Focus on Lasting Relationships, Not Short-Term Sales Targets
Tip #1: Play the long game
LHS are large, complex, multi-billion-dollar organizations. Although this can make them harder to approach, it also means the potential for bigger deals once you’re in the door.
To increase your odds of success:
- Build a broad relationship network. Even with homework, it may take time to reach the right decision-maker. Get to know the people you meet along the way; they may later be able to vouch for you.
- Be patient. Even if an LHS isn’t ready to invest today, it might be tomorrow. Concentrate on building relationships that can convert to future deals.
- Offer flexibility. Not every deal needs to be a full marriage; LHS may want to start with a smaller commitment. Right-size partnerships as needed, recognizing the potential for future growth.
Tip #2: Develop a reputation for credibility and respect
Investment decisions can hinge just as much on how an executive ‘feels’ about you as on the compelling ROI case you can make.
Keep the following in mind:
- Compassion is key. And especially so for building lasting partnerships with LHS. You need to understand LHS executives’ priorities and then design solutions that respond to those needs – not what you think they should care about.
- Honesty is crucial. Never over-promise on what your product does, the results you’ll be able to deliver, or the difficulty of implementation.
- Kindness opens doors. Treat executives – and their assistants, who typically have substantial gatekeeping power – with respect when asking for their time and attention.