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.