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 little room for error when selling to Major Accounts. For that very reason, you need a Major Account Sales Strategy that will have your competition writing a Lost Order Report while you’re cashing a large commission check. Let’s explore ways to insure that happens the next time you are pursuing a major account opportunity.
In my next two posts, I’d like to offer you my advice on major account sales strategies that result in sales success. The focus is on simplifying complex sales opportunities.
Reps 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. Reps need a major account sales strategy that keeps them 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”. Often, the answer is found in sales training on how to best develop solid Major Account Sales Strategies.
I) Major Account Strategies – Identifying The Players
We begin our major account strategies by identifying every person 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 effort. A rep’s major account sales strategy begins by recruiting the best of the best for their team. Typical internal 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 begins by identifying the internal team members early in the process. Reps must advise each internal team member that they have been selected to be part of the team. Reps must then “over communicate” through periodic updates to insure all are informed about every aspect of the progress and status of the major account sales strategy. Every team member is important and must be made to feel important. I cover this in my corporate sales training.
B) Major Account Sales Strategies – Prospect’s Team / Committee
Major account strategy must also identify every person that will be involved in the decision making process on the prospect’s side.
By simply just knowing the job titles of those that will participate in the decision allows the rep to identify their areas of interest or their “hot buttons”. Typically, this is what you may find to be true by taking titles into account when developing major account sales strategies…
TITLE – HOT BUTTON
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. Major account sales strategies must highlight a product’s strengths as it relates to the specific “hot buttons” of each committee member. This process is the start of a major account sales plan.
C – Major Account Sales Strategies – Likely Competitors
Even if there are no visible competitors, there is still competition. Prospects can always decide to “doing nothing” and maintain their present ways of operating.
When there is competition, reps must assess the strengths and weaknesses of each competitor. Then, reps must measure each competitors strengths and weakness against the decision-making committee member’s “hot buttons”. This major account sales strategy allows reps to identify where they have a competitive advantage and where they need a strategy to level the playing field. Obviously, this information is a major factor in the sales process.
A major account sales strategy also needs to identify if any of the committee members had previous experience with any of the competitors. Reps need to look up each member on a business social networking site to uncover his or her previous employment. Did they use any competitive products or services while at their previous employers? This is important information that should 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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