The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 7 months ago

Friday Fundamentals 130: Kyle Racki


Friday Fundamentals 130: Kyle Racki

Hey everybody, it's Sam Jacobs.Welcome back to the salesacker podcast. Welcome to Friday fundamentals. Happy Friday.Hope that wherever you are it is warm and wonderful and that you're enjoying sometime out in the sun. And if not, I'm sorry. We're hereand we're back with Kyle Racky, the cofounder and CEO of propose a FY, to talk to you about eight points, eight things that you can do toimprove your sales process and close more deals. Now, before we dothat, we want to thank our sponsor. Friday fundamentals is brought to you byoutreach. Out which triples the productivity of sales teams. That empowers themto drive predictable and measurable refine growth by prioritizing the right activities in scaling customerengagement. With intelligent automation, outreach makes customer facing teams more effective and improvesvisibility into it really drives results. Now, Kyle, welcome back to the show. Hey, Sam, I'm going to be back. We're excited tohave you so today we ask you this. Propose of I has created some researchand one of the things that you...

...all have created is eight things todo to improve your sales process and close more deals. So tell us whatthose eight things are. Absolutely so. This is all taken from our stateof proposals guide, which we update every year, and we basically crawl ourdatabase of proposals for all this data and insight and then we come up withsome action will take away. So these are the Eid as you mentioned.The first one is around design. So there's actually some data that supports it, but it's a little bit of common sense that great design is going tohelp you close your deals. You but it is. You'd be surprised howmany times sales leaders or sales reps may say like wow, does it reallymatter? I mean we've got a one page or it looks fine, it'syou know, I did it in word or whatever. But actually, ifyou take the branding and all the work that you're marketing team puts into yourwebsite and the whole customer journey and apply it to your proposal, it canreally stand out and make a difference. So that's the first point. Thesecond point is around video. So basically...

...using video in your proposals now isa great way to stand out from the competition. It helps you be ableto address people who weren't involved in the sales process. It might be likeyou're the CEO who's making the final decision didn't want to be part of allthe discovery calls. You can actually create a video addressing the CEO, understandingtheir pain and bed that right in your proposal. The Third Way is basicallyjust keeping your closing document short and sweet. Sometimes we see proposals that are likethirty, forty, fifty pages and and contain tons of information. There'sactual data set to suggest that around seven or eight pages is actually correlates toa higher close rate. So I think the idea is you want people toreally read this, even though they're going to scan it to a certain degree, the shorter the better, and make sure it's organized into into clear sections. The fourth point, is really more around the productivity side, or theworkflow side of it, is that a lot of times people get into troublebecause they keep copying and they keep duplicating old proposals and changing the info,and often that works tons of errors into... There's actually a much betterway to do it, which is just to always work off a master proposaltemplate and then when you need to make changes to it. You can dothat, but sort of have your marketing team essentially manage and keep track ofthat master proposal. The fifth one is about time kills deal. So peopleare used to this. When you you know, we talked about chat onon websites. Like if somebody reaches out for a demo or somebody reaches outto ask a question on your chat widget on your website, we know thatif you keep them waiting a certain amount of time, you just going toyou're going to drop the amount of leads. Well, the exact same thing istrue with proposals, like if you make a customer or a prospect weightlike two weeks for a proposal or even a week, there's that kind oflike buying state where people are hot, they're ready to buy, they're interestedand if you let too much time go by they're just going to go elsewhereor they're not. It's not going to be a priority anymore. So timekills deals. The fast you can get that proposal to them, it's goingto correlate to a higher close rate.

The six point is just about monitoringhow clients interact with deals. We actually found a crazy stat you would thinkthat the more prospect looks at a proposal, the more interested they are and maybethe more willing there to buy. But our data suggests that actually passedabout three views. It correlates to a lower close rate. So it's actuallytwo. Two views is about the sweet spot. The thing we infer thereis that you know, if you keep looking at it, you keep openingit, maybe there's something you're unsure about or you're kind of on the fence, whereas if you kind of you've already agreed or you've already made up yourchoice, sorry, made up your mind, then you don't need to look atit as much. The seventh point that we found was that renaming yourpricing section your investment actually correlates to a higher close and so our hypothesis thereis that the way you position your pricing to your buyers is really important,and if they look at it as a cost or something that's not necessarily addingvalue, it's like, Oh, I...

...have to come up with this cash, it just creates it paints a different a different positioning in them, inthe minds of the buyer. So painting it is your investment is sort oflike you're putting this money in but you're getting value out on the other end. And then the eighth point we found was just make it really easy forclients to sign off on your team's deals. We found the e signature significantly improvesthe close rate. So not just the time to close, but actuallymore people are willing to buy if they don't have to sign at the oldway, which, you know, print it out, sign it, scanback a picture kind of thing. So those were the eight action items fromour state of proposals to help dominate your deals. Awesome, and I'll justrecap them because I took some nuts. First of all, everybody. NumberOne, great design makes you money. Number to, use video in yourproposals if you can. Number three, keep your closing doc short and sweet. Number four, work off a master proposal template. Number five, displaysense of urgency. Longer it takes, the less likelihood you are to closethe deal. Number six, actually, the more they open that email,the more they interact with the proposal.

Is Not necessarily a good thing.We're looking at two views as the sweet spot, based on propose of fiesresearch. Number seven, this was a good one. Rename your pricing sectionyour investment instead of pricing, call it investment, so that people understand that'swhat they're doing, which is, of course true. And Number Eight,make sure you're using a signature. It is the year two thousand and twentyone. I personally don't even own a printer anymore, which is my bad, but it's just evidence of how important e signatures are. Kyle, itwas great having you on the show. Remind us of folks want to getin touch. What's the best way? Yeah, thanks for having me onthe show, Sam. People can get in touch through linkedin. They justsearch Kyle Racky Orecki, or they can check out the website. Propose afive PR o posifycom if they want to check out the product, or shootme an emails. Just kyle a propos of FYCOM. Awesome. If folkswant to reach out to me, you can linkedincom for slash the word inform. If Jacobs, of course, you can always email me, Samat Revenue Collectivecom. I'll even say you can text me n seven, seven, zero, hundred two, three,...

...five eight. Will See if anybody'slistening. Kyle, thanks so much for being our guest. It was greathaving you.

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