Finding Big Corporate and Institutional Buyers
How small businesses can find gold by targeting big customers
Just as big companies differ from small ones, and wealthy buyers aren't the same as penny pinchers, big customers differ from little ones. To bag them — and keep them — you may need some special strategies and tactics. But negotiating your way through a big buyer's bureaucracy can be tricky. Often there are many layers of individuals involved, and special requirements to meet — some obvious, some hidden. And over time, the people can change, leaving you in a pickle. Steve Kaplan, author of "Bag the Elephant: How to Win & Keep Big Customers" pinpoints these four things you must know:- Who does what. Your contact is never the only one who decides whether or not you get the business. Learn who influences, who buys and who kills.
- How to make their list. Many big buyers only do business with vendors and service providers who are on their preferred list. Your job is to get your name at the top of that list in as many categories as possible.
- The company's unique quirks, lingo and culture. Every big organization has its own idiosyncrasies and language, including acronyms, clichés and nicknames. Learn them all. Study their Web site and marketing materials.
- The boundaries of their budget season. When discussing your product or service, ask when the company budgets and when it makes decisions. So you'll know when to approach. Don't be locked out because you were late.
Sign up for business matchmaking
Business Matchmaking, a partnership between the U.S. Small Business Administration, SCORE and HP, is an ongoing series of regional events that bring corporate and government buyers face to face with small business owners.
Try: Discover how the Business Matchmaking program works. Check the Business Matchmaking site for upcoming events and get the matchmaking FAQs. DiversityBusiness is a top resource portal where small businesses and large organizational buyers link up.
Register to link up with corporate buyers online
The National Business Matchmaking Online Network helps unite small companies with big corporate and institutional buyers via a Web-based network.
Try: Register and get program updates via email and a listing in the system's Small Business Directory. Take the Virtual Workshop. It will show you how to land buyers through this system.
Sign up to do business with Uncle Sam
The federal government's Central Contractor Registration (CCR) database puts small businesses into the government contracting game.
Try: Discover how it works and sign up online. FedBizOpps is the single government wide point-of-entry for federal government procurement opportunities over $25,000.
Know the technology requirements for selling to big business
If you sell to big companies or the government, they expect a high level of tech sophistication.
Try: HP has details and how-to guides to help. The four key areas are security, computer sophistication, operations and accounting systems and Ecommerce.
Get a discount on tech upgrades from HP
HP offers Business Matchmaking program participants a 10 percent discount on direct purchases.
Try: Business Matchmaking from HP has the details.
- As you pursue your big game, lavish them with attention. Return calls and answer questions quickly. Address problems immediately. Be vigilant throughout the entire process, including presentations, quotes, client requests, delivery and follow-up.
- If you land a big customer, and they like what you're doing, they might offer opportunities that seem removed from your core business. Don't pass these up. As challenging as they might seem, consider them a chance to grow your business. Never put limits on what can and can't be done.
- Don't get greedy. Position yourself as a trusted partner in a long-term relationship and you will be well rewarded.
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