With the development of technology and innovation, business opportunities are also increasingly varied. The emergence of B2B business trends which are also developing makes corporate sales an important thing to understand.
By definition, the term sales refers to all activities involved in selling products or services to direct consumers (B2C) or businesses (B2B).
This article will present information about the definition of corporate sales, characteristics, and how to optimize it. If you are in the B2B field, aka Business to Business, read the review until the end, OK?
Corporate sales is a process that refers to the sale of products or services from a company to businesses, institutions, or organizations. Usually corporate sales aims to improve operations or support business activities that a company already has.
So the company does not interact directly with individual consumers. Instead, he focuses more on providing services to other companies so that their operations run more efficiently.
Commonly used terms for connected relationships in this context are vendor and client. The vendor is the selling company and the client is the buying company.
In corporate sales, the decision-making process becomes more complex because transactions and negotiations take place on a large scale. Understand the following characteristics of corporate sales so that cooperation can run smoothly.
The first characteristic of corporate sales is its target audience.
The target audience for corporate sales consists of businesses, organizations, institutions, or government entities, not individual consumers.
As for determining target clients, you should pay attention to the company profile, business goals and needs, sales cycle, and business challenges.
In B2B sales, building and maintaining strong relationships with clients is critical.
A good relationship will have an impact on trust which ultimately forms long-term cooperation.
To create good relationships, use effective, honest and transparent communication. You can also try taking a personal approach with decision makers from the customer's company.
The next characteristic of corporate sales is the large transaction value.
Because corporate sales offer products or services not to individual consumers, but to companies, the quantity will automatically be greater.
With this large quantity, vendors usually provide lower bid value adjustments compared to direct unit sales.
B2B sales cycles are usually longer than retail sales directly to individual consumers.
This is due to the complexity and many parties involved in decision making. Corporate deals typically involve one or more departments within a company.
Another consideration is in terms of a more in-depth risk analysis. Matters related to finance, law and security are taken into account in the corporate sales process.
After understanding the characteristics of corporate sales, it's time for you to find out how to optimize them below.
If you are responsible for generating B2B revenue at the company, first understand well what will be offered.
Understand more deeply how your company can be a solution to facilitate the operations of other companies. With in-depth understanding, you can explain well and potential customers will be easily convinced.
Take the time to ask potential customers small questions to find out what you can help them with.
Once you know what you want to sell, it's time to look for customers. Instead of taking an immediate approach, you should start by collecting a database first.
The database will help you build a mapping of who could be your prospect. Categorize your database into small, medium, and large customers first so that your work is more effective.
Getting to know your customers more deeply will make it easier for you to understand what they need and what you can offer.
You need to find out information such as company culture, number of employees, budget for the products sold before starting pitching.
Look for the paint points they have and how your offering can be a solution to the problem.
Your sales pitch must be clear, concise, and persuasive.
At the beginning, explain the background of your company. Who is your company, what does the company do, and why the company can be a game changer that changes a problem.
Then use the approach, "Sell the Problem, Not the Product" aka sell the problem, not the product. This means that instead of emphasizing what your company sells, it is better to emphasize the solution to the problem being faced.
You may get the word, "Yes" immediately after a presentation, but that rarely happens.
To be sure, don't forget to continue following up. This can be done by telephone or email.
Ask how far your offer has been processed and whether there is a possibility of proceeding to the agreement stage or not.
That's the information you need to know about what corporate sales is, its characteristics, and how to optimize it. Effective corporate sales management will generate company profits in the long term.
Corporate sales is one of the businesses that can be carried out within a company's marketing management. You can learn more about marketing management by taking a certified course on Marketing Management from Prasmul Eli.
In this program, you can increase your understanding in the field of marketing and be able to apply it in determining marketing strategies in a company.
Apart from that, you can also develop potential collaboration with other functional executives in the company and many more.
This program will be held on June 14 and October 7 2024. So, don't forget to register now via this link.
With the development of technology and innovation, business opportunities are also increasingly varied. The emergence of B2B business trends which are also developing makes corporate sales an important thing to understand.
By definition, the term sales refers to all activities involved in selling products or services to direct consumers (B2C) or businesses (B2B).
This article will present information about the definition of corporate sales, characteristics, and how to optimize it. If you are in the B2B field, aka Business to Business, read the review until the end, OK?
Corporate sales is a process that refers to the sale of products or services from a company to businesses, institutions, or organizations. Usually corporate sales aims to improve operations or support business activities that a company already has.
So the company does not interact directly with individual consumers. Instead, he focuses more on providing services to other companies so that their operations run more efficiently.
Commonly used terms for connected relationships in this context are vendor and client. The vendor is the selling company and the client is the buying company.
In corporate sales, the decision-making process becomes more complex because transactions and negotiations take place on a large scale. Understand the following characteristics of corporate sales so that cooperation can run smoothly.
The first characteristic of corporate sales is its target audience.
The target audience for corporate sales consists of businesses, organizations, institutions, or government entities, not individual consumers.
As for determining target clients, you should pay attention to the company profile, business goals and needs, sales cycle, and business challenges.
In B2B sales, building and maintaining strong relationships with clients is critical.
A good relationship will have an impact on trust which ultimately forms long-term cooperation.
To create good relationships, use effective, honest and transparent communication. You can also try taking a personal approach with decision makers from the customer's company.
The next characteristic of corporate sales is the large transaction value.
Because corporate sales offer products or services not to individual consumers, but to companies, the quantity will automatically be greater.
With this large quantity, vendors usually provide lower bid value adjustments compared to direct unit sales.
B2B sales cycles are usually longer than retail sales directly to individual consumers.
This is due to the complexity and many parties involved in decision making. Corporate deals typically involve one or more departments within a company.
Another consideration is in terms of a more in-depth risk analysis. Matters related to finance, law and security are taken into account in the corporate sales process.
After understanding the characteristics of corporate sales, it's time for you to find out how to optimize them below.
If you are responsible for generating B2B revenue at the company, first understand well what will be offered.
Understand more deeply how your company can be a solution to facilitate the operations of other companies. With in-depth understanding, you can explain well and potential customers will be easily convinced.
Take the time to ask potential customers small questions to find out what you can help them with.
Once you know what you want to sell, it's time to look for customers. Instead of taking an immediate approach, you should start by collecting a database first.
The database will help you build a mapping of who could be your prospect. Categorize your database into small, medium, and large customers first so that your work is more effective.
Getting to know your customers more deeply will make it easier for you to understand what they need and what you can offer.
You need to find out information such as company culture, number of employees, budget for the products sold before starting pitching.
Look for the paint points they have and how your offering can be a solution to the problem.
Your sales pitch must be clear, concise, and persuasive.
At the beginning, explain the background of your company. Who is your company, what does the company do, and why the company can be a game changer that changes a problem.
Then use the approach, "Sell the Problem, Not the Product" aka sell the problem, not the product. This means that instead of emphasizing what your company sells, it is better to emphasize the solution to the problem being faced.
You may get the word, "Yes" immediately after a presentation, but that rarely happens.
To be sure, don't forget to continue following up. This can be done by telephone or email.
Ask how far your offer has been processed and whether there is a possibility of proceeding to the agreement stage or not.
That's the information you need to know about what corporate sales is, its characteristics, and how to optimize it. Effective corporate sales management will generate company profits in the long term.
Corporate sales is one of the businesses that can be carried out within a company's marketing management. You can learn more about marketing management by taking a certified course on Marketing Management from Prasmul Eli.
In this program, you can increase your understanding in the field of marketing and be able to apply it in determining marketing strategies in a company.
Apart from that, you can also develop potential collaboration with other functional executives in the company and many more.
This program will be held on June 14 and October 7 2024. So, don't forget to register now via this link.
