Many commercial managers are looking for powerful ways to sell to large companies to expand their business and achieve greater profitability.
Also known as enterprises or ventures, in translation, they consist of businesses that work on a large scale. They are often organizations with offices in different locations and hundreds and thousands of employees.
By reaching the enterprise market, an organization can increase internal results, competitiveness, and revenue from the solutions.
On the other hand, this sector has characteristics that challenge managers to revolutionize the commercial department’s operations. It is necessary to leave the traditional and implement effective measures in all sales flows.
Five Traits Of Enterprise Sales You Should Know
As mentioned, when we talk about how to sell to large companies, we are referring to a market with unique characteristics and that, to succeed in the relationship with this sector, organizations need to know these aspects. Check out:
The Number Of Companies Is Smaller
Let’s do an exercise: think of some particular type of service, such as a cloud solution, artificial intelligence, or even the metaverse that recently arrived on the market.
When thinking about the topic, you will probably be able to name a few companies that provide this type of service. Well, the logic of the enterprise market is the same.
This means that it is a segment with a limited number of companies and is generally focused on technology.
More Competitive Market
Listing the previous topic, a lower number of companies in a sector is a sign of a more competitive market.
This means that, at the same time that your business is trying to contact a lead, your competitors are as well, and other companies that offer different types of services and products also want to relate to your prospect.
Your lead receives a flood of emails and proposals daily, requiring your business to implement strategies that make it stand out from the rest.
Most Reputable Companies
Because it is a more local market with a smaller number of companies, enterprise organizations are also more respected in their field of activity.
As a result, these are consolidated and recognized businesses with proven results and public confidence.
There Are A Large Number Of Decision-Makers, Influencers, And Gatekeepers
On average, the commercial sector needs eight contact attempts to reach just one prospect.
This data is not by chance. Generally, enterprise sales depend on the relationship with a chain of agents within these businesses, as is the case of:
- Decision makers: ICP and contact within the company who have the purchasing power;
- Influencers: they do not have purchasing power. However, they have a significant influence on the acquisition of new products;
- Gatekeepers: are the agents between the decision makers – ICP – and their commercial team, such as secretaries, assistants, and interns.
The larger the company, the more figures like these we will encounter in the sales process, requiring more targeted strategies from organizations wishing to become partners.
Sales With A High Average Ticket
Finally, the high average sales ticket is a characteristic of the enterprise market that undoubtedly calls for the most attention.
Although it is a highly restricted and competitive sector, your organization considerably increases your billing, competitiveness, and trust when you manage to enter it.
How To Sell To Big Companies? See The Best Strategy!
Now that you understand a little about the enterprise market, check out some critical initiatives on how to sell to large companies :
Choose Strategic Accounts According To Your ICP
The ICP is the economic one for Ideal Customer Profile or Ideal Customer Profile, in translation, and is directly related to that consumer who has the fittest with your solution and generates the highest revenue for your business.
By recognizing who your ICP is (as well as the characteristics of this persona), it is time to choose a sales strategy that best suits your audience. When we talk about enterprise sales, the best initiative, without a doubt, is ABM ( Account based-marketing ).
This strategy allows for choosing specific accounts to work on and directing the team’s efforts to strengthen the commercial relationship with these contacts. ABM depends on a high degree of personalization and a lot of knowledge about the lead.
Align Your Sales Pitch
When choosing the initiative, it is time to align your sales pitch. That is, define the “arguments” adopted by your sales team at each sales stage and the objection strategies.
Next, you need to invest time in preparing the entire team with clear guidelines on the commercial process and targeted training to increase employee performance and ensure better results for your retail area.
In addition, the correct orientation keeps the team engaged and alert to the pipeline and the CRM, not losing any contact through the funnel. This can even be a differential for the returns of your commercial area since an Inside Sales survey reveals that 35% to 50% of closings are made by salespeople who contact you first.
Customize The Entire Sales Process
Your sales team needs to remember that the commercial process in the enterprise market is long and involves all the features we highlighted in the previous topic.
Your sales pitches must be entirely customized across all sales flows, from creating emails to phone contacts and even business presentations.
It is necessary to adapt the entire speech according to the market reality of the lead itself, ensuring the required customization for implementing ABM.
Set Indicators And Track Performance
Finally, there is only a high-performance consultative sales process with defining and monitoring key performance indicators (or Key Performance Indicators – KPI). These metrics allow you to holistically understand the results generated by your commercial team, as well as whether the implemented strategies have given the desired return.
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