How to Attract the Attention of Large Companies by Closing Big Sales

How to Attract the Attention of Large Companies by Closing Big Sales

When selling to large companies, the small-midsize companies have to adopt different methods and processes to land big sales. In the early days, when these companies were small, most deals were finalized between the founders or key executive with a handshake over lunch. It is a different picture today. Such deals take much longer and are held between two separate teams of sellers and buyers.

The teams are typically comprised of executives from different departments supported by subject matter experts from various fields involved in the deal. It may take weeks or even months of planning and preparation before the big sales are concluded satisfactorily.

Selling to a large company is not merely a question of supplying superior products, services and other competitive advantages, but overcoming their fears of dealing with smaller unknown companies.

Although there are many advantages in dealing with small companies, most large companies have the following fears about smaller companies:

Fear of changes in the established procedures and practices.

Fear of conflict and disruption in the existing comfortable relationships with employees, departments, customers, or suppliers.

Fear of increase in employee workloads or work schedules.

Fear of failures or mistakes during the implementation of new processes.

In spite of the many negative factors, it is very much in the long term interests of smaller companies to pursue and land big deals with large companies. With the first big sales which you complete successfully, you will draw the attention of the large companies. You will no longer be treated as an unknown company but as a reliable and established supplier and opportunities for big sales will be much easier to get.

By gradually increasing the size of your deals with large companies your revenues will grow and your profit margins will increase. You will enjoy the benefits of larger market share, stronger industry reputation and more opportunities for growth. Your affiliation with large companies will give you wider recognition and significance in the eyes of your customers, prospects and lift the morale of your staff.

As you attain more experience in dealing with large companies and closing big sales, you should adopt a strategy of gradually culling out some of your problem accounts. Look at a reduction of about five to ten percent per year as a starting point. The five to ten percent may be chosen on the basis of the lowest margins, the most difficult to satisfy, the hardest to collect from, or other criteria important to you. Ultimately you will be left with only high-dollar, high margin accounts that are a pleasure to do business with and will remain the mainstay of your future business.

The key to closing big sales is realizing that they way you sell to a big company is more complex, involves more people, takes more resources and has a longer sales cycle. If you can stay focused and find ways to identify and overcome their fears of doing business with you in 6-12 months you will be closing whales and growing exponentially!

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