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How to Market to Today's C-level Corporate Finance Executives


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How to Market to Today's C-level Corporate Finance Executives

  1. 1. How To Market To Today’s CFO
  2. 2. The purpose of this webinar is to examinethe most successful marketing methodsthat best engage modern-day CFOs,Treasurers, Controllers and relatedcorporate finance executives . Find more on
  3. 3. The New Marketing Funnel Traditional marketing wisdom has always shown the sales process as a linear action that was initiated solely by a marketer.3 © 2012 Proformative
  4. 4. Understanding The New CFO Business in the information age has evolved drastically - so too have the responsibilities of the CFO. • The recession has mandated companies trim the fat and focus on their core functions • That trimming has forced the CFO has had to adopt new responsibilities. • As a result the CFO is more involved in the buying process than ever before – and also also busier than ever before. • According to a recent study by Accenture…4 © 2012 Proformative
  5. 5. Understanding The New CFO5 © 2012 Proformative
  6. 6. CFO DECISION MAKING • CFOs need knowledge and help • Content that delivers value to them holds high value in attracting their attention • Traditional marketing does not work with CFOs • What follows is a list of misconceptions about marketing to CFOs…6 © 2012 Proformative
  7. 7. MISCONCEPTIONS • CFOs click on banner ads • CFOs don’t spend much time online • CFOs won’t do their own research on products and services • CFOs can be marketed to just like other enterprise audiences • CFOs enjoy live events7 © 2012 Proformative
  8. 8. MISCONCEPTIONS • CFOs make all of the buying decisions for the company • CFOs make all of the buying decisions for the finance, accounting, treasury and related organizations • CFOs are not involved in marketing, engineering and other functional area purchases • CFOs leave tech purchasing to the CIO • CFOs are not tech savvy8 © 2012 Proformative
  9. 9. MISCONCEPTIONS • The CEO makes more buying decisions than the CFO • CFOs at larger companies delegate all purchasing decisions to their team • Enterprise CFOs make all of the big buying decisions at their company • SMB CFOs love to outsource • SMB CFOs prefer doing all of their work with full-time employees9 © 2012 Proformative
  10. 10. MISCONCEPTIONS • CFOs want to buy, not be sold • CFOs want intelligence, not sales ignorance • CFOs want to know “where to buy, when they need to know”. • CFOs love to network, especially in peer events • CFOs want to be educated in areas where they perceive others think them to be non-informed10 © 2012 Proformative
  11. 11. MISCONCEPTIONS • CFOs aren’t involved in the blocking and tackling of finance operations • CFOs do not realize that their best resources can be their peers • CFOs do not like to interact with their peers • CFOS hate social media • CFOs have all the resources they need already11 © 2012 Proformative
  12. 12. MISCONCEPTIONS • CFOs understand how to network effectively • CFOs are not involved in the professional development of their employees • CFOs do not care about their own professional development • CFOs do not respond to levity • CFOs do not own technology purchasing across the enterprise12 © 2012 Proformative
  13. 13. THE ROLES OF THE CFO According to the Spencer Stuart report, “The Global Fifty: Perspectives of Leading Chief Financial Officers,” today’s CFO is responsible for the following three roles: Role #1. Strategic Planning and Decision-Making CFOs must keep up to date with the changing dynamics of their business landscape. The most effective CFOs provide insights and knowledge about that landscape and offer data-backed information to aid in decision-making.13 © 2012 Proformative
  14. 14. THE ROLES OF THE CFO Role #2. Financial Community Liaison The CFO is the face of the financial side of the company. They have the privilege and responsibility of building a relationship with outside analysts and investors, communicating the company’s value, and demonstrating trust and integrity in the company’s operations and numbers.14 © 2012 Proformative
  15. 15. THE ROLES OF THE CFO Role #3. Management Team Member Effective CFOs work closely with their COO, CEO, and other members of the management team. Their main concern in this role is to take the analytical burden away from the other members so that they can spot opportunities through information delivered by the office of the CFO of via systems that the CFO has put in place across the enterprise for information “self- service”.15 © 2012 Proformative
  16. 16. PURCHASING FOCUS In addition to these roles, CFOs are typically responsible for purchasing. Items they most commonly purchase or authorize procurement for, are: • 401(k) providers • Accounting systems and services • Budgeting and forecasting software • Management systems • Legal services • Risk management • Liability Insurance • Health care and employee benefits • Technology systems and services • Outsourcing of many corporate operations16 © 2012 Proformative
  17. 17. THE CFO’S BIGGEST PROBLEMS Quality Information • Analysis is done for the purpose of educating oneself and frequently an audience of internal or external stakeholders in order to inform decision-making. • Companies make hundreds of tactical and many strategic decisions on a weekly basis. • The office of the CFO is seen as the primary “source of truth” in the enterprise17 © 2012 Proformative
  18. 18. THE CFO’S BIGGEST PROBLEMS Quality Information • Finance, accounting and treasury are right in the middle of these decisions providing data, information and insights • Getting the right data at the right time and in the right format to whoever needs it. • There never seems to be enough people, the right process or sufficient technology to make this all easily manageable.18 © 2012 Proformative
  19. 19. THE CFO’S BIGGEST PROBLEMS Risk and Compliance • Risks derive from employing people, operating globally, managing and deploying large amounts of money, and creating value for shareholders • SOX compliance is expensive. Nine out of ten CFOs say the costs of compliance are greater than the benefits. • The most significant part of SOX makes CFO criminally liable for signing off on misleading SEC filings. It’s understandable that complying with this law is often at the top of the list for the CFO.19 © 2012 Proformative
  20. 20. THE CFO’S BIGGEST PROBLEMS Communications • The traditional communication responsibility of the CFO was producing and publishing financial statements • Today’s CFO must give a positive image of the company to analysts, investors, and employees – all the time. • Finance executives need the right metrics and benchmarks to help inform “big picture” issues and offer intelligent suggestions to the CEO, board and colleagues.20 © 2012 Proformative
  21. 21. THE CFO’S BIGGEST PROBLEMSFinancial Planning/Reporting• In a recent survey, more than 40% of respondents reported one of their top priorities is to improve their planning processes and to provide better forecasts.• Many companies lack the tools required to carry out the intensive, data-driven analysis required for forecasting or planning - they need “more or new technology” to support their decision-making.• With the advent of “rolling forecasts”, the planning cycle effectively never ends21 © 2012 Proformative
  22. 22. HOW TO CONNECT WITH CFOsCopywriting for CFOsWhat impresses CFOs is information that helps them run theirbusiness.• Avoid marketing jargon.• Educate first, last and always.• Connect with them on their biggest issues.• Give them the information they most value in the format most easily digestible for their busy schedule22 © 2012 Proformative
  23. 23. HOW TO CONNECT WITH CFOsCONTENT MARKETING CHANNELSEmailKeep it brief and provide value towards their pain points. Educate withfacts they can use and speak their language. Speak to the value, not yourproduct. Think “reduce time to close your books” vs. “try our new product”.Direct MailThere should be no superfluous material. The letter should have a clearand concise offer for information. Executive reports based on studies,research results, and high-level white papers are appealing for theirinformative content and should be included in the main offer of your mailer.23 © 2012 Proformative
  24. 24. HOW TO CONNECT WITH CFOsCONTENT MARKETING CHANNELSTelephoneCalling after sending a report or white paper of value or after the CFO hasattended your event will increase the chance of building a rapport.EventsFor the CFO to be truly invested in an event, the speaker should be an A-listexpert on the topic of concern. Peers and speakers from researchcompanies or leading global players in the space hold a high degree ofcredibility with executives and improve your chances of getting a busy CFOout of their office or onto a webinar.24 © 2012 Proformative
  25. 25. PERSUASIVE COLLATERALSAND DIGITAL CONTENT Create A Financial Model • CFOs are first and foremost analytical professionals. When faced with a prospective offer, they will first turn to their experience in quantifying situations. Your offer should therefore include a model that quantifies the benefits. • Build a financial model that lays everything out in tangible, grounded numbers that can be consumed naturally by a CFO. • Features and functions mean less than cold hard numbers and solid benefits.25 © 2012 Proformative
  26. 26. PERSUASIVE COLLATERALSAND DIGITAL CONTENT Express The Benefits In ROI • After your offering is made in terms of financial impact, express your benefits as ROI. This should be the highlight of your financial model; CFOs will want to know how much they have to invest to hit their target numbers. • Determine what specific ROI CFOs needs for decision-making. Remember that CFOs will discuss those numbers with their staff, the CEO and possibly with board members. • Personalize this as much as possible and demonstrate that you truly understand their business.26 © 2012 Proformative
  27. 27. PERSUASIVE COLLATERALSAND DIGITAL CONTENT State All Assumptions Constructing a financial model and your pitch involves varying degrees of assumptions about the numbers. Make sure to state them all and offer them to the executive so the CFO knows they make financial sense. This also puts the CFO at ease knowing you are not cooking numbers for a sale. No one will sniff out bad numbers and poor logic as quickly as the CFO.27 © 2012 Proformative
  28. 28. PERSUASIVE COLLATERALSAND DIGITAL CONTENT Document Your Proof-Points • The assumptions, analysis and estimates included in your model should be backed up by demonstrable proof that your value proposition has been “real world” tested. • Offer benchmark and case study data into your analysis. • Every number should have concrete evidence supporting it.28 © 2012 Proformative
  29. 29. PERSUASIVE COLLATERALSAND DIGITAL CONTENT Clearly State Your Success Criteria The CFO will want to know: • How success will be measured throughout the life of the project • How will your side take responsibility if that success isn’t met Clearly expressing what your firm intends to do if the criteria aren’t met is invaluable in persuading a CFO to take the financial risk with your company.29 © 2012 Proformative
  30. 30. PERSUASIVE COLLATERALSAND DIGITAL CONTENTOffer Objective OpinionsHaving an independent analyst or a peer at another companyreporting your ROI and success measurements will makeyour offer seem more credible, official and thought-out.It’s not enough that you believe in your solution, their peersand unbiased professionals should believe it too.30 © 2012 Proformative
  31. 31. PERSUASIVE COLLATERALSAND DIGITAL CONTENTCreate the Final DocumentsThe entire report should be pulled together in anexecutive summary.Most situations will call for two final documents:• a presentation that relies heavily on the summary, and• a report that provides all of the above.31 © 2012 Proformative
  32. 32. PROFORMATIVE’S SOLUTIONS32 © 2012 Proformative
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  39. 39. PROFORMATIVE’S SOLUTIONS39 © 2012 Proformative
  40. 40. AUDIENCE40 © 2012 Proformative
  41. 41. SELECTED CLIENTS41 © 2012 Proformative
  42. 42. CLIENT LIST • 360 Solutions Foley & Lardner Receivables Exchange Adaptive Planning Frank, Rimerman & Co. Replicon Inc. Ahead Human Resources, Inc. Frank, Rimerman Consulting Reval Alight Planning Global Shares SAP Aline Gorilla Expense SAP America Inc. Alliance Cost Containment Gorilla Expense is Reefin, LLC. SEI appfolio Habif, Arogeti & Wynne LLP Silicon Valley Accountants Aranca Hanson Bridgett Silicon Valley Bank / SVB Financial Group Ariba, Inc. Hedge Trackers, LLC SOA Projects Avalara, Inc. Hein & Associates SumTotal Systems, Inc. Baker Tilly Host Analytics SunGard Availabilty Services Barney & Barney IBM Business Consulting Services SutiSoft BI 101 IBM Clarity SVA CPA Birst IBM Cognos Tagetik North America, LLC BlackLine Tatum LLC BNA Software Infor Teknos Associates LLC BOARD USA Intacct Corporation Teradata Burr Pilger Mayer Intralinks The Heights Business Intelligence 101 • Legiant The Melita Group Callidus Software Inc. Marcum Treasury Dynamics CapTrust Financial Advisors Marcum LLP Accountants & Advisors Tribridge Catavolt, Inc. McGladrey Trinet HR Corporation Cloud Identity Moyo Group TriNet-DWA Media Comdata myDIALS, Inc. TrinTech Concur Technologies Nair & Co Two Step Software Deloitte NetSuite UC Berkeley Extension Demand Solutions Group Open Systems, Inc. Ultimate Software DeWinter Associates Optimized Payment Consulting US Bank DLA Piper Perficient, Inc. Varicent EchoSign Peterson Sullivan LLP VISA Epicor Software Corp. Planview VISA / OMD NY Ernst & Young LLP Platte Valley Bank Weiland Financial ERP Guru PricewaterhouseCoopers LLP Western Union Excel4Apps PROPHIX Software Inc. Western Union BSG Excel4apps Inc PROS Woodruff-Sawyer & Co. Execustaff HR Ravix Financial, Inc. WorkDay Explore Consulting Real Asset Management Inc Xactly FiREapps42 © 2012 Proformative
  43. 43. PROFORMATIVE’S SOLUTIONS43 © 2012 Proformative
  44. 44. GET IN TOUCH: 408.400.3993 x 344 © 2012 Proformative