So you want that $1,000,000 deal, right?
Your company's website is a conversion machine — you're doing SEO, PPC and email nurturing, and you're following all the inbound marketing best practices. Months go by, and you're seeing some really great prospects come through. You get a fair amount $10,000 or $50,000 contracts, but you're still searching for that dream contract that's going to pay for your kids' college.
Well, hate to be the one to tell you this, but you have about a 0.8% chance of getting that big million-dollar contract from a first-time customer. Think about your own business — do you give out big contracts to people you've never worked with before? Nope. You want someone you've vetted with a few smaller projects before you trust them with more of your business, and your customers are no different.
Much like in your prospect nurturing on the marketing side, you're going to have to develop that supplier relationship before they roll out the red carpet, which is one of many things we reaffirmed in our 2016 Industrial Buying Habits survey.
We knew you'd be interested in stats such as "79% of industrial buyers awarded contracts up to $50,000 to first-time suppliers in the last year," so we put a number of findings in the below SlideShare to make it easy.
If you want a deeper look at the state of buying for the industrial marketing space, download our updated report for 2018 here.
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