- March 1, 2016
- Posted by: Robert Duke
- Category: Articles
C-level executives are indeed tough to reach. Marketing and selling to these executives have always been challenging for B2B organizations worldwide. Whether it’s a small, mid, or large size organization; C-level executives in every firm hold a unique position, they are the decision-makers, who have the purchasing authority.
However, the roles and responsibilities of C- level executives vary as per their designations. For example, CEO’s or chief executive officers are responsible for supervising the operations of the organizations, CTO’s (Chief Technology Officers) on the other hand are the chief technology officers, who are responsible for conducting technological procedures with business objectives. Whereas CFO’s or Chief Financial Officers are responsible for the company’s financial position. CFO’s job is quite complicated as they are responsible for analyzing the long term financial goals so that the company thrives.
Thus, it is always tougher to convince the CFO’s compared to the other C-level executives, because CFO’s oversee the risk factors and are concerned about the cost of things. We make this tough job of marketing and selling to CFO’s much easier with the help of the below-listed tactics:
Direct Mail Strategy:
Direct mail has always been the best way to get your message straight into the hands of CFOs. If you are planning to integrate this approach, we have a list of tips ready. Caroline Smith, Director of Marketing for CFO Magazine advises to send a one-page letter with all the precise and relevant information. But how should that letter be?
- It should be a personalized direct mail letter written by your CEO, CFO, CIO, or other top-level executives on his or her corporate stationery to his or her counterpart.
- Make sure not to use teaser copies with words such as “FREE” or “Urgent.”
- Send high-level white papers based on studies and research. It interests CFOs more than any plain promotional material.
- Use an express service if you have the budget for it. It gets opened quickly.
Email marketing is more economical and tends to give maximum return when you execute properly. However, marketers find it challenging to impress the CFOs using this tactic. Here are some of the progressive methods to sell to CFOs using emails.
- Dedicate your email campaign to focus on customers and their interests.
- Create relevant messages for highly targeted subsets of your prospect database.
- Keep your content educational rather than making it promotional.
- Make sure to send some useful graphic information that is easy to read.
- Perform lead nurturing through emails systematically.
Telemarketing methods are seldom targeted at CFO’s and other C-Suite executives. But when you do it right, it provides some unique advantages. Follow the strategies jotted below to avail those advantages.
- Research about the issues that the company has sustained or is facing before making a call.
- Speak CFO’s language with financial terms to smooth the conversation.
- Focus your discussion on the ROI your CFO will realize after investing in your solution.
- Call the executive after sending a critical report.
- Keep your call short, relevant, and to the point without wasting much of their time.
Things to keep in mind while selling to CFO’s:
1. Provide numbers whenever possible:
You don’t specifically have to send over a collection of spreadsheets to catch any CFO’s eye. Instead, send them the financial reality of your product or service, including approximate numbers.
2. Pay more attention to cost savings:
CFO’s are always anxious about saving the cost. So, demonstrate the economic factor of your products and services to them clearly.
3. Keep it plain and simple:
Present your financial model in such a way so that it does not require proof based on information that’s difficult to find. The CFO’s should find your metrics familiar.
4. Address their concern precisely:
Do your research on concern and priority of CFO’s. Use the language of money and talk about all the benefits of your product along with specific figures.
5. Place essential data at first:
CFOs prefer the punch line before the setup. So, place the core value proposition in the beginning. If you can compel the CFOs early, they are more likely to listen to what follows.
6. Speak about potential risks:
A CFO is highly responsible for the financial well-being of the company. When you speak to a CFO, you need to go out of your way to address the financial risks your product or services might pose.
7. Furnish measurement and action plan:
CFO’s are interested to know how the monetary impact of the purchase will be continuously calculated, and what actions your company will take if those criteria’s are not met.
8. Get the list from reliable vendor:
Furthermore, it’s always advisable for businesses to purchase a precise CFO mailing list from a list provider that can enable them to target the right prospects and accomplish success in marketing campaigns.
Make sure to show them how the tips mentioned above directly connects to the financial gains of the company. Because CFOs always focus on safeguarding the company’s future. Try to build mutual respect by looking for ways to help each other. It will win CFO’s confidence that directly attributes to sale.