Enterprise sales can stem from any sales cycle if the impact is vast and the business is large. Enterprise deals can only be done with companies that have over 50 employees. Large companies will have many stakeholders, competing priorities, and higher risk on enterprise deals. This means small and medium businesses are out of the question.
An enterprise sales example could be selling new software to a large company while getting rid of the old software. There are many factors and pain points to look at before coming up with a custom solution. A complex sale comes with different deal sizes and a long sales cycle that could change a business problem.
When enterprise sales reps make qualified leads purchase an existing product, that can make company and industry news. Having further growth for the company through enterprise selling can open up your total addressable market. This means more customer relationships and more potential customers. Good salespeople sell lots of enterprise customers a product. But an even better enterprise sales rep is focused on crafting working relationships.
Much of the sales cycles are initiated with transactional sales, a straightforward form of sales. The transactional sales model mainly has lower risk and few stakeholders, but not always. The enterprise sales model is a longer sales cycle and buying process. Traditional sales have standard low-cost products while enterprise-level products are more expensive.
Because there are multiple decision-makers and complex sales, an enterprise sale has its own pace of progression. The enterprise market is lucrative but requires enterprise salespeople to be more tactful and flexible with key factors.
What Is The Enterprise Sales Process?
Kennected‘s director of enterprise sales has got the sales process down to a science. Stirling Curran knows the decision-making process and works to develop a sales strategy for each enterprise deal. He broke it down into some key targets of interest that anyone can take away from.
“In enterprise sales, you’re going to start with an initial discovery process,” said Curran. “Often, you’ll find these organizations don’t know they need your product or service, but they know it’s out there.”
Once a business takes the time to look at your product, they may move into the next sales process phase called recognition of needs.
“This is where they’re evaluating internally, figuring out if there’s a fit or need for your product or service,” said Curran.
Next, the customer is moved into the evaluation of options stage. They’ll be evaluating the company and competitors. The resolutions of concerns stage come when enterprise customers know your product is a good fit.
“There will be a couple of concerns depending on what the product is,” said Curran. “Sometimes it’s technical, security, or budget.”
The last phase is the implementation stage, where decision-makers include the product into their company.
How To Build An Enterprise Sales Team
An enterprise sales team should be built on six main key influencers: the sales leader, the account executive, a digital advisor, a solution architect, a customer success leader, and a business development representative. These key influencers work in multiple departments to make customers successful in their sales cycles.
A sales leader or vice president of sales, oversees the sales process, strategy, and ensures the financial success of the sales team. Kennected’s vice president of sales Chris Hoffmann is our main guy for all things related to the sales team’s efforts and sales cycle. You can read more on Hoffmann’s comments about leading sales reps and sales teams here.
An account executive works with new and existing customers to maintain positive working relationships. They place themselves in the customer’s shoes, adapting to the evolving sales business and acquiring new business for the sales reps.
The digital advisor helps create and plan finances for clients in the sales business. You can see how this position would be extremely helpful in the prospect’s world in enterprise sales. The enterprise sales process involves a hefty price tag and a higher price point, so working with large amounts of money should be left to the experts.
Using self-service tools, digital advisors ensure clients have the tools they need to succeed. They digitally work within the mid-market or a larger business. A digital advisor assists on a case-by-case basis for each enterprise deal and can even initiate deals on behalf of a client.
Solution architects work with a business to see how IT can support their needs via software, hardware, or infrastructure. Any technical difficulties with the enterprise software are sent to the solution architect, who ensures everything is up and running smoothly.
To ensure lasting customer relationships are maintained, the customer success leader is proactive in working with customers to transition from prospects to active users. As long as customers remain active users in the sales cycle, they’ll ensure they stick around.
Solving pain points and having a marketing team obtain leads isn’t the only main objective for sales. You want to make sure your business is not only getting those enterprise sales, but keeping customers as long as possible.
A business development representative is your standard sales rep who works through the transactional or enterprise sales models to turn leads into active customers. Their methods include cold calling, emailing, and promotional events. The sales representative is a sales team member that puts thoughts into action.
We sell enterprise sales software that goes beyond just a handful of board approval. We have whole companies that use our number one LinkedIn lead generation tool Cloud Kennect. It’s an automated tool that works on LinkedIn to gather leads and provide even further expansion of your overall network. We’re unique in this lead generation approach which thousands of testimonials have proved.
Complex sales and transactional sales will be reflected in a business’s annual report. The annual report documents the performance of a business in the previous year. The sales leader’s effort will be shown, as will enterprise sales progress and more. Regardless of whether the report is positive or not, the business will know how to work for the year ahead.
Improvements and what’s working for the sales leaders and sales reps will be discussed in earnings calls. It’s a group conference either in person or virtually that discusses the report and progress of enterprise sales and sales overall.
How Do You Get Into Enterprise Sales?
To work in enterprise sales, sales professionals should have more experience in sales than the average person. Approximately 62% of enterprise sales professionals have a bachelor’s degree in marketing, business, or a related field. Much of enterprise sales involves a high level of communication and networking.
Because enterprise sales have a higher risk, sales professionals should know how to assist beyond automation and self-service tools. They have to be adaptable and expect change as enterprise sales often do. This is why the enterprise sales model favors the sales team and clients.
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