How to 4 x your Average order value!

This episode features a deep dive into the evolution of sales, highlighting key shifts and future trends, with insights from Mike Slater, an Operating Partner and CRO at Carlyle European Technology Partners. Drawing on nearly 30 years of experience, including senior leadership roles at Software AG, Sarala, and SAP, Mike emphasizes the foundational training received at Compuware as crucial to his career. He now advises private equity firms on scaling go-to-market engines from marketing to sales execution, stressing the importance of adaptability across diverse global cultures.

The discussion covers three critical areas for modern sales success: firstly, the necessity of having clear strategies for where to place your bets, constantly building pipeline, and excelling in deal execution. Mike highlights that sales cycles are far more complex today, with decreased customer responsiveness, information overload, and increasing pressure to achieve more with fewer resources. He stresses that value-based and ROI-driven selling are no longer differentiators but absolute necessities, as buyers now expect personalized experiences and detailed business cases.

Secondly, the conversation delves into leveraging AI in sales. While AI can significantly reduce the burden of research and enhance account planning, Mike cautions against relying solely on it. He believes AI is not yet personalized enough to fully replace human emotional intelligence and the nuanced art of sales. The danger lies in salespeople becoming 'lazy' and not internalizing the insights AI provides. The best salespeople, or 'A-players,' will be those who effectively utilize AI tools to cut through noise, identify red flags, and pinpoint optimal opportunities.

Finally, the episode touches on best practices for driving playbook adoption and achieving execution excellence. Mike advocates for co-authoring playbooks with sales teams to foster ownership and emphasizes 'less is more' – focusing on 1-2 impactful changes. Consistent communication and reinforcement are vital, as messages often require multiple repetitions to truly land. The core disciplines for strong deals include engaging the right decision-makers, ensuring they believe in the value of the solution (quantified by a robust business case), and mutually agreeing on clear closing processes and timelines. Mike shares how adopting these disciplines led to a six-fold increase in average deal size in a previous role, underscoring that rigorous execution and a deep understanding of customer pain points are paramount. He concludes by stressing that while AI will become standard, human application and ethical considerations will remain the ultimate differentiators in a sales landscape increasingly driven by data.