Landing big brands and corporate clients will increase your business prospects in more ways than one
If your business is angling to land a big brand or corporate customer this season, there is enough of very good news to bypass.
To begin with, even when confronted with market uncertainty, big companies are continuing to invest on services and products. On technology alone, companies are anticipated to invest $4 trillion this season. Those kinds of investments, coupled with unprecedented market disruption, are creating a ripple aftereffect of change within companies. And change, as history shows, breeds opportunity.
Indeed, a fresh study from American Express reveals underneath line benefits of being truly a corporate supplier. American Express surveyed small and midsize companies with revenues between $250,000 to $1 billion annually, and discovered that 81 percent predict a rise within their sales to corporations over another five years, while 50 percent anticipate a revenue increase of 50 percent or even more.
Of course, as well as the sizable revenue, having global brands on your own client list lends your business instant credibility. But that’s just the end of the iceberg. The survey respondents also said that landing corporate clients has helped offset two big challenges entrepreneurs frequently face: winning the war for talent and securing financing. Actually, 74 percent of entrepreneurs in the analysis noted that conducting business with large companies has helped them attract and retain employees. And the same number said focusing on corporate contracts resulted in more flexible financing options for his or her companies.
For each one of these reasons and more, there’s a compelling case to be produced for adding big brands to your customer list. However, lots of things are changing with regards to connecting with, captivating and closing these coveted clients.
Here are a few of the brand new rules of the street we’ve been sharing with this clients at THE ORGANIZATION Agent, a company that helps smaller businesses and self-employed experts land big brand clients.
For greater than a decade, we’ve heard much emphasis positioned on digital and content marketing. But while those ideas are certainly boxes you should check, it’s difficult to get the attention of real decision makers through all of the noise. Consider there are a lot more than 2 million articles, posts and videos published on LinkedIn alone each day, and that number keeps growing.
That’s why it’s more important than ever before to supplement your web strategies with face-to-face experiences, which rapidly accelerate the procedure of creating trust and rapport. These interactions also enable you to hear first hand what your prospects are actually looking for and what’s urgent to them at this time.
The main element, however, is to take the lessons we’ve learned from the internet and apply them to the offline one. Just just how online content is most successful when it’s made to meet up with the specific needs of a focused audience, the same holds true for in-person meetings. Decision makers are gravitating to smaller, more specialized opportunities that are immediately highly relevant to them, deliver tremendous value, and put them in an area with people they see as true peers. In addition, it doesn’t hurt to include Instagram-worthy activities in to the experience.
A common complaint about selling products to large companies is that sales cycles may take quite a long time. That’s true using situations, particularly if there’s a formal purchasing process which involves bids from multiple competitors. However, don’t assume all buying decision undergoes the procurement department. Senior executives make purchasing decisions by themselves as well, and the ones opportunities have a tendency to move quicker.
But it’s not only red tape slowing the buying process. The primary culprit behind slow sales cycles is insufficient consensus among decision makers all along the buying journey inside large, complex organizations. Questions which range from, “Is this a problem we’ve enough time and money to handle given our other priorities?” to “Can we solve this internally or do we are in need of an external resource?” to “Who exactly should be involved with this buying decision?” are bigger barriers for you winning a corporate contract than say, another competitor in your space.
That’s why your marketing materials and content have to speak to all of the discussions that are happening a long time before a big company decides to get something or service just like the one your company sells. Yes, you nevertheless still need to handle why your service or product offering is the most suitable choice. However, it’s just as vital that you educate prospects on the business enterprise case behind why it’s worth solving a specific problem and the very best approach generically speaking.
Corporations are well aware they have to innovate. However, in addition they understand that making wholesale changes could be both risky and expensive. Innovative solutions usually haven’t had the opportunity to establish a background, and implementing these new ideas often means ripping the rug out from under established processes or needing to retrain employees. These domino effects – not forgetting adoption costs – aren’t always fully appreciated by entrepreneurs if they are pitching their cutting-edge ideas.
That’s why corporate decision makers advise entrepreneurs to temper innovation with pragmatism. Just to illustrate: throughout a recent presentation I co-delivered with two Fortune 500 brands at a veteran business proprietor conference, among the corporate leaders implored the audience to keep in mind that innovation doesn’t necessarily need to be something completely new the world hasn’t seen before. Innovation often means making one small yet groundbreaking change that creates a multiplier effect in results. It’s that sort of incremental innovation that may