Becoming a preferred vendor enterprise-wide is the route to multiple assignments and a dependable revenue stream.
Getting inside complex, Fortune 1000-sized companies requires major account development strategies and tactics.
In order to win a major account, the tactics are different from a sales process.
Let's make 3 distinctions between sales and major account development:
1. Sales focuses on getting a yes/no answer to "are you ready to buy?" in each interaction.
Account development takes into account the fact that there are multiple stakeholders.
2. Sales assumes that if you get to the "top" or the "right person", a deal can be done.
Account development understands that each stakeholder group and has a different views of the business challenge. It's much like the fable of the blind people & the elephant; if you're holding the elephant's trunk, you'll describe the beast differently than if you're holding the tail.
3. Sales assumes that it's best to get the first assignment and then move around the organization with the blessing of a satisfied internal sponsor.
Account development,realizing that there are multiple "silos", each with their own budgets and revenue responsibilities, takes the approach of conducting a sales process inside each business unit.
The credibility earned in one business unit or operating group is not always percieved as relevant by another group, even if they are all under the same brand banner.
This series for Blog Off II will take on some of the most common myths about winning new clients
Catherine Mcquaid is a Big Game Hunter in the Urban Jungle. Her clients are mid-sized business services firms who want to win consulting assignments with the Fortune 1000. Trained as a semiotician/literature critic, she now owns a key account development business.
Her strategies for getting into large companies and getting very senior executives to open the door to the C-suite can be used by big game hunters everywhere. She writes on Major Account Acquisition strategies.
Connect / Follow: blog, Twitter, LinkedIn.
To contact directly: email, Skype: cmcquaid
Excellent article, and you are so right about this. Years ago I was a liquor sales person and at that time, the only female. I had a husband and five kids at the time, and in order for them to buy from me the owners of the clubs would tell me, I would have to sit at the bar and spend my money like the other salesman. I had to go home after work, cook dinner, help the kids with home work, etc. You must "work it" if you want that big account. And, it will be a great stream of revenue. Thank you for sharing this.
Posted by: Darlene Sabella | December 04, 2009 at 04:27 PM
Hi Catherine,
I love this article, fits in perfect for my career path.
The biggest mistake amateur sales executives do is not ask for the sale. You must always ask for the sale. You made a great point but putting that as NUMBER 1. Good job.
2. Yes always make sure you are talking to the decision maker, whats the point if your talking to the person who is not going to sign the check, also remember in today's day and age you can get credit cards from secretaries, that does happen quite often.
Be excited about your say, your enthusiasm will spread to those around you and also remember to be positive :)
Great article, I loved it. Keep up the great work.
Posted by: Tim | December 04, 2009 at 11:53 AM