Selling to the Corporate Customer

Abstract

For bankers to feel comfortable in their relationships with large corporates, a precise understanding is needed of who, within that company, engages the relationship, and how it can be better managed. The corporate treasurer is the first and most impressive obstacle in selling financial services to an organisation but must be dealt with bearing in mind the diverse group of people making up the Decision Making Unit (DMU) that this person represents. The ensuing negotiation will be based on power (the bank illustrating why its proposals are superior to competitors'); time (the bank being aware of the client's deadlines); and information (understanding the degree of client needs, limitations, and willingness to make concessions). In a collaborative atmosphere, the corporate treasurer will be impressed that the bank's aim is to assist rather than exploit.

Citation

Day, A. (1985), "Selling to the Corporate Customer", International Journal of Bank Marketing, Vol. 3 No. 4, pp. 60-70. https://doi.org/10.1108/eb010767