Before you focus on company size, there are some important prerequisites you should first satisfy. We reach larger companies through four essential processes, which include:
- Buyer personas
- Product/market fit
- SMART goals
A buyer persona is a semi-fictional representation of your ideal client based on real data and some select educated speculation.
As a good starting point, a primary and secondary buyer persona are a good place to start segmenting the most important decision-makers that you want to attract. Starting off with a large number of buyer personas, such as five is too ambitious. However, this could be a four-month goal of yours.
Has your company achieved product/market fit? Product/market fit means your business knows:
- Exactly who your ideal buyer is
- Exactly what your products and services are
- At what price points you are selling your products and services
In most cases, when discussing monthly recurring revenue, it is the length of the contract or agreement. If you do not have at least three-to-five ideal clients to match up with each of your buyer personas, you do not have product/market fit yet.
Before you step on the gas hard, it is important to achieve product/market fit.
You should have a good handle on the following metrics:
- Average client lifetime value (LTV)- the total a client will spend over the lifetime of working with you.
- The cost of client acquisition (COCA)- a fully loaded number that takes into account all of your marketing and sales expenses including amortizing salaries. COCA figures out what it currently costs you to bring on a new ideal client.
Product/market fit and lifetime value make an enormous difference as to what you can afford to invest in attracting the right website visitors from larger companies; this must be quantified with upper and lower bands when talking about the bottom and upper end of the range and to depict what is larger.
For instance, some companies that have 25 employees may consider themselves as large, and for others that would not be considered enterprise. You need to have upper and lower bands and be super specific about quantifying size.
Where can you win the most business? Where can you deliver most profit? It comes down to important framework we call SMART goals.
SMART goals and buyer personas are not effective if they are general or vague.
The Bottom Line
With all of this, strategy has to come before tactics. Often, companies solely focus on blogging, social, keywords, or video but have no idea what their strategy is; that is how you spin your wheels and end up wasting a ton of money, time, and resources.
If you are serious about attracting visitors from larger companies, your business should have a strong understanding of:
- Product/market fit
- The average lifetime value of a larger company
- What can you afford
- What you have historically invested in acquiring a large company
- Your goals
No matter what the overall picture is, you must be focused on your strategy before attempting any tactics to attract visitors from a larger company.
Is your sales team capable of attracting website visitors from larger companies? Let us know in the Comments below.
If you are interested in learning more about attracting larger clients, enroll now in our free 7-day eCourse: Go-to-Market Strategy 101 for B2B SaaS Startups and Scaleups.
Topics:- B2B Sales Strategy