How Does A Selling Strategy Differ When Selling Into A Publicly Traded Company?

Sales Into Publicly Traded CompanyThe type of company that a representative sells to may influence how they approach the prospective buyer, but this different method of selling is likely not needed for companies that are publicly traded.

A sales management team has to teach their representatives to approach selling to a publicly traded company in the same manner as other businesses. However they need to emphasize the significant amount of material that is available to them in the public domain.

According to Heather Kivett, president of Resolution Systems, Inc., representatives that are selling to these companies are already at an advantage, as these businesses put so much of their information online due to the public nature of the operation.

A variety of reports are often issued by the companies to their stockholders, and a large portion of operating information is on the internet. Representatives need to be diligent in gathering data prior to making a sales call, as there is no excuse for a lack of preparation and knowledge in this circumstance.

“This material can be in the form of either a 10k report or an annual report. You can find out about the strength and viability of a company, along with the history that is available,” said Kivett. “Those pieces of information are available, this is all public knowledge. You can even talk to shareholders and find out things that a representative might need to know in order to close a sale.”

According to the executive, other than the amount of research that is done by representatives, the approach is not likely to differ when it comes to these companies. The same methods still apply, although the expectation for knowledge may be raised by the buyer because of this public information.

Representatives still have to infiltrate the organization in the same way and managers have to emphasize the level of understanding that they have to attain.

“You do your research, find your entry point, develop your internal advocacy and then you move forward from there. You have more information to work with,” said Kivett.

Representatives need to find out their buying process, approval process and how they solicit to vendors when talking to these clients. The only difference is the availability of information that can help salespeople lock down a buyer.