Selling to Global Accounts: How to Manage Long Sales Cycles
- 15th December 2020
Blue chip companies are a breed apart. Whether they are Fortune 500, FT-SE100, or CAC40 companies, these are the grown-ups of the business world and if you want to play in their league, you have to know the rules of the game.
Here’s a couple of things we’ve learned in the process of approaching a Large Account:
- The Sales-Process. We all now that you can walk into some SMEs, have a nice chat with one of the senior people and soon enough things move forward. Some of our customers have their target audience well into the Mid-Market and their selling process is very transactional.
- Hint: If you are in this segment, invest in some software that can tell you the name of the companies coming to your website. Pass these names for Telemarketing follow-up. Conversion rates are usually very good.It doesn’t happen like that at the big companies. The process can take a long time and be exhaustive, and the larger the deal the more complex everything can be.
- Decision-Making: The fact that many executives are not able to make buying decisions on their own comes as a shock for many people used to deal with SMEs. It’s likely that the executive you target and meet, will take the decision to a larger team and then move it ‘upstairs’ to the C-level executives. This is especially true for the larger deals. You may well get a great response, share in some happy back-slapping and hand-shakes, only to find that the decision to buy from you has been reserved at a higher level. So, the key question is how to reach and influence all relevant stakeholders
- Selling into the blue-chips can be a long, tiring and let’s face it, expensive and complex process, which is frankly why many fail at the first few fences. There are different ways to accelerate the process and Account Based Advertising can certainly help you. Get it right, and you could develop highly profitable, long term relationships which will allow your own company to grow and prosper. Just always remember, that given the size of the prize, don’t rush it. Stay focussed, sure of your approach and method, and you could pull off some of the biggest sales of your life.
- If you want to know more details on what are the best practices in B2B Sales and Marketing to Large Accounts, do get in contact with our team of digital consultants. Now it’s time to move beyond the hype. Best of all, it is absolutely free so contact us
As you set out for the ABM journey, if you are not succeeding, it is time to REACT