Imagine a client roster filled with the biggest and best of the country’s hospitals and health systems with names like HCA, Ascension, Trinity Health, Tenet and Bon Secours.
Now imagine working with those clients every day, delivering great service and growing the relationships over time.
Winning “enterprise business” presents unique challenges to selling teams and selling organizations in general. First, you need to understand how selling to large systems differs from the less complex world of selling to small and medium-sized practices and organizations. It takes time, energy, commitment and money – but the payoff can be huge.
Here are challenges we at Sandler see every day in serving our clients selling into the enterprise space, and how to overcome them:
No. 1: The competition is sophisticated and relentless
Your competition for enterprise business will be sophisticated, strategically focused and absolutely relentless. They will come prepared.
The solution: Don’t make the mistake of underestimating them. Understand their who, what, where, when and how. Research their history, relationships and track record with the account you’re targeting. Understand not only their business models, strategies and offerings but the customized value propositions that they are likely to present in a specific pursuit. Act on what you learn. It may drive your Go/No-Go decision about whether to accelerate a pursuit or exit early.
No. 2: The sales cycle can be lengthy
When selling to enterprise clients, prepare to learn patience. The sales cycle can take months and, in some cases, years.
The solution: Know the buyer network so well at the account you’re targeting that you’re informed about its time frames. Have the right people on your pursuit team to ensure effective and timely solution development. Gain your client’s fingerprints on how you plan on proceeding every step of the way. Establish a systematic process for driving Go/No-Go decisions and use it consistently.
No. 3: The investments can be significant
Pursuing an enterprise client requires a significant financial commitment as well as human, managerial and logistical resources. And the opportunity costs connected with enterprise pursuits can handcuff an organization’s ability to take advantage of other initiatives.
The solution: Conduct focused territory planning so you maximize your chances to do what you do best where you’re most likely to be successful. Profile all of the accounts in your portfolio so you can customize account planning and map your resources as relevantly as possible. Use collaborative account planning to ensure that you go after winnable accounts. Save resources by reusing assets effectively so you’re not recreating solutions.
Read the full article at: http://repertoiremag.com/winning-enterprise-business.html
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