What is Enterprise Sales?

Enterprise or complex sales is a demanding yet rewarding field that offers considerable effect and exciting opportunities. Unlike SMB sales, which often involve brief transactions with a single decision-maker, enterprise sales concentrates on providing outcomes and building long-lasting customer relationships.

What is Enterprise Sales?

Enterprise sales involve selling complicated solutions for large organizations. These deals often include products with noteworthy business impact, multiyear contracts, complex implementations, and elevated risk. The sales process typically involves numerous decision-makers and stakeholders, requiring a strategic and consultative process.

Enterprise Sales vs. SMB and Mid-Market Sales

• Scale and Complexity: SMB and mid-market sales usually involve faster sales processes and fewer decision-makers. In contrast, enterprise sales deals are more extensive and complex and involve numerous stakeholders across different departments.
  • Example: Selling a copier to a local law firm might involve a single meeting with the owner, leading to a quick sale. However, selling the same copier to an international law firm involves ensuring compatibility with existing systems, meeting heavy output demands, and navigating a multi-stakeholder decision-making process, often taking several months.
• Sales Cycle: The sales cycle, which refers to the time it takes to close a deal, is significantly longer in enterprise sales. While SMB deals might close in a few days or weeks, enterprise sales cycles can span months or even years due to the need for thorough evaluations and multiple approvals.
• Decision-Makers: Enterprise sales involve numerous decision-makers from different departments, each with their own concerns and requirements. Understanding and addressing these varied needs is crucial for closing deals.

The Power of Enterprise Sales

1. Building Brand Credibility: Closing deals with well-known companies like Apple, Amazon, or Disney enhances your brand’s credibility and helps build momentum. These marquee clients are potent testimonials and case studies showcasing your company’s ability to deliver high-value solutions.
2. Revenue Growth: Enterprise deals are significant, creating a stable revenue base. These deals often include upselling and cross-selling opportunities, further increasing revenue. Additionally, multiyear contracts provide recurring revenue, offering financial stability and growth.
3. Long-Term Relationships: Enterprise sales cycles and the resulting contracts are long. This extended engagement helps build lasting customer relationships, leading to loyalty and further business opportunities.

Crafting a Robust Enterprise Sales Strategy

1. Identify Scalable Products: Focus on products that can be implemented at scale. Cloud-based software is an excellent example, as it can be easily and quickly produced without many dependencies. Tailor your offerings to meet your customers’ scalability needs, considering consumption-based pricing models if necessary.
   • Example: A cloud-based document management system that can be scaled by adding licenses as the customer grows is a prime example of a scalable product.
2. Target the Right Prospects: Narrow your focus to enterprises that align with your offerings. Research and analyze prospective enterprises, ranking them based on how well they match your product. Use sales tools with automation to identify and nurture the most effective leads.
   • Example: Use a sales tool to identify enterprises that need a scalable document management solution and focus your efforts on those high-potential leads.
3. Adopt Solution Selling: Engage deeply with customers to understand their challenges and tailor solutions. Customer engagement involves ongoing conversations, active listening, and building relationships by showing customers you appreciate their business.
   • Example: Rather than presenting a generic pitch, craft your presentation to address the specific document management challenges the customer faces, demonstrating how your solution can solve these issues.

Forming an Enterprise Sales Team

1. Understanding Team Structure: Most enterprise sales teams have three layers: management, sales reps, and support. Each layer plays a crucial role in driving sales and supporting the team.
   • Common Enterprise Sales Roles:
     • Sales Leader: Directs the sales team and integrates sales channels to plan and achieve growth.
     • Account Executive (AE): Manages existing customer relationships and finds new opportunities.
     • Digital Advisor: Develops digital transformation plans incorporating the latest technologies.
     • Solution Architect: Demonstrates how solutions can be integrated into the customer’s tech stack.
     • Customer Success Manager: Enhances customer experience and drives product adoption.
     • Business Development Representative (BDR): Generates new, qualified prospects through outreach.
2. Hiring for Traits: Hire for character and train for skill. Look for candidates with a balance of long-term vision and short-term urgency, curiosity, creativity, grit, and leadership abilities.
   • Example Traits:
     • Long-Term and Short-Term Balance: Ability to play the long game while achieving immediate wins.
     • Curiosity and Creativity: Continuously learning and finding innovative solutions to customer problems.
     • Grit: Resilience and determination to overcome setbacks and keep pushing forward.
     • Leadership: Ability to bring together sales, support, and customer engagement to achieve goals.
3. Training and Development: Invest in sales enablement to provide ongoing training and coaching. Sales enablement helps your team develop the skills needed to excel, such as mastering sales calls and upselling techniques.
   • Example: Implementing a sales enablement platform that includes regular training sessions, role-playing exercises, and access to a library of best practices.

Essential Enterprise Sales Tools

Equip your team with the right tools to streamline processes and improve effectiveness:

1. CRM Software: Capture and manage all sales data, ensuring everyone can access the latest information. Examples include Salesforce and HubSpot.
   • Example: Using CRM software to track customer interactions, manage sales pipelines, and generate sales forecasts.
2. Sales Engagement Platforms: Make CRM data actionable, helping reps connect with customers effectively through their preferred channels.
   • Example: Utilizing a sales engagement platform to automate follow-up emails, schedule calls, and manage customer interactions.
3. AI Tools: Leverage generative and predictive AI to personalize outreach and forecast sales. AI tools can automate routine tasks, provide data-driven insights, and enhance decision-making.
   • Example: Using AI to generate personalized email content based on customer data, improving engagement rates and conversion.
4. Sales Mapping Software: Visualize territories and opportunities to manage large accounts effectively. Sales mapping software helps you organize and prioritize leads based on geographic and demographic data.
   • Example: Implementing sales mapping software to identify high-potential areas for new business and optimize sales routes.

Elevate Your Enterprise Sales with Revenue.io

Revenue.io offers solutions that enhance your enterprise sales efforts with AI-powered insights and automation, helping you close deals faster and more efficiently. Explore Revenue.io’s suite of Enterprise Software tools and see how you can transform your sales process today. Ready to elevate your enterprise sales strategy?

Contact us for a demo and start closing more deals with confidence! By following these guidelines and utilizing the right tools, you can master the art of enterprise sales and drive substantial growth for your business. Remember, the key to success in enterprise sales lies in understanding your customers’ needs, building strong relationships, and consistently delivering value.

Listen to our Podcast on Strategic Enterprise Sales, w/ Salman Mohiuddin to learn more. Salman Mohiuddin is a Strategic Enterprise Sales exec with Asana.