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The Key to the C-Suite: What You Need to Know to Sell Successfully to Top Executives Review"C-level executives make buying decisions based on the strategic effect that a purchase will have on a set of key financial metrics or levers." The book makes a compelling case for using Metrics when selling- things like Return on Assets, Return on Investment, Earnings, Debt to Equity ratios etc.Nick suggests that you need to know how your product or service impacts these metrics. And understanding your strengths in those areas will help you make a more compelling case to help you sell.
As a former CEO, I have strong opinions of my own on how to sell to CEO's. My top 5 rules include:
1 - Respect the executives' time in all interactions. Most CEOs get hundreds of emails so keep any emails short. Most CEOs get invited to lunch or dinner daily so keep those short. Most CEOs have fairly aggressive schedules so be on time and stick to the time granted.
Anything you can do to save the executive time will help make the sale. I recall one creative sales person who offered to give me a ride to the airport so had my uninterrupted attention for 50 minutes.
2 - Make sure the CEO is the one you need to sell to. Sure it helps if the CEO is onside but many CEOs delegate decisions in many areas to their staff. I recall sitting through a detailed presentation on trucking complete with glossy brochures. After wasting an hour of my time, I simply put a post-it note on the brochure and passed it to my shipping manager "these guys presented to me - call them if you want".
3 - Treat everyone well. How you treat the receptionist, the assistant and the person doing research for the CEO will get back to the CEO. And besides, they are just doing their job and it is lower stress to be nice anyways.
4 - Do your homework. The internet makes it easy to know a lot about the company. Wasting a CEOs time asking questions that are on the web site or that can be readily obtained elsewhere is not a good way to start the sales call.
Use your valuable question time to probe for hot buttons and problems you can help solve.
5 - And after reading The Key to the C-Suite, I do think it is a great idea to know your metrics. This would fall in the category of saving the CEO time. It would also help the CEO make the case for buying from you.
People have the mistaken idea that the CEO makes decisions without having to "sell" anyone themselves. This is not true. CEOs need the buy-in of their staff to ensure good implementation of any purchase.
And finally, like all marketing, there is not only one way to sell to the C-Suite. Situations vary, people make decisions differently, companies are organized differently etc. So use multiple approaches to make the sale.
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