Sales is a process, not an art form, delegates at the 2024 Proptech Forum were reminded by ProptechGuru founder, Mark Hollands.
In a lively roundtable discussion, Hollands addressed the critical question of when proptech founders should transition from selling their product or service to establishing a dedicated sales team.
While acknowledging the inherent ability of founders to champion their own products and services, attendees recognised the inevitable need for dedicated salespeople as businesses matured.
Hollands highlighted several key indicators that signalled it was time for founders to step back from the sales frontline. As proptech businesses grow, founders often found themselves facing less time to dedicate to crucial strategy and product development.
This could lead to missed opportunities as leads would be overlooked and enquiries didn’t receive the necessary attention. Furthermore, retention challenges would arise as client relationships suffer from the founder’s increasingly limited availability.
These combined pressures signal the need for founders to transition away from direct sales and invest in a dedicated sales team.
Drawing on his experience as former Sales Director of Dow Jones, Hollands advised a cautious approach to building a sales team, recommending telephone sales as a cost-effective starting point. He outlined the ideal candidate profile. The ideal candidate for a proptech sales role, according to Hollands, possesses a robust blend of skills and experience. They have a solid understanding of the proptech sector and a strong network of industry connections.
Client-centric and with strong product acumen, they should be able to easily grasp the product’s value proposition and effectively communicate its unique selling points. This individual would also a collaborative team player, willing to seek help and guidance when needed, but also results-oriented and driven to close deals.
Crucially, they needed to possess a proven track record of sales success, demonstrating their ability to deliver results.
The roundtable also explored the challenges of “solution selling” in a time-pressed environment where prospects often default to brief “features and benefits” pitches. He reassured attendees that while unearthing a prospect’s business issues can seem daunting, the vast majority of necessary information is readily available in the public domain, particularly on company websites.
Hollands advocated for a “5 Cs” approach to crafting effective sales messages. In this model, clarity is paramount, ensuring the product or service is easily understood by all. Concise messaging, with a succinct and persuasive core, was crucial for capturing attention. To be compelling, the sales pitch must align with the prospect’s business objectives, offering a strong argument for adoption. Credibility is established by balancing the solution’s potential with demonstrable client success stories. Finally, the solution should be positioned to resonate with the concerns of “C-Level” executives, addressing the needs of top decision-makers.
Hollands emphasised that building a successful salesforce requires focused management, particularly around messaging, to avoid costly failures.
Hollands, who also served as Vice-President at Gartner, concluded by offering his expertise to any proptech founder looking to establish or refine their sales structure.
