The document discusses best practices for selling to executives. It finds that executives get involved early to set strategy and late to monitor implementation and measure results. The best approach for an initial call is to work with a credible internal sponsor to gain access. Building trust over time by demonstrating capability and integrity helps become a trusted advisor. Consistently communicating value is also important.

1. The New Playbook for Professional Salespeople

4. Executive Involvement in the Buying Cycle Executive Involvement Steps in the Buying Cycle Early Middle Late Measure Results Plan Implemen-tation Examine Alternatives Set Vendor Criteria Explore Options Set Strategy Establish Objectives Understand Current Issues When and why do senior executives get involved in the decision process for major purchases? Q

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

6. 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

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. 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 36 by a direct call A direct telephone call from a 0 20 36 44 salesperson Always Usually Occasionally Never

16. Components of Credibility Adapted from: Clients for Life . Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000. Integrity Capability

18. Different Perspectives Executive Management Operations

19. Different Perspectives Executive Management Operations Project View Department/Function View Company Wide View Other Uses of Funds Solution Fit Price/ Discounts

20. Research on Selling to Executives 1. Demonstrated responsibility 2. Understood my business goals 3. Listened before proposing a solution A What has to happen in meetings with salespeople for the executive to feel it was effective? Q 4. Displayed knowledge of my industry

21. Research on Selling to Executives 1. Ability to marshal resources 2. Understands my business goals/objectives 3. Responsive to my requests 4. Willing to be held accountable A How does a salesperson establish credibility and trust with a high-level executive? Q 5. Knows company’s products

25. Creating a Value Proposition You, Your Company and Your Solution Client’s Key Business Initiative Your Specific Business Value

26. Creating a Value Proposition Key Elements of a Value Proposition Addresses the client’s issue(s) and focuses on payback or consequences 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?

27. 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

28. 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.

30. The New Playbook for Professional Salespeople NICHOLAS A.C. READ www.cxo-selling.com STEPHEN J. BISTRITZ , Ed.D. www.sellxl.com