3x Growth in Million-Dollar Deals for a Fortune 50 Client copy
CXO Sales Playbook-Venkat’s Blog

3x Growth in Million-Dollar Deals for a Fortune 50 Client

- Venkataraman Subramanyan

In the second year of our collaboration with a Fortune 50 client, we set an ambitious goal: double their number of million-dollar deals.

The conventional approach to achieving such growth often involves pushing people and customers.

How do we push our people hard?

How do we make them work harder?

How do we push customers to give us more business?

If we ask our people to jump to the moon, maybe they will go ahead and jump and land somewhere in between.

However, under this kind of pressure, most salespeople lose their motivation for the jump even before they start.

Today, let me show you ‘behind the scenes’ of how we transformed our clients’ sales culture to exceed targets and almost 3x their million dollar deals, taking the tally from 24 to 65.

Let’s get started.

Key #1 – Sales Managers as a Fulcrum for Change

The sales managers were traditional in their management approach – “I tell you what to do, and you do it”

We found that this created a lot of pressure in the system, people were frustrated, anxious and heading towards burnout.

The shift is to equip your sales manager to move from telling and giving orders to coaching, which is the art of asking questions to help team members discover and commit to their own latent potential.

This enabled them to slow down.

Slowing down so that they could achieve more, appreciate people better, elevate their potential, and cultivate a high-performance mindset.

This shifted the entire trajectory of commitment and results across every salesperson.

Key #2 – Strategic Focus: The Art of Qualification

There is a saying, a person who defends everything, defends nothing.

So as you think about your pipeline, do you rigorously qualify the pipeline to shortlist the specific opportunities that you need to focus on?

Remember, activity doesn’t always equate to progress.

When you focus,

  • You’re able to elevate the quality of conversation with your customers.
  • You’re able to bring quality into the interaction with your teams.
  • You’re able to grow deal size and increase the win rate.

Key #3 – Relentless Customer Obsession

It’s not about showcasing your expertise; it’s about amplifying your customer’s achievements.

It’s not about you and your smartness, it is all about the customer and their greatness.

The conversation should focus on the customers’ growth, their innovation and their market share. It’s all about them. They are your client and you their champion.

This multiplies your deal frequency and size because your customer feels they are getting much more than they are paying for.

Key #4 – Risk as a Lever for Acceleration

Think consciously about the kinds of risks that your customers are facing now, and will face in the future.

Your sales process is the systematic elimination of customer risk.

So how are you ensuring that you’re able to understand your customer’s risks?

How are you able to mitigate all of those risks?

Strategic. Operational. Financial. Innovation.

When you associate your solution with the removal of risk, your customer agrees to larger and faster deals.

At the start, their average was 24 million-dollar deals per year.

In 9 months, the tally for the year stood at 65.

Almost 3x.

A testament to the power of our strategic frameworks, their discipline, and their consistent execution.

*** 

If this was helpful,

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venkataraman-subramanyan-tripura-multinational-corporate-sales-coaching-author-singapore-india
Author:

Venkataraman Subramanyan is a Global Leadership Development Expert & Sales Coach. He is the Founder and CEO of Tripura Multinational. Venkat’s mission is to touch and transform a hundred million lives by 2025, and a billion lives by 2030. With over 30 years of experience, Venkat is passionate about 2 things – Leadership Transformation and Sales Acceleration. His trademarked deal qualification framework is licensed worldwide by organizations and filters over $3Billion in deals annually. He is an accredited member of the Forbes Coaches Council.

Tripura Multinational is a dynamic sales organization dedicated to empowering sales professionals and organizations to achieve unparalleled success. Originally established as a platform to address skill gaps in the sales industry, Tripura has evolved into a multi-faceted entity that offers comprehensive engagements for Sales Managers and Sales Leaders. Through the transformative power of Sales Coaching, Tripura enables sales organizations to elevate their performance from good to great and ultimately reach a world-class level. Our approach focuses on optimizing sales skills, management expertise, and leadership capabilities, helping clients plan more effectively, qualify leads better, orchestrate sales processes seamlessly, and expand their business with confidence. 

Our organisation is the trusted choice of market leaders across various industries and segments, relying on our expertise to elevate their performance to new heights. Recognized for our ability to enhance excellence, we are entrusted with the task of making the client’s best even better.

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