The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 1 year 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 some time out in the sun. And if not, I'm sorry. We're here and 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 to improve your sales process and close more deals. Now, before we do that, we want to thank our sponsor. Friday fundamentals is brought to you by outreach. Out which triples the productivity of sales teams. That empowers them to drive predictable and measurable refine growth by prioritizing the right activities in scaling customer engagement. With intelligent automation, outreach makes customer facing teams more effective and improves visibility into it really drives results. Now, Kyle, welcome back to the show. Hey, Sam, I'm going to be back. We're excited to have you so today we ask you this. Propose of I has created some research and one of the things that you...

...all have created is eight things to do to improve your sales process and close more deals. So tell us what those eight things are. Absolutely so. This is all taken from our state of proposals guide, which we update every year, and we basically crawl our database of proposals for all this data and insight and then we come up with some 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 to help you close your deals. You but it is. You'd be surprised how many times sales leaders or sales reps may say like wow, does it really matter? I mean we've got a one page or it looks fine, it's you know, I did it in word or whatever. But actually, if you take the branding and all the work that you're marketing team puts into your website and the whole customer journey and apply it to your proposal, it can really stand out and make a difference. So that's the first point. The second point is around video. So basically...

...using video in your proposals now is a great way to stand out from the competition. It helps you be able to address people who weren't involved in the sales process. It might be like you're the CEO who's making the final decision didn't want to be part of all the discovery calls. You can actually create a video addressing the CEO, understanding their pain and bed that right in your proposal. The Third Way is basically just keeping your closing document short and sweet. Sometimes we see proposals that are like thirty, forty, fifty pages and and contain tons of information. There's actual data set to suggest that around seven or eight pages is actually correlates to a higher close rate. So I think the idea is you want people to really 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 the workflow side of it, is that a lot of times people get into trouble because 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 better way to do it, which is just to always work off a master proposal template and then when you need to make changes to it. You can do that, but sort of have your marketing team essentially manage and keep track of that master proposal. The fifth one is about time kills deal. So people are used to this. When you you know, we talked about chat on on websites. Like if somebody reaches out for a demo or somebody reaches out to ask a question on your chat widget on your website, we know that if you keep them waiting a certain amount of time, you just going to you're going to drop the amount of leads. Well, the exact same thing is true with proposals, like if you make a customer or a prospect weight like two weeks for a proposal or even a week, there's that kind of like buying state where people are hot, they're ready to buy, they're interested and if you let too much time go by they're just going to go elsewhere or they're not. It's not going to be a priority anymore. So time kills deals. The fast you can get that proposal to them, it's going to correlate to a higher close rate.

The six point is just about monitoring how clients interact with deals. We actually found a crazy stat you would think that the more prospect looks at a proposal, the more interested they are and maybe the more willing there to buy. But our data suggests that actually passed about three views. It correlates to a lower close rate. So it's actually two. Two views is about the sweet spot. The thing we infer there is that you know, if you keep looking at it, you keep opening it, 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 your choice, sorry, made up your mind, then you don't need to look at it as much. The seventh point that we found was that renaming your pricing section your investment actually correlates to a higher close and so our hypothesis there is 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 adding value, it's like, Oh, I...

...have to come up with this cash, it just creates it paints a different a different positioning in them, in the minds of the buyer. So painting it is your investment is sort of like 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 for clients to sign off on your team's deals. We found the e signature significantly improves the close rate. So not just the time to close, but actually more people are willing to buy if they don't have to sign at the old way, which, you know, print it out, sign it, scan back a picture kind of thing. So those were the eight action items from our state of proposals to help dominate your deals. Awesome, and I'll just recap them because I took some nuts. First of all, everybody. Number One, great design makes you money. Number to, use video in your proposals if you can. Number three, keep your closing doc short and sweet. Number four, work off a master proposal template. Number five, display sense of urgency. Longer it takes, the less likelihood you are to close the 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 fies research. Number seven, this was a good one. Rename your pricing section your investment instead of pricing, call it investment, so that people understand that's what 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 twenty one. 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, it was great having you on the show. Remind us of folks want to get in touch. What's the best way? Yeah, thanks for having me on the show, Sam. People can get in touch through linkedin. They just search Kyle Racky Orecki, or they can check out the website. Propose a five PR o posifycom if they want to check out the product, or shoot me an emails. Just kyle a propos of FYCOM. Awesome. If folks want to reach out to me, you can linkedincom for slash the word in form. If Jacobs, of course, you can always email me, Sam at Revenue Collectivecom. I'll even say you can text me n seven, seven, zero, hundred two, three,...

...five eight. Will See if anybody's listening. Kyle, thanks so much for being our guest. It was great having you.

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