selling to executives highlights

Highlight slides from selling to executives training program

© 2006, Learning Solutions International. All rights reserved.


What Is SellXL?

SellXL is a practical, one-day workshop that helps professional salespeople create, maintain and leverage relationships at the executive level.


Why Is Selling at the Executive Level Important?

Impact of Client Retention

The Loyalty Effect by Frederick Reichheld, Harvard Business School Press, 1996, Page 39

1 2 3 4 5 6 7 Acquisition cost

Revenue growth

Cost savings

Referrals

Price premium

Year

.

Base Profit

ClientProfit


Typical Qualities of Senior Executives

– Possess high standards of excellence– Often seek to minimize risks, but will take

calculated risks when appropriate– Continually seek competitive advantage– Value honesty and responsiveness– Are success-oriented and goal-driven– Value accountability and responsibility– Want a candid view of problems and

issues


– Help you understand the client’s business drivers

– Connect your solution to business value– Determine the real decision-making process– Navigate the organizational and political

structures of the organization– Expand the scope of the relationship– Instill and maintain client loyalty

What Can Selling to Executives Do For You?


The Value of Credibility at the Executive Level

Executive Credibility and Trust

Relevant Executive

Specific Business Value

Breakthrough Initiative


Four Stages of Sales Proficiency

Commodity SupplierIntermittentDisruption

to Their Business Day

Make a Sale Sent DownStage 1

Emerging ResourceInteractiveLogical ThinkerMake a Contribution Considered

Problem SolverInterestingCritical ThinkerProvide Insight Occasional

Stage 2

Stage 3

Trusted AdvisorInterdependentStrategicResourceProvide Leverage ContinualStage 4

Executive’sView of

Your Status

Your Relationship

Your Contribution

Your Objective

Access to the Executive


Client Value Zone

Trusted AdvisorCollaborative Relationship

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

Extra Pair of HandsExpert for Hire

ReliableTrustworthyConsistent

Integrity

Capability

Components of Credibility


Traits of Trusted Advisors

Give us solutions to problems that could not be developed by people in our own company

Act like they’re entering a long-term relationship as opposed to pursuing a single sale

Are consistent, dependable and forthright in their conversations and discussions

Will marshal the resources required to solve a problem or address key business issues

Here are some traits that executives tell us salespeople must exhibit to be perceived as trusted advisors…

Seek first to understand our challenges and then offer solution options that create value

Clearly serve as our spokesperson within their company, continually representing our interests

Help us separate logic from emotionDemonstrate both integrity and

capability over the long term

Some information extracted from The Trusted Advisor by David Maister, Charles Green, and Robert Galford. The Free Press, 2000.


Different Perspectives

ProjectView

Department/FunctionView

Company Wide ViewOther Uses

of Funds

Solution Fit

Price/Discounts

Executive

Management

Operations


Understanding the Client’s BusinessKey Metrics for Understanding the Client’s Business

The projects the client puts in place to address the drivers

Initiatives

The most important initiative which the client must act upon. It is typically bounded by a time frame and accom-panied by either significant payback if implemented or consequences if not acted upon

Breakthrough Initiative

The internal or external factors that might cause the client to change or react

Drivers

Note that the breakthrough initiative is typically developed at the executive level…often it’s not even recognized at lower levels in the organization

Effectively Assessing Sales Opportunities: The Dilemma for Today’s Strategic Account Managers. Stephen J. Bistritz, Ed.D. Velocity – The Magazine of the Strategic Account Management Association (SAMA). Q3, 2002.


Formal and Informal

Power

Example of an Executive Team

Who would appear to have the formal power for the decision at JKEA International?

Who would appear to have the informal power regarding that same decision?

Which is more important and why?

Which executive will be most impacted by the outcome of the decision?

Dir. Sales & Marketing Dir. Manufacturing Dir. Corporate

Strategy IT Director Dir. Customer Service Controller

COO CIO CFO

CEO

Sarah Lit

José Compo

Susan Langston

Dave Powers

JohnLee

Nancy Wallet

Joseph Harris

Anne Marie Lawson

Benjamin Wu

Stephen Markup


Summarizing the Value of Client Learning

• Enables you to provide what clients want you to have: Knowledge of their business

• Represents the easiest way to develop genuine and lasting rapport

• Will often generate the ultimate compliment: “You really understand our business”

• Shortens your sales cycle by quickly differentiating you and your company from your competitors

• Enables you to be in a better position to serve as a consultant to your client, contributing insights and creating the foundation for a collaborative relationship


Ask questions that confirm your level of preparationDiscuss the issues and implications using the client’s metricsConfirm the importance of the breakthrough initiative

Issues and Implications

Refer to your initial telephone call with the executiveCite your past experience

Introduction

Making the Initial Face-to-Face Call on the Executive

Explore potential solutionsDevelop a vision of the optimal solutionConfirm the value of the solution

Solution Options

Re-connect with the executive to secure return accessHave an action plan that involves the executive

Moving Forward


What are their key issues?

Selling to Different C-Level Executives

Optimizing financial metrics

Reducing costs through increased efficiency

Leveraging the percep-tion of financial analysts

Maximizing the return from the firm’s assets

Improving the return on human capital

CFOCFOEffectively deploying

technologyMaximizing scalability

and compatibilityOptimizing internal

customer satisfactionLeveraging knowledge

managementProtecting the firm’s

intellectual assets

CIOCIOAttracting/retaining loyal

customersIncreasing market shareDeveloping/retaining

skilled employeesImproving productivityBuilding a responsive,

reflexive organization

CEOCEO


Levels of Business Relationship

As a Commodity Supplier you are trying to make a sale. Your level of contribution to the client organization is minimal. Executives will typically send you down to lower levels in the organization.

You are beginning to make a contribution to the client’s organization. You are now viewed as an Emerging Resource; however, your access to executives may still be limited.

You are seen as a Trusted Advisor by

multiple executives in the client organization. Your

relationship becomes collaborative and you may

be asked for advice on issues unrelated to your

company’s products or services.

As a Problem Solver you are clearly making a difference in the client’s organization. You will typically now be granted access to certain executives on a regular basis.

How the Executive Perceives You


CommoditySupplier

Emerging Resource

Problem Solver

Trusted Advisor

Extent of Personal

Relationship

Evolution of a Trusted Advisor

Range of Business Issues Addressed


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?


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

Documents

selling to executives highlights