In today's ever-evolving business landscape, decision-making involves many stakeholders, making it crucial to adapt and thrive. Dive into this comprehensive guide to learn the essential skills to 'sell higher' in any organization and successfully gain access to C-Suite and executive-level buyers.
The C-Suite is the group of senior executives in the most critical management positions with job titles that usually begin with "chief" or “c” for short. This includes the Chief Executive Officer (CEO), Chief Technology Officer (CTO), Chief Financial Officer (CFO), Chief Marketing Officer (CMO), etc.
It is important to map each organization to understand the structure since executive roles and responsibilities differ across all companies. In many businesses, C-level executives are typically higher than VP and EVP but are collectively referred to as key executives.
Many new C-Level roles and titles did not exist ten years ago. The size of the organization typically drives these differences. For example, the Regional Vice Presidents may be the key executives in a large global or multi-division company. At the same time, smaller and mid-sized organizations may have the more traditional C-Suite structure.
Selling to the C Suite is connecting and meeting with top-level executives of any organization you want to do business with. Selling to executives requires a unique mindset, more strategic sales tactics, and a deep understanding of the executive buyer's motivation.
Selling to a key executive means shifting from a traditional sales approach to a valued partner role. This is a fundamentally different conversation to align with the C-Suite priorities, which center around:
Selling to C-Suite has never been more critical. Purchasing decisions at many organizations now include the C Suite level as the final decision maker. Sales win rates are much higher when a C-Suite member is directly involved in the buying process.
In addition to making the sale, there are several valuable benefits of selling to the C-Suite, including:
Key executives operate at a strategic level. They care most about solving business problems and challenges – in the short term and well into the future. Emerging technology, industry changes, and competitive threats are top concerns. The C-Suite looks across all these areas to predict future outcomes from an organization-wide perspective. It is also important to note that different C leaders have different concerns. For example, what drives the CFO is different from the CIO.
To have a productive conversation with C-Suite executives, it is imperative to shift your mindset from the tactical (i.e., your product’s features) to the strategic big picture. Strategic thinking to connect with a key executive’s top concerns requires significant research. When doing your research, look for compelling answers to these essential questions:
Accessing senior executives is challenging since they are over-scheduled and typically avoid vendor meetings. The most successful approaches for connecting with the C-Suite are using referrals, creating a compelling reason to meet, and bringing fresh and valuable insights.
Referrals are by far the most effective way to get a C-Suite appointment. Identify someone who knows and values you, your solution, or your company to introduce you to the key executive. Here are the best referral options:
Use referrals consistently to position yourself as a valuable and trusted sales professional.
The C-Suite is bombarded with meeting requests. Highlight a specific event or opportunity with a compelling reason to say "yes" to meeting with you. Reasons to meet might include:
Insights may include an industry trend, a research report, or a white paper from your research. Offer to share best practices, success stories, competitive insights, or industry information you have gathered from your own experience. The key is to connect the dots, linking the insights to the C-level executive’s challenges or goals.
Email is a great way to reach decision-makers, but you compete for attention with hundreds of daily emails. Your email can be deleted without a stand-out subject line before it is even opened or delegated to a lower-level manager. Creating an engaging, relevant, and timely subject line is essential to draw attention.
Along with a stand-out subject line, use these tips for a more compelling email:
To stand out from all the noise, you must be relevant and bring fresh insights. Every C-Suite member faces unique challenges; research is the only way to learn about them. Start with the annual report, social media, websites, and investor presentations. Investigate industry news for account triggers like changes in leadership, funding, new product launches, or expansions into new marketplaces.
To uncover the insights that can lead to a meeting, you must be a PEST and research across the Political, Economic, Social, and Technological landscapes. The chart below details what to look at across the company and industry.
Most salespeople don’t have frequent C-Suite meetings and often plan for a high-level demo or discovery call. That is a mistake. With proper planning and preparation, a key executive meeting can provide an inside track on a sales opportunity or build a critical relationship. Follow the RAMP Method (Research, Access, Meeting, and Purpose) for a positive outcome that makes the most of your limited meeting time.
This first step is the basis for all the rest and takes the most time. Identify the client profile and scout the individuals you want to sell to within that account. Map the organization to learn who is in key roles and what they care about. Next, do the PEST analysis to learn about the company and industry.
As you research, think of ways you can address their initiatives. Will the CFO be interested in increasing efficiency or reducing costs? Are there opportunities for the chief sales officer to ramp up a new sales team or scale the entire organization? Is the VP of product development positioning for a new product launch? Could the CEO be concerned about the company’s image or exploring an expansion into a new market?
Access has always been challenging, and today, it may be done virtually. Referrals that introduce you are still the most effective way to get C-Level access. LinkedIn and other social platforms are invaluable for this. You can also leverage customer coaches who know the organization and can provide insights into its culture and operations. And don’t forget about your own senior executives. Peer-to-peer outreach can be instrumental in getting a response.
While getting access is challenging, the hard work is not over yet. But having a plan before you get to the meeting will help tremendously. Here are a couple of tips:
The final step is to propose what you can do for them and their organization. What is it you are hoping to achieve? What are you offering, and what do you want in return? What action do you expect the executives to take because of the meeting, and what are the next steps?
After the meeting, send a simple summary and thank you note outlining what you discussed and reiterating the next steps. A handwritten note may help offset the virtual format by adding a bit of warmth. Be sure to thank the referral or the administrative assistant who set up the meeting.
Use this RAMP method as a model and roadmap for higher organizational sales. You need to speak senior executives’ language and be clear about their objectives; this model can help you accomplish that. The payoff is engaging in more strategic relationships, developing longer-term relationships, insulating themselves from the competition, and closing larger deals.
When meeting with the C-Suite, you have limited time, so avoid questions that show limited knowledge of the organization or use cliches like “What keeps you up at night?” Another common mistake is going into discovery mode and asking questions to set up a sales pitch. Instead, look for a strategic conversation advisor with thought-provoking questions and active listening skills.
Here are examples of strategic questions:
Sales professionals must understand C-Suite executives' unique needs and priorities to sell to them effectively. This requires being able to articulate clearly the value and ROI of your product or service, as well as understanding the company's business goals and objectives. Building a relationship with C-Suite executives and demonstrating your expertise and credibility can also be crucial to a successful sale. By following the strategies outlined in this guide, sales professionals can increase their chances of making a successful sale to the C-Suite.
Co-authored by: Ray Makela and David Jacoby.