Joshua Feinberg discusses strategies for a data center relocation company to close more deals.
He emphasizes understanding where deals are getting stuck in the sales process, ensuring product-market and go-to-market fit, and maintaining consistent hiring, onboarding, and coaching processes.
He suggests leveraging client testimonials and case studies to build trust with prospects.
Feinberg also recommends fostering relationships with channel partners, such as data center commissioning and decommissioning companies, and capital investment firms, to generate referrals.
Events like webinars, panel discussions, and social gatherings can help prospects meet satisfied clients, enhance the company's reputation, and close deals more effectively.
This video is excerpted from the podcast Ep. #73 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast.
Action Items
- Analyze the current deal pipeline to identify where deals get stuck in the sales process.
- Evaluate if the company has achieved product-market fit and go-to-market fit.
- Develop a plan to showcase client testimonials and case studies to prospects actively.
- Organize an event or roundtable discussion to facilitate interactions between clients and prospects.
- Explore potential partnership and referral program opportunities with adjacent businesses in the digital infrastructure ecosystem.
Outline
Understanding the Challenge of Closing Deals
- Joshua Feinberg addresses the core question: how can a data center relocation company close more deals?
- He suggests that the issue might be in the deals board, where opportunities are not closing despite sound lead generation.
- The conversation focuses on the deal stages in the CRM and the need to understand where deals are getting stuck.
- Joshua emphasizes the importance of sales acceptance and qualification of leads before they enter the pipeline.
Identifying the Sales Process Bottlenecks
- Joshua discusses the need to understand the sales process and the stages a deal goes through.
- He questions whether the company has product-market fit and go-to-market fit.
- The conversation covers the ideal client profile, buyer personas, and unit economics.
- Joshua highlights the importance of having a consistent hiring, onboarding, and coaching process.
The Role of Product-Market and Go-to-Market Fit
- Joshua explains the significance of product-market fit and go-to-market fit for a company's success.
- He mentions the need for high confidence in what is working and what is not.
- The conversation touches on the importance of a consistent hiring and onboarding process.
- Joshua notes that self-propelled buyer journeys are less common in data center relocation compared to other sectors.
Leveraging Client Testimonials and Social Proof
- Joshua suggests getting prospects to hear from the company's best clients can help close more deals.
- He recommends using case studies, testimonials, and events like webinars or in-person meetings.
- The conversation includes examples of successful events, such as renting a suite at a sports stadium or hosting roundtable dinners.
- Joshua emphasizes that client testimonials are viewed as more trusted than sales team statements.
Building Channel Partnerships and Referrals
- Joshua discusses the potential of building formal channel partnerships and referral programs.
- He mentions various channel partners, including data center commissioning and decommissioning companies.
- The conversation covers the benefits of partnerships with construction, real estate, and capital investment firms.
- Joshua suggests using podcasts or interviews to build relationships and share best practices.
Clarifying Deal Stages and Cross-Pollinating Social Proof
- Joshua reiterates the importance of getting clarity around the deal stages.
- He emphasizes the need to cross-pollinate social proof between clients and prospects.
- The conversation highlights the role of adjacent businesses in identifying potential data center relocation needs.
- Joshua summarizes the key points and the importance of a structured approach to closing more deals.
Resources
Watch the full podcast Ep. #73 Joshua Feinberg, CEO of DCSMI | Data Center Go-to-Market Podcast
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