C Suite  Redesign 10.12
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C Suite Redesign 10.12

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How do you get a CEO's attention? How do you make sure he knows about your company before your best sales person knocks on his door? Winsper Inc. ...

How do you get a CEO's attention? How do you make sure he knows about your company before your best sales person knocks on his door? Winsper Inc. ...

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C Suite  Redesign 10.12 C Suite Redesign 10.12 Presentation Transcript

  • Reaching the C-Suite October 2007 Jeff Winsper President Winsper, Inc. 617-695-2900 [email_address] 2007 all rights reserved
  • How the marketer sees the arrow Great graphic—easy to see for retrieval in woods Tungsten tip arrowhead for weight, balance & durability Ash shaft to give strength & flexibility to reduce shattering on hard objects Perfect twining on the lathe & high gloss varnish for true flight through air Metal hilt extra long to prevent head detachment Military grade wire bindings won’t loosen Great aerodynamic hawk feathers for low drag & high rotation Nylon bowstring catch will not split Rabbit fur on all feather connections Perfect old growth grain eliminates warping
  • How the target needs to see the arrow (if it is to reach the target)
  • Reaching the C-Suite: things to think about
    • Who they are
    • When to market to them
    • How to talk to them
    • How to use your network to influence them
    • Make sure to do homework
    • Know where you want this relationship to go
    • Present a reasonable, relevant case
    • How to motivate them to take action
    • Being creative in how you attract attention
  • Targeting Them
    • Company Revenue
    • Social Venues
    • Company Size
    • Peer to Peer
    • Title
    • Lifestyle
    • BANT
    • 1 to 1
    • Risk
    • Interaction
    • Feature/Function
    • 3rd Party
    • Industry
    • Balance
    • Buying Agenda
    • Affinity
    • Competition
    • Ecological
    • Price
    • Economy
    • ROI
    • Partnership
    • Customer
    • Fun
    People Business Drivers Relationships
  • When do executives get involved in the buying cycle of major purchases?
    • If the price point is right, from the beginning Top Level executives are involved at all the stages of the decision buying process:
        • 70% Recognizing Need
        • 70% Evaluating Options
        • 61% Resolving Concerns
        • 94% Making Decision
        • 27% Implementation
    • Big companies are more concerned with what you know
    • Smaller companies are more impressed by who you know
    Business Drivers Source: 2006 survey conducted by the Real Learning Company and Advantage Performance Group
  • Involvement changes during the buying cycle Authorize/ Approve Select Evaluate/ Recommend Define Requirements & Architecture Exec. IT Mgmt. IT Mgmt. IT Staff LOB Corp. Mgmt. Exec. Corp. Mgmt. Data reflects rating of Very Involved Most Critical Influencer at Each Stage Initiate Business Drivers CMP Technology 2006 Purchase Process Study November 2006
  • Who does the CIO talk to? Source: State of the CIO, 2007, CIO Magazine Business Drivers IT staff IT steering committee CFO CEO LOB mgmt. Other corporate mgmt. COO Other CSO None of above 50% 42% 44% 47% 54% 41% 23% 7% 3% 1% Technology Investment by Committee Q: Who do you meet with to make decisions about investments in technology?
  • Today’s Business Drivers Near-Term Growth Opportunities IT CEO Revenue & Earnings Growth CFO Compliance CMO Customer Management CIO Dynamic Enterprise Source: IDC US Business Drivers
  • What are their top business issues?
    • CEO
    • Strategies for business growth
    • Expansion
    • Cost reduction
    • Increased efficiency
    • Stability
    • Corporate Culture
    • Customer Loyalty
    • Risk Management
    • ROI
    • CIO
    • Increasing efficiency/productivity
    • Improving external security
    • Cost Reduction
    • Increase revenue/profit margins
    • Internal customer satisfaction
    • Supporting New Business Activities
    • Enabling Growth
    • Application Integration
    • Implementing new technology
    • CFO
    • Streamlining organizational efficiencies
    • Align expenditures with business strategies
    • Cost Reduction
    • Risk Management
    • ROI
    Business Drivers
  • How to speak to them: Business
    • Executives are looking for specific, relevant content
    • Independent product evaluation
    • Peer-to-peer feedback on what works, what doesn’t, and why
    • Detailed, objective case studies
    • Critical analysis of the challenges associated with particular deployments
    • White papers about upcoming new technologies
    • Information on how to meet the growing requirements of government regulation and compliance on privacy, security, and financial reporting
    • Independent benchmarks and evaluation tools to validate vendor claims
    • Timely news and analysis on the financial stability and viability of technology products and service providers
    Source: Ziff Davis Media Business Drivers
  • Characteristics of the C-Suite
    • Well educated, well-read, and not just business reading
    • A joiner
    • Prides himself on being current on diverse topics
    • Embraces change
    • Driven to succeed
    • Practices what he preaches
    • Stays fit
    • Likes his toys …
    Relationships
  • How to speak to them: People
    • Lifestyle Profile
      • 77% Domestic Travel Past Year
      • 63% Manage Their Own Email
      • 44% International Travel Past 3 Years
      • 85% Participated in Sports
      • 24% Attended Live Theater
    Source: MRI & Boardroom Connections
    • Sports Participation Index
        • Biking 247
        • Jog/Running 194
        • Sailing 187
        • Tennis 220
        • Golf 229
        • Country Club 375
    Relationships
  • C-Suite—Social Changes Relationships Source: PWC 10th Annual Global CEO Survey 2007 9 out of 10 corporate leaders are doing more than they did 5 years ago to incorporate environmental, social, and political issues into their firms’ core strategies.
  • Creativity drives success Relationships Source: The New Yorker, Wired and Golf Digest C-Level Portrait Study
    • Strategic thinking and cultural shaping with an eye on the bottom line
    • Leadership: 70% consider creative thinking and cultural shaping more important than hands-on management with less delegation
    • Business: 86% consider reshaping and rebuilding critical vs. conducting business as usual
    • Performance pressures continue to put emphasis on short-term results
  • The Changing Perspective of the CEO
    • Collaboration
    • Reshaping & transforming
    • Technology as innovation enabler
    Relationships Source: The New Yorker, WIRED and Golf Digest, C-Level Portraits Study
    • Short-term results
    • Market driven vs. product driven
    • Integrity, vision, listening skills
    • Indulging passions a must
    • Mastery of work/lifestyle integration
    • Maximizing … not just recreation but also inspiration
  • Today’s Executive Suite Relationships Source: The New Yorker, WIRED and Golf Digest, C-Level Portraits Study 34% The Blue Chips 21% The Visionaries 23% The Main Street Movers 22% The Tech Influencer
  • Executive Profiles
    • 34% Blue Chips
    • Employed in larger organizations
    • Cautious and conservative in business approach
    • Dress for Success: Suits a Must
    • Big Golfers and Boaters
    • Demographics
      • Most likely to be empty nesters
      • HHI $312K – $2.22M net worth
    • 21% Visionaries
    • Encourages creativity and innovation in business
    • Risk Takers
    • Humanistic in approach
    • Dines out frequently
    • Skis, plays tennis, hikes
    • Demographics
      • Most apt to be single
      • HHI $265K – $2.13M net worth
    Relationships Source: The New Yorker, WIRED and Golf Digest, C-Level Portraits Study
  • Executive Profiles
    • 23% Main Street Movers
    • Entrepreneurial: Self-employed or runs smaller company
    • Puts a premium on good service
    • Product driven
    • Prefers active vacations
    • Values education
    • Demographics
      • Married
      • HHI $263K – $21.9M net worth
    • 22% Tech Influence
    • Employed in high revenue companies
    • Most likely to be CTO/CIO
    • Market driven
    • Willing to win at all costs
    • Gadget gurus
    • Demographics
      • Married with kids
      • HHI $286K – $1.730M net worth
    Relationships Source: The New Yorker, WIRED and Golf Digest, C-Level Portraits Study
  • The Three Amigos: CEO, CIO, and COO Time Spent On… Reporting Structure CIOs who report to CFOs Have the budget of CIOs Who report to CEOs Source: State of the CIO, 2007, CIO Magazine Relationships
  • CIO Archetypes INNOVATION AGENT Strategist who drives business change–and leaves the details to others OPERATIONAL EXPERT Rolls up sleeves and meets the challenges of the business head-on TURNAROUND ARTIST Relishes the challenge of fixing broken IT situations BUSINESS LEADER Straddling the business-technology divide, this archetype relies on communication and collaboration to get the job done Source: State of the CIO, 2007, CIO Magazine Relationships
  • CIOs help them to talk the talk
    • THE DAILY GRIND
    • Schmoozing and systems remain the top activities, but this year CIOs focused more on staffing and less on business strategy
    Source: State of the CIO, 2007, CIO Magazine Relationships
  • People Insights Source: GartnerG2/Insight Express March 2005 C-level n=680, Top Mgmt 1000+n=180 Relationships
  • Where do they get information? Relationships Source: Forrester Research, Inc. Which vendor information sources do your decision makers rely on to make or substantiate technology product decisions? Web sites Sales interactions Collateral Events Multimedia content Ads: online or traditional Press/PR Direct solicitations TV/Radio 75% 50% 51% 52% 59% 63% 69% 40% Base: 119 CIOs 49% of CIOs say product information is easy to find on the Web, but only 39% go to the Web first when researching 78%
  • Executive Media Consumption Source: GartnerG2/Insight Express 2006 Relationships Internet (excludes email) TV Radio Newspapers 39% 12% 22% 16% Magazines 11%
  • Where is the Internet used? At Home At Work At School or Library Other 84% 9% 72% Internet consumption happens at work and home Source: 2007 Spring MRI 7% Relationships
  • Internet consumption is large and growing 5+ Times/Day 2 – 4 Times/Day Once/Day 3 – 6 Times/Week 1 – 2 Times/Week Less than 1/Week 79% 3% 3% 9% 2% Source: 2007 Spring MRI 20% Relationships
  • Websites searched within last 30 days AOL Ask.com Excite Google Lycos MSN 16% 57% 4% 31% 58% SEO and PPC are critical Source: 2007 Spring MRI Netscape Yahoo 74% 19% 2% Relationships
  • Community-Based Media on the Rise But Not Yet a Staple for Business-to-Business Tech Buyers % Using with a frequency of about once a month or more How frequently do you currently use/will use next year each of the following media sources to get information relating to your job or to help you make technology decisions? Relationships Currently Next Year IT Corporate Streaming audio/video Social networks RSS feeds Blogs Podcasts Streaming audio/video Social networks RSS feeds Blogs Podcasts
  • How to use your network to influence them Which of the following sources do you rely on for information relating to your job or to make technology decisions? Source: CMP 2006 Relationships Executive IT Management Executive Corp. Management 66% Peers/colleagues within company 72% Analysts/Research firms 6% Social networks 14% RSS feeds 6% Podcasts 12% Social networks 25% Enterprise search 35% Enterprise search 18% Blogs 18% Blogs 55% Industry conferences 64% Peers/colleagues within company 53% Analysts/Research firms 61% Industry conferences 2% 28% 34% 37% 41% 43% 47% 53% 70% RSS feeds Vendor sales people Vendor-sponsored seminars Vertical search 3 rd party-sponsored seminars 3 rd party-sponsored Webcasts Vendor-sponsored Webcasts General search engines Peers/colleagues outside company 7% 39% 43% 51% 52% 54% 54% 57% 86% Vendor-sponsored Webcasts Vendor sales people 3 rd party-sponsored seminars General search engines Vendor-sponsored seminars 3 rd party-sponsored Webcasts Podcasts Vertical search Peers/colleagues outside company
  • Do Your Homework
    • Understand their role relative to the company size
    • Think about how to relate to them as people not just titles
    • Identify their key business challenges
    • This isn’t a group to mass market to
    • How are you and your company a solution
    • Does your product have the right price tag
  • Providing motivation to get there
    • Collective research on the subject consistently highlights the same conclusion. When making major buying decisions, top executives’ main concerns are:
        • Customer satisfaction
        • Achieving operational excellence
        • Getting and keeping the right people
  • What do they look for in a supplier? Executives are departing from arrangements based solely on low cost and focusing on relationships Based entirely on lowest cost or lowest price Allows for supplier participation in determining cost savings and their distribution Shares cost and technical data openly for mutual benefit Is fully aligned in cost and business benefit objectives Other Don’t know/Refused Bar 2 7% 6% 29% 25% 18% 15% Source: PricewaterhouseCoopers Global CEO Survey 2006
  • Knowing where you want this relationship to go
    • Building a long-term relationship
    • An understanding of where you are against the roadmap
        • Discovery, Design, Develop, Deploy
    • C-Level commitment, “sponsorship” of the process
    • Assignment of oversight to key staff member
    • Shared definition of success
  • Presenting a reasonable case
    • How do you motivate C-Level executives to listen to and
    • consider your company?
    • Bring your customers to a network of peers that will reinforce their major purchase decision
    • Showcase how you will help them attain their goals
    • Explain how you will help them increase revenues while decreasing their costs
    • Articulate how the purchase will deliver results reliably over the long term
    • Is it credible?
    • Is it relevant?
    • Is it beneficial?
    Source: Ziff Davis Media Motivating them to take action
  • Being creative in how you attract
    • Ask them
    • Bring them to where they will be anyway
    • Small and Intimate
    • Play to the lifestyles, but balance with business value
    • Market to them as individuals
    • Communicate with regularity
    • Leverage 3 rd party
  • Case Examples “ I don’t know who you are. I don’t know your company. I don’t know your company’s product. I don’t know what your company stands for. I don’t know your company’s customers. I don’t know your company’s record. I don’t know your company’s reputation. Now—what was it you wanted to sell me?”
    • Objective: To differentiate SBS as a credible IT Outsourcing provider, and generate appointments
    • Target: F100 – CIO/CFO
    • Solution: Leverage SLA and ROI guarantee
    • Step 1: Schmooze the gatekeeper
    • Step 2: Special Delivery
    • Step 3: Follow-up call
    • Step 1: Schmooze the gatekeeper
    • Step 2: Special Delivery
    • Step 3: Follow-up call
    Phase 1 Phase 2
  • Siemens—Phase 1
  • Siemens—Phase 2
    • Results:
    • 14% response rate
    • $3 million in new business
    • Objective: Penetrate Financial Services vertical with new alliance offering
    • Target : 100 top FS companies
    • CEO, CFO, COO, CIO, CMO, CRO, HR, Retail
    • Solution: Position alliance as catalyst for FS Transformation, by title and function.
    • Results:
        • 47% awareness increase with target
        • 27% inbound leads
        • 10 pilots implemented
        • 4-time award winner
  • Step 1: Call: Something is coming, gauge awareness. Step 2: High Impact Mailer with high value offer: KPI Report Step 3: Drive to PURL Step 4: Flat mailer Step 5: Telesales follow-up
  • PURL
  • Key Takeaways
    • Market to the individual, not just the title
      • Balance people and business drivers
      • Ask them what they care about
    • Creativity matters
    • You must earn the relationship before you earn the business
  • THANK YOU Jeff Winsper President Winsper, Inc. 617-695-2900 [email_address]