Trust Triangle Selling January 2010 Newsletter

JANUARY 2010

Issue: 36

"Consulting" with CxO's

Q: Dan, I sell asset management for large corporate pension plans. As a result I regularly require access to CxO's, but it is not always easy to gain that access. Any advice?

Brendan
New York, NY

A.   Brendan, very good question. I could probably dedicate the next ten newsletters to your question. Let's start by understanding why you are interesting in cultivating relationships with the CxO's of your client base.

First of all, we need to put ourselves into the shoes of our CxO's. We need to appreciate the strategic thinking involved in the CxO's corporate role. After all, this officer is a decision maker in her company, navigating through daily economic and corporate challenges. She determines the long-term direction of the business, allowing her certain freedoms and discretion with respect to extended vendor partnerships and budget approvals, for instance.

If there is anyone in tune with the industry and business strategy, it is your CxO. After all, she sets budgets, determines her corporate strategy and drives corporate value. In one word, she has POWER. Given that we understand her business role, it is also important that we understand her personal characteristics. Persons in power, generally speaking, share the desire to control situations. Authority is very important to them. They are creative, concise, passionate about their business, and to-the-point. They understand the "big picture". This means you must elevate your game to meet their way of thinking. Imagine yourself as a CxO fielding a call from a rep. Wouldn't you say, at least to yourself, "WHY SHOULD I GIVE YOU EVEN FIVE MINUTES OF MY TIME?"

Here is how you can meet that challenge.

1.   Understand the CxO's Top Concerns;
2.   Draft your own "Power Message" to address those concerns;
3.   Utilize the Three R's: Research, Reference, and Request.

CxO's Top Concerns

Do your homework. Remember:

"If you want to know why the CxO buys what the CxO buys, then you must see the world through the CxO's eyes!" - Unknown

Analyze your CxO's industry! Prepare a list of your CxO's objectives and challenges. Although these concerns will vary according to the enterprise, some may include:

Containing operational costs
Increasing profitability and growth
Providing safe solutions
Differentiating their quality of service
Improving client satisfaction
Expediting processes
Generating new revenue sources
Capturing and increasing market share.

Power Message

Next, you must earn the right to meet your CxO. The most effective way to accomplish this is by way of a "Power Message." A Power Message is best established using a referral. If you have internal and external sources, utilize both! Remind your CxO of your excellent track record consulting with others in their company and/or others in their industry. Demonstrate your success!

Utilize the Three R's

To create an effective Power Message, utilize the Three R's:

Research:

"I have done my homework"
"I believe that I know your issue/concern/challenge"

Reference:

"We have had great results in tackling the same challenge for YXZ"
'I believe we can do the same for your company." ("Situational Fluency")

Request "Opinion":

"I would like to get your opinion on these results and how we may be able to help your company achieve similar or even greater results."

There are several other key tools to use when consulting with CxO's: Power Matrix, Power Letter, and a Power Script. We will address those tools future newsletters.

Good Luck, and Close 'Em

Dan Adams, Adams and Associates