Selling at C-Level

1. Selling at C-Level May 9, 2005

2. 2 Ask about who this is in their customersAsk about who this is in their customers

3. 3 What is different when selling to the C-Level? What is the role of C-Level Selling? When should you engage at the C-Level? How is your role different in a C-Level meeting? How does the BP message vary at the C-Level? How do you get into conversation with the C-Level of a customer? How to conduct a C-Level customer meeting? What do customers want from C�Level meetings? How to sustain momentum, agreements and achievements made at C-Level meetings?

4. 4 C-Level Keys to Success The keys to a successful C-level meeting � making sure you have the right scope, the right people, the right relationship and the right time. Before the meeting set clear objectives, manage the meeting in a structured way (5 steps) and use communication skills (questioning and listening, objections etc.). After the meeting ensure good follow-up.The keys to a successful C-level meeting � making sure you have the right scope, the right people, the right relationship and the right time. Before the meeting set clear objectives, manage the meeting in a structured way (5 steps) and use communication skills (questioning and listening, objections etc.). After the meeting ensure good follow-up.

5. 5 Outline for Session Check this with heidi Check this with heidi

6. 6 The Role of C-Level Selling What is the Role of C-Level Selling? Lead an open discussion and capture the answers on a flip chart. Lead an open discussion and capture the answers on a flip chart.

7. 7 The Role of C-Level Selling Go beyond the deal Float / develop the big ideas Learn more about the customer�s strategic direction Expand the scope - larger geography, across divisions Expand the size � bigger % of business, longer partnership Change of nature of the relationship - transactional to strategic Change the direction of the relationship Some of the reason�s for meeting with a C-Level ManagerSome of the reason�s for meeting with a C-Level Manager

8. 8 Working in the C-Level �Zone� C-level meetings are about change, not more of the same. C-level meetings are about change, not more of the same.

9. 9 How to be Successful at C-Level Selling Check this with heidi Check this with heidi

10. 10 Case Study - A Canoe Trip in Arkansas

11. 11 Procter & Gamble and Wal-mart - 1987 Lou Pritchard was the VP of Sales talking to the CEO of Wal-martLou Pritchard was the VP of Sales talking to the CEO of Wal-mart

12. 12 Two companies who seemed to have little in common Leader in many consumer products businesses (e.g., laundry, hair care) Consumer, but not customer driven �Push� focus Little information exchanged with customers Geographic, key account sales force Fast growing mass merchandiser behind Kmart and Sears Demanding vendor without true supplier cooperation �Sell-through� focus Little information exchanged with suppliers IT system drives decisions through Bentonville Standard buyer � seller meetings did not yield much common ground.Standard buyer � seller meetings did not yield much common ground.

13. 13 A Canoe Trip down the Spring River Sam�s Agenda Change the nature of the relationship Take system costs out of the supply chain Change the P&G focus from selling in to selling out Demonstrate the high return of an investment in Wal-Mart (e.g., people and time) Sam Walton saw things differently! The world was changing - technology was creating opportunities, suppliers and customers were consolidating, buyers and sellers were becoming less dependant on relationships and more dependant on numbers and all this led to mutual dependency. Wal-mart needed P&G �and P&G needed Wal-mart. (some will have seen Sam Walton saw things differently! The world was changing - technology was creating opportunities, suppliers and customers were consolidating, buyers and sellers were becoming less dependant on relationships and more dependant on numbers and all this led to mutual dependency. Wal-mart needed P&G �and P&G needed Wal-mart. (some will have seen

14. 14 A Fundamental Change - 2005 Dominant in many consumer products businesses Consumer and customer driven Sell-through focus Sharing consumer research 300 people team serving Wal-mart in Bentonville The World�s #1 retailer with blurring the mass, food and convenience channels Strategic vendor partnership with key suppliers Sell-through focus Sharing stores sales data IT system drives business for P&G Walton�s vision broke down barriers - that could only be broken down at the top. Both companies changed � and thrived � setting a template for the entire industry. This illustrates the types of change that C-level meetings aim for. Lead discussion about this might apply with their customers, good examples!Walton�s vision broke down barriers - that could only be broken down at the top. Both companies changed � and thrived � setting a template for the entire industry. This illustrates the types of change that C-level meetings aim for. Lead discussion about this might apply with their customers, good examples!

15. 15 Scope � Talking About the Right Things

16. 16 The Right Scope Are we talking about the right things.... Strategy Partnerships Big Ideas Scope / Perspective Trust Do we have clear objectives? Are our expectations aligned? Do we understand the context? Do I have the right information? HOW AM I CREATING VALUE? Key questions to ask when planning for a C-level meeting to determine if you have the right scope.Key questions to ask when planning for a C-level meeting to determine if you have the right scope.

17. 17 BP Key Messages Discuss who these play out at the senior level � what messages are most relevant for C-Level managers at your customers?Discuss who these play out at the senior level � what messages are most relevant for C-Level managers at your customers?

18. 18 Key Messages and Support

19. 19 Working in the C-Level �Zone� C-level meetings are about change, not more of the same. C-level meetings are about change, not more of the same.

20. 20 Setting SMART Objectives for the Meeting Any C-level meeting should have a clear SMART objective (this was used in the Account Planning workshops).Any C-level meeting should have a clear SMART objective (this was used in the Account Planning workshops).

21. 21 Do We Have Alignment for the Meeting? C-level people will expect you to have an agenda (and they will likely have an agenda of their own) What are the likely agendas? Were do they align? Where are the agendas likely to clash?C-level people will expect you to have an agenda (and they will likely have an agenda of their own) What are the likely agendas? Were do they align? Where are the agendas likely to clash?

22. 22 Leverage Areas of Alignment for Growth The way to move forward is to push against the areas of alignment.The way to move forward is to push against the areas of alignment.

23. 23 What is the Context? History Current Situation People Power In planning for a successful meeting, know the history and understand the power � how important are you to them � they to you? Mention Other Sources of Power: Legitimacy / Reputation, Knowledge, Size of organization, Time....In planning for a successful meeting, know the history and understand the power � how important are you to them � they to you? Mention Other Sources of Power: Legitimacy / Reputation, Knowledge, Size of organization, Time....

24. 24 This is what we prepare for BP Senior leaders � you should be as well prepared when meeting a C-level manager at the customer. Include this in the appendix of the pack.This is what we prepare for BP Senior leaders � you should be as well prepared when meeting a C-level manager at the customer. Include this in the appendix of the pack.

25. 25 People - Whom Should We See? Check this with heidi Check this with heidi

26. 26 What Is The Sphere Of Influence? For different decisions, there will be owners, implementers and analysts. Understanding who impacts decisions and how will lead you to the people that you need to see in the organization.For different decisions, there will be owners, implementers and analysts. Understanding who impacts decisions and how will lead you to the people that you need to see in the organization.

27. 27 Understand The Type And Scale Of Each Decision Different decisions will require different levels in the organization � the more strategic / $ size lead to C-level contacts Different decisions will require different levels in the organization � the more strategic / $ size lead to C-level contacts

28. 28 Do We Have a Contact Plan? The contact plan should be based in the types of decisions we need the customer to make, the ownership within the customer and BP resources available to support the customer.The contact plan should be based in the types of decisions we need the customer to make, the ownership within the customer and BP resources available to support the customer.

29. 29 What is the Customer Expectation? The Business Reasons... I�m the decision maker I want to change direction The Personal Reasons.. Desire to engage key suppliers Ego / Prestige - I see the CEOs of my other vendors Both... Trust Importance as a Customer It�s important to know the customer expectations � from �I don�t see vendors� to I�d love to meet Lord Browne to I like to get close to my key suppliers. It�s important to know the customer expectations � from �I don�t see vendors� to I�d love to meet Lord Browne to I like to get close to my key suppliers.

30. 30 Do Expectations Track with the Business Opportunity? Or is it a Balancing Act And sometimes these expectations need to be managed vs. the business opportunity.And sometimes these expectations need to be managed vs. the business opportunity.

31. 31 When do you bring in your boss? A few questions to test... Is this someone the account team usually sees? Could someone else have handled this meeting? Is this person at the right level vis-a-vis the decision? Are both at a commensurate level? Are our meetings getting results? Bringing in senior BP people can be a powerful tool � but one that you use sparingly. Here are some testsBringing in senior BP people can be a powerful tool � but one that you use sparingly. Here are some tests

32. 32 Who Else Is in the Meeting? How big should the meeting get? Always a trade off between cohesion and intimacy � they key is everyone should have a clear role.How big should the meeting get? Always a trade off between cohesion and intimacy � they key is everyone should have a clear role.

33. 33 Timing - How Often Should We See Them? Check this with heidi Check this with heidi

34. 34 Where Are We In The Deal Cycle?

35. 35 What Are We Trying to Achieve? This is illustrative. Look for the high value areas to impact / work in areas that the C-level contact will want to engage on. Lead discussion around what areas of C-level contacts add the most value. This is illustrative. Look for the high value areas to impact / work in areas that the C-level contact will want to engage on. Lead discussion around what areas of C-level contacts add the most value.

36. 36 What Are the Signs of Too Little Contact? When the relationship has stalled or is deteriorating and we can�t explain why When the customer is changing / growing and we don�t understand the new strategy or the impact on our relationship When you don�t know anyone above the buyer level When they tell us we are neglecting them Some indicators of not enough C-level contact � what are some others?Some indicators of not enough C-level contact � what are some others?

37. 37 Relationship � How do we work at C-Level? Check this with heidi Check this with heidi

38. 38 What Are You? Know your relationship with the C-levelKnow your relationship with the C-level

39. 39 What is the Basis for the Relationship? Knowing the relationship context can help you get into the conversation Knowing the relationship context can help you get into the conversation

40. 40 Running a successful C-Level meeting Check this with heidi Check this with heidi

41. 41 How Do I Get Things Started Agreed objective Your agenda Know their Agenda Ask questions and listen! Focus on their needs What are their investor measures, KPI�s, overall strategies and major initiatives? Common personal interests? Are they comfortable? Are you? Save the BP deck � they don�t want power points any more than you do!

42. 42 The basics apply in all meeting Remember the basics � Customer needs � the margin increases as we move up the triangleRemember the basics � Customer needs � the margin increases as we move up the triangle

43. 43 5 Questions You Want Answered in a C-Level Meeting What does a business partnership mean to you (the customer)? What do we do well for you � and where can we be a better partner? Looking at your total business - what are your key strategies for the next 3 � 5 years? What new market / regulatory / economic / social trends are starting to impact your business? As a business, what are the biggest road blocks you face today? 5 Questions to open up the conversation5 Questions to open up the conversation

44. 44 What You Do Differently With the C-Level Exercise humility � they are the customer Focus on the long term relationship / partnership Consider their style (formal or informal � suit or Hawaiian shirt) Listen, Repeat Back, Listen Again

45. 45 Turning it Around It�s All Too Quiet � don�t talk - ask questions Hostile Fire� don�t dismiss - probe to understand the problem, acknowledge understanding, try to solve (or diffuse) I Don�t Want to Go There! � You don�t have to solve it � park the issue and if you can agree a follow up (I need to discuss with my team/legal/credit/regulatory is a legitimate reason) Stuck in the Muck - Call a time out � �if our guys can work this out, where can we....� Discuss thisDiscuss this

46. 46 Preparing for the meeting SMART objectives The brief What they expect What we want What they want Do I have what they want (and how will I handle) What is my strategy for sharing information? Open and generous, Tit for tat (play nice but punish), Keep the cards close? The attendees � and their roles Practice! A dry run - Why do we practice for internal meetings and not for customers? Preparation for a C-level meeting should be more thorough � there is more at stake. Reminder on SMART objectivesPreparation for a C-level meeting should be more thorough � there is more at stake. Reminder on SMART objectives

47. 47 Follow up from the meeting Summarize your agreements in the meeting Agree next steps, timing and responsibilities Will this require a follow up top-to-top meeting? De-brief with the account team � document actions Send a follow up note confirming agreements and actions Mobilize forces beyond the account team � keep the momentum going

48. 48 Pitfalls No agenda Nothing to say Divergent expectations This isn�t what I came here to talk about! Did I agree to that? �But I can�t make that decision� I didn�t deliver the bad news (60 minutes of) why our prices are too high! Why isn�t your boss here? I�ll give this more thoughtI�ll give this more thought

49. 49 Summary Prepare Understand (the expectations) Listen & learn something about the customer Big picture, not detail Follow Up! I�ll give this some more thoughtI�ll give this some more thought