Serious revenue can be made from selling multi-user and enterprise deals to corporations and institutions. But this requires a very different approach to selling individual subscriptions. At the recent Information Industry Network’s Sales Leaders Forum, industry experts discussed the topic – How to Grow Corporate & Multi-User Subscription Sales.
Below are the key takeaways from the Forum:
Decisions are made at the top
Deals are taking longer with an of average 5.4 people involved in the purchase decision today. The MD / CEO is likely to be one of them and so it pays to engage with the top tier.
Focus on the value you add
Clients are buying the impact your product can provide them, rather than the product itself. Finding out just what that impact is should be a priority for any enterprise subscriptions seller.
Be more customer-led
Putting ourselves in our customers’ shoes is vital. The ideal sales approach is the one your customer would describe. They are likely to say it should be: educational, collaborative, focused on their results. There aren’t any shortcuts here; being successful today is all about behaving in ways that our customers value.
Sales and marketing – unite!
Customers are researching more and more before ever making an enquiry. That means a unified approach between sales and marketing is required to change customer perceptions and drive engagement with sales.
Change your mind-set
We need to have the mind-set to drive growth and value in subscription sales. Treat every opportunity as a new business opportunity and grant it the time, effort and resource required to make it happen. Don’t be afraid to call on the big-guns; get editors, senior content staff and CEOs in for the important sales meetings.
Quality still trumps quantity
Finally, for those of us who are a little strapped for resource, focus on quality and not quantity. Find out what good looks like for your business and your market (Flume have a few ideas!) and set your teams up for success.
An action plan for success:
We have created an action plan to help you to grow your corporate subscriptions. This is encompassed in the following three areas:
- Know your market
- Think big and have belief
- Know the value you add for your customers
We share more details on this in the unabridged version of this article which can be found on the IIN Europe website via this link – how-to-sell-corporate-subscriptions-in-2016
Alternatively, please get in touch with firstname.lastname@example.org who can send a PDF version of the full article to you to share within your business.
Flume run sales development courses and programmes within the specialist area of subscription sales. For an outline idea of a course on this topic please see Selling-Corporate-Subscriptions-Course.