how to crack the c-suite code in 2010: secrets for selling to the top

w w w . l a n d s l i d e . c o m Building World Class Sales Organizations

© Landslide and Learning Solutions International 2009. All Rights Reserved

How to Crack the C-Suite Code in 2010: Secrets for Selling to the Top

Selling to the C-SuiteThe Groundbreaking New Book for Professional Salespeople

Stephen J. Bistritz, [email protected]

www.sellxl.com

Linked to

Building World Class Sales Organizations


At the end of this presentation, you will be able to…

• Describe when executives get involved in the decision process for major purchases

• Discover the best approaches to use for that initial call on the executive

• Determine how to become perceived as a trusted advisor to the executive, thereby securing return access

• Use Landslide to communicate your value to executives on a consistent basis

Presentation Outcomes



Presentation Outcomes10 years | 500 CXOs | Cross-Industry | Cross-Cultural

Hewlett-Packard, University of North Carolina, Georgia State University, Target Marketing Systems, SalesLabs, LSI

• When and why did executives get involved in the decision process for major purchases?

• What has to happen in meetings with salespeople for the executive to feel it was effective?

• How do salespeople establish trust and credibility at the executive level, thereby securing return access?

• What are executives looking for in “strategic relationships” with suppliers?



Executive Involvement in the Buying Cycle

A

When and why do senior executives get involved in the decision process for major purchases?Q

Measure Results

Plan Implemen-

tationExamine

AlternativesSet Vendor

CriteriaExplore OptionsSet StrategyEstablish

ObjectivesUnderstand

Current Issues

ExecutiveInvolveme

nt

Steps in the Buying Cycle

Early Middle Late



Executive Involvement in the Buying Cycle

ExecutiveInvolveme

nt

Steps in the Buying Cycle

Measure Results

Plan Implemen-

tationExamine

AlternativesSet Vendor

CriteriaExplore OptionsSet StrategyEstablish

ObjectivesUnderstand

Current Issues



Selling to the C-Suite

“I meet with professional salespeople because often they can offer me solutions that even people within my own organization can’t develop.

They’ve seen these problems in other organizations and I want the benefit of their experience.”

— CXO-Level Executive



Defining the Relevant Executive

Simply put, it’s the executive who stands to gain the most or lose the most by the outcome of the application or project associated with the sales opportunity



Typical Client Organization

Cultivating Client Relationships Who has the formal power for

an IT-based customer service solution?

Who has the informal power for

that same decision? Who is the relevant executive

for this opportunity?



FormalPower

Cultivating Client Relationships• Who has the formal power for

an IT-based customer service solution?





InformalPower

Cultivating Client Relationships• Who has the formal power for an

IT-based customer service solution?

• Who has the informal power for that same decision?




RelevantExecutive

InformalPower

Cultivating Client Relationships• Who has the formal power for an

IT-based customer service solution?

• Who has the informal power for that same decision?

• Who is the relevant executive for this opportunity?




• Identifying the relevant executive should be a focus of any major sales campaign

• Aligning with that relevant executive will increase your odds of winning the deal



Four Approaches to Gaining Access

Implement an overt approach via the telephone or using a phone call, preceded by a letter

Overt

Use a credible sponsor within the client’s organization to help secure access

Sponsor

Treat the gatekeeper (AA, secretary or the like) as a resource and use them to help secure access

Gatekeeper

Use a referral (someone outside the client’s organization), such as a consultant, business associate or friend

Referral



Research on Selling to Executives

A

Assuming your company was considering a major purchase, how likely would you be to schedule a meeting with a salesperson if the request came from…

Q

A recommendation from someone 16% 68% 16% 0%inside your company

A referral from outside the company 8 36 44 12

A letter from a salesperson followed 4 20 40 36by a direct call

A direct telephone call from a 0 20 36 44salesperson

Always Usually Occasionally Never




• Gaining initial access to senior client executives is an important first step in establishing successful and loyal relationships

• Executives say that the best way to gain access to them is by using a credible sponsor within their organization



Components of Credibility

Adapted from: Clients for Life. Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000.

Integrity

Capability



Components of Credibility

Client Value Zone

Trusted Advisor Collaborative

Relationship

Adapted from: Clients for Life. Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000.

Extra Pair of Hands

Expert for Hire

Reliable Trustworthy Consistent

Integrity

Capability



Different Perspectives

Executive

Management

Operations



Different Perspectives

Executive

Management

Operations

ProjectView

Department/FunctionView

Company Wide ViewOther

Uses of Funds

Solution Fit

Price/Discounts




A

What has to happen in meetings with salespeople for the executive to feel it was effective?Q

1. Demonstrated responsibility

2. Understood my business goals

3. Listened before proposing a solution

4. Displayed knowledge of my industry

Selling to the C-Suite. By Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw Hill, 2009.




A

How does a salesperson establish credibility and trust with a high-level executive?

Q

1. Ability to marshal resources

2. Understands my business goals/objectives

3. Responsive to my requests

4. Willing to be held accountable

5. Knows company’s products



Making the Initial Face-to-Face Call on the Executive

Ask questions that confirm your level of preparation Discuss the issues and implications using the client’s metrics Confirm the importance of their key business initiative(s)

Issues and Implications

Refer to your initial telephone call with the executive Cite your past experience

Introduction

Explore potential solutions Develop a vision of the optimal solution Confirm the value of the solution

Solution Options

Re-connect with the executive to secure return access Have an action plan that involves the executive

Moving Forward



Four Major Objectives of an Initial Face-to-Face Call

Establish rapport quickly Confirm your understanding of the

executive’s key business issues Demonstrate some level of capability Create next steps that involve the

executive

Adapted from All for One: 10 Strategies for Building Trusted Client Partnerships by Andrew Sobel




• Make certain you do your homework before your initial call on the senior client executive

• Becoming perceived as a trusted advisor can be accomplished by consistently demonstrating both capability and integrity



Creating a Value Proposition

You, Your Company and Your Solution

Client’s Key

Business Initiative

Your Specific Business

Value



Creating a Value Proposition

Key Elements of a Value PropositionAddresses the client’s issue(s) and focuses on payback or consequences as it relates to the client’s breakthrough initiativeWhat’s important to them?

Describes how we can help, in both a qualitative and quantitative form How does our solution create value for

them?Might include an example of how we addressed a similar problem at another company How can we demonstrate our capability?



Format of a Value Proposition

You should be capable of ______________ by _________

through the ability to ___________________________ . This

will require an investment of _________________ ,

which will be returned within _____________________.

describe the impact monetary units or %

describe the new situation

state the cost of the solution

estimate the time frame for return



Value Proposition Example

You should be capable of reducing repeat customer service calls by 20%, resulting in a monthly savings of $250,000, by implementing our Call Tracker system. This will require an investment of $2 million, which will be returned in 8 months.

We implemented a similar solution at Acme Transfer Company, who began achieving a monthly savings of $500,000 within 90 days of installation.



Using Landslide to Implement Best Practices

• Landslide’s Sales Production System provides salespeople step by step best-practice process for closing deals, sales performance tools and personal assistants to offload data entry.

• Use Landslide to easily define the best practices for reaching the C-suite and closing deals so every one on your sales team can adopt these consistently




Tier 1 - Develop an end-to-end sales cycle

Tier 2 – Identifying activities needed to complete selling phase successfully

Tier 3 – Embed tools needed to complete the activity



Summarizing Our Findings• Executives get involved early in the decision process for major

purchases to set the project’s strategy – but also get involved late to monitor the implementation and measure the results

• Identifying the relevant executive and aligning with that executive should be key elements of your sales process

• The best approach to use for the initial call on the executive is to work with a credible sponsor inside the client organization to help you gain access

• Demonstrating both capability and integrity over the long termhelps you become perceived as a trusted advisor

• Remember to utilize applications such as Landslide to consistently communicate your value to executives on an on-going basis

• Some cool offers……



Offers

• Download slides - Visit www.landslide.com/webinar to download slides from today’s webinar

• Purchase a copy of Selling to the C-Suite at www.sellxl.com Build your own sales process in minutes! Go to www.provenpath.com now to download ProvenPath, free Sales Process Builder tool

• Free Demo – Sign up for a live demo of Landslide Sales Production System at www.landslide.com/webinar

• Three Book Winners Announcement

http://www.landslide.com/webinar


http://www.sellxl.com/

http://www.provenpath.com/





Selling to the C-SuiteThe Groundbreaking New Book

for Professional Salespeople

Stephen J. Bistritz, [email protected]

www.sellxl.com

Linked to