It’s time to step up your B2B sales game!
Multi threading is a powerful technique that drives serious results - but it’s not a quick fix.
So, what is multi threading in sales?
Multi threading in sales involves developing relationships with multiple decision-makers that play a role in the buying process.
On the other hand, a single-threaded sales approach centres around a one-on-one relationship between the buyer and the seller - no third parties in sight!
We spoke with Jói Sigurdsson, Founder and CEO of CrankWheel, to distil the seven essential steps for multi threading in sales.
He had this to say:
“Generally speaking, in a small business or startup, you might only deal with a manager and founder/owner. Smaller ticket sales involve less complicated sign-off.”
“Whereas larger ticket sales are more complicated. In mid-market and enterprise companies, you could be aiming to secure the go-ahead from numerous managers, decision-makers and at least one budget-holder.”
Let’s dive in! 👇
1. Qualify on the first call
Hold up! It’s not time to crack open the champagne (yet).
As Jói said:
“Before you put the big deal into the CRM and tell your boss, you need to qualify the opportunity properly.”
So how do you know if this is the right opportunity?
Ask yourself these questions:
- Does the prospect genuinely need your product/service?
- What problems will it solve for them?
- Is there a budget or a possibility of securing one?
- Do they have a realistic timescale for when they would want it implemented?
- Who’s going to be involved in the buying process?
These prompts will help you identify the viable leads on the first call, avoiding wasted time.
Jói added:
“In other words, make sure it’s a genuine, viable lead and they’re ready to progress to the next stages.”
2. Cultivate an internal champion
Want to nudge your chances of closing?
An internal champion is the way to go!
But what is an internal champion exactly?
Jói explained:
“It’s someone who will sell this deal to other internal stakeholders, and will talk about your offer positively when you can’t always speak to the relevant people.”
“This could be the person you speak to on your first cold call or sales demo, so do everything you can to gain their trust and make them a fan of your product/service.”
Establishing a strong relationship early on is vital to gain their support and positive influence.
3. Understand who’s involved
When prospecting to multiple decision-makers, first of all, you need to know who they are and where they sit in a business.
Get a clear sense of:
- Who’s involved and what departments they’re in.
- Who you’ll need to convince.
- Who might be against the project/cause problems.
- Who ultimately decides and holds the budget.
Jói added:
“This is where an internal champion can play such an important role. If you’re unsure of the company hierarchy - ask them! They might have just the intel you need.”
By identifying the key decision-makers and budget holders, you can engage with the right individuals and tailor your approach.
4. Create mutual expectations
Make sure your prospects know what to expect and when you will deliver information.
At the same time, seek realistic timescales and expectations from the prospect.
Jói provided an example:
“If you expect the deal to take three months, you’ll already know in advance and won’t be disappointed or frustrated with the slow progress.”
Drafting a mutual success plan will help to focus minds and get agreement on timelines. This way, everyone is on the same page!
5. Align multiple viewpoints
With multiple decision-makers, internal advocates, stakeholders and budget holders involved, you’ve got to win over numerous viewpoints.
Jói advised:
“At all stages of the process, ask questions and gather as much information as you can. Then, you can proactively put forward solutions that will benefit everyone.”
“In your proposal, answer every sales objection and layout positive reasons why every decision-maker would benefit from your product/service. Use real-world examples from your customer case studies or testimonials, if possible.”
By understanding each decision-maker’s perspective and creating personalised proposals, you increase the odds of buy-in through multi threading in sales.
6. Make it easy to share information
When multiple stakeholders are involved, it’s crucial that they’re all on the same page.
Jói highlighted some best practices:
“Create and send a proposal. If multiple documents are involved, give everyone access to the same shared folder. Keep everyone in the loop. Include anyone else involved on your side too.”
Consistent messaging and open lines of communication are the critical pieces here.
What do they lead to?
More efficient decision-making!
7. Track email and proposal data
It’s helpful to get as much data as you can when prospecting to multiple decision-makers.
What kind of data are we talking about here?
Email and proposal tracking data, such as:
- Who’s opened and forwarded emails
- Who’s looking at the proposal
- How much time they spend viewing it
Sales tools such as Leadfeeder, Proposify or Better Proposals can provide valuable insights for multi threading in sales.
And how exactly does this B2B data help you?
It helps to get the deal over the line!
With the help of this data, you can make informed email and proposal tweaks - hedging the chances of success.
FAQs for multi threading in sales
What is the significance of multi threading in sales?
Multi threading in sales involves engaging with multiple decision-makers and budget-holders in the B2B sales process.
By building relationships and aligning viewpoints, sales professionals boost their odds of closing deals.
What advantages does multi threading offer in sales?
The multi threading sales approach allows salespeople to expand their reach within an organisation - broadening their scope for deals.
Relying on one person provides a single point of failure - you can mitigate this risk through multiple contacts.https://www.cognism.com/b2b-data
Engaging with various decision-makers allows you to understand their unique perspectives and adjust pitches accordingly.
How does multi threading apply to customer success?
Multi threading is not limited to the sales process; it plays a crucial role in customer success.
After a sale, the focus shifts to nurturing relationships within the customer’s organisation.
The aim? Ongoing customer satisfaction!
These healthy relationships enable customer success teams to anticipate challenges, address concerns, and deliver value throughout the organisation.
