Do you want to sell like a Fortune 500 company? Well, who doesn’t? Sales strategies are one of the main things that set a Fortune 500 company apart from the rest. Efficiency in sales strategies is always part of their focus, and that’s probably one of the main “secrets” to their success.
You may think that your business is way too small to try to replicate the sales model of big companies. You don’t have huge teams at your disposal, nor the funds to cover the expenses for complex sales strategies. But, that doesn’t mean you can’t gain valuable lessons from their experience.
Every company has its own strengths and weaknesses that determine its own unique business plan and strategies. If you could find that a successful business uses a one-size-fits-all success formula, that’d be great. Everyone could just copy that model and achieve amazing success. Unfortunately, that’s unrealistic. You cannot simply copy another’s strategy in full and have it work for you.
However, there are some things that we can all learn from the most successful companies and try to fit it into our own business strategy.
How do Fortune 500 companies create sales strategies?
Companies on this list are obviously doing something right when it comes to sales. Let’s take a look at the main things they get right…
They build high-performing sales teams
Many sales managers rely on their intuition when it comes to hiring people for their team. However, Fortune 500 managers believe that high-performing salespeople can be recognized through certain scientific indicators.
Therefore, they always look for certain personality traits that cannot be taught if a person is not born already predisposed. The key traits that successful companies look for are optimism, competitiveness, and a need for achievement. There is a good reason for requiring these traits.
Salespeople face rejection on a daily basis as part of their job. Therefore, the ones that take defeat personally will soon feel frustrated, influencing their future sales endeavors. Optimistic people believe in their ability to win. Even when they get rejected, they are certain that the next sale will be a win.
Competitive people are always in it for the win. They compete with colleagues, with customers, and with themselves. They enjoy the contest of wills. Competitive people naturally have a need to achieve great results. They are never fully satisfied, which results in them setting the bar higher and higher, both for themselves and the company they work for.
They craft a strong pre-sales process
As soon as they form a winning team, Fortune 500 companies prepare for the “battle” on the market with a carefully crafted pre-sales strategy. They usually use a process with clear steps – identifying the ideal customer, identifying the type of customers that leave, and providing solutions for prospects’ problems.
To identify the ideal customer, look at your most profitable leads and see what they have in common. Look at the funnel through which they come. Notice the position of your first contact and what they like the most about your offer. These insights will help you create buyer personas for high-quality leads. This way you’ll know exactly where to focus your efforts in the pre-sales process.
You can also use this process to identify the type of customers that leave. Evaluate who has left and why, and find the similarities between these customers. As soon as you define the type of customers that leave, you’ll be able to redirect precious time, energy, and money on the ones that stay.
When you have a clear picture about who you really want to target, you can craft a more appealing offer before you contact the leads. The evaluation that you make to segment your leads will reveal what they want. You are getting this insight without even having to talk to them. This will help you to position your company as an expert, providing a solution to their problems.
They create trust
This is probably one of the most valuable sales strategies that we can learn from successful companies in terms of crafting effective sales messages. If you manage to create trust, customer loyalty is inevitable. You can do this in a few ways, but the best way is to educate the consumers on how they can actually benefit by accepting your offer.
Think about the things that you can tell your customers to make their lives easier. Sell without selling. Focus on helping people and they will most likely become your customers. When they see that you offer your professional knowledge and experience to help them, they will reward you with their trust. The ideal solution is to connect your free advice with information about your offer.
They sell stories
People today are overwhelmed with marketing and sales messages that try to sell them on something. You can stand out with a story that triggers the emotions of your customers, or simply entertain them. If you take a look at Fortune 500 communication strategies, you’ll see that most of them use stories to share their key messages.
Every product or service has some kind of story. You just need to think about the most interesting facets of your offer and get creative. Depending on the demographic that you want to target, you can share behind the scenes photo collages, customer testimonials, or employee stories. The point is to show the consumers that you are interested in things more important than just selling your goods.
They take social media seriously
Many sales managers are skeptical about the idea that social media can be a serious selling tool. If you are one of them, think about this – 80 percent of Fortune 500 companies are active on Twitter. I think we can agree this is not a mere coincidence.
Social media presence has become an imperative for taking your business to the next level since consumers are there almost 24/7. It helps them engage with your brand on a more intimate level. This results in developing stronger relationships as you have the chance to demonstrate authority and gain trust.
Do not underestimate social media. Use it as much as you can – it’s like having a huge hall full of customers ready to talk to you and hear what you have to say. You wouldn’t want to skip the opportunity.
They automate their workflow
Today’s consumers are used to receiving attention and service even before they become your customers. And customers need even more attention. This inevitably makes aligning sales and marketing a must-have, regardless of the size of your company.
You have to keep comprehensive records about all of your prospects and customers in order to provide outstanding care and keep them interested. This calls for a lot of time, energy, and staff dedicated to keeping everyone happy. This is why sales and marketing automation is one of the sales strategies that Fortune 500 companies use.
It helps them grow interactions with existing and prospective customers. Automation also helps them streamline and measure their marketing and sales tasks. By using proper CRM tools that fit their needs, successful companies manage to build a smooth workflow that produces great profits.
At DemandZEN, we are dedicated to helping our partners craft winning sales and marketing strategies. Moreover, we offer services that provide a peace of mind for you, while fueling your growth. Check out what our team can do for your business.