In a broad sense, the enterprise sales process differs little from regular sales. The underlying problem of potential customers will always be different but the discovery process and overall selling are roughly the same.
Business advisors look at the total addressable market and initially reach out to a customer or company that has pain points to work through. The sales strategy is then carefully planned and executed through a long life cycle stage.
“Often, you’ll find these organizations don’t know they need your product or service until they take it back and evaluate it,” said Curran.
Each sale is called a business case which is all about reaching a deal with multiple stakeholders. Business process analysts observe the enterprise sales cycle and determine what’s working and what needs to be improved. They greatly help the enterprise salespeople by making sure they remain competitive in the sales market.
“There will be a couple of concerns depending on what the company’s need is,” said Curran. “The need can have to do with technicalities, security, or a budget.”
Essentially, enterprise sales are a long game of multiple departments working with relevant content to satisfy many stakeholders. In our case, enterprise sales software is being sold in higher risk sales which could potentially bring in more revenue to our company, but require more complex sales.
Visit this past blog that talks about the basics of succeeding in the sales cycle.
Sterling Curran, who is a member of Kennected’s thought leadership team and director of enterprise sales, explains a seemingly complex career that rewards more than SMB sales.
What Does An Enterprise Sales Process Look Like?
The enterprise sales process involves working with C-level executives. Ideal prospects are large companies with a business problem. The sales reps provide solutions to a complex sale. The business solution is a custom solution that has to fit pain points.
The enterprise sales rep explains their product or service to companies and how it will benefit them. Enterprise customers are a part of a longer sales cycle with multiple decision-makers rather than one or two. There’s a higher risk of positive and negative investment depending on if the sales team plays their hand right. Just a handful of SMB sales have a long haul of selling the product or service.
Regardless of whether it’s an enterprise sale or standard sale, developing stronger relationships with key influencers both during and after the sales process can bring you customer success. Sales teams make the mistake of not holding onto working relationships after the sales cycle, especially if there’s a lower risk or deal size. Small and medium businesses can make a difference in the enterprise market depending on enterprise deal sizes.
Read more here on how to craft the best sales team possible.
What Makes Enterprise Sales Different From Other Sales?
Adding onto what was previously stated, the buying process has a long sales cycle and requires a personalized solution from the sales team but the return can be much higher than normal sales. Whereas standard sales have few stakeholders, enterprise sales have numerous stakeholders involved and much prep work.
“Most of the time, you’re going to be talking to sale proprietors or individuals that are going to be paying for the software themselves and using the software themselves,” said Curran.
It can be easy to justify why enterprise selling is the more sought-after career in sales. But with more decision-makers comes more chances of error and complex sales. A typical enterprise sales cycle can last well over seven months. Although the standard sales cycle can last months, it’s not likely.
How Much Do Enterprise Sales Reps Make?
How Hard Is Enterprise Sales?
Closing one enterprise deal is difficult but closing multiple enterprise deals is more difficult. Why? As previously stated, the bigger the business, the more customers there are to work with. This means more services to provide and different stakeholders to work with. So in a simple answer, yes, it’s a difficult career to excel in.
You can be an excellent salesperson but still struggle in selling services repeatedly in new ways. So although many companies may want to be the best or be perfect in their sales cycle, the experience is always changing. The customer may want to achieve a seemingly impossible deal while another customer may want a minimal and achievable solution.
Regardless of which company wants to buy in on your business, your enterprise sales training and sales team should handle the long sales cycle with an open mind. The sales cycle requires aggressive selling while giving the customer a reason to work with you.
If you’re left wondering how you can up your enterprise sales game, look no further. Our business demos are focused on three main results: ease of use, fast results, and consistent performance. Click here to book a demo with Curran as he’ll assist in helping your company reach a solution for a sales issue.
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source https://kennected.org/what-is-enterprise-sales-process/
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