Last post we spoke about how implementing a ‘big-company’ mindset in your business will help overcome the mental obstacles that can get in the way of landing those big clients – or Big Fish. In this week’s post we are going to discuss how to determine who your ‘fish’ are and also talk about potential ‘red tape’ you may encounter along the way.
Now, before you try and land your bigger clients you really need to understand who they are, and stand in their shoes. You need to understand their purchasing habits and procedures. Here we look at four main areas:
- Responsibilities: You need to know who the decision makers are, who does the actual buying and who can kill a deal if they want.
- Get on their list: You need to know how to get on their list of people to buy from. Try to get your name in as many categories as possible for more interaction. Ask about a procurement program and what you need to do to go through the application process.
- Lingo: Learn the companies unique language and communication methods. These could include report names, buzzwords and even the nicknames they have for their employees.
- Financial Budgets It’s essential you know their spending capacity and when they are planning their expenses for the year.
Now that we’ve talked a little about what you need to know about your fish, let’s a quick look at the “red tape”.
“Red tape” is a necessary evil, but one we can learn from. There are two ways to learn from their system:
- Analyze their activity.
- Review their correspondence.
Being an outsider looking in can have its advantages too. If you don’t like dealing with the “red tape”, their employees probably don’t either. Reducing the “red tape’ for them and making the buying process easy will reduce barriers to purchase.
Think of a time when you have gone to purchase something, and thought – this is just too hard, and stopped the purchase.
The things we talked about in this lesson will help you prepare your approach to your ‘big fish’. If you need help with any of this, try our GUIDED TOUR to find the right tools to get the job done.