Landing bigger accounts can be the most effective way to reach a position as a top sales rep, but how do you begin landing bigger accounts?
Landing bigger accounts can be the most effective way to reach a position as a top sales rep, but how do you begin landing bigger accounts in the first place? It takes time and effort to successfully close key accounts, and although in the long run the work involved is similar to handling numerous smaller accounts the risks are larger since focusing on landing bigger accounts means you might not be able to prospect and follow up on as many smaller deals. Here are five tips for landing bigger accounts that can help you reduce the risk and make sure that your big account opportunities close.
Many new sales people eager to start landing bigger accounts immediately set their sights on industry giants – companies like Loblaw and Canadian Tire. While these companies have deep pockets, prospecting these corporations may not be the best way to start landing bigger accounts. To begin with, these organizations likely already have suppliers for most needs and tend to have extremely long sales cycles.
A better plan for landing bigger accounts is to look not at the company’s size, but at the likely budget for the product or service you are selling. Incorporate this into your pre-qualification process and enact a system to prioritize your leads based on likely budget. Also look at medium sized organizations that are in a growth phase or companies emerging from the start-up phase (who are well funded) who could use your product or service and may have the budget to become a key account for you.
Landing bigger accounts is first and foremost about developing more meaningful relationships. Organizations that have the type of budget that qualifies them as a large account are being sold constantly. Avoid being overlooked by focusing on developing relationships with decision makers at larger prospective accounts before you drill into your sales pitch by:
Large corporations are frequently organized into different divisions, and supply decisions are rarely shared between different entities. This especially true of corporate giants where the entities are legally separate. If you want to begin landing bigger accounts, understand the structure of your target(s) and develop contacts with decision making authority within every department that is likely to show an interest in your offering. Always let your contacts know you are speaking with others, and ask those contacts if there are other people you have not thought of who would like to be included in the decision-making chain.
The larger an organization is, the more intense its pressure points can be. When landing bigger accounts, successful sales people focus on addressing the different needs that larger accounts tend to have while developing urgency based on the pressures that concern a large account most. You can do the same through emphasizing that your organization can:
Landing bigger accounts depends to a large extent on timing. Bigger accounts that already have vendors and suppliers might not see the value in making a potentially disruptive change unless external events suggest otherwise. If you prospect a larger account only to be told to check back, keep that organization on your radar. As soon as external events like a new funding round, new market entry, or leadership change occur, follow up with information on how what you have to offer can help navigate that change.
Rhys is a tenacious, top performing Senior Sales Recruiter with 11+ years of focused experience in the Digital Media, Mobile, Software, Technology and B2B verticals. He has a successful track record of headhunting top performing sales candidates for some of the most exciting brands in North America. He is a Certified Recruitment Specialist (CRS) and has expert experience in prospecting new business, client retention/renewals and managing top performing sales and recruitment teams. Rhys enjoys spending quality time with his wife, son, and two daughters, BBQing on a hot summer day, tropical vacations and cottaging.