Great Questions To Ask When You Are Selling To Large Companies
Small companies/Large companies:
A large company, for our purpose, is defined as one that is 5 to 20 times the size of your company in terms of revenue potential. Many small companies dream of big growth but it takes time and effort. There are 3 ways to get growth: make your sales people stronger through training, hire sales superstars or land big deals. If you want to grow at double the industry average the only way to do it is by landing big deals,
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In these circumstances, the small company should focus on selling to large companies. The basic premise is that large deals can transform a small company. Selling to large companies presents many benefits and will pave the way for more revenue, higher profit margins and accelerated growth.
Select your targets:
As a first step, you should make a short list of potential large companies which meet your criteria. Your sales personnel who are handling this project should seek interviews with company executives and collect as much information as possible. They may use the following list of great questions as guidelines during fact finding interviews,
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Great questions are open-ended questions which will lead people to provide more information than a simple “Yes” or “No” answer. These questions are in random order and designed to get you thinking about what questions you should be asking.
• What are the key initiatives your CEO has put in place for this year?
• How have the recent changes in the market affected your business?
• How have the recent technological changes affected your company?
• What needs to happen for your company to establish the pre-eminent position in the industry?
• What changes can be made in your industry which will improve the profitability of your company?
• What specific changes would you propose if your company were to grow at double the industry average this year?
• What major changes does your company plan to make in the next 6-12 months,
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• If you accomplish your goal will you get a promotion?
• What are the important steps you have taken for improving _____ area in your business?
• On a scale of 1—5 (5 being the best), what rating would you give your company in the area of ______?
• If you were going to do business with us, what would we need to have, be or do to get a rating of a 5 on a scale of 1-5 with 5 being highest,
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• Does the executive staff have membership in any professional associations, charities or other social groups?
• What is the procedure you currently use for selecting your suppliers?
These questions are intended to make the large company open up and for you to get more insight into what drives their business and important initiatives. The key is asking good thought provoking questions that shows you have done your homework and understand their world. If you selected companies that are a good match for your criteria you should expect a very productive meeting.
This exercise will give you a fair idea about where to place the company in your final short list of large companies and whether you should pursue your target of selling to large companies,
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