UNDERSTANDING
THE CORPORATE BUYER
C.J. Hayden, MCC
Selling your services to corporations is an attractive
proposition. The contracts are larger than with small
businesses and individuals, and often longer-term. There's
the possibility of repeat business worth many billable hours
at respectable rates.
But the best clients are not always the easiest to get. If
you don't grasp the realities of the corporate environment,
you may sabotage even a hot lead. Here are five important
keys to working with the corporate buyer.
1. Managers are busy. This is just as true in economic
downturns as during a boom. When business is slow,
unnecessary employees get laid off. The people left behind
have to pick up the slack.
Busy people ignore unsolicited email and letters, and will
not return your phone calls. Even when you are in the final
stages of closing a deal, your contact may not return your
calls for weeks. If you accept this as normal behavior
instead of obsessing about how you may have caused it, you
will sleep better at night and use your daylight hours more
productively.
2. Hot buttons open doors. If you want to capture the
interest of a busy person, you need to tell them exactly how
you can help them. Calling just to introduce yourself will
not get their attention.
What do the people in your target market perceive to be the
greatest problems they face, or the biggest goals they wish
to achieve? Ask these questions of the people you serve and
the other businesspeople who serve them. Read trade
literature or special interest publications and educate
yourself on the key issues in your marketplace. Then tell
your prospects in every communication how you can help
address these needs.
3. Every choice must be justified. When you sell to the
owner of a small business or to an individual for his or her
own use, your buyer is free to make purchasing decisions
based on instinct, whim, or gut feeling. But every corporate
sale must be justified to someone else in the organization.
A supervisor must justify choices to a manager, the manager
to an executive, the executive to the CEO, the CEO to the
board, the board to the shareholders. Each one of these
people wants to look good to the next link up the chain, and
dreads making a public mistake. If you want your sale to go
through, you need to provide your contact with EVIDENCE why
you and your solution are the best choice.
4. The bottom line rules. When you provide your evidence, it
had better include dollars and cents. If you are more
expensive than your competition, what added value will you
provide? If hiring you will cost more than solving the
company's problem in some other way, what tangible benefits
will they receive that make the added expense worthwhile?
Individuals and small businesses buy services in the
category of nice-to-have, often to improve their quality of
life or that of their employees. Corporations, especially in
lean times, don't. You must sell them something they
actually NEED and prove how it will enhance their bottom
line. Real-life examples of results at other companies can
speak volumes. Illustrations with charts and graphs are more
convincing than any brochure.
5. No budget; no project. Even when the company needs what
you have and thinks you're the best one for the job, the
deal won't go through if there's no money in the budget. You
can ask your contact to try for a budget variance, but no
budget usually means your project will be deferred until the
next fiscal year.
Always ask if the client has a budget at the first meeting.
Don't necessarily expect them to tell you how much it is --
price negotiations will come later. But if your contact
can't answer budget questions, it's also a strong clue you
are not talking to the decision-maker.
Copyright
© 2001, C.J. Hayden
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