C-suite are the decision-makers who often have a final sign-off on an enterprise’s product purchases as they are the bureaucrats envisioning an organization’s road map to success. A strategy to cut through the red tape and target specifically the C-suite is imperative for businesses to shorten the sales cycle and seize lucrative wins. C-suite executives have a different mindset and modus operandi regarding their business operations. Here is an overview of the tactics and methods that are best suited to help you ace selling to the C-suite.
Who are we referring to as ‘C-suite’?
It is important to know your target audience before pitching your product or service to them. Who is C suite? How are they placed in the organizational hierarchy?
C suite are the executives with ‘chief’ in front of their titles, hence the name ‘c‘:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Chief Operating Officer (COO)
- Chief Information Officer (CIO)
- Chief Technical Officer (CTO)
- Chief Marketing Officer (CMO)
- Chief Compliance Officer (CCO)
- Chief Human Resources Manager (CHRM)
- Chief Information Security Officer (CISO)
- Chief Analytics Officer (CAO)
- Chief Data Officer (CDO)
- Chief Green Officer (CGO)
- Chief Human Resource Officer (CHRO)
- Chief Legal Officer (CLO)
- Chief Supply Chain Officer (CSCO)
- Chief Communications Officer (CCO)
- Chief Sustainability Officer (CSO)
- Chief Diversity Officer (CDO)
There are many other executives considered in the C suite, varying from organization to organization. They are usually placed at a position higher than executive vice president (EVP) and vice president (VP).
What is different about dealing with the C-suite?
human characteristics that bring about customer satisfaction. But an elemental difference that you can observe in them is that they are concerned holistically about their organization. Their primary concern is to know about the product and its significant, long-lasting impact on their business.
A paradigm shift is required in your thinking and planning when selling to the C-suite. Their priorities and strategies must be understood. You must know what the discussion must entail:
How business with you affects them: Besides focusing on the product/service, learn about the customer’s business and how you can align their needs with your goals. The C suite executive is not an ordinary client; veer them towards a partnership that will turn into a win-win situation.
The latest trends: Upgrading yourself is a continuous process and a prerequisite in the business scope. Showcasing your awareness helps you gain the faith of the C-suite executive you meet.
Insightful developments about the market: It is imperative to analyze the market before meeting with a C-suite executive. A thorough analysis will grasp their attention more than mere facts and figures. C-suite executives are visionaries, thinkers, and leaders who wish to use their knowledge and capability to bring about growth in their organization. Be willing to think on their level while selling to the C-suite.
Expansion, growth, and development: Present the big picture. Discuss how collaborations and partnerships with your organization help both of you grow. Despite the economic backlash, 60% of C-level executives say that their organizations are in growth mode. Take this to your benefit.
Methodical Strategies to Approach the C-suite
Knowing that business outcomes, long-term commitments, and competitive edge are all important to the C suite, be wise in how you approach them. Gaining a C-level executives email list is a sensible way to start it off, but let’s look at a few other tactics that are used to solidify contact:
1. Bridge the Trust Gap With Referrals
Referrals are a direct way to get in touch with C-suite executives. With the goodwill that comes with a strong referral, you gain common ground for a quick response from the C-suite executive. The top referral options are:
Your customer coach: They know the political and hierarchical landscape of the client organization and can connect with you easily.
Stakeholders: These key decision-makers can aid you access to contact C-level executives of their organizations.
Your professional network: Continuously observe your network. Associates, acquaintances, LinkedIn connections, current and former clients, colleagues, etc., all have the potential to get in touch with C-suite executives. Forming a strong network will aid you in future connections as well.
Dealing With the Process of Referrals
There is a way to go about with referrals. It is an art in itself. Learning how to gain and preserve contact with a referral will help you in your quest to touch base with C-level executives:
- Check how frequent your communicative responses are with a potential referral. How well you know each other on a professional level will help you assess the trust you have in them.
- A long-standing relationship will help you gain multiple referrals. Maintaining a balance is crucial.
- Find out the best timing and act upon it. For example, if you find a client or repeat lead satisfied with your offering, you can ask them for a referral.
- Being humble while availing of help can go a long way. Keep it simple and appealing so that the one referring you is assured of reciprocity.
- Be magnanimous with your referral. Make sure that they get the credit for what they do. You can make them feel valued by keeping them in the loop.
- The words ‘please’ and ‘thank you’ are known to be golden for a reason. Remember to use them in your conversations optimally. Polite habits will increase their trust in you and your organization.
2. Persuade the C-suite for a Meeting
Repeatedly badgering a C-level executive has the possibility of straining your relationship. Their schedules are jam-packed, and they need to be drawn to meeting you:
‘Breaking news’ worthy event: Display your organization’s latest discovery – surely this is intriguing.
C-level to C-level: Having your company’s C-level executive set up a meeting with the C-level executive you are pursuing is a tactical move.
Account review: This is useful for repeat leads. Show how you have helped them in the past and why and how they benefit from continuing business with you.
3. Add Value With Key Insights
Business follows the law of value addition. A C-suite executive’s interest and eagerness to meet you are piqued when the insights you share will benefit them. Provide essential industry trends, research findings, white papers, best practices, or any other information you have gained from experience. Make sure that the insights you provide align with the client organization’s needs.
How can you stand out from the crowd while selling to the C-suite?
Every business faces competition in the market daily. What can’t be avoided can be conquered. Comprehending your client organization’s pain points lets you convince them how your offerings can benefit them. Additionally, keeping up with any leadership changes that have occurred in the organization’s near past and with insights about their venture’s standing in the market empowers you to devise an accurate marketing strategy.
One of the top-notch approaches that lets you stay ahead of your competitors and initiate collaborations with the C-suite includes PEST:
Selling to the C-suite – the Process
C-level executives are among the top decision-makers, and their voices are precious to the organization. Creating a loyal C-suite as a client base becomes smooth if you can convince them to purchase your offerings.
Here is the RAMP approach, the best bet that will let you rise to the occasion and seize deals:
1. Research
The PEST method provides significant insights into your c-suite prospect’s industry and vertical. Additionally, by understanding the C-suite’s focus areas, their initiatives let you pitch the exact offerings that align with their goals.
2. Access
A few of the best methods for gaining access to the C-suite include referrals and the LinkedIn platform. Leveraging a customer coach closely associated with the organization will also provide a deeper understanding of the C-suite’s style of operation.
3. Meeting
Once you’ve secured access to the C-level executive, it is time to plan the meeting. Here are some key points that must be considered while setting up a meeting with the C-suite include the following:
- A simple and clear objective
- A quick recap
- A precise statement of the problem affecting them
- A map of the solution to their problem
- Showcase how your offering addresses their problem
- Be flexible
- Thank them profusely for their time
- Ask for feedback
- Listen to their ideas and thought processes
- Identify the next steps.
4. Propose
In the final step, emphasize the long-lasting impact your product will have on the organization’s profit margins. To close the deal, offer your best pricing model and the relevant actions you expect the C-suite to take. You can reiterate the details of the meeting via email and follow up. Giving a human touch by thanking them for their time with a handwritten note will help cement the relationship.
Wrapping Up
Selling to the C-suite is most effective when you showcase yourself as their strategic partner and not an ordinary vendor. It is vital to create a perception that the solutions you offer pave the way for remarkable ROI gains and novel avenues of revenue growth. The key focus to seize the deals is establishing your offerings as the C-suite’s go-to solution provider.