How To Start Selling To The C Suite | 5 tips For Selling To Executives


– If you want the
keys to the castle, you gotta go see the king. I’m talking about selling to the person in
charge of the business. I don’t care if
it’s a corner store or a Fortune 500 company, the best place to start in any
sales process is at the top and today on the
Dave Lorenzo Daily, we’re going to teach
you the secrets to selling to the C Suite. Hi, I’m Dave Lorenzo, this
is the Dave Lorenzo Daily and we’re here every day
with a great sales tip. If you like what you hear, please remember to
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in when we go live so that you can participate
in the discussion. I’m glad you’re here. Thank you for joining me. You are one of the
smartest people around because you’re part
of our community. All right, let’s talk about
selling to the C Suite. For the last 15
years of my career, I have only called on the
ultimate decision maker in any business. This includes Fortune
500, in fact Fortune 100, Fortune 50 companies as
well as mid sized companies that are looking to
do business with me. The reason I start at
the top is because, number one, I view myself
as a peer with these folks. I can help them solve a problem, I have situational
authority in this area, and they want what
I have to offer. They want me to
solve their problem, they want me to help
them grow their revenue, they want me to help
them set up a sales team that will absolutely kick
ass and I’m the guy to do it. So I go in at a peer level. That’s why I call on
C level executives. Chief marketing officer,
chief executive officer, chief sales officer, you
name it, I’ve called on them. The second reason why
I call on the C Suite is because they’re the ultimate
decision making authority. I can close the deal quickly, I can get to a deal in
principle oftentimes a lot faster with a
chief executive officer or chief sales officer, than
I can with a regional person or with someone in another
level or another position. I focus on going to the
ultimate decision maker because it makes my life easier and it makes their life easier. So let me share with
you the five secrets that I’ve discovered
in the last 15 years of selling exclusively
to C level executives. The first secret is that you
have to do your research. You have to know
three specific areas and how they impact what
you’re going to be doing. The first area is the economy. What effect is
the economy having on your prospective
client’s business? Your chief executive officer, the chief executive officer
who’s your prospect, thinks about the
economy night and day and he thinks about
how the economy is gonna have an
impact on his business. You need to know the different
aspects of the economy and how they impact
his business. For example, if you’re
calling on a company that works in real estate, interest rates have a huge
impact on their business. Also the value of the dollar has an impact on their business. What are bonds doing these days and how does that
impact their business? You need to know those things so that you can have an
intelligent discussion on a peer to peer level. The second thing
is the industry. What trends are currently
taking place in the industry and is your prospect’s
company at the cutting edge or are they lagging behind? Are they having a problem
in their industry? Are they number one or
number two in their industry? Do they have a new product
that’s killing the market? Do they have a product or
service that’s fallen behind? Where are they when it comes
to strengths, weaknesses and opportunities and
threats in their industry? You need to know this
because they know it and you have to be able
to speak their language. The third element is
the business itself. Listen to the analyst calls, listen to the earning’s calls from publicly trading companies, listen to the questions
the analysts ask and the answers the
executives give them. Read the 10K. That’s the quarterly report from the company
to its shareholders so that you know the best
face the company’s putting on, what’s happening
behind the scenes. Then, read the analyst’s reports to determine what’s
really happening so that you know the
state of the business before you walk in the door. If the company’s privately held,
do some research on Google. Do the Google dance. Get in there, and see what people are
saying about the company. Oftentimes you can find articles in industry trade publications that will tell you
what’s going on. You need to have all of this
information assimilated. You need to take it in so
that you know what’s happening before you even walk in the door to meet with the
chief executive. Secret number two;
know the language. Every industry has
its own language. You need to understand
the language, but you don’t need to
use it in a fake way. And the reason that you need
to understand the language is because oftentimes
industry experts, like chief executive officers of large companies
will use jargon and they’ll just expect
that people understand. So you have to know the
language of the industry, again, not to show off, just to understand
the conversation that’s taking place
around the room. When you know the language
and you read industry reports, they all make sense to you. How do you get this knowledge? Easy. Interview people who
are in the industry. Call them up and say
you’re doing a report on a company in the industry and you need to understand
some of the industry language. Have them share some of
the insider information and I don’t mean insider
from a stock perspective. I mean insider information from an industry
insider perspective. Insider information
about the industry, so that you’re familiar
with the language, you’re familiar
with what’s going on currently in the industry. Tip number three;
ask good questions. You’ve now assimilated
a ton of information. You’ve taken in a lot of
stuff, you’ve learned a lot, you can ask good questions. I would ask questions
that will impress the CEO. You can ask questions about
the goals of the organization as it pertains to the work
you’re going to be doing. Don’t ask a question
where the answer is easily found
by doing research. That doesn’t show
that you’re smart, that shows that you’re lazy. I want you to ask questions
that help you understand what the CEO’s goals are and why those goals are
important to him or her. This will help you
connect on a human level and it will also help you
connect on a business level because you’ll be able
to make that a priority for you and your team and you’ll be able to articulate
the priorities of the CEO in the same way
that he or she does. Ask questions that enable you to understand where
the company’s going so that you can
help them get there. Secret number four;
give direct answers. Don’t be wishy washy. If you don’t know,
say you don’t know. Give direct answers. This is not the time for BS. You don’t want to be
singing and dancing when you’re in
there with the CEO. You just want to give straight
answers, smart answers and answers that will
help you close the deal. So when the CEO asks what
the turnaround time is for you to deliver
on your proposal, give him a realistic time frame. When the CEO asks what
the return on investment for this project should be, you should be able to
tell (clicks) like that what the return on
investment will be based upon your past experience. Direct answers show
that you’re sharp, they also show that you’re smart and they show that you’re
a person of conviction. Give a direct answer,
speak straight. Straight talk wins
the day every time. If you BS, you’re gonna get
thrown out on your butt, I promise you that. Straight answers, very sharp, and if you don’t know say
you’ll get back to them and you’d better
get back to them by the end of the day, that day. Secret number five for
selling to the C Suite; follow up immediately. You need to set a follow up
plan while you’re in the room. The meeting goes well,
the CEO says alright, the next steps are
this, this and this. You have to set the timetable
so you say to the CEO, that’s great, can I meet
with your team tomorrow? Can I meet with
your team Friday? Can I meet with your team
this week to get started? Direct action, immediate action, that’s what gets
rewarded in business, especially at the upper echelons because those folks get
double talk all day long about how things
aren’t possible. You have to show that
you’re a person of action. Set an immediate
follow up agenda to get started
working right away. These five strategies will
help you break through to the chief executive of
any company, large or small. They’ll also help you with
chief marketing officer, chief legal officer. Anybody you call on,
follow these tips and you will never go wrong. Aim high, and you
will win in sales. Now, I want you to
watch this video which will also help
you win in sales because it’s your guide to
closing more deals fast.

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