Being a supplier to large firms does not mean being a large company, apply the following keys to selling products or services.
In the business world, there is a well-known phrase: “There is no small customer, nor is there a negligible account” and it is true. One of the success factors for companies is to have loyal customers who, in the best of cases, become brand ambassadors.
However, it must also be taken into account that not all companies have the same needs; the time, resources and items that a micro and small company may require are different from what a large firm (more than 200 employees or more than 30,000 total turnover assets) will require, so it is advisable to differentiate each strategy, technique or phrase to persuade or close sales.
Challenges when selling to large customers
Clearly, conquering the ‘big fish’ will bring many benefits for our company, both in terms of profits and recognition. However, we have to know how to face the most frequent challenges that negotiations with these types of companies have and thus be able to reach the final stage of the sale.
Some of them are:
The fact that these types of challenges arise does not mean that they cannot be solved. On the contrary, with a little strategy you can turn these obstacles to your advantage.
For example, by not knowing who the decision-makers are, we will have to consider a longer purchase decision time; this period can be used to improve the points of the proposal, which you can evaluate with the other people in the company with whom you have contact.
This way, when you get to the final presentation, you will have much more knowledge of the company’s internal processes, its needs and the solutions you can provide.
Maintain a professional image.
A large company needs to work with a professional company that generates. Therefore, try to be very detailed in the sending of mailings, business cards, in the presentation of your employees and in each of the aspects that can benefit or affect the image of your company. Remember that everything goes through the eyes.
Understand the customer’s needs
Knowing what the client is looking for is the first step towards a good relationship; knowing what they want, what they need and what our organisation can provide them with, will be the basis for providing optimal results and exceeding expectations.
At a strategic level, by having this information we will be able to align the benefits of the product or service with each of their needs. This is where we will base our proposals on added value and benefits.
You can also read: Identify the most effective channel for selling your product.
Investigate who you are dealing with when selling your products or services.
Knowing what products or services the customer is already using, what aspects the competitor’s offer can offer and how your company can face that competition will give your proposal a wide scope for action.
Prepare a strong presentation for selling products or services.
You need to be more than ready and prepare a series of valid arguments so that you can convince sales departments why you are the best alternative for their company, in the most accurate way possible.
A good practice is to set out scenarios of possible objections the customer may have, and how best to handle them, thus eradicating doubt as to why doing business with SMEs would be a best practice for both parties.
Be on time with your deliveries
As in any business, large companies require deliveries within a certain time frame. Therefore, you need to calculate your manufacturing capacity very well and make delivery times very clear.
Remember that large companies want to form relationships on constant terms and not make occasional purchases. So delivering the volume you need on time will give you a good chance of extending the contract.
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Know the basics of selling products or services.
Although this is the last point, it is perhaps one of the most important; it is important that you know the 5 most important points in this type of negotiations:
-Selling is a process: The bigger the deal, the more time you will need to invest to close it and create a good relationship.
-Is it a real opportunity: Sales calls should not be synonymous with wasted time.
-Be cautious: It’s good that you want to build a good relationship. But try not to get personal.
-Invoicing and patience: Generally, large businesses generate their invoices for payment in 30 to 90 days or more. So this time period should be taken into account in your line of business.