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It is a long-term game to win Strategic Account. We cannot work the way we work for all other new accounts. It may take 2-5 years to win such an account.
When we look, it looks like every salesperson puts in hard work and works perfectly. Some win small business or medium-sized businesses but only a few have the capability to crack Large-scale businesses.
Various reasons behind such success are the skills, strategy, process, and planning.
Once he/she wins the key account, it is like a marriage agreement😊. The business continues even if there are little issues customer will not change the make because even for them it is not so easy to replace. I have seen some suppliers enjoy making good profits in the spare part business. The salesperson enjoys the fruit and work bindaas😊
Some of us expect quick and easy results hence we do have the patience to work with Strategic accounts to enjoy the benefits later.
If you win such a big account, you will have a good name in your organization. That is where you can show your real performance.
I have been working in my organization for more than a decade and have seen many such results. The feeling is so great when you win such an account and look BIG VALUE in a single order😊 and when you share that order with your boss. How many of us staying and enjoying such fruit in the organisation☹
The biggest problem it is faced by many organizations nowadays is that many salespeople do not stay in an organization for more than 2 years in such cases, it is not possible to work with such a strategic account.
In the beginning - More effort = Fewer results;
After win - Less Effort – More results.
Tips to win Strategic Account:
Leverage Relationship🤗
Your intention in the initial stage is not winning, it should be building relationships. Sometimes, add flavor to your conversation by talking personally and knowing them better.
Example: Recently, I met a customer for the first time, and end of the conversation I observed a swami vivekanda quote on the wall of his cabin, I said we also followed his quotes and his practices. Then the conversation opened up, he started saying he is a Tamilian married to a Bengali girl, he had taken blessing from Maharaj in Belur mutt (Ramakrishna Mission), and so on. We spoke 20mins about this topic which he says he never shared with others.
Proactive communication☎️🗣️
Before a customer asks for any clarification, you must proactively call, discuss, and understand the situation which helps in building trust and the customer will have open communication. I have seen in my experience, my customers talk so openly in many confidential discussions because of the trust.
Ex: If you send technical datasheet, call, and discuss anything they are not clear.
Compromise on small investment🎁:
We may get objections on freight terms, free samples, and commercial decisions at the initial stage. If such small investments create hurdles to win such business. Take commercial decisions wisely to win such an account.
Analyse customer data📝
You need to have complete knowledge about the projects, who is the competitor, why the customer needs to change, what benefits he gets from it, etc.,
Value-added service🤝🏆
Do not take action based on the initial results, initially, the numbers are less but you know the end results. Work towards the long-term results. Add value wherever possible and grab the opportunity to meet face-to-face discussions when possible.
You will not be motivated if you expect immediate results.
Over-deliver🌟
If you want to win over the competitor who has been servicing those last many years such accounts. You need to over-deliver in terms of service, on-time support, etc.,
Pricing Strategy💰
You need to work perfect pricing strategy to win such an account. Some development cost would be there if you develop a customized product, you can sign a long-term contract and cover the development cost or work out the special pricing with an annual qty agreement if your price wants to be attractive and acceptable.
Set the Milestones🏅
Initially, the numbers are very low at least the first 2years. Success should not be measured on sales, it needs to be measured on milestones, set the milestones, and monitor the progress. Crossing each milestone is the winning.
For example, making offers, submitting samples, samples testing satisfactory, etc.,
Be available📅
Initial development time, Customers are in need of your service hence you need to be available when they are in need.
Persistence🚀🔍
Never give up, you will face many rejections initially. The customer will not respond to you. You must put consistent effort into getting an entry.
Even getting the right contact is not easy, you have to really make an effort to identify the right contact.
Winning Mindset🏆🌈:
First and foremost, have a winning mindset that you will be going to get the business. If you don't be convinced to get the business, you never win.
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