Effective strategies for foreign trade companies to develop large customers: top-down and bottom-up methods
In the process of developing large customers for foreign trade companies, it is crucial to understand and master the decision-making structure of the customer company. The level of decision-makers is closely related to their corporate culture and personal habits. A common misconception is to view the buyer, CEO, or head of the marketing department as the only ones making decisions, however, this mindset is not always accurate.
Top-down strategy
Top-down strategies leverage the influence of people in senior positions. By contacting senior executives of the client company, such as the CEO, if they agree to introduce you to people with lower positions, the salesperson can use this relationship to further expand the relationship. For example, when introducing a potential client, you can say: “I talked to Bill and he asked me to talk to you. Can we talk?” This method can often effectively open channels of communication.
However, the risks of a top-down strategy cannot be ignored. Senior executives are often bombarded with sales calls and emails, and may be far removed from specific business details and lack a detailed understanding of product value. Additionally, rejection can happen very quickly if senior management feels there is no need for your product, or has chosen another supplier. Even with a recommendation from a senior executive, junior leaders may be resistant to you because of the threat to their position.
Bottom-up strategy
In contrast, a bottom-up strategy starts by reaching out to lower-level decision-makers within the company, such as product managers or marketing managers. These people communicate more easily and can discuss product details in depth, and their opinions often carry influence within the company. By gaining the support of such people, you can use their connections to promote your product to higher levels.
However, this strategy also carries risks. First, lower-level decision makers may not have decision-making authority and therefore cannot provide comprehensive information. In addition, if they think your product may affect their own interests, they may delay or boycott to protect their own interests.
The balance of strategy selection
Which strategy to choose should be based on an in-depth analysis of your target customers. If the top management of the company is paying attention and willing to listen, a top-down strategy can work. However, when it comes to more complex products or larger enterprises, a bottom-up approach may appear prudent. Identifying key information sources and formulating effective contact methods will help foreign trade companies achieve their goals in the process of developing key customers.
By effectively integrating these two strategies, foreign trade companies can more fully tap customer potential, thereby improving the chances and efficiency of closing deals.