Enterprise sales and managing large accounts have significant impacts on a company's revenue and growth.
To succeed, enterprise sales teams must engage in solutioning, promote relevant items, and concentrate on the sweet spot of your market.
Platforms for sales intelligence like Draup assist in gathering information and insights for successful enterprise selling.
Securing deals with enterprise clients and managing large accounts can significantly impact a company’s growth trajectory. AI-based sales intelligence can shorten the sales cycle and bring in marquee clients for the long haul.
Enterprise sales transactions can have an impact on income and market positioning, but they also call for a special set of abilities and approaches.
- It builds brand credibility and builds momentum for your company when large companies like Cisco, Apple, Disney, and HP land as clients.
- It increases revenue with a few large well-executed deals. The revenue also becomes predictable as it recurs over time.
- It deepens relationships and brings real value. Sales teams can develop a recurring relationship with a sales cycle that may last for several years.
Challenges of Enterprise Sales and Creating an Enterprise Sales Model
Understanding the challenges is essential if sales teams must succeed in these high-stakes situations.
- The longer sales cycles may take your sales teams months or even over a year to close. Though it gives them time to keep up their efforts and their faith, it gives them room for errors for the deal to fall apart.
- Sales teams must learn the complexities of organizational behavior due to many decision-makers. They risk wasting time on selling to the incorrect customers if not.
- Sales teams must find the right people and speak their language to address their concerns. A team with various skills and insights must work together to close an enterprise deal.
Let us look at what your sales teams could do:
1. Engage in solutioning – Sales teams must put themselves in the customer’s position and demonstrate to them that you are aware of their challenges, competition, and growth strategy.
Then, as you engage with executives to get approval, you earn the right to provide more solutions over time. When they provide solutions, enterprise sales teams could act like consultants or trusted advisors.
2. Sell the appropriate product – Sales teams must learn about their product and know if the product is suitable for businesses or not. Mostly, the product may not resolve your prospects’ challenges.
Questions to ask are –
- Can hundreds of consumers use the product successfully?
- Is it scalable to handle millions of cases each day?
3. Focus on your market’s sweet spot – Enterprise sales teams must choose which accounts to pursue. It is tempting to manage multiple clients after securing a big organization. They must know when to ignore the temptation to go after more.
Strategy Tips for Enterprise Sales
The size of the deals necessitates that your sales teams be at the top of their game. They must be aware of your product’s strengths and weaknesses, and the problems it can solve.
1. Identify the right prospects
All prospecting begins with research, and this is especially true for businesses.
Your sales teams must create an ideal customer profile (ICP) for potential clients and determine whether your product is more suited for widespread use (like Microsoft Office) or is more of a specialized item.
Sales intelligence tools can help sales teams get a deep understanding of:
- Demand drivers and technology usage,
- Pain points, needs, and challenges,
- What solutions are they using currently and its issues,
- Goals and responsibilities for each stakeholder,
- Buyer intent and their decision-making processes,
- and more.
Find people you know personally from your target industry or find new contacts. Ask for their input on your product.
2. Determine key decision makers and practice account-based selling
Enterprise prospecting is considering a corporation as a whole rather than focusing on its single decision-maker.
The CEO may purchase it, but you must collaborate with the IT department on implementation, end users to help them with its usage, managers to tell them about its features, financial analysts who will want to see the RoI, and so on, you may lose the customer.
This means picking stakeholders carefully.
Establish good rapport with these influencers within the company and when appropriate, connect people at your company to people at your prospects’ that share similar job titles.
3. Recognize the challenges to solve
As a company grows, so do its issues.
Your prospects are probably aware of their issues and are eager to communicate them in the hopes that you have a solution.
Clients buy solutions as a good sales team. Frame your pitch on outcomes and provide tales of how their product handled similar problems for other companies.
Focus on the ways your product will help them overcome challenges. However, the search for problems to solve does not end after the sale.
Follow up with your contacts to provide them with additional solutions or design a new solution that all your clients would take delight in.
4. Tailor outreach to individuals
Winning over a firm is winning over each stakeholder, which necessitates developing individualized messaging that demonstrates your understanding of them.
Showing them you understand their issues are likely to yield greater results, as gaining traction in an enterprise-sized firm requires an internal champion.
Because enterprise executives get hundreds of emails, your sales team must customize. Create highly relevant, targeted messaging, pitches, value propositions, and objection management using your research data and tailored content.
Concentrate on the advantages of your solution. Sales teams could start by talking to employees in their firms in similar roles.
- What types of sales emails do people open?
- Which tactics persuade them to engage in a conversation?
Take those learnings and apply them to communications for similar roles in your target account.
Use Sales Intelligence to Automate Enterprise Selling
Understanding accounts and leads better aids in the creation of hyper-targeted pitches that converts. AI-driven Account Intelligence takes data points from each account and summarizes them for your sales teams.
This allows them to make an informed judgment about possibilities. This information can range from outsourcing engagements to internal digital stacks and more.
Draup for Sales is a sales intelligence platform that provides sales teams with hyper-targeted account information and the ability to segregate accounts and stakeholders using comprehensive and real-time metrics.
It allows users to bookmark specific companies depending on their interests. It aids in bookmarking peers or competitors and adds them to multiple lists for prospect planning or benchmarking activities, as well as comparing them side by side.