Selling to the CxO - Introduction

Selling to the CxO - Introduction Today: Demystify the CxO World – 5 Points 1. Give you a process to follow 2. 3. Provide tips on unique requirements of CxO selling

Q: If that’s the case, why don’t we all do it every day? Strategic Decisions Long Term Relationships Value vs. Price A: It’s out of our comfort zone! Solutions vs. Products Shorter Sales Cycles Selling to the CxO - Introduction Why is it important?

Point 1 - CxO’s are People Too

“too little time” Family “really big” Mortgages Dreams “the possibilities” “lots of passion” Emotions “very long days” Long Days “extensive” Travel “tremendous” Pressure Point 1 - CxO’s are People Too Committed to their business’s success Mortgages Family Committed to achieving their personal goals Worked their way up just like you Travel

Point 2 – CxO’s have different Communication Styles

Have you heard people say any of these things about different Executives?….. Point 2 – CxO’s have different Communication Styles “I just wish I could get him to get to the point!” “get right to the point when your meeting with that guy” “book some extra time for that meeting, he’ll talk your ear off” “we really connected” “she never makes a decision right away” “she can’t stay focused on one thing” “he hates confrontation” “how much more information could she possibly want?

Point 2 – CxO’s have different Communication Styles Emotive (expressive) Sociable, Spontaneous Emotional , Unstructured Personable, Dynamic Persuasive • Supportive (amiable) • Warm , Sensitive • Patient, Softhearted • Relaxed, Reserved High sociability Low dominance High dominance • Director (driver) • Aggressive, Intense • Requiring, Pushy • Frank, Impatient • Reflective (analytical) • Precise, Deliberate • Questioning, Disciplined • Serious, Stuffy Low sociability Source: Manning/Reece/MacKenzie)

Style Flexing - Sell Differently to each style: Point 2 – CxO’s have different Communication Styles Supportives Emotives Reflectives Directors Selling to Supportives • Try to build a social relationship • Listen carefully • Professional, but friendly approach • Offer personal assurances and support • Be patient • Avoid conflict if possible

Style Flexing - Sell Differently to each style: Point 2 – CxO’s have different Communication Styles Supportives Emotives Reflectives Directors Selling to Emotives • Be enthusiastic • Take time to establish goodwill • Back off on facts and details • Support their opinions and ideas • Ask questions and listen attentively

Style Flexing - Sell Differently to each style: Point 2 – CxO’s have different Communication Styles Supportives Emotives Reflectives Directors Selling to Reflectives • Be prompt and organized • No nonsense, businesslike approach • Show proof and documentation • Never pressure them to make a quick decision

Style Flexing - Sell Differently to each style: Point 2 – CxO’s have different Communication Styles Supportives Emotives Reflectives Directors Selling to Directors • Be businesslike • Be efficient, to the point • Be organized • Use facts and figures • Help them meet their objectives • Ask specific questions related to the key issues

Point 3 - Know What Drives the CxO’s Agenda

SOX Security Shareholder expectations Downsizing / Outsourcing Growing the top line Increased productivity Increasing profitability Competitive Advantage Lower costs Customer Satisfaction / Attrition New markets Reducing Risk Mergers / Acquistions Point 3 - Know What Drives the CxO’s Agenda “The Executive Whiteboard”

Point 3 - Know What Drives the CxO’s Agenda “The Environment” • Top of CIO agenda - #1 technical priority, #2 business priority – Gartner • # 1 reason for upgrading Enterprise Networks – IDC • Web outages cost companies avg. $125K per hour – Cahners In-stat Group • Security threats from outside and within – 90 % of U.S. Bus and Gov’t experienced hacker attacks in 2003 • 80% of Network Security Mgrs believe biggest threat is from employees – Gartner • 59% of corporate security budgets increased in 2004- Yankee Group Security In your experience is Security a high priority on the Executive Agenda? You can’t afford not to bring this to your Executive’s table!

Point 3 - Know What Drives the CxO’s Agenda And If That Wasn’t Enough…….

Point 3- Know What Drives the CxO’s Agenda Real Question is……What isYour CxO Thinking About? Competitive Inroads? Budget Cuts? Security issues? How can we afford College tuitions?

Point 3- Know What Drives the CxO’s Agenda What Your Customer’s CxO Is NOT Thinking About? Speeds and Feeds Bits and Bites Bigger and Faster

Point 3- Know What Drives the CxO’s Agenda Think Strategically Strategic Issues “Solutions” • Who is in the Power Base? • Decision makers • Influencers • New vs. traditional • Security – where? Our Comfort Zone Execution Tactics “Products”

Point 4 - Successful Executive Relationships Are Based on Value

Point 4 - Successful Executive Relationships Are Based on Value Success is directly proportionate to the Value YOU Bring 1. Yourself –Sales Professional • Business insight, consulting, orchestration 2. Your Solutions Cluster of Values • That advance the Executive’s agenda 3. Your Company • The support, depth, expertise to support • a long term relationship

Point 5 – Sustainable Relationships Need a Sales Process

Point 5 – Sustainable Relationships Need a Process Solution Design Preparation Approach Discovery Presentation Implementat’n 1 3 2 4 5 6 Standardized Sales Tools & Processes Comprehensive Coaching The 6 Step Selling Process - Applies to multi-call and single call sales cycles

Point 5 – Sustainable Relationships Need a Process Sales FocusDuring the 6 Step Selling Process Sales Focus Premise – invest more energy at the front end to minimize objections and increase close ratio Solution Design Implementation Discovery Presentation Preparation Approach

Point 5 – Sustainable Relationships Need a Process • Sample Legend: • A – Top 20% Margin/revs • breadth of portfolio • large share of wallet • B – Top 20% Margin/revs • portion of portfolio • little or no Security • C – Bottom 80% Margin/rev • portion of portfolio • little or no Security • D – Bottom 80% Margin/rev • breadth of portfolio • large share of wallet Solution Design Implementation Discovery Presentation Preparation Approach Preparation – Not All Opportunities are equal Customers B A $ Current Value D C $ Potential Value

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach Preparation – Not All Opportunities are equal Prioritize Targets • Relationships • Strategic importance – can you add value? • Early Adaptors • Balance – Size of Opportunity with Path of Resistance • Learn everything you can – before you call

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Approach – Making Contact Objective – secure an appointment • Prepare a compelling message from your Preparation • Consider engaging your Executive on the first call • Seek out a “warm” introduction link • View Executive Assistant as the Executive • Expect Voice Mail

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach Example: “ Good morning Ms. Anderson, this is John Hertel VP Sales at Exceleration Technologies. I was speaking with your colleague Marvin Ryder earlier today and he suggested that I give you a call. Am I catching you at a bad time?” “No, I am between meetings right now. .. I have a couple of minutes. What’s this about?” “Marvin and I were reviewing some information on our newly introduced Security solutions and he felt pretty strongly that selected areas would be of real value to you at your upcoming planning session.” “That’s interesting…..tell me a little more” “Based on a review of recent Security breaches that companies similar to yours have experienced, we have prepared a unique risk management approach and associated ROI models that might fit your exact situation. What day this week would you be available for 30 minutes to meet with my associate Maria Williams and me to explore this a little further?” “I can see you and Maria on Thursday at 1:15….I will bring Tom Hayes my Director IT as well.” “Great, we will see you in your office on Thursday at 1:15….I will email a draft agenda this afternoon.

Solution Design Implementation Discovery Presentation Preparation Approach Approach - Creating Voice Mail Impact Characteristics: • Brief – arouses curiosity • Creates a sense of urgency • Unique – stands out from the rest

Solution Design Implementation Discovery Presentation Preparation Approach Approach - Creating Voice Mail Impact Possibilities: • Credible personal reference • “Barry Burke at Cisco suggested I give you a call…” • “I got your name from Debbie your Director of Purchasing…..” • Compelling personal experience • “Lisa, I just returned from an incredible product launch at Cisco, and I was compelled to call you right away”

Solution Design Implementation Discovery Presentation Preparation Approach Approach - Creating Voice Mail Impact Possibilities: • Important data or research reference • “Mr. Taylor, it’s John Hertel at Tower Technologies…. I am looking at a research report from the Yankee Group…. • Implication that other good companies moving in that direction • “Mary, it’s John Hertel at Tower Technologies….I am following up on the invitation that we sent you last Thursday. Most of the other invitees, including several of the top 50 companies that you compete with, have already replied and I would hate to see you miss out. Can you call me at…..”

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Discovery Objectives: • Establish a buying motive • the compelling link between your solutions and the customers business • Generate interest, rapport, and curiosity • Secure follow-up meeting for Presentation

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Discovery – Tips • Winning Attitude • Peer to Peer – the Executive conversation • Questions, Questions, More Questions • Active listening – see handout quiz

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Discovery – Plan the Discovery • Prepare Draft Agenda • Introductions • Brief Company Overview • Key information (you will need to support a Solution Recommendation) • Key stakeholders (high and wide that you should plan to contact) • Next Steps • Prepare potential questions

Sample Discovery Questions • What 3 challenges are you focused on over the next 3 to 6 months? • What are the biggest demands that your customers are putting on your business this quarter? • How do you deal with the pressures from competitors in your customer base? • How do you deal with their constant pressure to lower prices? • How do you differentiate yourselves from the competition? • How is your Network integral to your business success? • What different parts of your business would be impacted by a Network security breach? • How are your IT teams and Security teams tied together? • Who has responsibility for making decisions that impact both the IT and Security teams? • How do you build a corporate Security budget? • What security metrics do you have in place? • How do you currently communicate security policy to your employees?

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach Solution Design - Context Security is the #1 or #2 IT – related concern Enterprise wide issue However Budgets and reporting structures are segmented Executives “hate" spending money on it Security is perceived as a cost center Purchases that improve profitability or minimize operational costs get the highest priority

Point 5 – Sustainable Relationships Need a Process Who can best help me be successful? 1. Customer -Objectives -Challenges -Opportunities Solution Design Implementation Discovery Presentation Preparation Approach Solution Design – 3 Key Elements 2. Your Value Proposition: -Sales Professional -Offerings -The Company 3. The Competition: - Relative “Cost” of their Value Proposition vs. Yours

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach Solution Design – Know Your Competition • Become an industry expert • join Associations • Know what is going on outside your Company • i.e. new applications, bundles, offers • Understand key differentiators with competitors • have your facts right! • Avoid criticizing the competition. • Focus on your product or service merits. • Lay “traps” • i.e. where you Know yours is better • Exercise for you to try….. • List strengths of top 2 or 3 competitors • List strengths of your company • Target your strengths against their weaknesses

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach Solution Design – How will you differentiate yourself ? “Security Thoughts Starters” Governance – Risk Management • Security Metrics - compliance • Business Impact Assessment • Security Policy Development Technical Services • Security Awareness Training • Certification and Accreditation • Vulnerability Assessment Crisis Management • Disaster Recovery Planning • Emergency Response Team Best-in-Class Security Products +

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation • The moment of truth • A logical next step • Ties together key pieces of info as expressed by the customer with your solution • A persuasive and compelling story • Confirms you listened to Customer’s expressed needs • Demonstrates that you have great value - translated those needs into a solution…. • That will help your customer be successful

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation – Telephone or in Person • Be organized • Keep it simple • Be passionate

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation – Sample Presentation Agenda • Introduction • People, Objective, Agenda Review, Company overview • Review Current Situation • Summary of Discovery, confirmation of problems to be solved • Demonstration • Product or service; supporting information • Recommendation • Solution – linked to Discovery; Investment (Costs) - ROI • Next Steps • Implementation, contracts, schedule, finance etc.

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation – Uncover the Real Objections price Timing Other proposals Price priority 10% • doesn’t see Value • needs financing • has new boss coming in – reluctant to go ahead 90% • not final decision maker • heard bad things about your service isn’t sure yours is best

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation – Typical Buyer Concerns

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Presentation – Always be Closing • Focus on dominant buying motives • Negotiate the tough points before attempting a close • Sell Benefits (ask the ‘so what’ question) • Use “Proof Points” • State the Benefit • Prove the Benefit • Apply the Benefit • Ask for the sale

Solution Design Implementation Discovery Presentation Preparation Approach Proof Statement Components • State the benefit “Deploying Comstor’s Layered Security solutions can protect your end users’ from financial losses caused by web hackers” • Prove the benefit “According to the CSI/FBI Computer Crime and Security Survey, sabotage of data networks is estimated to cost the average organization $214,521 per incident” • Apply the benefit “So you can see that there is true ROI value to your business in preventing unauthorized access to Corporate systems and data”

Point 5 – Sustainable Relationships Need a Process Solution Design Implementation Discovery Presentation Preparation Approach The Implementation – Execute, Execute, Execute • Research shows – Sales cycle over when invoice is paid and customer feels you delivered what you promised, on time, on budget • Be visible - be there for important stages – good or bad • Be accountable • “Service the Sale” • Follow thru on promises • Follow up for satisfaction • Prospect for new business

Recap Point 1 – CxO’s are People Too Point 2 – CxO’s Have Different Communication Styles Point 3 – Know What Drives the CxO’s Agenda Point 4 – Successful Executive Relationships are Value Based Point 5 – Sustainable Relationships Need a Sales Process

Recap Thank You

Selling to the CxO - Introduction