Prospecting Large Accounts

Do you truly understand the prospects business?

Many of us in business are always looking to land that one big customer or account. It's the one that puts our business on solid footing for the future.

There are many firms that are successful & unfortunately even more so that are not. I would like to address one of the biggest reasons many fail to "reel in the big fish".

In my humble opinion, we fail to implement one of the very basic principles of business development & prospecting; researching & understanding the goals of the target. Remember, in their eyes, this is all about them; how can you help improve my business?

If you do not understand the key motivators of the target, you will be viewed as just "another salesperson". Have you visited their stores, bought their products, spoken to associates/employees etc?

You need to bring something to the table other than a Power Point with pictures of your facility. Engaging in "canned" answers in your firm's ability to develop product, deliver on time, quality etc. are a waste of time. Guess what, every company attempting to sell at this level better be able to get the basics correct.

Taking this a step further. If you are attempting to sell a large retailer, not only should you understand their business but also that of their end customer. You need to truly understand that demographic. What makes them tick? Speak to customers. What are they buying? Why?

Bring solid, tangible information on how you can improve their business & you too will increase your odds of landing the big one.