's why we all we ought number seven, I believe now. Yes, yes, and so the last two are really about sales people themselves and sort of the things that sales people do. And one one for me, is really about building trust, right, and we have a very strong belief that, you know, people by, you know, based a lot on kind of emotional conscious because it's very hard to, you know, fully assess the whole rational intent of purchasing a product. And so they have two people have to rely upon these other clues to know if they're kind of going in the right way, and one of them is trust of a a salesperson and trust of an organization. And often, you know, we see sales people going for the close that's just premature, that they shouldn't be and they kind of lose trust with the prospect because they're trying to make something happen on their time frame as opposed to the prospects timeframe absolute. And then that ties directly to, you know, my big fear, which which is about being too pushy. You know, and if you look at a lot of so we were very active on a lot of sales forums on facebook and linkedin stuff like that, and you know there's a lot of stories by customers who are feel like salespeople are just being too pushy. You know, I don't know if this is ever happened to you with the salesperson, but being too pushy can often actually really backfire on you. It get the customer, your prospect, not wanting to deal with you at all and that kills as many sales you know, as anything else. I think. So yeah, very interesting about the too soft, too pushy. I've been told myself both I've been told by sales manage that I've been too soft. I've been told by sales manager, well, I've been to pushy. I've been told by clients that I could have been little bit odder on them and I've been told by cleans I've been to pushy. So I'm interested about that Ballad and and make question to you is I'll do you find that's right balance between being too soft and being too pushy? Well, it's really tricky, you know, as you said, and actually it's a great sales interview question. I always ask this question of sales to the what I'm interviewing them. I say, what's the thing that you did that was just pushy enough, but you wouldn't want 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 I think we get to pushy when we try to make it all happen...

...for us. Oh, it's the end of the month, it's the end of the quarter. You know, how do we make something happen? By them maybe the lines with their goals, maybe it doesn't align with their goals, but it's our job to, you know, take what they need and merge it with what we need, not just kind of push our own agenda on them. And I think, I think, as long as you're doing that, I think that you won't come out to pushy in the process. Yeah, it would, you say? It is basically pressure, the pressure of the number. You are, the end of the quote, at the end of the or your bets are, your Alfast for the year. But y'all trucking, being young number, so you'll own a jid that, which is driving more numbun but then you do pressure off y'all bus would pressure as you in being to pushy? Yes, I think that's a major driver of it. You know, and you have the quarters coming up and you really want the sale to come in and you know, you stop caring about, you know, helping the customer, which is what we're trying to do, and you're trying to get that thing done by the end of the month. And you know, I think it's perfectly fine to make it reciprocal. Hey, if I help you with this or that or the other thing, can you help me by making sure we get this done by the end of the month, grade or quarter, year or what have you. But but even you know, those timing discussions about when things are going to happen should happen way sooner than you know, the big rush at the end of the quarter. So I think that Miss Expectation is what causes, you know, a lot of pushing us. The other thing that causes a lot of pushing us, of course, is the fact that prospects really do not respond to us in the way that we would like them to. I mean we would like them to call us back, for example, or reply to an email or something like that. And I think just that that frustration that builds up about the lack of engagement from that prospect that you had this great conversation with two days ago and now they won't even return your call or email like and that's so I think that, you know, kind of gets under our skin and we lose the site that you know, maybe the prospect is having some sort of challenge that they're dealing with or maybe a personal thing or whatever, and then we get all aggressive and pushy and they're like, Oh, this guy's a jerk. Why did I even think it was a good conversation with them and then you never hear from them and you don't know why. Yeah, sometimes maybe it's because what would discussion is realize after aftermath that tement it was a nice to have, not a must have, or maybe wasn't the right person. So yeah, it's always interest having. For my perspective, the best way, and it's a statement, and I know it's difficult, you need to start somewhere, but when you've been in a company and you are in cells or certain part of time, is to just ensure that you've got enough pipeline at any time of the quarter, at any time of the year, so you're not dependent on deals. So if you're a dependent on deals, you can let you can allow for a prospect to be two months late without being anxious about it. You can allow and and it's a rich thing to say because of just the SU perfect world, but avoiding tension by having enough is great. And then the beauty of that at the end of the quarter when it's your prospect putting you on the pressure potentially because he can get yours away as well. If you deal with proclemament team, you have leverage...

...and you've got the best leverage that they are using against you, which is type, and if it's happen next quarter, it doesn't matter. So that's the beauty. I mean, that would be, I guess, one of the one of the solution I have seen in the past. Now I would like to come back to one of the points, number free, number three, which is your product is not great. I've got the opportunity, have got the chance to to walk closely and to have customers, were entrepreneuls, were people who build up down solution, build up down products, and you know it's the baby, and what you are telling them with number three is that the baby is ugly. Okay, so that's not a great, great thing to say. Is probably the right thing to say if it's true. Now I would expect people to resist that, first of all. So I would expect some of someone who's been spending a few years and pushing a product to us, service to market to react slightly aggressively to that sort of statements. But I also think is tough to discern if it would be or to understone if it's a product tissue or value proposition issue. So I'd like to come back slightly on that. That point, and it would be good if you could elaborate a little bit more on the topic for us. And now you go about solving that issue? Yeah, sure, so. I mean it's something that's very near and dear to me because, you know, we launched spureau the product two years ago and we'd spent, you know, a couple of years of building it before that and so achieving you know what would a lot of people call product market fit, you know, making sure that what you've delivered is is something that people need, is so hard because, you know, entrepreneurship, you know, in new products are so often borne by somebody's just burning, you know, insight that this thing is important and then you have to go test it right. But I think that the way that I look at a lot of products, new products, is that they're really caterpillars and that they're not butterflies and that there's a natural, you know growth of a product over time that can make it a butterfly. And the goal of the salesperson and the goal of the executive, the founder, the missionary, you know leader for this product is to sell the customer on the benefit of the butterfly and show them the path of how to get there. And not necessarily, you know, be focused on the here and now, and I I find that a lot of early stage companies are not doing enough of that. They're not going to setting the stage for what's going to be happening. So which responsibility would it be then? Because again you've got some fantastic par secularity the technology space, you've got some fantastic could people developed people so they can developed a product, and then you've got the marketing in the cell stine that up speaking to customers would expect on a daily basis. So I would you see the feedback coming back up and everything is done, any specific best practices that you've end up at it? You could show is all augience in getting this reserve if you're if you fore your own that situation.

Yeah, well, so, I mean so, for a you know an organization that has a sales team that's selling a product and the leadership is concerned that their baby might be ugly, as you put it, not me, I didn't say that. You said that, but anyway, any rate, you know. So we would definitely encourage them to spend a lot of time in trying to understand the reasons why they're losing the deal, you know, and you know if if the feedback is coming back that it's, you know, related to point number six, that it's just not valuable enough. You know, that's the area that I would be most concerned. You know, if it's price, if it's timing, if it's you know, if you're just getting told no, you're not getting any meetings, that those are all things that you can understand really well, you know. But if you're in that 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 that you're selling to and understanding what are their key strategies, your initiative, what's going on in that industry that you can hook your product to and make sure that that product really fulfilled. Otherwise, you know, you might go from ugly to less ugly, but you're never going to go to, you know, the kind of product you need, a butterfly exactly. Yeah, yeah, okay, that makes perfect sense. Well, I would like to thank you very much that I'm for your time today and sharing an all your insights with wizologience. So if anyone so that's a push that's west to everyone. But if anyone wants to get in touch with you personality or engage your own Spiro that ai and and discuss y'all. So we sees in multitails. What's the best way to get told of you? Sure? Well, people can certainly find out a lot of information about Spirou, the the product, as Spirou dot ai is our website. We we have a very active blog where we publish two or three times a week about sales content, tips about selling or, you know, strategies to overcome, you know, situations and sales and so you might want to check that out. But if people want to reach me, you can email me directly at Adam at Spiro dot ai or reaching on twitter, and my twitter handle is Adam Hodak, Adam Chow and I g and it's really been great to be talking with you today. Wow, it was great to have under shot Adam operatics has redefined the meaning of revenue generation for technology companies worldwide. While the traditional concepts of building and managing inside sales teams inhouse has existed for many years, companies are struggling with a lack of focus, agility and scale required in today's fast and complex world of enterprise technology sales. See How operatics can help your company accelerate pipeline at operatics dotnet. You've been listening to be tob revenue acceleration. To ensure that you never miss an episode, subscribe to the show in your favorite podcast player. Thank you so much for listening. Until next time.

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