Selling at the Executive Level (SellXL) presentation

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Selling at the Executive Level (SellXL) is a one-day sales training workshop for professional salespeople that helps them create, maintain and leverage relationships with senior client executives.

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Selling at the Executive Level (SellXL) presentation

  1. 1. What Is SellXL?SellXL is a practical, one-day workshopthat helps professional salespeoplecreate, maintain and leveragerelationships at the executive level. © 2010 - 2011, Learning Solutions International. All rights reserved.
  2. 2. Workshop OutcomesAt the end of this workshop, you will be able to…  Select the relevant executive to call on for the sales opportunity  Develop the best approach for the initial call on that executive  Determine how to become perceived as a trusted advisor to the executive, thereby securing return access  Describe and communicate your value to the executive on an on-going basis, using the client’s metrics © 2010 - 2011, Learning Solutions International. All rights reserved.
  3. 3. Workshop OutcomesThose outcomes may sound likecommon sense…however, in many cases, they are notcommon practice! © 2010 - 2011, Learning Solutions International. All rights reserved.
  4. 4. Workshop Modules Why Call on Executives? Target the Right Executive How to Gain Access Establish Your Credibility Create Your Value © 2010 - 2011, Learning Solutions International. All rights reserved.
  5. 5. Research on Selling at the Executive Level Hewlett-Packard | Kenan-Flagler Business School, UNC Georgia State University | Target Marketing Systems  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? Selling to the C-Suite: Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw-Hill, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  6. 6. Executive Involvement in the Buying Cycle Q When and why do senior executives get involved in the decision process for major purchases? A ExecutiveInvolvement Early Middle Late Early Plan Understand Establish Explore Set Vendor Examine Measure Set Strategy Implemen- Current Issues Objectives Options Criteria Alternatives Results tation Steps in the Buying Cycle Adapted from: Selling to the C-Suite: Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw-Hill, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  7. 7. Executive Involvement in the Buying Cycle Q When and why do senior executives get involved in the decision process for major purchases? A ExecutiveInvolvement Plan Understand Establish Explore Set Vendor Examine Measure Set Strategy Implemen- Current Issues Objectives Options Criteria Alternatives Results tation Steps in the Buying Cycle Adapted from: Selling to the C-Suite: Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw-Hill, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  8. 8. 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 © 2010 - 2011, Learning Solutions International. All rights reserved.
  9. 9. The Value of Credibility at the Executive Level Three Compelling Questions  Should we pursue this opportunity?  Can we effectively compete for this opportunity?  Can we reasonably expect to win this opportunity? Adapted from: Selling to the C-Suite: Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw-Hill, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  10. 10. Target the Right Executive © 2010 - 2011, Learning Solutions International. All rights reserved.
  11. 11. Calling on the Relevant Executive “The tasks our clients were asking us to take on were spreading beyond the domain of the CIO – places where IBM [salespeople] had not, in general, ventured and where we lacked strong client relationships.” – Lou Gerstner Former CEO, IBM © 2010 - 2011, Learning Solutions International. All rights reserved.
  12. 12. Defining the Relevant Executive Which executive should we align with to help us win the deal? The executive who stands to gain the most or lose the most by the outcome of the project or application associated with the sales opportunityThis is the relevant executive for the sales opportunity © 2010 - 2011, Learning Solutions International. All rights reserved.
  13. 13. JKEA International Case StudyFrom your perspective, as the TRK Systems salesperson…  Is there an opportunity to pursue at JKEA International?  Do we have a solution that enables us to compete for this opportunity?  Can we win the opportunity calling on key players with whom we have already established a relationship?  Who is the relevant executive to target for executive access?  How will we get to that executive? © 2010 - 2011, Learning Solutions International. All rights reserved.
  14. 14. JKEA International Executive Team CEO Stephen Markup COO CIO CFO Joseph Anne Marie Benjamin Harris Lawson Wu Dir. Sales & Dir. Dir. Corporate Dir. Customer IT Director Controller Marketing Manufacturing Strategy Service Sarah José Susan Dave John Nancy Lit Compo Langston Powers Lee Wallet Formal  Who would appear to have the formal power for the I/T decision at JKEA International? and  Who would appear to have the informal power regarding that same decision?Informal  Which is more important and why? Power  Which executive will be most impacted by the outcome of the I/T decision? © 2010 - 2011, Learning Solutions International. All rights reserved.
  15. 15. JKEA International Executive Team CEO Stephen Markup COO CIO CFO Joseph Anne Marie Formal Benjamin Harris Lawson Power Wu Dir. Sales & Dir. Dir. Corporate Dir. Customer IT Director Controller Marketing Manufacturing Strategy Service Sarah José Susan Dave John Nancy Lit Compo Langston Powers Lee Wallet Formal  Who would appear to have the formal power for the I/T decision at JKEA International? and  Who would appear to have the informal power regarding that same decision?Informal  Which is more important and why? Power  Which executive will be most impacted by the outcome of the I/T decision? © 2010 - 2011, Learning Solutions International. All rights reserved.
  16. 16. JKEA International Executive Team CEO Informal Stephen Markup Power COO CIO CFO Joseph Anne Marie Benjamin Harris Lawson Wu Dir. Sales & Dir. Dir. Corporate Dir. Customer IT Director Controller Marketing Manufacturing Strategy Service Sarah José Susan Dave John Nancy Lit Compo Langston Powers Lee Wallet Formal  Who would appear to have the formal power for the I/T decision at JKEA International? and  Who would appear to have the informal power regarding that same decision?Informal  Which is more important and why? Power  Which executive will be most impacted by the outcome of the I/T decision? © 2010 - 2011, Learning Solutions International. All rights reserved.
  17. 17. How to Gain Access © 2010 - 2011, Learning Solutions International. All rights reserved.
  18. 18. Four Approaches to Gaining Access Overt Sponsor Referral GatekeeperImplement an Use a credible Use a referral Treat theovert approach via sponsor within (someone outside gatekeeperthe telephone or the client’s the client’s (AA, secretary orusing a phone organization to organization), such the like) as acall, preceded by help secure access as a resource and usean email or letter consultant, business them to help secure associate or friend access © 2010 - 2011, Learning Solutions International. All rights reserved.
  19. 19. Research on Selling to ExecutivesQ 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…A Always Usually Occasionally Never 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 36 by a direct call A direct telephone call from a 0 20 36 44 salesperson © 2010 - 2011, Learning Solutions International. All rights reserved.
  20. 20. Preparing Your Approach Outline for the Initial Telephone Call on the Executive Brief introduction to why you’re contacting the executiveIntroduction Explain your connection to the person who referred you to the executive, if appropriate Purpose Be clear and specific as you explain the purpose of the call Explain the homework you’ve done on their organization and communicate Credibility how you’ve helped other companies address similar challengesCommitment Propose a clear and specific action for the executive and Action © 2010 - 2011, Learning Solutions International. All rights reserved.
  21. 21. Activity: Prepare Your Telephone Approach Develop your telephone approach to the relevant executive atPurpose JKEA International Identify the relevant executive1 Determine how you will approach the executive Complete the worksheet on the next page Address the key points associated with each phase of the process • Introduction2 • Purpose • Credibility • Commitment and Action3 Be prepared to read your approach to the entire group © 2010 - 2011, Learning Solutions International. All rights reserved.
  22. 22. Using Email or Voice Mail to Access Executives Email Put the referral’s name in the subject line of an email to an executive. Voice Mail  If you’re using voice mail as an initial contact with a C-level executive, practice your message by hearing it on your voice mailbox  Listen to your own message  Then ask yourself this question: Would you respond to a message like the one you left for yourself? © 2010 - 2011, Learning Solutions International. All rights reserved.
  23. 23. Establish Your Credibility © 2010 - 2011, Learning Solutions International. All rights reserved.
  24. 24. Components of CredibilityIntegrity Capability Adapted from: Clients for Life. Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000. © 2010 - 2011, Learning Solutions International. All rights reserved.
  25. 25. Components of Credibility  Trusted Advisor  Reliable  Collaborative Relationship  Trustworthy  Consistent Client Value ZoneIntegrity  Extra Pair of Hands  Expert for Hire Capability Adapted from: Clients for Life. Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000. © 2010 - 2011, Learning Solutions International. All rights reserved.
  26. 26. Different Perspectives ExecutiveManagementOperations © 2010 - 2011, Learning Solutions International. All rights reserved.
  27. 27. Different Perspectives Other Uses of Funds Company Wide View Executive Solution Department/FunctionManagement Fit View Price/ ProjectOperations Discounts View © 2010 - 2011, Learning Solutions International. All rights reserved.
  28. 28. Making the Initial Face-to-Face Call on the Executive Introduction  Refer to your initial telephone call with the executive  Cite your past experience Issues and Implications  Ask questions that confirm your level of preparation  Discuss the issues and implications using the client’s metrics  Confirm the importance of the breakthrough initiative Solution Options  Explore potential solutions  Develop a vision of the optimal solution  Confirm the value of the solution Moving Forward  Re-connect with the executive to secure return access  Have an action plan that involves the executive © 2010 - 2011, Learning Solutions International. All rights reserved.
  29. 29. 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 © 2010 - 2011, Learning Solutions International. All rights reserved.
  30. 30. Research on Selling to ExecutivesQ What has to happen in meetings with salespeople for the executive to feel it was effective?A 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, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  31. 31. Research on Selling to Executives How does a salesperson establish credibility and trustQ with a high-level executive?A 1. Ability to marshal resources 2. Understands my business goals/objectives 3. Responsive to my requests 4. Willing to be held accountable 5. Knows *your+ company’s products Selling to the C-Suite. By Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw Hill, 2010. © 2010 - 2011, Learning Solutions International. All rights reserved.
  32. 32. Selling to Different C-Level Executives What are their key issues? CEO CFO CIO Attracting/retaining loyal  Optimizing financial  Effectively deploying customers metrics technology Increasing market share  Reducing costs through  Maximizing scalability Developing/retaining increased efficiency and compatibility skilled employees  Leveraging the perception  Optimizing internal Improving productivity of financial analysts customer satisfaction Building a  Maximizing the return  Leveraging knowledge responsive, reflexive from the firm’s assets management organization  Improving the return on  Protecting the firm’s Developing a long-range human capital intellectual assets or strategic plan © 2010 - 2011, Learning Solutions International. All rights reserved.
  33. 33. Create Your Value © 2010 - 2011, Learning Solutions International. All rights reserved.
  34. 34. Creating a Value Proposition Your You, Your Client’sCompany and Specific Breakthrough BusinessYour Solution Initiative Value © 2010 - 2011, Learning Solutions International. All rights reserved.
  35. 35. Creating a Value Proposition Key Elements of a Value Proposition Addresses the client’s issue(s) and focuses on payback or return on investment as it relates to the client’s breakthrough initiative What’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? © 2010 - 2011, Learning Solutions International. All rights reserved.
  36. 36. Format of a Value PropositionYou should be capable of ______________ by ________ describe the impact monetary units or %through the ability to ___________________________ . describe the new situationThis will require an investment of _________________ state the cost of the solution, which will be returned within _____________________. estimate the time frame for return © 2010 - 2011, Learning Solutions International. All rights reserved.
  37. 37. Format of a Value Proposition Adding a Reference You can add a credible reference to your Value Proposition with one additional sentence.We recently implemented a similar solution at_________________ , who achieved _______________ . name of client specific savings achieved © 2010 - 2011, Learning Solutions International. All rights reserved.
  38. 38. Value Proposition Example Specific Client ExampleYou should be capable of reducing annual travelexpenses, resulting in annual savings of $5.9M, byimplementing our Telepresence System. This will require aninvestment of $5.3M, which will be returned in 11 months.We implemented a similar solution at Acme TransferCompany, who began achieving an annual savings of $7.5Mduring the first year of installation. © 2010 - 2011, Learning Solutions International. All rights reserved.
  39. 39. Sample JKEA Value PropositionYou will be able to more than meet the increased order demandgenerated by your new product launches with our new TRK ITinstallation and far exceed the customer satisfaction levels youhave achieved with the existing system over the past four years.The migration to our new order entry and billing system willappear seamless and require an investment of $700,000. Weestimate you will achieve a payback of that investment in lessthan 15 months, while assuring the accomplishment of one ofyour critical success factors in your new go-to-market strategy. © 2010 - 2011, Learning Solutions International. All rights reserved.
  40. 40. SummaryWhen calling at the executive level, make certain that you…  Have done your homework and understand the industry as well as the client  Can conduct the conversation using the client’s metrics  Are specific, but concise  Are prepared to discuss the specific business value you can deliver to their company, and to them personally  Don’t ask the executive a question whose answer could have been obtained from another source  Leave with the perception of owning the relationship (from your company’s perspective) © 2010 - 2011, Learning Solutions International. All rights reserved.
  41. 41. © 2010 - 2011, Learning Solutions International. All rights reserved.

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