Key Account Selling
Key account selling is
hauling in the big fish. It is landing a sale or contract with a large
corporation. But if you want to play with the big businesses you need to know
not just what their needs are, but how they think. What you might consider as
great product or service might be a waste of time in their eyes. Let’s take
apart this golden ring and see how we can increase our chances of success in
key account selling.
Do your homework
Your initial due
diligence is essential in key account selling. You must know as much as
possible about the target client. When it comes to sale time you will only use
a small fraction of what you know, but the background knowledge will show in
your confidence level. And if you do need to answer something specific, you can
speak at their level of knowledge.
Incorporate the whole
team
Your entire
organization should be involved in the planning of key account selling. Every
department should be on the same page contributing all they can to the common
goal. The plan should be written down in straightforward language that everyone
can understand and follow. Premeditated and coordinated efforts will pay off
later.
Shoot for the top
If you are trying to
accomplish key account selling starting with lower management you are in for a
lot of disappointment. You need to go for the boss. Yes, get an interview with
the CEO or at least at the executive level of decision making. Don’t talk to
someone that needs to ask their boss. Be persistent and learn the language that
gets your foot in the door (more on this later).
It’s not about you
The large corporations
are egocentric. They are only interested in hearing what fulfills their needs.
This concept is essential in key account selling. You must know what they want
to hear otherwise you will find yourself on the other side of the door. The big
boys are interested in the bottom line, or lines, of time, money and risk.
Time saved on improved
production speed is attractive. Give them this. Money made on increased sales
or money saved on less waste is good. Let them have it. Risk reduced with
higher quality – for the same, or better, price – is music to their ears. Let
them hear it. These key areas are the entry points for key account selling
success.
Remember it is a
relationship
It’s not just I have X
product or service for you, it’s more I’m going to make your life easier. I’m
going to allow you to do the same thing you are used to doing, but faster and
cheaper. I am committed to the exact same values and goals as you are, and I
understand you. This is key account selling – a mutually beneficial and bonding
relationship.
