Selling at the C-Level

Sometimes it’s the C-Level customer that is the roadblock because they do not understand the difference between someone selling them a product and someone trying to help. Sometimes it’s because the sales person is still stuck in the “feature, benefit, close” sales process.
The April 2009 Harvard Business Review posed the question “Who can help the CEO?” The answer is other CEOs, or peers. This can make it difficult to engage with C-Level Executives and appropriate decision makers in organisations, unless they see you as a peer.
Many companies, even consultants, try a front on approach that necessitates a product based discussion. Whilst it might be true that your product may eventually fit a possible client, a product based approach generally ends up in an early discussion of feature, benefit and price.
Based on prior experience I recommend a course of action that engages the target decision makers at a business level that is not directly related to your product. My experience shows that it is easier to get C-Level Executives into a smaller setting when they know that the focus of the meeting will be them, not the technology or services company.
The idea of peer support becomes viable in the smaller environment and is in line with current thought leadership in business approaches. The best result is that in being part of the discussion, you too become a peer.

How do you catch your ideas?

Last year I listened to a description of how a poet would feel a poem rushing toward her and how she would then have to rush to her writing desk to make sure she caught it all. If she didn't make it in time she would end up with half a poem.

Today I listened to a songwriter and a comedian discuss how, when a line came to them, even if it was out of context, they knew it was a good line and they needed to capture it. One used an iPhone to record the thought, the other used a notepad.

When you are thinking of how to solve a business problem for a client, it should be obvious that as a sales person you need to get creative. Maybe you should use similar techniques for capturing inspiration!

Do you know your Sales Cycle? Has it changed?

I was prompted to write about this by the news, today, that more than seven in 10 CEO Institute
members are expecting their revenue to increase in the first six months of 2010. One task stands out above all others for the CEOs surveyed — maintaining sales (46 per cent).

So if you are just getting back into the swing of positive action on sales, bear in mind that decision criteria will have changed, approval processes may be different and attitudes are different than they were a year ago.

More than ever, showing value is paramount, but bear in mind that your customers are also hinging their hopes on an increased revenue stream that may not yet have materialised. I'm seeing more customers who are interested in a phased implementation, limited commitment approach. In other words, they want to taste it before they buy.

So be prepared for a changed sales cycle.

More Sales Gems

Here are some more sales gems as promised.

• If you don’t pay commission to your sales people then they are not sales people
  o Customer service people who up sell without commission are not sales people
  o Marketing people are not sales people
  o Accountants are not sales people
  o The closest thing to sales people are company owners. They are the only other category who only get paid if they exceed their job duties.
• Don’t limit commission
  o Decide beforehand that you are happy to pay for delivery. The quickest way to lose your best sales person is to start arguing after the sales is done.
• Do pay a percentage of last month’s billings(revenue or margin or both) as commission, if you are in an annuity business.
• For most industries, there is no such thing as seasonality, only lack of planning.
• The key to sales, as with any science, is research and research implies asking questions.

It is obvious that these gems, as with any gem, require to be viewed in the correct setting.

If you would like to delve deeper into this area, please visit www.intermizzi.com.au or send an email to paul@intermizzi.com.au And now you can follow me in www.twitter.com/intermizzi

Some Sales Gems

I was recently asked what I would present, as Sales Gems, in 20 minutes to a group of up and coming company owners. As I have not updated the blog for a while, I though they may be useful here.

Here are a few of them.

• Sales does not have to be an Art, it can scale through application of technology and process.
• Don’t let a sales team just happen. There is a skill and team balance just as there is in any team.
• Don’t be happy with 20% of your sales team delivering 80% of your sales. If this is the case then you’ve either a) Picked the wrong team, or b) Don’t understand your sales process
• If you, as the company owner, are the company’s best sales person then you haven’t been able to document your sales process.
• Don’t expect the sales team to share your values a) You built the company, they didn’t and b) Sales people are rarely in the office, they don’t get to share the daily banter and the daily examples of how you apply your values.

I've also put together a template for a sales plan.

If you would like a copy please email me at paul@intermizzi.com.au