Tuesday, September 21, 2010

Having trouble attracting C-level buyers? Or once they buy, are you finding it difficult to get them to refer business your way?

Here's a quick checklist of some of the more exemplary things vendors do to attract C-level relationships, along with some of the more outrageous goofs vendors commit--all are real world examples from a Fortune 100 CIO who's experienced them.

Do you recognize yourself in more of the "Do's" below, or more of the "Don'ts"?

DON'T

- Send a racing car model missing the remote control, and offer to bring it if she'll agree to a meeting (an actual example).

- Walk in to a first meeting saying, "Tell me what your strategy and challenges are" or otherwise expect her to spend an hour telling you all about her issues and problems.

- Feel you have to help her "save the world" or "rip and replace" her entire system. (Better to start small and build trust.)

- Provide references to a prospective C-level buyer that aren't a good match for her business and her issues. It's a waste of everyone's time.

- Ask for a press release when the deal is signed--a major turnoff to our Fortune 100 CIO.  

- Drop in to chat with your C-level customer just when you have a reference or media request.

- Have weak CRM (customer relationship management) practices that result in things like your new customer calling in and no one knowing who he is. Or you send letters to his company addressed to his predecessor.

DO

- Walk in to that first meeting having researched her issues, so you can say, "Here's a problem I know you have, and here's how we can help."

- Learn about your C-level executive's network. Who is she connected to? If you can get a referral, or at least demonstrate you know someone in her network, that's instant credibility.

- Be willing to start small, such as offering to save her just $50,000, or even just $10,000 or even $5,000—in order to build trust. In tight times like these, even Fortune 100 C-level executives are attracted to such savings.

- Demonstrate that their investment in your solution will repay itself quickly, in the first year if possible.

- Take advantage of the significant opportunity to build relationships in tough times. Doing so can make a lasting impression. As one CIO put it, "What I look for is a partner who'll be with me in bad times as well as good."

*****

For a fuller discussion of the Do's and Don'ts of building C-level customer and referral relationships, please click. 

To turbo charge your C-level customer relationships, contact Bill Lee about our Onsite Workshops: Building a Just-in-Time Reference Capability and Bringing Customers Into Your Social Media and Lead Generation Efforts. Learn more.