Learning Corporate Sales Techniques

Learning corporate sales techniques is an important aspect most small business owners tend to neglect. Corporate sales techniques are different from the ones you use for individual customers or other small businesses, but the effort you put in can be huge. In order to get started, you’ll need to learn a few tricks of the corporate world.

A Caveat

Before you start courting corporations, remember that this process is very time-consuming. Since corporations are accountable to their shareholders, they have very strict guidelines they need to follow when they accept business proposals or bids from other businesses. The decision is then deliberated upon and made by a committee. In other words, you’re going to have to talk to a whole number of people in order to establish a relationship with the corporation. And even then, the turnover and movement of the business will make it difficult for you to establish a long-lasting professional relationship with a corporation.

Establish the Right Contacts

It sounds almost impossible, but there is a way to sell to corporations if you have the right contacts and resources. In any given corporation, there is always a number of individuals in the middle and the top, all with different agendas and different degrees of influence. Before even attempting to sell to a corporation, you need to have a good working relationship with the corporation’s decision-maker or someone who has influence with the corporation’s decision-maker. If not, you have to be in a position where you can develop a good relationship with that person.

Answer an RFP

Whenever corporations want to outsource a project, they often post a request for proposal or RFP. Think of the RFP as an invitation to other firms, just like yours, to send in a business proposal or a bid. However, responding to an RFP is not as easy as checking off an RSVP card. It is a time-consuming process, and your proposal needs to adhere to strict guidelines before the corporation even looks at it. But when you bag that contract, the rewards will be worth it.

Do research and understand your buyer

Before you start calling on corporations or responding to an RFP, do research on your seller, their industry, its trends, and issues. Come up with creative solutions your business can provide to meet the corporation’s needs. You will also need to look up the key players of the corporation and breaking news. Being unaware of a recent merger or not knowing who the CEO is can kill your efforts.

Maximize your meeting

If you manage to make it as far as a face-to-face meeting – congratulations! But the job is far from over. Make the most out of your meeting time, and work on making a good first impression. Busy corporate buyers only take a minute or so to size you up and determine if you’re worth buying from. Be prepared to look smart, act professional, and answer any questions they might have about your business and your offerings.

Know Your Limits

Some corporations will take advantage of their market position and demand big discounts from your services, or insist on imposing unfavorable terms. Know what your limits are and never make a deal that will break your business.