Enterprise sales is undoubtedly a hard nut to crack. But if done right, it can augment your business revenue.
Besides, there are even possibilities of repeat business and high-quality referrals that can acquaint you with lucrative opportunities.
Moreover, working with well-known clients can also bring credibility that can lead to better things.
Businesses can easily trust you when they see the testimonial from renowned enterprises.
Yes, you’ll find many hurdles on the path while selling to enterprises, but a firm determination and constant hard work can lead you to success.
“Success is the sum of small efforts repeated day in and day out. – Robert Coller
Selling to a large enterprise is a different game. It is essential to know the rule of the game to win it. One must expect a long journey while selling to a large enterprise.
Persistence and calmness are two essential traits needed during enterprise sales, as there are chances that the deal might fall apart at any stage of the sales prospect. There can be many reasons for the loss of sales, like the person you are coordinating with might leave the company, sudden changes in the economy, change in priorities, etc.
However, you shouldn’t be demotivated, or else it might affect the next deal as well. You need to be very confident while communicating with big clients. If they smell nervousness or risk, they might lose interest.
“Success is the sum of small efforts repeated day in and day out. – Robert Coller
The world of large enterprises is different. Before approaching them, it is essential to be sure that you have a solution that can benefit them.
Here is the checklist for selling to large enterprises.
Closing enterprise sales requires a lot of time and effort. It won’t happen in one or two calls. So you need to pursue it with unwavering determination. Large contracts consume more time as the prospect usually don’t have enough time.
They might not receive your call or respond to your emails, but that doesn’t mean they aren’t interested in the solution. Only through constant follow-up, such big deals can be pushed ahead in the sales pipeline.
“44% of sales reps give up after one follow-up.”
Don’t make this mistake of not following up with the prospect. Due to high pressure and several lucrative deals in the pipeline, there are chances you might forget to follow-up. However, there is a solution for this as well.
If you are using an advanced CRM, then well and good. If not, then opt for one of the modern CRM that allows you to automate your follow-up. For instance, Stalemate CRM enables you to create a sequence of emails to follow-up with your esteemed clients in real-time. By automating your follow-up, you can save a lot of time and prevent big deals from slipping through the crack.
Impressing large enterprises is no easy task. Besides, it is challenging to connect with an influential person from the company. Once you manage to connect, you cannot let go of that opportunity. So make sure you research before dialing the prospect’s number.
Study the prospect’s company website thoroughly. Go through press and media release pages.
Take the help of quora to understand what your prospect is hoping to learn. There are chances that the prospect might have posted a question regarding a challenge the company is facing. If you offer some tips during the call, the prospect will surely be impressed.
“When reps take the role of a curious student rather than an informed expert, buyers are much more inclined to engage. – Jeff Hoffman
Nowadays, reviews about enterprises in easily available on the internet. You can refer to those reviews to see what the customers feel about the enterprise and its product. This helps you in finding out the prospect’s strengths and weaknesses.
Besides, even social media sites like LinkedIn and Twitter can help. If you find any mutual connection, you can connect with them to gather more information about the prospect.
A healthy relationship is the cornerstone of enterprise sales. So invest some time in establishing a healthy relationship with the prospect. Try to strike a meaningful conversation and build a good rapport.
Ask relevant questions to discover the business pain points of the prospect. Adapt the consultative selling approach and guide the prospect rather than selling them a product. Paint a positive picture by demonstrating interest in helping the prospect solve a specific business issue.
Enterprises want to see proof. Potential buyers from large enterprises don’t want to know what all your product can do; they are interested in seeing how impactful the product has been in the past. They want to know the views of the customers who have already used the product. Has it helped them? If yes, then how? What difference did they experience after using your product?
Give real-life examples by sharing case studies of your satisfied customers. Help them visualize the benefits your customer received by using your product. Focus on numbers. For instance, X company could increases sales by 30% by implementing your solution. Try to gain your prospect’s trust and confidence.
Use the medium of a cold call and cold email to reach your potential customers. For effective outreach, make sure you call and email your prospect at the right time.
Take the help of a smart queue if you’d like to save time while making cold calls or sending sales emails. You can easily organize and prioritize your work. All you need to do is plan your activities for the day and create smart queues. The tasks will run one after the other, taking away the manual effort from your routine.
Prospects from the enterprises are smart and well-informed. They cannot be tricked into buying something. They have good knowledge of the market as well as your competitors.
So do not say long tales or make fake promises to sell a product. Enterprises have a huge network. If they have a negative experience, they will share it on their social networking sites. As we all know, negative feedback spread like wildfire. So, do not take the risk and make commitments you won’t be able to keep.
Just because you are pursuing a big company doesn’t mean you cross the line when it comes to pricing. If the product isn’t worth the high price you’ve quoted, then the prospect will show no interest.
Even reducing the product price to sell won’t help. A very low price might create suspicion about the quality of the product.
So to be on the safer side, offer your product at a price of what it is worth.
A prospect from an enterprise will research before making any buying decision. Prospects tend to compare the products.
So, while interacting with the prospect, try to earn their trust and draw their attention to your product’s strengths. Explain how your product is different from the competitors. Try to use your USP smartly. For instance, your competitor offers the same product at a low price. So, you can speak about the features that you offer, and the competitor doesn’t. Highlight the more benefits that the prospect will receive on using your solutions instead of the competitor’s product.
Do not argue, but try to negotiate confidently. Be like a fearless warrior and try to lead the negotiation. Take charge of the negotiation and drive it in the direction you want.
Keep your mind calm to ensure you do not take a desperate step in the heat of the moment that you might regret later.
Even think about the prospect. Try to understand and address the prospect’s concerns. Try to come to a conclusion that’s beneficial for both and close the deal quickly.
Getting the signature of the prospect isn’t the end of the road. Focus on maintaining relationships even after the sales.
Keep coordinating with your customers. Take their feedback. Find out if they are facing any trouble using your product. Resolve their issues in real-time.
“Courteous treatment will make a customer a walking advertisement” – James Cash Penney
With the right approach and determination, it is possible to sell to large enterprises. All you need to do is stay focused and do everything it takes to convert a prospect into paying customers. Keep yourself update with the latest trend. Use modern sales tools to manage large companies.
An advanced tool like Salesmate CRM can help you in managing enterprise sales. With this advanced tool, you can gain control over the sales and manager you deal with efficiently. With its automation and insightful reports, you can save a lot of time and improve your productivity.