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Cracking the C-Suite: Finding and Aligning with the Relevant Executive in 2010

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Stephen J. Bistritz, Ed.D. author of the new book “Selling to the C-Suite.” Steve shares strategies on how to map an organization to determine the formal and informal power. He is joined by Dan McDade, President of PointClear, who shares recent success stories on using Multi-touch, Multi-media, Multi-cycle campaigns that Multiply Results and gain access to high level executives.

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Cracking the C-Suite: Finding and Aligning with the Relevant Executive in 2010

  1. 1. Cracking the C-Suite: Finding and Aligning with the Relevant Executive in 2010
  2. 2. Moderator Andrew Gaffney Publisher DemandGen Report Presenters Dan McDade President PointClear Panelists Stephen J. Bistritz, Ed.D. President & Founder SellXL.com
  3. 3. Welcome Webinar Attendees Your GoToWebinar Attendee Viewer is made of 2 parts: 1. Viewer Window 2. Control Panel Type your question here
  4. 4. One of today’s webinar attendees will receive a copy of “Selling To The C-Suite” by Stephen J. Bistritz.
  5. 5. Selling at the Executive Level <ul><ul><li>Why current methods of identifying the right executive don’t work and what to do about it. </li></ul></ul><ul><ul><li>How to map an organization and determine the formal and informal power </li></ul></ul><ul><ul><li>How to gain access to high-level executives </li></ul></ul><ul><ul><li>When and why executives get involved in the decision process for major purchases? </li></ul></ul><ul><ul><li>What has to happen in meetings with salespeople for the executive to feel it was effective? </li></ul></ul>Hewlett-Packard | Kenan Flagler Business School, UNC Georgia State University | Target Marketing Systems Selling to the C-Suite . By Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw Hill, 2009.
  6. 6. Executive Involvement in the Buying Cycle Executive Involvement Steps in the Buying Cycle 1 - Early 2 - Middle 3 - Late 4 – Nearly Equal in All Three Sections A When do you think they said they get involved in the buying process? Q Measure Results Plan Implemen-tation Examine Alternatives Set Vendor Criteria Explore Options Set Strategy Establish Objectives Understand Current Issues
  7. 7. Executive Involvement in the Buying Cycle Executive Involvement Steps in the Buying Cycle Measure Results Plan Implemen-tation Examine Alternatives Set Vendor Criteria Explore Options Set Strategy Establish Objectives Understand Current Issues
  8. 8. Defining the Relevant Executive <ul><ul><li>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 </li></ul></ul>
  9. 9. Typical Client Organization <ul><li>Cultivating Client Relationships </li></ul><ul><ul><li>Who has the formal power for an IT-based customer service solution? </li></ul></ul><ul><ul><li>Who has the informal power for that same decision? </li></ul></ul><ul><ul><li>Who is the relevant executive for this opportunity? </li></ul></ul>
  10. 10. Typical Client Organization <ul><li>Cultivating Client Relationships </li></ul><ul><ul><li>Who has the formal power for an IT-based customer service solution? </li></ul></ul>Formal Power
  11. 11. Typical Client Organization <ul><li>Cultivating Client Relationships </li></ul><ul><ul><li>Who has the formal power for an IT-based customer service solution? </li></ul></ul><ul><ul><li>Who has the informal power for that same decision? </li></ul></ul>Informal Power
  12. 12. Typical Client Organization <ul><li>Cultivating Client Relationships </li></ul><ul><ul><li>Who has the formal power for an IT-based customer service solution? </li></ul></ul><ul><ul><li>Who has the informal power for that same decision? </li></ul></ul><ul><ul><li>Who is the relevant executive for this opportunity? </li></ul></ul>Relevant Executive Informal Power
  13. 13. 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
  14. 14. <ul><li>Trusted Advisor </li></ul><ul><li>Collaborative Relationship </li></ul>Adapted from: Clients for Life . Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000. <ul><li>Extra Pair of Hands </li></ul><ul><li>Expert for Hire </li></ul><ul><li>Reliable </li></ul><ul><li>Trustworthy </li></ul><ul><li>Consistent </li></ul>Components of Credibility Client Value Zone Integrity Capability
  15. 15. Perception of Value 6% 6% Integrated Information Systems Commitment of Dedicated Personnel Deeper Insight into Product Plans Gain Competitive Advantage Sharing Price/Cost Risks Reduce Lead Time for Product Development Responses Loyalty Gap Expected Benefit 63% 47% 37% 33% 32% 28% Value Received 23% 28% 11% 11% A When you have formed “partnerships” with strategic suppliers, what benefits did you expect and what did you actually receive? Q
  16. 16. The Leads Are Weak!
  17. 17. The Problem No Sales Follow Up Ineffective Follow Up Viable Conclusion No Sales Follow Up Ineffective Follow Up <ul><li>79% of leads generated by marketing are not followed up by sales </li></ul><ul><li>Of the remaining 21%, 70% are discarded by sales for other reasons </li></ul><ul><li>Only 6.3% of the total lead stream is worked to a viable conclusion </li></ul>
  18. 18. Why There is a Problem Despite the time spent worrying, lead management is a business process that is broken in most companies: Pinpoint Target Market Craft Resonating Messages Engage Qualified Companies Turn Over Developed Opportunities Right Generate Large Quantity Of Leads Lower Cost- Per-Lead Turn Over Raw, Undifferentiated Leads Miss “ Camouflaged” Opportunities Real
  19. 19. Lack of Alignment What Sales Thinks Marketing Calls Leads What Marketing Thinks Sales Calls Leads
  20. 20. The Gap Between Marketing and Sales Marketing <ul><li>Lack of accurate targeting </li></ul><ul><li>Lack of consensus about what a lead is </li></ul><ul><li>Lack of resonating messaging </li></ul><ul><li>Lack of integration between sales and marketing </li></ul><ul><li>Lack of tracking and measurement on conversion </li></ul>Sales Focused on lead quantity Focused on revenue generation
  21. 21. You Can Close That Gap Marketing <ul><li>Recognize qualified opportunities are ready buyers with potential to close within one or two sales cycles </li></ul><ul><li>Realize only a small portion of freshly generated leads fall into the near-term category </li></ul><ul><li>Utilize multi-touch campaigns over weeks/months to nurture leads </li></ul><ul><li>Probe, track, document </li></ul>Sales Focused on lead quantity Focused on revenue generation
  22. 22. What is a Qualified Sales Opportunity? <ul><li>In your target vertical (SIC or NAICS code) </li></ul><ul><li>Meets your firmographic qualification criteria (revenue, locations, employees, etc.) </li></ul><ul><li>Decision-makers and influencers identified </li></ul><ul><li>Environment obtained </li></ul><ul><li>Decision-maker engaged </li></ul><ul><li>Business pains uncovered/validated </li></ul><ul><li>Decision-making process & timeframe documented </li></ul><ul><li>Budget allocated or process for budgeting defined </li></ul><ul><li>Competitive landscape documented </li></ul><ul><li>Sense of urgency or compelling event </li></ul>Short Term = close within 1 average sales cycle Long Term = close within 2 average sales cycles
  23. 23. Since 1997 <ul><li>Providing … </li></ul><ul><li>Prospect Development services </li></ul><ul><ul><li>Response management </li></ul></ul><ul><ul><li>Lead generation and qualification </li></ul></ul><ul><ul><li>Lead nurturing </li></ul></ul><ul><ul><li>Event services </li></ul></ul><ul><ul><li>Data services </li></ul></ul><ul><li>Serving … </li></ul><ul><li>B2B technology clients </li></ul><ul><li>Bridging the gap … </li></ul><ul><li>Between marketing and sales </li></ul><ul><li>Leveraging … </li></ul><ul><li>Proven best practices related to planning, people, processes </li></ul><ul><li>Developing … </li></ul><ul><li>Client advocates </li></ul><ul><li>Resulting in … </li></ul><ul><li>More predictable forecasts and significantly higher revenue results </li></ul>PointClear
  24. 24. Moderator Andrew Gaffney Publisher DemandGen Report [email_address] Presenters Dan McDade President PointClear [email_address] Panelists – Contact Information Stephen J. Bistritz, Ed.D. President & Founder SellXL.com [email_address]
  25. 25. Thank you for attending today’s webinar.

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