cracking the c-suite: finding and aligning with the relevant executive in 2010

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

Moderator

Andrew GaffneyPublisherDemandGen Report

Presenters

Dan McDadePresidentPointClear

Panelists

Stephen J. Bistritz, Ed.D.President & FounderSellXL.com

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One of today’s webinar attendees will receive a copy of “Selling To The C-Suite” by Stephen J. Bistritz.

Hewlett-Packard | Kenan Flagler Business School, UNC Georgia State University | Target Marketing Systems

Selling at the Executive Level

– Why current methods of identifying the right executive don’t work and what to do about it.

– How to map an organization and determine the formal and informal power

– How to gain access to high-level executives

– When and why 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?

Selling to the C-Suite. By Nicholas A.C. Read and Stephen J. Bistritz, Ed.D. McGraw Hill, 2009.

Executive Involvement in the Buying Cycle

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 OptionsSet StrategyEstablish

Objectives

Understand Current Issues

Executive

Involveme

nt

Steps in the Buying Cycle

1 - Early

2 - Middle

3 - Late

4 – NearlyEqual in All

Three Sections

Executive Involvement in the Buying Cycle

Executive

Involvement

Steps in the Buying Cycle

Measure Results

Plan Implemen-

tation

Examine Alternatives

Set Vendor Criteria

Explore OptionsSet StrategyEstablish

Objectives

Understand Current Issues

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

Defining the Relevant Executive

Typical Client Organization

Cultivating Client Relationships

Who has the formal power for an IT-based customer service solution?

Who has the informal power for that same decision?

Who is the relevant executive for this opportunity?

FormalPower


Cultivating Client Relationships– Who has the formal power for an

IT-based customer service solution?



IT-based customer service solution?

– Who has the informal power for that same decision?

InformalPower

RelevantExecutive



IT-based customer service solution? – Who has the informal power for

that same decision?– Who is the relevant

executive for this opportunity? Informal

Power

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

Client Value Zone

Trusted Advisor Collaborative

Relationship

Adapted from: Clients for Life. Jagdish Sheth and Andrew Sobel. Simon and Schuster, 2000.

Extra Pair of Hands

Expert for Hire

Reliable Trustworthy Consistent

Integrity

Capability

Components of Credibility

A

6% 6%

Perception of ValueWhen you have formed “partnerships” with strategic suppliers, what benefits did you expect and what did you actually receive?

Q

IntegratedInformation

Systems

Commitmentof Dedicated

Personnel

DeeperInsight into

Product Plans

GainCompetitiveAdvantage

SharingPrice/Cost

Risks

Reduce LeadTime for Product

Development

Re

sp

on

se

s

Loyalty Gap

Expected Benefit

63%

47%

37%33% 32%

28%

Value Received

23%28%

11% 11%

The Leads Are Weak!

The Problem

No Sales Follow Up

Ineffective Follow Up

Viable Conclusion

No Sales Follow Up

IneffectiveFollow Up

• 79% of leads generated by marketing are not followed up by sales

• Of the remaining 21%, 70% are discarded by sales for other reasons

• Only 6.3% of the total lead stream is worked to a viable conclusion

Why There is a Problem

Despite the time spent worrying, lead management is a business process that is broken in most companies:

PinpointTargetMarket

CraftResonatingMessages

EngageQualified

Companies

Turn Over Developed

OpportunitiesRight

GenerateLarge Quantity

Of Leads

Lower Cost-

Per-Lead

Turn OverRaw,

UndifferentiatedLeads

Miss“Camouflaged”Opportunities

Real

Lack of Alignment

What Sales Thinks Marketing Calls Leads

What Marketing Thinks Sales Calls

Leads

The Gap Between Marketing and Sales

Marketing • Lack of accurate targeting• Lack of consensus about what

a lead is• Lack of resonating messaging• Lack of integration between

sales and marketing• Lack of tracking and

measurement on conversion

Sales

Focused on lead quantity

Focused on

revenue generation

You Can Close That Gap

Marketing• Recognize qualified

opportunities are ready buyers with potential to close within one or two sales cycles

• Realize only a small portion of freshly generated leads fall into the near-term category

• Utilize multi-touch campaigns over weeks/months to nurture leads

• Probe, track, document

Sales

Focused on lead quantity

Focused on

revenue generation

What is a Qualified Sales Opportunity?

1. In your target vertical (SIC or NAICS code)2. Meets your firmographic qualification criteria (revenue, locations,

employees, etc.)3. Decision-makers and influencers identified4. Environment obtained5. Decision-maker engaged6. Business pains uncovered/validated7. Decision-making process & timeframe documented8. Budget allocated or process for budgeting defined9. Competitive landscape documented10. Sense of urgency or compelling event

Short Term = close within 1 average sales cycleLong Term = close within 2 average sales cycles

Since 1997Providing …

Prospect Development services– Response management– Lead generation and qualification– Lead nurturing– Event services– Data services

Serving … B2B technology clientsBridging the gap …

Between marketing and salesLeveraging …

Proven best practices related to planning, people, processesDeveloping …

Client advocatesResulting in …

More predictable forecasts and significantly higher revenue results

PointClear

Moderator

Andrew GaffneyPublisherDemandGen [email protected]

PresentersDan [email protected]

Panelists – Contact Information

Stephen J. Bistritz, Ed.D.President & [email protected]

Thank you for attending today’s webinar.