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5 ways to close more deals with large corporations

  • TommyCarey Level X3
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    5 ways to close more deals with large corporations

    In today's world, close to 80% of large businesses that are top performers have been modifying their techniques in order to close a sale, which isn't a crazy thing since the evolution of business is a common thing.  These businesses are accommodating their millenial sales teams, which turns out to be a great thing because they're closing more deals than before.

    How many times have you called into a company and wanted to voice your concerns only to talk with someone that sounds like they just got out of college?  Well it happens fairly often since everyone needs a job, and new graduates tend to take whatever they can get lol.  Millenials actually make up the highest percentage of workers in the world right now, and we all know the word millenials has a negative connotation towards it.  What if I told you that you could use anyone to boost your sales, even millenials, and you can land bigger clients with less effort...  Well, that's what this discussion is all about 5 ways to close more deals with large corporations


    Pitch results, not products
    When it comes to B2B leads, it's difficult to get in the same conversation with a decision maker.  Because of this, you can't drown them with what your product is, you need to get to the facts and just talk about what the product can do for them and possibly solve a problem they're having.  You can't go over every little detail about the product or service, because a decision maker likely doesn't have the time for that.  You'll need to get right to the meat of the product or service, telling them what it does and why they need it instead of what is in it and how it was made lol.

    Think of it this way, people don't want to buy a drill, they need something to make a hole and the drill solves that problem 5 ways to close more deals with large corporations

    When you're talking to a potential client, you need to have specific numbers for them, such as:

    1. Our services will save you XX hours with account each week.
    2. Our products have proven to last X years longer than (competitor). 
      ***Use the current brand they're using if you know it***
    3. It will take your team XX% time to find and close a lead.

    If you're talking like this, you will obviously need statistics to back it up as well as case studies.  All of those examples show the customer will save money in a short amount of time, which will make them more willing to purchase from you if your claims are on point 5 ways to close more deals with large corporations


    You need to research potential clients before you contact them
    If you know what a business is struggling with, or what they can improve on, you will have a better chance of sealing the deal before you even contact them.  Another reason this is a great thing to do is because you'll weed out the companies that might not need a use for your services or products, which will save you time since you're not pitching to companies that won't work with you in the first place.  Save more time, make more money 5 ways to close more deals with large corporations

    If you know what the companies need, you can tailor your pitch in a specific way to hit key points that the potential client is already worried about.  They will see you as a blessing at the exactly right time, and they will be more likely to sign up with you 5 ways to close more deals with large corporations

    A few ways you can figure out what your potential clients are facing:
    1. You can set up a Google alert to make sure you know when your potential client pops up in the news, or anywhere online for that matter.
    2. You can read through any press releases published by the company to see what they're trying to go public with.
    3. You can read through financial reports to see if they are investing in, or not in, specific industries (if possible)
    4. Read through any reviews of the company on Glassdoor, which will show disgruntled employees airing out what the company isn't doing well and that's where you'll be able to get in easier.


    Personal meetings are powerful
    If you've ever worked with an older person or company, you know that they can do a business deal with the power of a handshake, which goes a long way in terms of respect.  Millennials won't think about this as much as a seasoned veteran in the marketing industry, but that's ok, you need to train everyone that works for you that an in person meeting builds trust and you can usually get bigger clients a lot easier this way.  Even if you were face to face cold calling, it is much more successful than if you were to actually be on the phone contacting cold leads.  This is because you're in person and people always want to see who's pitching them rather than imagine who they're talking to.

    Small businesses that are in your area will almost always want to work with a local company, so meeting them at their shops or businesses will increase the chances of getting them on board. 

    Getting in front of them, actually in front of them, will always increase your chance of a sale because you're building trust and the person will know you're really in the area and not just saying you are in order to capture another sale.


    Have various pricing models
    Different pricing structures will always bring in new clients who were on the fence.  This is because they may want to sign up with your biggest service, but they don't want to invest that much in a company they aren't sure of.  They will start off with your smallest package and work their way up to your biggest one if you actually get them results.  Remember, you're building business relationships and not personal friendships, so you will need to provide results to keep them wanting to come back for more.

    I'll use my writing services as an example.  I offer a 500 word article for $12 and people have the option to purchase add ons if they want more than 500 words.  If a client hasn't used my services before, they may want to just purchase the one article at $12 and not purchase all of my add ons right away.  This is a completely understandable thing since we don't have a business relationship yet.  Plenty of my clients have done this, but then they come back and spend much more money since they now trust me and my content.  They know they're getting the best content, for an affordable price, and that I usually over deliver with every order 5 ways to close more deals with large corporations

    Using add on services as well as having different priced packages is a great way to get someone in at a low price but then get them to bump up their monthly payments due to your being the best at what you do.  Of course, you'll have to actually provide great work in order to get them willing to increase their budget with you 5 ways to close more deals with large corporations


    Never lower your own price in order to seal the deal
    You're worth the price you think you are, so never lower your price just to get a sale.  Sure, people will haggle you on your pricing, but you can't drop the bottom line in order to just get them to sign on.  They will expect to pay that amount every single time and they will also know that if they increase their budget, they can haggle you down to a different pricing tier so they save money.

    You know how long your services or products take to do or make, so stop reducing your pricing because that just hurts your own profits.  You can't lower your own prices just to get a sale, because you know the current clients won't increase their budgets to work with you when you increase your sales.  This is why you need to start off with your normal pricing and every once in a while reduce your pricing for a boost in sales.  Of course, you'll need to let everyone know that your pricing is reduced to new clients, and ONLY new clients, because your current clients will see this as a marketing tactic to build up your own sales in the long run.  Your current clients won't be hurt about the temporary decrease in pricing because they are already getting plenty of benefits through your service or products 5 ways to close more deals with large corporations



    In Conclusion
    Getting the bigger fish to bite isn't a secret, you just need to take your time when fishing for them.  The smaller fish, the people who are gambling with their money, will always bite if you have your service and products priced at a much lower value than they should be, but those business relationships never really last.  It's sad, but you will need to price yourself out of reach of the smaller fish since the whales will be able to afford even your lowest priced packages that are still out of reach of the smaller fish.  Think about it, if you're selling your lowest item or service for $500, that's out of reach for a lot of small fish.  On the other hand, $500 is a drop in the bucket for whales looking to hire someone like you, so they will likely start off with the lower figure and work their way up to your bigger packages or products 5 ways to close more deals with large corporations



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    Razzy

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    anwebservices

    anwebservices

    Great post. Closing the deal with large corporations could be a gold mine for freelancer(s) because it could lead into a long lasting relation which could worth a fortune if you make good deal, or even if you start with something small then try to get them again for something else. BUT "Never lower your own price in order to seal the deal" or you could just ruin your future. Large corporations are not childish and they would probably look for best supplier or service in order to get best out of it, so they wouldn't mind to pay fair price if you can provide top quality job
    8 years ago

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    Corzhens

    Corzhens

    I agree that some big corporations are willing to pay the price in exchange for good quality. But take note that big corporations have their own smart marketing people who would force you with their haggling. In our office, we have employees who handle the vendors for the negotiation of the costing. One case in point is a planned purchase of 1,000 units of a particular brand of computer. You can expect continuous haggling and the vendor would always bend instead of losing the sale.
    7 years ago

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    vinaya

    vinaya

    You cannot go and approacning every one you can find. Before you reach someone you should do a lot of research and find out whether the person is interested in the services and products you are trying to sell.
    I also agree that while pitching, we sgould focus on the results such as now the client is going to benefit by using this product or service, instead of talking about the product
    8 years ago

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    Corzhens

    Corzhens

    This reminds me of a computer vendor on her first visit to our office. We were in need of hundreds of PC computers and she was there for the sales pitch. But after a run through of the features of their product, she proceeded to their valued clients who were satisfied with their products. That really would give you a jolt that the product is good simply because it was the performance that we were talking about. Needless to say that our company became their client and eventually we became friends.
    8 years ago

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    overcast

    overcast

    I think the amount of time it takes to deal with the corporations. You can see that large corporations have their own approach. And the thing is that many of the big business takes time a bit different leads. And the thing is that small business have their own approach. I think you have listed some of the good tips. And this can help most of the freelancers establish a lot better understanding.
    8 years ago

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    rebelion26

    rebelion26

    I agree some of your point but you ruin your business. Large Competitors can look for the best supplier they got. So they would pay the price.
    8 years ago

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