Corporate Sales: Characteristics and How to Optimize Them

With the development of technology and innovation, business opportunities are also increasingly varied. The emergence of the B2B business trend that is also growing makes corporate sales an important thing to understand.

By definition, the term sales refers to all activities involved in selling products or services to consumers directly (B2C) or businesses (B2B).

This article will present information about the definition of corporate sales, characteristics, and how to optimize it. If you are currently working in the B2B or Business to Business field, read the review until the end, okay.

What is Corporate Sales?

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 aim to improve operations or support business activities that a company already has.

So that the company does not interact directly with individual consumers. Instead, it focuses more on providing services to other companies so that their operations run more efficiently.

Common terms used about connected relationships in this context are vendors and clients. 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.

Characteristics of Corporate Sales

Target Audience

The first characteristic of a corporate sales is its target audience.

The target audience for corporate sales consists of businesses, organizations, institutions, or government entities, not individual consumers.

In determining the target client, you should pay attention to the company profile, business goals and needs, sales cycles, and business challenges.

Building Relationships

In B2B sales, building and maintaining strong relationships with clients is very important.

A good relationship will have an impact on trust which ultimately forms long-term cooperation.

To create a good relationship, use effective, honest, and transparent communication. You can also try to take a personal approach with decision makers from the customer company.

Greater Transaction Value

The next characteristic of a corporate sales is its 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 value adjustments compared to direct sales per unit.

Longer Sales Cycle

B2B sales cycles are usually longer than retail sales directly to individual consumers.

This is due to the complexity and number of parties involved in decision making. Corporate agreements usually 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.

How to Optimize Corporate Sales

After understanding the characteristics of corporate sales, it's time for you to find out how to optimize them below.

Increase Product Knowledge

If you are responsible for generating B2B revenue in 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 a deep understanding, you can explain well and potential customers will be easily convinced.

Take the time to ask small things to potential customers to find out what you can help them with.

Collect Database

After knowing what to sell, it's time to find customers. Instead of approaching them right away, you should start by collecting the database first.

The database will help you build a mapping of who can be your prospects. Categorize your database into small, medium, and large customers first to make your work more effective.

Learn More About Customers

Getting to know your customers more deeply will make it easier for you to understand what they need and what they can offer.

Information such as company culture, number of employees, budget for the products sold, you need to find out before starting pitching.

Find out the paint points they have and how your offer can be a solution to the problem.

Prepare a Sales Pitch

Your sales pitch must be clear, concise, and persuasive.

At the beginning, explain the background of your company. Who your company is, what the company does, and why the company can be a game changer that changes a difficulty.

Then use the approach, "Sell the Problem, Not the Product" aka sell the problem, not the product. What is meant is, rather than emphasizing what your company sells, it is better to emphasize the solution to the problem being faced.

Follow Up

You may immediately get the word, "Yes" after the presentation, but that rarely happens.

To make sure, don't forget to keep following up. This can be done by phone or email.

Ask how far your offer has been processed and whether or not there is a possibility to proceed to the agreement stage.

That's the information you need to know about what corporate sales are, their characteristics, and how to optimize them. Effective corporate sales management will generate long-term company profits.

Corporate sales is one of the businesses that can be run in 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 improve your understanding in the field of marketing and be able to apply it in determining marketing strategies in a company.

In addition, you can also develop potential collaboration with other functional executives in the company and much more.

This program will be held on October 7, 2024. So, don't forget to register now via this link.