Skip to the main content.
Contact Us Online Learning
Contact Us Online Learning

2 min read

Demofest 2024: Embracing the Competition with Eoin Kavanagh

Demofest 2024: Embracing the Competition with Eoin Kavanagh

Who is Eoin Kavanagh

Lead Sales Engineer at Gong and Creator of Demo Persona

Eoin Kavanagh, Lead Sales Engineer at Gong and the brains behind Demo Persona, challenged traditional views on the role of competition in the sales cycle at Demofest 2024. Motivated by the magic of sparking "ah-ha" moments in customers, Kavanagh's enthusiasm for sales and presales is infectious. With two President's Club achievements and several other awards spanning his presales career, Kavanagh emerges as a leader in presales thought and strategy. 

 

Competition in Deals

Seize Every Opportunity

Kavanagh started his session by addressing a critical issue: the decreasing number of buyer-seller interactions and the increasing competitiveness of deals. A recent study from Gong reveals a significant insight – 54% of revenue leaders report that their deals are more competitive than the previous year. This shift signals the importance of each interaction and the necessity for presales teams to seize every opportunity to engage with buyers.

He also states, "You need to expect your competition to come up." Stressing the importance of preparing for these encounters, Eoin advocates for a proactive approach to competitive enablement.

The Psychology of Competition

Why the Competition is Brought Up

Why do buyers bring up competitors? Kavanagh proposed that this behavior is rooted in human psychology. He cited how people often react defensively or aggressively when a competitor is mentioned, rushing to assert their product's superiority. But Kavanagh advocates for a more thoughtful approach. Pause and explore the underlying reason behind why the competition is being mentioned. It changes how sales and presales teams address these situations; moving from a reactive to a strategic stance is more likely to resonate with buyers.

Competitor Mentions Can Increase Win Rates

Leverage Competitor Mentions

One of the most shocking insights from Kavanagh's presentation was the potential positive impact of early competitor mentions on deal outcomes. Gong's data shows that when competitors are brought up in the early stages of a deal, win rates can increase by up to 32%. By contrast, later-stage mentions tend to decrease win rates by 5%. These stats show the tactical advantage of understanding when and why competitors are mentioned, enabling sales and presales teams to tailor their strategies accordingly.

In our Discovery2Win workshop, we teach students to use the CDIM™ framework. This framework can help you stay on track even when your competitor is mentioned. With the CDIM™ framework, you gain the skills necessary to understand specific buyer motivations and communicate your unique differentiators using language that will resonate best with the buyers. 

The Takeaway

A Strategic Shift in Perspective

Eoin Kavanagh's presentation at Demofest challenged conventional thought around sales and presales approach to competition in presentations. By considering the buyer motivation to mention competition and reverse engineering to reflect a shift towards competitor mentions at the beginning of presentations, teams can enhance their ability to navigate complex sales. Kavanagh's expertise, backed by Gong data, equips teams with the knowledge to turn potential pitfalls into opportunities, leading to better outcomes.

Want to stay ahead of the competition? Check out our presentation on how to build a winning automated demo video.

Crafting winning automated demo videos

Accelerate your Deal Velocity with a Modern Demo Process

Accelerate your Deal Velocity with a Modern Demo Process

Accelerating your deal velocity requires a modern demo process. Read on to learn how you can accelerate your deal velocity with these tips from Bob...

Read More
Why a Winning Demo Comes Down to 2%

Why a Winning Demo Comes Down to 2%

What do the modern Olympic games and winning sales demos have in common? 2% That is the statistical difference between the average Gold Medal and...

Read More
How to Use Your Education Benefit for 2Win’s Training Programs

How to Use Your Education Benefit for 2Win’s Training Programs

How to use your education benefit for 2Win’s training programs is a step-by-step guide to requesting reimbursement for training.

Read More