All too often, decisions are not made on price or product, but ‘because it’s what we’ve done/used before’. This kind of apathy is particularly prevalent in the B2B space; previous experience gives us the false sense of security as we know what faults to expect.
Equally, we often focus our sales and marketing activities on this ‘sweet-spot’. We know what they want, how they think, and where they go to seek information and make decisions. So how do we leverage existing products and services to move up market?
Economies of effort
The effort required to convert a mid-market prospect is often comparable to that required in the enterprise space. So why does apathy take over when the potential for growth is within arm’s reach? With a scalable product/service, engaging with larger organisations and expanding your market is a natural progression of your existing activities.
Build trust
Show evidence of how your organisation have supported the enterprise space previously. Your larger clients will either already be in that space, or have characteristics that will resonate with that audience. Share case studies, statistics and testimonials to reinforce trust and strengthen your brand to your target audience.
Understand your audience
Proactively engaging with your audience in the right way will pay dividends. This is an opportunity to challenge apathy, create interest and a renewed enthusiasm for change. Show your audience that you understand their challenges, and know how to achieve their objectives.
Know who’s who
With longer sales cycles and complex procurement policies, building relationships and rapport with key stakeholders is vital. Understand where and when you can add value, and add value to demonstrate that you are the right supplier for the job. Having the right cultural fit is often just as important as having the right product and service features.
Do your research
Although moving up market can significantly reduce the number of potential prospects, it can also focus your attention on those most likely to buy. Understand how frequently your audience will go to market for a new solution, and who is likely to be transitioning into a new sales cycle imminently.
Moving up market is often a natural progression to generate growth of your business. With the correct planning and research, the right marketing strategy and tactics will challenge apathy and move your organisation into new markets.
To find out how Secret Source Marketing can support your organisation in taking the next steps, request the Source-In Plan today!
