Dec8
Major Account Sales Strategies – Part I
Posted by Nick in Corporate Sales Training | 0 Comments
File under advice on major account sales strategies, closing major accounts, complex sales, developing major account sales strategies, how to sell to a committee, major account sales strategies, major account sales strategy, major account strategy
Best Major Account Sales Strategies
by Nick Moreno
There is no room for error when selling to Major Accounts. You need a Major Account Sales Strategy that insures your competition will soon by writing a Lost Order Report while you’re cashing a large commission check.
In these posts, I’d like to offer you my advice on major account sales strategies that result in sales success. The focus is on complex sales opportunities.
You need major account sales strategies because major accounts are different in many respects. Typically, these complex sales involve multiple decision makers and competitors. The sales cycle is longer and full of twists and turns. You need a major account sales strategy that keeps you focused and on track. Solid competitive sales strategies will succeed more often than not.
This advanced sales training about successful Major Account Sales Strategies is organized as follows:
Part 1 – Identifying The Players
Part 2 – Developing A Major Account Sales Plan
There is a lot ridding on successfully closing major accounts. Companies are investing money and resources and trusting their sale rep to put them to good use. Often, major account sales reps have too few eggs in too few baskets so it’s “make it or break it time”. Adding to the pressure is the high visibility given to major account opportunities. You can’t afford to “wing it”. You need sales training on how to develop solid Major Account Sales Strategies.
I) Major Account Strategies – Identifying The Players
We begin our major account strategies by identifying every one that will be involved in the sale. This identification process covers three key areas:
A) Sales Team Members
B) Prospect’s Team / Committee Members
C) Likely Competitors
A) Major Account Sales Strategies – Sales Team Members
Selling to major accounts is a team sport. Your major account sales strategy begins by recruiting the best of the best for your team. Typical team members include, but may not be limited to the following,
Sales Engineer
Pre Sales Customer Support
Post Sale Customer Support
Proposal Development Department
Middle and Upper Sales Management
Product Management
Finance – Credit Approvals
Marketing – Competitive Analysis
Pricing and Offer Management
Legal – Contract Administration
The key to a successful major account sales strategy is to identify your team members early in the process. Let them know they have been selected to be part of the team and “over communicate” through periodic updates to insure all are informed about every aspect of your major account sales strategy. Go out of your way to make every team member feel important. I cover this in my corporate sales training.
B) Major Account Sales Strategies – Prospect’s Team / Committee
Your major account strategy must identify every person that will be involved in the decision making process. You also need to identify their titles because that will help you identify their areas of interest or their “hot buttons”. Typically, this is what you may find to be true by taking this into account when developing major account sales strategies,
CFO – Pricing, Savings, Cost Justification
End User – Ease of Use, Customer Support, Customer Training
Department Head – Installation / Implementation
CEO / COO – Increased Productivity
V.P. Sales – Competitive Advantage
Major account sales strategies need to take into account that the above-mentioned individuals may operate as a committee. Some will influence the purchasing decision while others will make recommendations. Your major account sales strategy is to highlight your product’s strengths as it relates to their specific “hot buttons”. That’s how to sell to a committee and the start of developing a major account sales plan.
C – Major Account Sales Strategies – Likely Competitors
It’s easy to identify likely competitors but you also must assess their strengths and weaknesses. Then, measure their strengths and weakness against the decision-making committee member’s “hot buttons”. This major account sales strategy allows you to identify where you have a competitive advantage and where you need a strategy to level the playing field. Factor this information into your sales process.
Your major account sales strategy also needs to identify if any of the committee members had a previous experience with one of the competitors. Look up each member on a business social networking site to uncover his or her previous employment. This is important information that must be part of your major account sales strategy.
I’ll cover about major account strategies and plans in Part II – Major Account Sales Plans
Nick Moreno, Major Account Sales Trainer
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