Larger deals mean strategic, long-term relationships and insulating yourself from the competition. However, senior executives are busy and often protected by a gatekeeper, making selling at the highest level complicated. Let’s take a look at how a simple framework can give CXOs a reason to meet with you and increase the payoff.
According to a study published in the Harvard Business Review, CEOs consider only one-fifth of meetings with sales professionals to be of value. This is because the sales professionals who meet with them aren't prepared to bring insights or are unclear about the objective and what they are trying to accomplish with their B2B sales prospecting.
Here are four simple steps to help you sell higher in the organization.
Start by identifying the targets you are going after by industry, size, and geography. In other words, know the ideal client profile and the individuals within that account you would like to sell to. Then, use that knowledge to map the organization. Ask yourself, “Who do we want to meet with? What do they care about?”
Use LinkedIn, outside resources, coaches, and partners to find out as much as you can about the individuals within that organization. Look into everything you can find, whether it is annual reports or investor presentations. Look for account triggers, like changes in leadership, funding, new product launches, or expansion into a new marketplace.
Ask yourself, “How can my proposal address their initiatives?” The CFO might be interested in cost-cutting or efficiency. The chief sales officer might ramp up a new sales team or scale the organization. The VP of product development might be in a new product launch. The CEO might be most concerned about the company's image or expanding into a new market.
Once you have done your research, consider how to get access and develop an access deal strategy.
Is there somebody who can give you a referral or an introduction? Who do you know that is connected to that person?
LinkedIn is invaluable in this case. You could also use networking events, trade shows, and other events to determine where that individual might be going or if they are speaking at a conference you can attend. You can also leverage coaches who can provide valuable insights into what is happening in that organization and what they care about.
Finally, think about the value-added services. You can do extra things without a specific return but in exchange for getting a meeting and more visibility. Consider sending value in advance, such as a report, a white paper, or something interesting, as it might help get that meeting.
The next step is to prepare for the meeting. Start by defining a clear objective. What do you hope to accomplish in the meeting? Why is it a good use of their time to spend time learning about your offerings?
Executives want you to show up and have a point of view, opinion, and some information to bring. So, rehearse the meeting with somebody on your team. Have them ask the root questions and be prepared for how you will kick off and conduct the meeting.
Ensure you are concise and cut to the chase, as executives prefer more direct communication. Be able to support your information with facts and data if necessary, and spend only a little bit of time building rapport over small talk. Executives' time is at a premium, and you want to show them respect.
The last step is to propose what you can do for them and the organization. What would be most valuable for them that you have researched and can provide? What are the next steps? What do you want in return?
After the proposal, send a simple summary and a thank you note outlining what you discussed in the meeting and the next steps. And don't forget to thank your referral or the administrative assistant who helped set up the appointment. You can even consider a handwritten card or a note, which will be valuable in the future.
Finally, ensure you do what you say you would do during the meeting. You have earned the right to be in the meeting to engage with them and outline a few next steps. Now, follow up on your commitments.
In a world where senior executives are swamped with meetings, the RAMP method offers a large deals strategy to capture their attention and create lasting relationships.
It all starts with knowing your target inside out. Use resources like LinkedIn and annual reports to identify the right individuals and their pain points. Look for triggers that can spark their interest in what you have to offer.
Once armed with knowledge, focus on how to get that all-important meeting. Leverage your network, seek referrals, and utilize platforms like LinkedIn. Offer value upfront, which will pay off in terms of visibility and access.
After you secure the meeting, define clear objectives and come armed with a point of view and relevant information. Be concise, respect their time, and cut to the chase. Executives value direct communication, so make sure you deliver.
Finally, put your best foot forward by proposing what you can do for them and their organization. Show that you have done your homework and can provide real value. After the meeting, follow up promptly and professionally, honoring your commitments.
Learn three strategies to gain access to hard-to-reach senior executives, identify their problems, and prepare an executive-level sales presentation that will position you as a trusted advisor and strategic partner.