Big Whales

Regarding sales, big whales are large clients or corporations that can significantly impact economies and markets. Whales are high-value potential customers who make booming financial differences for companies and businesses as they purchase products or services in substantial amounts. Whales are often more prominent than the companies they are buying from and have significant buying power, leading to some companies doing everything they can to win them over.

Whales are vital to their respective economies. They can elevate themselves and the small companies they cooperate with financially, building valuable relationships and amplifying their market’s industries.

• Whales in Day-to-Day Business Life: Whales are found in and impactful to many industries and economies worldwide. What makes whales similar is that they have immense buying power and purchase services and products in bulk because of it. For example, video game developers may create special deals for their whale accounts, and restaurant suppliers may offer discounts for buying in bulk.
• Characteristics of Whales: Whales are extremely wealthy entities that have extensive authority and control over operations in their field of business. Whales establish relationships with smaller businesses to foster economic growth for the entire industry and to make these smaller companies dependent on the whales.
• How to Entice Whales: Having products and services that give whales reasons to conduct business with small companies is the ideal method to attract and keep whales attracted. However, whales are time-consuming bodies that may require much more effort. Advertisements of some sort can be made to establish relations with a whale. Over time, by gaining the whales’ trust and respect, small companies can establish long-term business with the whales.
• The Differences Between Whales and Regular Customers: Whales can act as a steady and large source of income if a company’s products and services appeal to the whale for the best price. However, whales require large amounts of maintenance to ensure happiness and satisfaction with service. If whales switch partners and decide to cut ties with a small company, that small company may not have the means to recover financially. Working with whales can risk losing smaller but loyal customers and can result in considerable financial loss.

Big whales are significant factors in many markets and industries, helping develop companies and the global economy. Whales make up a sizeable amount of a company’s revenue—maybe even all of it—and are attracted by products and services that they need.

What Is Considered a Whale in Business

• Influence and Power: A corporation, company, or individual is considered a whale if it has massive influence over its industry field. These powerful entities can have huge impacts on daily operations in the markets of their field.
• Size and Fortune: Whales have vast amounts of wealth, putting them a notch above any competitors in their field of study. Whales use their assets and funds to build their empire while controlling their industry’s markets.
• Measure of Dependence: Whales are heavily dependent on due to their assets and influence. Other companies and businesses depend on whales to sell their products and build their wealth. Many different economies depend on the whales within them to survive and flourish.

Examples of Whales

• Video/Mobile Games: In video games, whales are the players who always buy the newest bundles and make expensive purchases that the game offers. Much of the game’s revenue is from the whales purchasing in-game offers. Video game producers take advantage of this and create new offers, keeping their game interesting to entice whales to continue to buy and play.
• The Stock Market: The stock market’s day-to-day movement revolves around whales who own large magnitudes of shares. Whales have substantial buying and selling power in the stock market due to the large number of shares of companies they have, which can heavily impact the market’s strength.
• Hospitals: Hospitals need the newest, state-of-the-art technology to heal and care for their growing number of patients efficiently and effectively. As new equipment is produced, hospitals may purchase large quantities of expensive technology from corporations to improve their medical services.
• Restaurants: Whales in the restaurant industry are restaurants that buy supplies and ingredients in bulk from wholesale suppliers. Restaurants buy in bulk daily, weekly, or monthly, depending on the demand for their food. Restaurants buy in bulk the supplies that they need on a constant and regular basis from their suppliers.

How to Attract Whale Customers

• Products and Services: Market goods, merchandise, and services that benefit whales in a certain way, giving them a reason to purchase from your company. Appeal to the whale’s interests for their and your benefit.
• Create Blogs and Marketing Approaches Oriented Towards Whales: Utilizing social media, writing blog posts/articles, and building a creditable reputation will attract whales to your as profitable prospects. Create advertisements and blogs that exhibit your creativity and skills that benefit the whales if they choose to become customers.
• Establish a Relationship: Establish beneficial relationships with big whales. Prove to the crucial prospect that you are a trustworthy partner and will fulfill your end of bargains and transactions promptly and thoroughly. Establishing a relationship will put your company and the whale corporation on good terms.

Impacts of Whale Customers

• Financial Benefit for Both Parties: Whales bring immense potential increases in sales revenue for many companies that wish to work with whales. Whales are able to obtain services to grow their corporations even further.
• Building a Reputation: Positive feedback from whale customers can develop and promote the companies and businesses that work with them. Whales who say good things about the companies they work with can attract more customers and even other whales.
• Financial Ties: When smaller companies collaborate with whales, these smaller companies may drain their assets to satisfy the whales. Employing whales may be financially taxing for small companies and this may harm their funds later on as they are placing almost all of their capital into one place that can be easily lost.
• Whales’ Lack of Loyalty: Whales tend to purchase from companies and businesses that benefit them the most. For a period of time, whales may buy from one company but receive an offer from another and immediately shift business. Working with whales is not guaranteed to last and may not result in large profits for the smaller company.