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jerryking : enterprise_clients   16

7 Closing Strategies to Double Your Average Sale Size
August 11 | Entrepreneur Magazine | Marc Wayshak - GUEST WRITER
Your success depends on closing bigger, better deals. Put your time and energy into prospects with the power to make large investments and introduce you to others who can do the same.

1. Get over your fear.
Many salespeople are simply too scared to sell to huge companies...... large companies face the same problems as your small customers do, just on a bigger scale. This means they need a bigger version of your solution -- and they have the budget to match. Get over your fear.

2. Stand apart from the crowd.
High-level prospects hear from an average of 10 salespeople every day. If you do what everyone else is doing, you’ll never get through to them or earn their trust. To double your average sales size, you must be intentional about standing apart from the crowd in your industry. While others pitch, you should ask questions. While others are enthusiastic, you should be low-key and genuine. While your competitors focus on their products, you should focus on your prospect’s deepest frustrations and show how you can solve them.

3. Stop selling to low-level prospects.
Selling low-level prospects harms your close rate and decreasing your average sale size. Low-level prospects simply don’t have the power or budget to tell you “yes." They’re not the decision-makers. If you want to increase the size of your sales, stop selling to prospects who lack the budget to invest in your solution.

4. Sell to decision-makers.
It’s a best practice to head straight to the top of the food chain and sell to directors, vice presidents, and C-level executives. They have the power and budget to say “yes” to your offer. If someone refers you back down the chain, you’re still landing an introduction to the right person -- by his or her boss, no less.

5. Stop cold-calling.
Cold calls are miserable. Try implementing a sales-prospecting campaign. Plan your calls, letters and emails as follow-ups to a valuable letter or package you send via FedEx. This could be a special report, unique sample or company analysis. These intentional, repeated touches over a series of months will set you up as a familiar name by the time you actually get your prospect on the phone. When a huge sale is on the line, you can afford to invest time and money to catch a single prospect’s attention.

6. Know the decision-making process.
If you’ve closed only small deals at small companies in the past, you might be accustomed to working with just one or two decision-makers at a time. In large corporations, the decision-making process can be much more complicated. One of the biggest mistakes salespeople make is failing to understand the decision-making process. Get a grasp of this early on, and you can stay in front of the right people, build value for them and close your sales at higher prices.

7. Leverage sales for introductions.
When you close one large sale at a big organization, don’t stop there. Ask new customers for introductions to others in their company or network who could benefit from your offering. You have nothing to lose by asking for introductions, but failure to do so will cost you massive opportunity and revenue.
Gulliver_strategies  sales  fear  large_companies  differentiation  sales_cycle  buyer_choice_rejection  cold_calling  referrals  prospects  JCK  executive_management  campaigns  Aimia  LBMA  strategic_thinking  close_rate  questions  thinking_big  enterprise_clients  C-suite  low-key  authenticity  doubling  the_right_people 
august 2017 by jerryking
Boost your sales with tips from Warren Buffett
DECEMBER 18, 2012 | The Globe and Mail | by HARVEY SCHACHTER, SPECIAL TO THE GLOBE AND MAIL.

How to Close a Deal Like Warren Buffett
By Tom Searcy and Henry DeVries
(McGraw-Hill, 217 pages, $24.95)

The authors recommend a process they call "the triples" that will help you make the case for your product or service:

Triple 1: The prospect's three problems

First, find out – and write down – the three biggest problems the prospect faces in the area your product or service can help. This aligns you with the buyer's interests.

Triple 2: Your three-part solution

Now think carefully about how you can solve each problem. As you write it out for the client, remember that generic language such as "improved," "better," and "big difference" are not that compelling. Use actual numbers and refer to specific pressure points to focus on the outcomes your prospect can expect.

Triple 3: Your three references

The third step is to identify at least three references you can share who have experienced similar outcomes when using your products and services. This may be sensitive, given confidentiality and competitive issues. But the authors stress: "The most effective way to get the attention of prospects is to drop the names of others just like them."

The authors urge you to become a student of psychology and develop profiles of members of the prospect's team. Try to determine each person's fears, since those qualms may send your pitch into the ditch. Determine each person's point of view about your solution, as well as any other personal trait or event that might be of importance. At the same time, study the team dynamics, from where people sit around the table to who they defer to.

The most dangerous person will be "the eel." The authors insist that "in every deal, and at every prospect's table, there is always an eel – a person who is against the deal. Always. Eels have a tendency to hang out in the shadows. They are hard to get to, and they usually talk you down when you're not around."

Usually eels are driven by fear that they don't want to acknowledge, so instead they insist they are against the deal on principle. They are dangerous, and must be identified early. Then you can try to co-opt them, taking the eel's ideas and baking them into your proposal.
aligned_interests  books  deal-making  eels  enterprise_clients  Harvey_Schachter  indispensable  JCK  management_consulting  obstacles  pitches  problems  problem_solving  psychology  references  salesmanship  solutions  tips  think_threes  Warren_Buffett 
august 2017 by jerryking
Want to land a big client? Here are four important tips - The Globe and Mail
MATTHIJS KEIJ
Young Entrepreneur Council
Published Tuesday, Aug. 12 2014

Study them

Landing a big client isn’t about you. Let me say that again: It is not about you.... remember that to succeed, you must help your client succeed. How do you do that? Study everything you can about the client until you fully understand the business, strategies and objectives.

Next, clearly define how your product or service will help the company achieve its goals. If you can identify a problem or isolate areas for improvement, then you can clearly illustrate your ability to provide a unique solution.

Make the connection. to land that enterprise client, try to identify your Norgay or Hillary. Talking to the wrong people wastes valuable time. However, if you can create a relationship with a strategic partner, that person can help get you in front of the right people and into the necessary meetings – all the more quickly than you could do on your own. Your target client is Mount Everest. Start climbing.
Gain influence

“An enterprise client needs to be convinced that working with your company is the best decision they could ever make,” says Karthik Manimozh, president and COO of 1-Page. “One of the most effective ways to help them arrive at this conclusion is to let your reputation precede you.”

The leadership, prestige and visibility that your company wields in the marketplace are all key factors that influence buying decisions. The answers your potential enterprise client seeks rest on your ability to shape your story. Good PR and marketing is the foundation. Strategic networking and social proof are pillars.

Remember, influence is something that comes with hard work...Be everywhere; talk with everyone (but ensure your conversations are informative and upbeat, never desperate).

Persevere through tough times

It can take months or even more than a year to land an enterprise client. Nothing worth having comes easy.

During that time, you’re bound to find yourself in countless meetings, possibly caught up in the middle of office politics, or jumping through hoops as the legal and procurement departments vet your company. Don’t dismay. This is par for the course when trying to land an enterprise client.
solutions  solution-finders  marketing  business_development  tips  indispensable  influence  networking  JCK  due_diligence  large_companies  perseverance  Communicating_&_Connecting  value_propositions  serving_others  strategic_thinking  client_development  hard_work  enterprise_clients  hard_times  office_politics  Michael_McDerment  the_right_people 
august 2014 by jerryking
Winning Back a Lost Customer, Marketing Methods
Sep 1, 1993 | Inc.com |Susan Greco.

Tips on handling the loss of a major client.

The hot debate: how to recover from the loss of a major client. The setting: a roundtable on customer service at this year's Inc. 500 conference, our annual get-together for the fastest-growing small companies.
customers  customer_appreciation  customer_churn  tips  enterprise_clients  customer_loyalty  small_business  customer_service  turnarounds  win_backs 
july 2012 by jerryking
Indirect Approach Helps A Start-Up Win Business - WSJ.com
November 11, 2003 | WSJ | By PAULETTE THOMAS | Special to THE WALL STREET JOURNAL.

For start-ups attempting to pitch a sale to a big corporation, it may make more sense to penetrate the target through a side door. Piggyback with a current vendor of record already serving that large corporation.
Aramark  enterprise_clients  foodservice  large_companies  partnerships  serial_entrepreneur  small_business  Sodexho  start_ups  subcontracting 
may 2012 by jerryking
How Do You Escape the One-Big-Client Trap? - NYTimes.com
March 21, 2012, 12:29 pm
How Do You Escape the One-Big-Client Trap?
By GREGORY SCHMIDT
running_a_business  small_business  large_companies  enterprise_clients 
march 2012 by jerryking
Market Research: Safety Not Always in Numbers | Qualtrics
Author: Qualtrics|July 28, 2010

Albert Einstein once said, “Not everything that can be counted counts, and not everything that counts can be counted.”

Although many market research experts would say that quantitative research is the safest bet when one has limited resources, it can be dangerous to assume that it is always the best option.

we put together a few guidelines for when one research method might be more useful than the other.

Quantitative:
* For trending purposes, i.e. trends in customer feedback
* Need for quick feedback
* Particularly useful when a company wants to determine how to increase market share
* Product feedback for consumer products

Qualitative:
* Help identify non-obvious ways to delight current customers
* Looking for information to grow an existing market or create a new one
* Market research follow-up questions when numeric scales can be misleading
* Messaging validation for products that are new to the market
* Market validation
* Understanding objections and barriers
* Product feedback for enterprise products

In the article, “Market Research: Quantitative or Qualitative,” the writer Diane Hagglund said, “sometimes numbers provide false confidence and obscure real opportunity.” [Definition of overquantification]

She later added in a follow-up article that her market research firm recommends web surveys as good vehicles for quantifying concepts that the researcher is familiar with and wants accurate percentages for each option.

“This is a valuable thing to do, especially for market sizing, external marketing and PR purpose,” Hagglund said. “But for finding out the answers that you don’t really know, start with qualitative research – and by all means do a web survey next to put those percentages in place once you know the statements to put the percentages with.”

In other words, it’s important to quantify your qualitative research and qualify your quantitative research
market_research  market_sizing  overquantification  storytelling  qualitative  quantitative  Scott_Anthony  dangers  research_methods  non-obvious  enterprise_clients  false_confidence  Albert_Einstein  easy-to-measure  delighting_customers  follow-up_questions 
december 2011 by jerryking
It's amazing where The Beatles sometimes turn up!
Apr 03, 2006 | GeorgeHarrison.com | HARVEY SCHACHTER
Presentations: Start with the customer, and end with your company
Most presentations and product demonstrations start with a corporate
overview of the company doing the selling. Instead, consultant Peter
Cohan tells MarketingSherpa you need to save the corporate overview for
the end and start with a powerful slide that captures the needs of the
buyer. The point is to say: "We understand the specific pain you are in,
and we can help you solve it." From there, move on to the actual result
if they buy your product -- the increased productivity or sales or
other benefit that will come from your services. Now you can take some
time to tell them the features of the product or service you are
offering, before ending with details on your company. He urges you to
leave 75 to 80 per cent of your presentation time for questions from the
prospects.
presentations  Communicating_&_Connecting  Harvey_Schachter  pitches  Beatles  services  salesmanship  sales  enterprise_clients 
april 2011 by jerryking
Romil Bahl of PRGX, on the Emergence of Great Ideas - NYTimes.com
By ADAM BRYANT
March 12, 2011

“tactful audacity.” = you can’t give feedback to clients in anything but
a constructive fashion. You can’t sort of just push back willy-nilly,
and you don’t win arguments with clients, period. ..Now, having said
that, if you aren’t being audacious, if you aren’t challenging, if you
aren’t pushing back, you’re on your way out the door, right? You’re done
as the trusted adviser and partner. So now it’s in our value set. It’s
about tone and how you pass along a difficult message. You sort of flip
that around and say, “How do I like to hear advice and how do I not like
to hear it?” You’re doing it because you’re trying to help.
management_consulting  advice  indispensable  CEOs  audacity  howto  feedback  emotional_intelligence  enterprise_clients  JCK  chutzpah  core_values  EQ  difficult_conversations 
march 2011 by jerryking
DeMaurice Smith Takes On the N.F.L. Owners - NYTimes.com
By SRIDHAR PAPPU
January 22, 2011

As a corporate lawyer at Patton Boggs, the high-powered Washington firm,
Mr. Smith dealt with companies that were either “in crisis or were
about to be.” As a candidate for the N.F.L.P.A. job, he composed what he
called “Playbook: An Enterprise Philosophy to Maximize the Business and
Political Interest of the N.F.L.P.A.” “About 60 percent of it,” he
said, “was envisioning what the chances were of a lockout and what to do
to prepare for it.”

It was a useful exercise. “The only bad thing is that everything we
thought and contemplated the league would do they’ve done,” Mr. Smith
said.
anticipating  creating_valuable_content  crisis_management  enterprise_clients  event-driven  labour  lawyers  negotiations  NFL  playbooks  preparation  sports  troubleshooting  turnarounds  unions 
january 2011 by jerryking
Agency Leadership Advice: Branding Strategy Insider
Shelly Lazarus, Chairman & CEO, Ogilvy & Mather
Worldwide. Excerpted from her January 2005 article The Best Advice I
Ever Got in the HBR. David Ogilvy 's advice, "No matter how much time
you spend thinking about, worrying about, focusing on, questioning the
value of, and evaluating people, it won’t be enough, he said. People are
the only thing that matters, and the only thing you should think about,
because when that part is right, everything else works."...."the truth
is that clients come and go: You’ll always win another one, and another
will go away. The real problem came when people within a company became
dispirited and demotivated, engulfed by crisis, felt differently about
the work they were doing, and were ready to walk away in a huff, wanting
nothing more to do with it. The challenge, therefore, is not simply to
win back a big account. It was to motivate the people to forget about
the catastrophe and focus on the work"
advice  advertising_agencies  advertising  bouncing_back  CEOs  David_Ogilvy  demotivated  dispirited  enterprise_clients  Managing_Your_Career  motivations  Ogilvy_&_Mather  people_skills  resilience  Shelly_Lazarus  walking_away  win_backs  women 
december 2010 by jerryking
MARKETING: Selling by doing, not telling
20 Aug 2007| Globe and Mail Blog pg. B.5.| by Harvey Schachter.

MARKETING: SELLING BY DOING, NOT TELLING

If you're selling complex, intangible services, turn your next sales presentation into an action session where the client can sample what it is like to work with you. On RainToday.com, Charles Green tells of the firm that began its pitch session with: "We have 90 minutes with you. We can either do the march of a thousand slides, which we're happy to do, or we can get started now and begin to work with you. After 85 minutes we will stop, and you'll have first-hand experience of exactly how it feels to work with us." Buyers need a way to determine your expertise, and the best route is by offering them a sample rather than hearing you list your achievements.
presentations  execution  marketing  Harvey_Schachter  pitches  action-oriented  experiential_marketing  enterprise_clients  intangibles  services  sales  salesmanship 
march 2010 by jerryking
Working Things Out With a Giant Customer - WSJ.com
OCTOBER 17, 2006 WSJ article by ANN ZIMMERMAN.

Romano Pontes, a longtime apparel supplier to Wal-Mart Stores Inc. was told by Sam Walton "'If you believe in a point, scream it as loud as you can to whomever will listen to you,'". This spring, Mr. Pontes put Sam Walton's advice to the test and risked losing Wal-Mart, his biggest and most lucrative client, in the process. He and a Wal-Mart buyer had a disagreement over a shipment of apparel that wasn't selling.....Pontes says he decided to fight for what he thought was right. He thinks small-business owners who work with big corporations frequently are afraid to stick up for themselves, fearing they will ruin the relationship. He says that not giving in doesn't have to kill a business relationship. It can even strengthen it. "You have to speak your mind, but you have to say it nicely," says Mr. Pontes, 46 years old. "I never said, 'I want to sue you.' I just made my case.".....Mr. Pontes's company, Global Vision Inc., is one of 61,000 U.S. suppliers to Wal-Mart,....The company says it doesn't know how many supplier relationships end each year and how many new vendors they bring on board.....Each supplier has a different vendor agreement with Wal-Mart...Some contracts may specify that unsold products will be returned. It depends on the type of product and supplier.

Shouldn't vendors always have agreements like that in writing? "Not always,"

Not in Contract
Although Global Vision's contract with companies doesn't spell out the policy for merchandise that doesn't sell, Mr. Pontes says he had an unspoken agreement that "we would work things out."......To straighten out the situation, Mr. Pontes says, he started with two members of the buying team, who claimed Mr. Pontes had authorized the goods to be returned. Neither side would relent, so Mr. Pontes then made his case to a senior executive in the finance department in Wal-Mart's Bentonville, Ark., headquarters. This time, Mr. Pontes said that he would produce documentation that the merchandise wasn't defective and challenged the company to prove that it was.
A conference call was set up between Mr. Pontes and a general-merchandise manager. But two hours before the scheduled call, Mr. Pontes says he canceled and sent an email instead, claiming he had stopped shipments on Wal-Mart orders to locations around the world. He added that other buyers in Puerto Rico were interested in buying Wal-Mart's 1,296-piece order of T-shirts and board shorts by Quicksilver, a trendy teen brand.

Less than two hours later, Wal-Mart emailed back, saying it would pay for the original Ocean Pacific order and wanted it shipped back to Puerto Rico....Says Mr. Pontes: "You have to have courage and guts, elevate it as high as you can. If you leave it at the buyer's level, they'll bury you. I went four levels higher than whoever is in charge of our accounting."
apparel  disputes  enterprise_clients  escalation  Gulliver_strategies  large_companies  self-respect  small_business  start_ups  supply_chains  Wal-Mart 
march 2009 by jerryking

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