Letters of Intent (LOI)
When selling your product to an Enterprise company in a top-down sales process (where you are the vendor), there are many kinds of people you’ll meet. Here are the five roles in a selling process who usually matter most: Remember that each stakeholder may have a different goal when considering buying your product. The more junior stakeholder may think your product makes their job easier, whereas a more senior one may like your product because it saves them budget. Your job as you speak to each one is to find out what they care about most, what their incentives are, and what in your product they resonate with most. Accordingly, your talk track for each stakeholder (including your pitch) will shift as a result. Who they are: Why they’re so important: How to know if you’re speaking to this person: Tips & Tricks: If your company is selling a product to large enterprises who make $100m+ in revenue (not startups!) and your product costs $100k per year or more, a letter of intent (LOI), can b
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