SaaStr Explains Difference Between Good And Great Sales Executives
Great sales executives close more deals and generate more revenue than good ones, according to SaaStr. This difference in performance is due to several key factors.
Original reporting · saastr.com
Original: “Dear SaaStr: What is the Difference Between a Good Sales Exec and a Great One?”
Read “Dear SaaStr: What is the Difference Between a Good Sales Exec and a Great One?” at SaaStr →How this was written. Awesome B2B wrote this article with a language model from SaaStr’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from SaaStr’s report
- Great sales executives close nine times more deals than poor reps and 2.5 times more than decent mid-pack reps, according to SaaStr.
- The best reps are able to close larger deals, discount less, and close deals faster than their less successful counterparts.
- Great sales executives listen to their prospects, understand their needs, and act as mini solution architects to help them find the best solution.
- Great reps are fluent and honest about the product and the competition, which helps to build trust with the prospect.
- Great sales executives create urgency by adding value to the sales process, rather than simply pushing for a sale.
The gap between a good sales executive and a great one is significant, with great reps often closing nine times more deals than poor reps and 2.5 times more than decent mid-pack reps, SaaStr reported. This disparity is due to several compounding factors, including the ability to close larger deals, discount less, and close deals faster. According to SaaStr, these factors combined pull great reps far ahead of the pack. The best reps are able to achieve these results with the same number and quality of leads as their less successful counterparts.
One key factor that sets great sales executives apart is their ability to map the customer's business processes and discover their true purchasing potential, SaaStr explained. By doing so, they are able to close larger deals without ripping off the customer. This is in contrast to mediocre reps, who often rely on discounts to make sales. Great reps are confident in the value proposition of their product and are able to convey this to the customer.
Great sales executives also listen to their prospects instead of simply following a script, according to SaaStr. This allows them to understand the prospect's needs and pain points, and to act as mini solution architects to help the prospect find the best solution. In contrast, mediocre reps often dive straight into their script and fail to deviate from it. By taking the time to understand the prospect's needs, great reps are able to build trust and create a more personalized sales experience.
Another important factor is the sales executive's knowledge of the product and the competition, SaaStr noted. Great reps are fluent and honest about both, which helps to build trust with the prospect. This is particularly important in today's market, where AI is increasingly being used to provide information to prospects. If a sales rep does not know the product better than AI does, there is no reason for the prospect to talk to the human.
Great sales executives also create urgency by adding value to the sales process, rather than simply pushing for a sale, according to SaaStr. This can involve providing additional demos, helping other stakeholders, and getting a trial going. By creating a sense of urgency in this way, great reps are able to close deals more quickly and efficiently. In contrast, mediocre reps often rely on tactics such as sending multiple emails or leaving voicemails.
In addition to these factors, great sales executives also sell to the whole buying group, rather than just the person who appears to be leading the initiative, SaaStr explained. This involves getting buy-in from everyone who matters, which helps to ensure a smooth and successful sales process. Great reps also prepare more for meetings, demos, and calls, and simply do more than mediocre reps. By spending 10 times more time preparing, great reps are able to achieve better results and close more deals.
Overall, the difference between a good sales executive and a great one is significant, and is due to a range of key factors, according to SaaStr. By understanding these factors and implementing them in their own sales strategies, companies can help to drive revenue growth and achieve greater success.
Questions and answers
What is the main difference between a good sales executive and a great one?
The main difference is that great sales executives close more deals and generate more revenue than good ones, due to factors such as their ability to close larger deals, discount less, and close deals faster.
How do great sales executives create urgency in the sales process?
Great sales executives create urgency by adding value to the sales process, such as providing additional demos, helping other stakeholders, and getting a trial going.
Why is it important for sales executives to know the product and the competition?
It is important for sales executives to know the product and the competition because this helps to build trust with the prospect, and is particularly important in today's market where AI is increasingly being used to provide information to prospects.
