Sun 2 Sep 2007
Whale Hunting is for Experienced (Illinois deer hunting) Whalers
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The term whale is used for many things and it often relates to large, profitable accounts. The term for this newsletter is not about the water creatures that roam the ocean. This newsletter is about the business whales. The precious key accounts most salespeople dream about. The salespeople who handle these accounts are often the most courageous, detailed oriented and experienced in their company.
When you decide to go after a whale, you better bring a large boatload of key contacts and information. Because this is what whales expect. Know your stuff too. Knowing our stuff is important because we can embarrass ourselves and lose future deals by going for the sale too soon and not having accurate information. Whale accounts take time and require us to bring experience and knowledge with us. One thing I’ve learned is that whales like to talk with other whales. They do this because they think at a different level. It is really a decision profile we must learn and identify with. We will get into that later in this article.
Don’t go whale hunting alone
Success with whales can be achieved be anyone who simply has the courage and initiative to take on a whale. The process is often longer but the rewards are so much sweeter. You will need the time because one of the keys to success is to know their business. It is one thing to understand your own business, but it is important to understand the whale’s issues and their problems. Listening has always been a key to working with these accounts. Research into a whales business usually means that we have to listen to individuals who are not at the whale’s level. These conversations and the research at the lower levels pay huge dividends when a salesperson has confirmed what the problems are within a whales company. You will want to bring these people and their issues with you when “the meeting” actually takes place.
The meeting is when the moment of truth appears and all the time and research becomes ripe for a decision. At this point, you better know everything and how the whale thinks. Whales think differently than smaller fish. They look for the big picture. Most of the whales I have worked with, and there have been a lot of them, think the same and have the same type of conversations. They always want to know the line.
Know the right line – top or bottom line
I say line, because it is usually one of two lines. It is either the bottom line because they want to know how much it will save them. It might also be the top line so they know how much it will make them. This is the decision profile we wrote about earlier.
If you are not a whale and you want to sell to a whale, it is always a good idea to bring the largest fish in the company that you can. They will know how to talk about the top and bottom lines. It really boils down to these two lines. How much will you save them or how much will you make them and every large fish or whale wants to know these numbers?
Breakdown the numbers if you can and chart them for easy understanding.
Do your homework. If you are a whale but don’t think of yourself as a whale, fake it as best as you can but remember to toe the line. Keep thinking about why you make your business decisions and relate why they should make the decision to work with you. Just remember, it will either be the top or the bottom line. Asking good questions will lead you to the answer and the right line to use. Top or bottom!
Steve Martinez implements sales management strategies with a focus on automating sales for printing organizations. Selling Magic teaches businesses how to automate and customizing ACT or Outlook with the best practices of sales management while integrating email marketing and technology for greater profits. http://www.sellingmagic.com
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