Achieving a Successful Sale in a Complex Deal
The B2B marketplace has evolved and pivoted to focus on customer-centricity. Businesses are forced to find creative ways of capturing the buyers’ attention in a business marketplace, especially when it comes to complex sales.
Securing complex sales requires a precise understanding of the client’s pain points as well as the nuances of their industry. Let’s discuss it further.
A Quick Glance at the Complex Sales Process
A typical complex sales can last over six months, with deal sizes crossing seven or even eight figures. It is not easy to convince prospects to close since you’ll need to pitch your deal multiple times to different stakeholders. If the average B2C sales cycle closes in just one touchpoint, the average complex sales cycle will then take 20 touchpoints.
Business Brokers have to make sure they reach the right people in the right places and at the right time. This could be a challenge because key decision-makers don’t have all day for pitches and are very sceptical about business deals.
A key challenge is to educate enterprise buyers on how the offered deal can solve their pain and bring them good returns.
The large price tag can be a problem because many stakeholders are simply not interested in allocating the right budget to close the deal. As a result, business brokers have to choose their words carefully and reach out to key decision-makers. A good idea is to reach high-level executives, the owners of the companies or high-net individuals directly because they have the authority to invest money in another business.
A complex deal should be approached with the right strategy by educating key decision-makers, and not objecting to problems but instead being creative about the issues and offering solutions through the process – even if they seem uninterested at first. Never let your emotions come in the way.
Focus on a Strategy
The enterprise sales process starts by identifying ideal buyers. Here’s what you should know:
● Create your ideal buyer profile.
● The type of companies or industries that may be interested in your business.
Targeting the Key Decision Makers
Your ideal prospects are key-decision makers who have control over expenditure and unique insight into how the business operates and private individuals who are simply looking for a good opportunity. The best way to reach these decision-makers is by developing an audience and conducting market research or by approaching a business broker who already has a relationship with those buyers. All of these will assist you in finding your ideal buyer and concluding the business sale transaction smoothly.
Educating the Key-Decision Makers
As mentioned earlier, key-decision makers are always sceptical about complex deals. Typical marketing processes – such as reaching out to their inbox – will not convince them. Worse still is the fact that key decision-makers are not easy to reach. Your best bet is to find content that can resonate with them. This is where the importance of working with an established successful Business Broker comes into place.
You’ll need top talent to pitch your deal to key stakeholders in a way that grabs their attention. If you need further guidance, especially if your deal involves selling a business, get in touch with me, Serdar Kabul from LINK Business Broker - 1st Business Broker of the Year 2022 Ellerslie Office/LINK Business.