About the episode
Christopher Engman, the CRO/CMO for Proof Analytics, and the author of "Megadeals". He talks with Joe about the connection between sales and marketing, the importance of communication, and how to drive growth.
About the Guest
Christopher Engman - Author Megadeals, Investor in Martech/Sales tech- and Sustainability scaleups, Proof Analytics
What is a Megadeal?
A Megadeal has four core attributes:
- A deal size from 10 MUSD to 15 BUSD (could be larger but we haven’t found one)
- High to ultra-high complexity (not just in terms of the solution, which is often written about in sales books)
- The deal often contains a mix of hardware, software and services
- Change management is involved
Some of the main insights:
- If your offer does not align with your customer’s key initiatives, it is almost impossible to find the money for your megadeal.
- Without an understanding of or the ability to influence the ecosystem around the deal, you will not close the deal. In most cases, there are more than 100 relevant stakeholders.
- Megadeals per definition involve a lot of risk. The ability to control and mitigate those risks, rather than just maximizing the upside, is a key capability - and it is barely discussed in most sales and marketing literature.
- For a deeper dive, attend a Megadeals seminar, 2-day training or read the book.
Because of their size, scope, complexity, and status, megadeals are deeply meaningful to the megadealers behind them. They present an opportunity to change the world for the better on a massive scale.
Proof (www.proofanalytics.ai) answers three of the main questions CEOs, CFOs, CROs, and CMOs have about their go-to-market work.
1. How should we balance the costs between marketing, PR and sales?
2. Which of my marketing categories should we increase, decrease, add or take away?
3. How do the various marketing and sales activities contribute to revenue, profit, and cash flow?
Proof bridges the ROI gap between CMOs and CFOs, delivering cause-and-effect analytics that show the business impact and financial value of marketing and sales.
About Raven360 - Training-Led Growth
There are products like yours that solve really tough problems and you may have got users searching for solutions to these problems but, when users don't know how to use your product to its fullest extent and get the maximum value out of it, they churn. At Raven360, we believe in creating product experts and that's the reason why we are providing product training for the users.