In business, the biggest rewards come from winning the largest clients. Companies that do it successfully often grow their revenues at double-digit rates and gain tremendous notoriety.
But how do actually nab these clients and bring them into your brand? That’s where this post helps. We look at every stage of what you should be doing to get these high-value offerings and thrive as a business.
Point Out The Win-Win
Negotiations can sometimes feel like a situation where one person is winning and the other is losing. The seller is always trying to command a higher price, while the buyer wants a lower one (with more perks thrown in for good measure).
That’s where the art of formulating win-win solutions comes into its own. If you can be creative enough to show large enterprises how they can benefit from your services with minimal cost to them, they are far more likely to give you the go-ahead and start paying.
Be sure you don’t undervalue your enterprise. Show them that they can get better results with you by spending the same amount of money on their existing approaches.
Quantify, Quantify, Quantify
You also want to ensure that you quantify the gains a company could expect from using your services. Doing the behind-the-scenes math and showing them various scenarios will help to give them confidence that going with you is a good decision.
Don’t assume your clients fully understand the value proposition in advance. Many firms operate sub-optimally, believing the returns to investment of some services simply aren’t with it.
That’s the same for high-value individuals or private consumers. Many have a thrift mindset that prevents them from spending large sums of money on activities that could also make them better off.
Wine And Dine Them
Another classic approach to winning big clients is to wine and dine with them. Filling their stomachs with delicious food while proposing various business solutions can be an excellent way to get them on your side.
If you are entertaining numerous prospects, then you might need assistance. Catering for corporate events is notoriously challenging and something best left to the professionals.
If you are dealing with a smaller group or just one or two people, then taking them out for dinner can work, too. Just make sure there are no conflicts of interest first.
Tailor Your Approach To The Client
You should also tailor your approach to big clients and give them special treatment you wouldn’t offer to smaller buyers. It’s not always fair, but when it comes to business, your bottom line is what matters most.
Remember, the margin between choosing your solution and that of a rival can be small. Often, it is the tiniest thing that can swing the balance in favor of the competition.
Therefore, you’ll want to make it clear to prospects you can be flexible. Get them to come to you with their demands and tell them what you can deliver. Don’t be afraid to ask for more money if their requirements are going to make life difficult for you. Clients paying six figures often have substantial budgets that give them the freedom to purchase the bespoke solutions they need.
Another tactic for winning these big clients is to seek referrals. Getting other companies of a similar size and status to provide testimonials about how great your services helps to swing the pendulum in your favor. Having this social proof makes it more straightforward for company decision-makers to go with you instead of a rival.
You can use your referrals in advertising and also forward them to prospects to build trust. The more you can gather, the more likely it is that larger contracts will come your way.
If you aren’t networking already, you could also try that. Getting your brand in front of companies able to purchase your high-ticket items is a powerful form of marketing, especially if they can talk to you in person.
Attend industry events and join online communities. Also, start non-pushy conversations with clients to get them interested in what you do. Show them the solutions you provide other firms and how much more straightforward you can make their operations.
Become A Thought Leader
Finally, you might want to consider becoming a thought leader in your industry. Being a force for education and knowledge helps to build trust and makes clients more interested in what you’re doing.
Don’t worry if you don’t have years of experience. Simply position yourself as the industry leader and prove it with publications and speaking engagements.