Our proven 3-step process to close enterprise deals
However, bad news! The techniques for closing a deal are not always easy, especially when you try to close enterprise deals. The biggest difference between enterprise and regular deals is the fact that enterprise clients take a lot of time to close.
A small-medium client needs a few weeks to get the deal done but with enterprises it can take up to 9 months (or even longer!) to get the deal through.
We at Merchandise Essentials have been selling to enterprises for the past 4 years so we know a thing or two about it. That’s exactly why we made a step-by-step guide to show you how you can start selling to large enterprises.
1. Research your target company/niche
First of all you have to know the difference between centralized and decentralized enterprises. Centralized enterprises make the majority of the “big” decisions in their HQ. Decentralized enterprises have a lot of decision power and thus have the ability to choose their own partners, employees, etc. It is very important to distinguish these two so you know which category your prospect is in.
There are lots of tools to do research on your prospects, namely: LinkedIn, Crunchbase, Snovio and many more.
There are a lot of different companies where each has its own way of making decisions. You have the solo decision maker, the board approval and the multiple decision makers.
The solo decision maker makes the final decision. For example, this could be the CEO. This is typical in both large and enterprise-sized companies.
Then we have the solo decision maker who requires board approval. These individuals need approval from other parties when they want to make a decision.
Last but not least we have multiple decision makers. In this process, several people are responsible for a decision. On average, a group of decision makers consists of 6 people. Selling to these types of companies usually takes a lot of time because there are so many people involved, which means that there will be a lot of meetings.
Most enterprises fall in the second category, they usually need a board approval. This means that it can take multiple weeks before they discuss your company because this usually happens on a weekly board meeting, and if there’s something “more urgent”, they’ll discuss that first.
2. Prospecting on enterprise clients
Make it personal!
- Do your research and bring real value to your prospects.
- Don’t waste too much time. Don’t schedule unnecessary meetings and video calls.
- Make the conversation friendly and fun.
- Inform them sufficiently.
- Don’t automate the sales process.
3. Nurturing your enterprise champions
Bring value, all the time. We listed some tips to nurture your enterprise champions:
- Respect their time. Don’t overwhelm them with meetings.
- Set up casual conversations that have nothing to do with work.
- Engage with them on socials.
- Send them valuable content.
- Show a clear ROI.
These champions will help you grow your business! That's why it's very important that you pay attention to them.
These 3 steps are just the beginning, if you really want to take your business to the next level, then you should definitely check out our full step-by-step guide where we give you the 9 step roadmap to close your first (or 10th) enterprise deal!