The enterprise sales process involves many moving parts contrary to your transactional sales process. Also called complex sales, enterprise sales have multiple decision-makers, a lengthy sales cycle, and a high-risk probability. They’re usually produced by larger companies or a well-established enterprise that’s knee-deep in the sales game.
Because enterprise sales produce high-value deals and a longer sales cycle, it’s essential to build brand credibility before moving beyond transactional sales. Having the sales team relationship building with prospective clients is a sure way for enterprise sales to succeed. And developing customer relationships is something all sales teams hope to accomplish. So what separates enterprise sales reps from your average sales reps?
Maneuvering The Sales Process
The point of the sales process is to bring in significant revenue or a chance for valuable leads to return to your business. The sales process is when sales reps assist potential customers from the beginning of the buying process to the end. But the sales process has to be repeatable and effective in selling products.
You want a sales strategy that’s common knowledge for the sales team. Sales management must have a deep understanding of the business challenges to accommodate and hurdle over them. Sales training prepares every sales rep with sales skills to generate more revenue.
Kennected is a modern startup company that works within the SaaS industry. Since our company’s founding in 2018, we’ve quickly grown our enterprise sales department to handle enterprise customers and enterprise deals at the end of the long sales cycle.
Addressing Pain Points
In standard sales, the salesperson addresses one or maybe two pain points. Enterprise sales have multiple stakeholders; some may want a solution for pain points while others don’t. Understanding the customer’s needs and their goals will help you know where to go and plan ahead.
Working With The Customer
Although the sales company is trying to make a deal, it shouldn’t be all about the company’s benefit. The best enterprise sales teams work with their customers to establish deals, points of interest, and other technicalities which will help keep clients interested in what you have to say.
As life has taught us, not everything goes the way we initially planned. The same can be said for the sales process. Factors can change during the sales process, especially when it can take months to close a deal. Remaining adaptable and flexible with deals can show your professionalism and interest in keeping the lead as a customer. Remember, you’re representing more than yourself during a sales process.
Separate Sales & Consulting
In enterprise sales, some salespeople may forget they’re solving clients’ problems. It’s more than making a deal and money. Incorporate this mindset into every decision you make with clients.
Understanding Sales Cycles in Enterprise Sales
Traditional sales don’t involve as much thorough research and close faster than enterprise sales. Large companies can have many stakeholders involved in complex sales trying to reach an enterprise deal.
Enterprise sales can seem more desirable than other sales because of a high-value proposition issued by the enterprise sales rep. Enterprise sales reps work with enterprise clients to develop an initial working relationship. The two parties hope to reach a proposed solution that will benefit the company and the right stakeholders.
However, enterprise sales are called complex sales for a reason. Key influencers and large contracts mean more pain points, more research, and long sales cycles. Whereas standard sales occur over a roughly 60-day period, enterprise sales can last months.
What Is Customer Relationship Management CRM?
Customer relationship management is the overall progress and tracking of sales customers as they move through their life cycle. This system can significantly help in doing the dirty work for you. This way you’ll have all the information you’ll need on customers. Can you imagine how helpful this would be on multiple stakeholders?
Medium-sized businesses and large enterprises need to keep track of their business relationships because they are the very reason the company is in business. It’s even more critical to keep up with enterprise buyers and each enterprise client. Of course, during enterprise selling, it’s only natural for this process to occur as decision-makers will always be in touch with multiple departments.
Holding a key role in a large enterprise means handling all this CRM data. However, it’s more of a benefit than a hassle as it provides buying history and tracks buying trends in the business. Enterprise deals can become easier as the company can use this data to solve problems and acquire business.
One of the core issues in the sales business is the long game of selling a product or service. A complex sale will need more than a few decision-makers and company knowledge. Some customers may be easily swayed into the enterprise, while other customers may need pain points solved in an enterprise sale.
Multiprotocol label switching or MPLS works with sales to automatically add value to a product or service. The MPLS simplifies an enterprise sale with personalization and sales targeted toward a specific audience.
One of the number one mistakes a company makes when selling products is not targeting the correct audience. It’s important to research who will benefit from the service you’re providing. And then, once you find the leads, getting to know their unique situations begins that customer-business relationship.
Customers want to know a company genuinely cares about their situation, and they should. Companies thrive off helping others by selling their product. It’s a mutually beneficial situation that should be handled professionally and with care.
Enterprise sales don’t have to be complicated. Our business works to train everyone on sales and even enterprise business when there’s a need for it. Enterprise sales should not drive a business’s main source of revenue, even for more experienced companies. Customers will only invest in enterprise sales when and only when they see a company’s growth progressing.
This is another reason it’s difficult for startup companies to acquire enterprise sales. And even then, having other clients and prospects stick with enterprise sales on a reoccurring basis can be another widespread challenge in the enterprise industry.
How Much Money Do Enterprise Sales Reps Earn?
Perhaps one of the main reasons the challenge of enterprise sales is attractive is the potential income employees can take with them. GlassDoor reported on average, enterprise sales reps make a little over $88,000. And even at the lower end, employees are making at least $60,000. So the pros carefully balance with the cons.
At Kennected, we make enterprise sales a business to be reckoned with. Sterling Curran, our director of enterprise sales, will chime in on future blogs, so be on the lookout for those.
In the meantime, enjoy these blogs that focus on our strategies and tips you can take with you.