31 Jan 2023
Great post - I've done this a couple times on some of the largest deals I closed. But I should do it more consistently. It should become part of a normal Enterprise Sales procedure.
A top-performing Enterprise rep from Salesforce told me her top strategy for getting & keeping an Exec's attention.
It's spending 15 minutes looking at a 10-K.
Doesn't even have to be theirs (!!)
Here's why.
10-K's tell you 3 things that either your Prospect, OR their Top Competitors are focused on:
---> Their Key Initiatives
---> Risks to their Business
---> What they Plan to Spend Money on
Even if the company you're talking with is private, you can still use a 10-K.
How?
Read their Competitor's 10-K.
Everyone wants to know what their competition is doing.
Here's how to find it:
--> Google this: "(company name) competitors"
--> G2 also has Top 10 competitor lists for SaaS
--> Pick 1-2 of their competitors & scan the 10-K*
Using this info sounds like -->
"Saw {your biggest competitor} just announced record-breaking growth in sales & revenue. And that they're focused on going after SMB companies. Also making strategic investments in sales & marketing tools. And that risks around X,Y,Z are top of mind. Curious to what extent your strategies & risks are similar?"
*Where to find a 10-K:
--> Go to Company's website
--> Then Investor page
--> Find the PDF link
How to get what you need in 15 minutes:
--> Ctrl + F for words like "risk", "initiative" / "strategy", "invest in"
--> See link in the Comments to SalesHacker article for more details
--> Also, Google/news & Seeking Alpha: summaries of analyst comments
WHY it gets and keeps an Exec's attention:
--> In their 10-K, it's their Risks, Strategies & Plans
--> If it's their competitor's, it's good intel
--> Either way, shows you've prepped
Execs want to talk about their Risks, Plans & Market Share.
Not your company or product or what it does.
Executive conversations win deals.