Udi Ledergor 🏳‍🌈’s Post

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Chief Evangelist & former CMO at Gong, Board Member, Advisor, Investor

I took 53 Gong customer calls with marketers in the last 3 weeks. One of the best marketing use cases I shared with customers is tracking competitor deals and how they play out in different opportunity stages. Fun fact: Despite reps freaking out when a competitor is mentioned by a prospect, this is actually a GOOD sign that increases likelihood of the deal closing. Why? Because a buyer who mentions a competitor is well-informed on your space. They took the time to educate themselves on the top 2-3 players and will most likely buy from one of them. BUT... there's a catch :-) This dynamic reverses in late deal stages: if a buyer talks about your competitor at a late deal stage, it might indicate that you failed to articulate enough value to justify your price point and the buyer is looking at other players for a better offer. Gong surfaces these late deal-stage competitor mentions as actionable deal warnings. You can easily measure your win rate against each competitor AND against no competitors (deals lost to the status quo, AKA "no decision") using Gong: Go to Deals tab --> Analytics --> Win/Loss. What surprise did you discover about your competitive landscape?

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Luke Woodruff

Accelerating Enterprise Growth through Strategic B2B Sales

2w

Love this! As a seller, when I hear of competition in the mix, this is actually a good thing. But Udi Ledergor 🏳🌈, you are missing one other key piece of information here that has a HUGE impact. And that is whether or not you/company are the FIRST vendor to be approached or have communication with the buyer. Data shows that some ~80% of opportunities that are won, are with the first vendor a company speaks with. Would be curious to see how this Gong data fluctuates when a vendor is first to the conversation over competition, or middle/last to the conversation with competition and how that could have an impact on deal size/late stage negotiations 🤔

Daniel Kish

Product Marketing at Conveyor | using AI to accurately answer any security review or RFP question

2w

love this! for extra cherry bonus points, the amount (or ARR) field generally changes over time as the deal progresses and reps adjust price expectations you can plot that change vs win rate and quickly find yourself with a Sunny Huang-special-2-by-2-matrix of who's consistently good at "selling on value" vs. "selling against the competition" vs. getting lucky with high WTP customers (also in theory economic conditions affect everyone equally so you can pretend it doesn't exist)

Jordan Benjamin 🧘

I Help Sellers Crush Quota Without Burnout | ex-HubSpot | 🎙 Peak Performance Selling Podcast

2w

Making this type of intelligence easy to access is so powerful. Sellers when they hear competitors should get excited because it also shows some level of trust that the buyer isn't hiding their research, their process and what they're considering. Gotta watch out for evilcorp 👿 😂

This is gold Udi Ledergor 🏳🌈. I still think the silent killer of "stay with what we have" is the most valuable intell to try to uncover. If left unasked, it can be the easiest option for the buyer.

Alex Belov

Superior WordPress Maintenance & Services: 3k Successes in a decade. Your Success is the next one | Podcast Host | Creator of Fitness & Health marketing tool “Calorie Calculator Cloud"

2w

Interesting insights, Udi! Did you find a single practice that increased your win rate across all competitors?

Lukas Rogvall

CRO/Experimentation Ultra-nerd | 10+ years of optimizing E-commerce | SaaS enterprise sales | Don't be a stranger

2w

Very interesting subject! I really feel that the mention of a competitor signals that the company takes the procurement seriously and are investing time into their consideration. Even though this of course decreases my chance of winning the deal - it still means that I can put more focus into the process since I know that a decision will be made.

Kate Maguire

Account Executive @ Gong | Revenue Intelligence | AI

1w
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Rasmus Leth Skjoldan

Chief Marketing Officer @ Hello Retail

2w
Samantha Levine

Account Executive at Gong | Unlock reality

2w

Nick Breisch good read!

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