Discovery Calls

Before the Discovery Call

Here are the steps to accomplish ahead of the discovery call (with more details):

1. Confirm Scheduled Time 1-2 Days Before
Reach out to the prospect 1-2 days before the scheduled time to confirm and remind them of the upcoming discovery call.

2. Research the Company & People
Find the company’s website and go to their LinkedIn page to research:

• Their business model
• The people that will be on the discovery call (titles/positions, career history, alma maters, etc.)

3. Review Notes from the BDR / Channel Teams or Inbound Form
Make sure to read notes to understand any specific context that is important to an initial call with the prospect. 

4. Review Paystand mission, value proposition and Paystand Story
Make sure that you revise your 30 - 60 secs elevator pitch that reflects the value of Paystand via an intelligently woven story.

5. Review Gong recordings on Discovery calls with similar ICP and Industries
Make sure you listen to the discovery call recordings with a similar buyer profile and focus on industry verticals like solar, healthcare, manufacturing, etc. It is critical to understand the business models of companies in the given industries.

During the Discovery Call

Here are the steps to accomplish during the discovery call:

1. Build Rapport for First 5 Minutes
You should have a few personalized items to bring up specific to their company, location, career history or alma mater that allow you to build rapport with the prospect(s).

2. Tell the Paystand Story
The Paystand story involves explaining the “why” in why Paystand exists as a company and what its mission is. This also includes using the right positioning and messaging. 

3. Identify Their Pain Points and Their Interest in Paystand via the NEAT Framework
It’s critical to let them do most of the talking in a discovery call (aim for ~40% talk time or below) and to steer the conversation with thoughtful questions that allow you to understand what pain points they are experiencing along with what piqued their interest in Paystand. Remember to focus on each letter of NEAT (Need, Economic Impact, Authority, Timeline).

Here is a list of questions to ask during a discovery call:

• Walk me through your customer’s payment journey
• What are your current challenges and how do you want to improve it?
• What’s the most costly expense that you want to remove?
• How do customers currently pay?
• What is the reconciliation process for each payment method? How long does it take? What is your DSO?
• How many people are working on this? Who decides on important decisions?
• If we give your team that time back, what will they work on?
• What kind of timeline are you looking to find a solution?

4. Align the Right Paystand Product and Solution Offerings to Pain Points
Match their pain points with the right product offerings. There’s no need to talk about product features that are not relevant to them.

5. Schedule Demo with Key Stakeholders
Always lock down the next steps and in the case of a discovery call, this means scheduling a demo with all key stakeholders (including the decision maker). 

6. Establish next steps with the Prospect(s)
The subtle step of getting your prospects engaged in the next step discussion goes a long way in putting some responsibility on them to remember and follow through with the discussion points.

• Reiterate prospect’s pain points so that you haven’t missed any critical points
• Schedule a demo - confirm and set up a date and time
• Confirm who will be participating in the demo call; any buyer or user profiles need to be included
• Remind the prospect that you’ll be sending the recording if they want to share with any team member (crucial decision maker)
   

After the Discovery Call

Here are the steps to accomplish after the discovery call:

1. Send the Calendar Invite for the Demo and a Follow Up Email
Send a calendar invite for the scheduled demo call along with a follow up email. Follow up emails should: 

• Answer any questions the prospect(s) had during the discovery call
• Include any relevant resources (case studies, blog articles, etc.)

2. Review the Call in Gong for Key Notes & Insights
Log into Gong.io and review the call. Look at your interaction statistics and identify what to work on in future discovery calls. Share the gong recording with them directly via the share button at the top so you can track once they view. Change the share time from 5 days (default) to 30 days before sharing. 

3. Update Related Fields of the Deal and Set Reminder Tasks in HubSpot
Update all the related fields from the meeting, correct inaccurate information (if found) through the discovery call, fill the deal properties as much as possible from the data gathered from the meeting. For example - SAL?, Stage, ERP, Phone number, Product Modules, Confidence level, Next step, etc.
Please refer to CRM Hygiene, and required fields.

4. Add General & NEAT Notes to the Hubspot Deal Pinned Note
The Paystand Sales team leverages the NEAT framework for qualifying sales-qualified leads. There should be a couple key bullet points related to each letter of NEAT. This acronym stands for:

N = Needs
E = Economic Impact
A = Access to Authority

T = Timeline

Additionally, all prospects should be added as contacts tied to the company in Hubspot with their email addresses, titles, updated contact stage and phone numbers.