5 Truths About Selling to Large Companies

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What You Need To Know About Selling to Large Companies

Pulling into the headquarters of a large corporation can be an anxiety-ridden event for the most seasoned sales professional. It can be an overwhelming experience when you know that there is a lot riding on the pitch. There is also the added pressure of knowing that you are not the only one pitching your ideas. Instead of letting your nerves get the best of you, there are a few things you should keep in mind when you are selling to large companies.

Selling to large companies is a completely different ball-game than what most sales professionals are used to, but the challenge is deeply rewarding for your company if you can close the deal. Selling to large companies means understanding the rules and pace that they operate in. More importantly, sales professionals must understand how to properly communicate with large companies and learn how to effectively negotiate without getting taken advantage of.

To close the big deal, remember these 5 truths about selling to large companies:

Related Reading : 4 Key Principles of Negotiation in Sales

Large Companies Move Slow

It’s a fact that large corporations have procedures, processes, meetings, and committees and they all have to sign off on the deal before anything can happen. Therefore, you shouldn’t expect the deal or depend on it until everything is finalized and you’ve signed the contract. The worst thing you can do here is to rush them because it shows that you need them, which gives them leverage.

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Large Companies Are Weary of Risk

The problem with companies is that they dislike risk at all. Employees at big companies don’t want to get fired, so no one is likely to stick their neck out for you. Decision-makers who smell risk are likely to cancel everything or ignore you until you get the hint. Present a tight proposal, but don’t show weakness.

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Large Companies Want Turnkey Solutions

CEOs of large companies don’t think like regular entrepreneurs. They don’t care about discounts and would rather see proven solutions. They’ll pay you top dollar just to avoid glitches and mistakes, so don’t cut corners or go the cheap route when building something. Make sure your resources make their life easier. Ensures a flawless execution and you’re likely to win the deal over the competition.

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Large Companies Need Approval From Key Decision-Makers

The goal here is to remember that you’re selling something to a person, not the company at large. They may have to talk to other decision-makers before giving you the contract, but to successfully sell to large companies, you have to focus on a few key individuals that have a great influence on the decision-makers.

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Large Companies Must Trust That You Can Handle the Challenge

Large companies must trust that your business can handle the task. Large companies will seldom work with contractors or businesses who don’t have the capacity to deliver what they need. In order to overcome this objection, show examples of large contracts that your company has handled or references from decision-makers at other large companies.

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Selling to large companies can be the big opportunity your business needs to grow. However, selling to large companies means developing a clear understanding of how they operate and paying close attention to their specific problems. You want to ensure large companies that your business can handle and fulfill their demands. Securing a large contract can be a huge turning point for your sales professionals and can motivate your entire team to take bigger risks.

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9 Elements of a Winning Sales Proposal

Every proposal represents an opportunity to grow your business! After spending years in business and sales, I have seen how the ability to put together a well-crafted proposal is crucial to achieving advancement for yourself and your business.

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Let your audience know what to expect. People generally don’t like surprises, so a brief overview of your key points will be a good start. Remember to keep it simple. It is your job to make it easy for the person reading the proposal to understand the proposal. Don’t put them to the test of doing the work for you, they won’t.

Persuasive Elements

The purpose of a proposal is to persuade your prospect to buy your product or service. To persuade them that your product or service is something they will benefit from and is something they should not live without. Develop material that supports your final objective of getting them to buy your product/service by including statistics, testimonials, references or quotes.

Understanding of the Customer

A winning proposal will overwhelmingly serve the customer. Your proposals message and benefits should be orientated to the audience, company, and industry it addresses. The best way to sell a winning sales proposal is to inform the client of how the benefits would be suitable for them.

Recognize Customer Needs

Whenever you write a proposal, ask yourself: What are the best ways to address the issues and present your solutions? What audience will be reading your proposal and who is the decision, maker? What is important to my customer?

Highly Tailored

Now that you know your customer, make sure your proposal is tailored to that unique customer and their unique business goals. Also, always address your proposal to the correct individual(s). People love hearing/reading their names and it makes the experience that more personal.

 

Create Positive Perceptions

Proposals that create positive perceptions of the product, service, and brand drive results. You have the unique ability to design your proposal for each customer to make your solution and company look positive. Taking time to examine competitors and demonstrate how your product/service is better than theirs can create a positive perception you will want your prospect to think about while making their decision.

 

Interactive Dimension (Communication)interactive-setting-of-people

Every proposal is interactive. They can either be proactive or interactive. In the proactive mode, the prospect may seem to be just sitting there reading/listening to the proposal, however, they are forming their decision of whether or not to buy from you. In the interactive mode, the proposal may seem more dominant and will elicit participation from the prospect. Participation can come in the form of approval on price points, approvals on features and asking questions such as: Does the list of features and benefits satisfy your business needs through quarter one as requested in the RFP? Communicating always involves 2 parties. In the most effective communication, the listener is mentally active even if not vocally so.

 

Call to Action (To Do)

Make sure you ask your prospect what you want them to do. Give them a reminder that they can choose to purchase today or request their approval to move forward with invoicing. This element of a winning sales proposal can easily be overlooked and assumed to be the only logical next step, so why ask? Asking your customer (in writing or vocally), personally by name can be the single greatest way to quickly move from prospect to customer. You can say, “Mr. Johnson, after reviewing this proposal would you please provide me with your approval to move forward by signing your name on the indicated areas?”

 

Review & Edit

Your audience is more likely to respond affirmatively to your proposed solution (Call to Action) if the points you have made steer them in the right direction. Make sure you review your proposal and make any necessary edits so that your proposal includes sufficient substance that provides them a reason or reasons to take action. Ask yourself: Will the contents of this proposal create the desired action that I am asking for?

By taking into account the above elements of a winning sales proposal before writing your next proposal you have already improved your chances of winning the business!