In our conversations with sales and marketing pros, we hear that the sales environment is more competitive than ever. They see customer insight as giving them a competitive edge–and this desire to know their customers better leads them to us.
Almost invariably, they see our CXO database as a way to get the customer insight they need without having to spend precious nights and weekends doing their own research.
But more times than we can count, the conversation eventually turns to: “Now how can I use this information?”
Because as valuable as CXO insight is, it’s what you do with it that drives results.
Most of our customers use our content to uncover new sales opportunities and understand an executive’s main focus so they can craft communications that cut through the clutter.
But a few customers are using our insight in more novel and creative ways. Here are the three that have caught our interest recently:
I. Executive Sponsor Matchmaking
Most enterprise companies have robust executive sponsorship programs for top customers. Instead of randomly assigning executives to top accounts, one company uses our insight to create the perfect match between executive sponsor and customer CXO. For example, one CIO they wanted to engage had spent 25 years in the Army before moving into the private sector. So they matched him up with one of their own executives who was also an Army vet. They figured that having this strong affinity in common increased the chance that the relationship between the two executives–and the two companies–would progress and thrive.
II. Creating The Right Hospitality Experience
From golf tournaments to sailing regattas, sales organizations spend untold sums every year entertaining top customers at exclusive-access events. Wouldn’t it help to know what kinds of activities interest them? One of our customers hosted a viewing party for a cricket match happening on the other side of the world. They used Boardroom Insiders to identify US-based executives who are crazy for cricket. Another customer decided to host an event at an aviation museum after they discovered that a significant percentage of their public sector executive customers were licensed pilots.
III. Recruiting Expert Speakers
Most enterprise companies host thought leadership events to get face time with customers and prospects. Creating the right agenda and content is critical to being able to attract the right people to these events. One of our customers mines our database for common careabouts across target execs and then creates their agenda accordingly. Once the topics have been identified, they take it a step further, using our profiles to find executive speakers who have something new or novel to say about a chosen topic. One year we helped them identify the perfect keynote speaker for their most important annual customer event.
These are just some of the ways that companies are using Boardroom Insiders to better engage executive decision makers.
Is CXO engagement a priority for your company? If so, contact Lee Demby at lee@boardroominsiders.com.
Where I’m from (the south), “storytelling” is a term often used for slick-talk’n hucksters. People who start their tales with an audience of one, and end up attracting an audience of many, usually to garner a laugh, preach a sermon, or setup a sales pitch (sometimes all three at once).
Because Boardroom Insiders is in the business of helping sales pros craft a more relevant story, I’ve become fascinated with the art of storytelling as it relates to enterprise sales. And it appears that I’m not alone. John Burke, Oracle’s Group VP , “has become a big believer in the power of storytelling when it comes to sales acceleration.”
More from John: “Probably the biggest change has been consciously interlacing some humility into my stories… Nobody is perfect and no company is perfect. It alienates customers when executives and salespeople try to pretend that they’re like Superman and will fix all their problems.”
“Before I was conscious about my storytelling, I would talk about facts and figures, this much faster, that much productivity improvement, etc. and after a typical speech I’d get one or two people who wanted to speak with me. Now that I’m telling real stories that exhibit real emotion and real humility, I have 20 or 30 people come up afterwards. People react positively to real stories about real people.”
To further explore using stories to drive sales, John Burke engaged famed selling consultant Michael Bosworth and the guru of sales listening, Ben Zoldan. In an interview, Bosworth explained, “At a basic level, the top reps were selling more intuitively. They had a better sense of the customer and were better able to connect with the customer’s emotions about purchasing. More specifically, it turns out that they were able to achieve this level of rapport largely through a skill that not only wasn’t taught in sales training, but which has been largely ignored in the business world: storytelling.”
The point is, productive storytelling doesn’t come naturally for most sales reps—including, as it turns out, John Burke–and he’s as successful as they come. He recognized this, and humbled himself to perfect his craft, developing a sincere method of telling stories that earn trust, and convert big prospects to loyal customers.
The opportunity is there for all of us. And the cool part is that we can draw from our own authentic and personal stories, and not rely just on those of the companies we represent.
Only professional sales reps understand this moment. The moment when they’ve finally earned the right to meet in person with THE most senior decision maker of their largest account.
Lee Demby
Principal
lee@boardroominsiders.com
704.756.0894
Two weeks ago we published a list of Fortune 250 CIOs who are women, along with some thoughts about why you should care. This post generated record interest, so we are happy to continue this topic, by completing the list of female CIOs from companies numbered 251 through 500.
One note: we inadvertently left out Dell’s new CIO, Adriana Karaboutis (Dell is ranked 41 on the Fortune list). We also heard about a couple of other CIOs who have moved on, so we corrected the Fortune 1-250 female CIO list. Thanks to all our eagle-eyed readers for helping us out.
Now for the Fortune 251-500 list:
261: Norfolk Southern, Deborah Butler
264: Huntsman, Maria Csiba-Womersley
272: Ashland, Anne T. Schumann
277: Caesars Entertainment Corporation, Katrina Lane
318: Thrivent Financial for Lutherans, Holly J. Morris
324: Winn-Dixie Stores, Maura Hart
327: Eastman Kodak, Kim VanGelder
338: Peabody Energy, Lina Young
332: Darden Restaurants, Patti Reilly-White
360: CMS Energy, Mamatha Chamarthi
362: NiSource, Violet G. Sistovaris
393: Franklin Resources, Priscilla Moyer
453: Big Lots, Lisa Bachmann
454: Con-way, Jacquelyn A. Barretta
465: General Cable, Coco Taliaferro
Also note the companies that fell out of the Fortune 500 ranks in 2011 that also have female CIOs:
P.S. We are not perfect and despite our best efforts to keep this list up-to-date, often changes are made without a timely announcement. If you notice someone missing from this list or see an error, let me know by contacting me at Sharon@boardroominsiders.com.
Sharon Gillenwater
Founder, Principal and Editor-in-Chief
Boardroom Insiders
Women who achieve the rank of Chief Information Officer–in the Fortune 250 no less–are some of the most interesting executives we cover. IT has long-been a primarily male domain, as have the fields of science and engineering. In our profiles of these CIOs, there are many stories about being the only woman in the class, the department or the boardroom. They have defied the odds to reach one of the most interesting and coveted C-level positions, which everyone agrees sits at the influential nexus of business and technology.
Companies in the tech space are trying desperately to build relationships with CIOs. As consultants, we have counseled them to go after female CIOs as a special affinity group by creating a targeted program designed to reach and engage this elite group of women. So far no one is doing this well, as far as we know. In fact, no one seems to even realize that 19.2% of Fortune 250 CIOs are now women–up from 10% just a few years ago.
In the interest of supporting you, our customers, we are publishing the complete list of female Fortune 500 CIOs (or their functional equivalents) below, by Fortune ranking and company. In our next newsletter, we will publish the Fortune 251-500. If you are interested in learning more about these women, Boardroom Insiders publishes in-depth profiles of them all. To learn more, contact Lee Demby @ lee@boardroominsiders.com or 704-756-0894.
1: Walmart: Karenann Terrell (see sample profile)
2: Exxon Mobil, Ellen McCoy
9: Bank of America, Cathy Bessant
18: IBM, Jeanette Horan
19: Cardinal Health, Pat Morrison
24: Valero Energy Corp., Cheryl Thomas
33: Target, Beth Jacob
36: Boeing, Kim Hammonds
37: State Farm, Sandy Arnold
40: Johnson & Johnson, LaVerne Council
41: Dell, Adriana Karaboutis
42: Wellpoint, Lori Beer
44: United Technologies Corporation, Nancy Davis
47 Best Buy, Jody Davids
52 Lockheed Martin, Linda Gooden
56: Intel, Kimberly Stevenson
62: Cisco Systems, Rebecca Jacoby
64: Prudential Financial, Barbara Koster
65: Walt Disney, Susan O’Day
67: Sysco, Twila Day
70: Coca Cola, Ann Taylor
71: New York Life Insurance Company, Sue Ericksen
77: Aetna, Meg McCarthy
87: TIAA-CREF, Annabelle Bexiga
88: Delta Air Lines, Theresa Wise
102: Publix Super Markets, Inc., Laurie Zeitlin
104: Raytheon Company, Rebecca Rhoads
106: Travelers Companies, Inc., Madelyn Lankton
116: Motorola Solutions, Leslie M. Jones
119: TJX Companies, Kathy Lane
120: Emerson Electric Company, Kathleen McElligott
121: Xerox, Carol Zierhoffer
150: The AES Corporation, Elizabeth Hackenson
162: Dominion Resources Inc., Margaret McDermid
163: Amgen Inc, Diana McKenzie
174: CBS, Amy Berkowitz
177: PG&E, Karen Austin
191: Sara Lee Corporation, Ann Teague
203: Dean Foods Company, Barbara Carlini
205: Southwest Airlies, Jan Marshall
219: SAIC, Amy Alving
227: Thermo Fisher Scientific, Ina Kamenz
239: Unum Group, Kathleen Owen
240: Progress Eneergy, Inc., Dorothy Ramoneda
241: Praxair, Inc., Melissa Buckwalter
250: Jacobs Engineering Group, Inc., Cora Carmody
P.S. We are not perfect and despite our best efforts to keep this list up-to-date, often changes are made without a timely announcement. If you notice someone missing from this list or see an error, let me know by contacting me at Sharon@boardroominsiders.com.
Sharon Gillenwater
Founder, Principal and Editor-in-Chief
Boardroom Insiders
If you’ve seen our messages before, you might know that Boardroom Insiders delivers the most complete profiles of C-level executives on the market today.
One of the most common questions we are often asked is, “Who uses your service–and why?”
For a quick overview of our value proposition, check out this short video from Principal Lee Demby:
If in-depth information on executive decision makers could help you win more business in 2012, we would love to talk with you. Contact Lee today at Lee@boardroominsiders.com.
Having worked on CXO-facing programs for more than a decade, I think I have a pretty good idea of what works and what doesn’t when it comes to getting attention and establishing credibility. But whenever I get a chance to chat face-to-face with someone in a C-level position, I like to validate my theories.
Recently I was presented with such an opportunity when I found myself sitting next to a CIO at Oracle OpenWorld. He showed an interest in what Boardroom Insiders does, so I took the liberty of picking his brain. “What makes the difference,” I asked, “in someone earning your attention…or not?”
First off, he admitted that he never answers his phone. With no assistant, he would be fielding calls all day if he did. He also told me that he only returns voice mails that show that the caller knows something very specific about him or his business–and has a value proposition that is relevant. “If I can see someone has really done their homework,” he said, “I think they deserve a call back. Otherwise I just don’t have the time.”
Only those who demonstrate that they understand his business and have the potential to add value–either by solving a problem or sharing some new information–get an in-person meeting. At that point, he said, he is appreciative when someone has taken the time to learn something about him personally. A Cuban who immigrated to the US as a child, he recalls being impressed when a new contact referenced another prominent member of the Miami Cuban community who was also in technology and was a reference customer. “It shows they care about taking the extra time to learn about me–that they are interested in building a relationship, not just making a quick sale,” he said. “Those are the type of vendors and account reps I am looking for –the ones who have invested for the long haul.”
All of this sounds pretty old school, doesn’t it? Sales has always been built on relationships, trust and “who you know.” And despite all the new ways of finding and reaching people, nothing has really changed. In fact, I would argue that the personal touch is more important than ever, because it helps you cut through the noise of unsolicited LinkedIn requests, mass emails and script-driven telemarketing. Smiling and dialing just doesn’t work anymore–better off spending some of that time researching your top prospects, or letting us do it for you.
Might seem like common sense, but it is so seldom done. Are you ready to hit the ground running in 2012? Stay tuned to this blog for more tips on how to be relevant to your CXO customers and prospects.
Over the years our executive profiles have supported many account based marketing programs (ABM). If you are not familiar with ABM, it is basically this: creating a strategy, communications and touchpoints tailored to the needs and careabouts of a single mega-account. Think Nike, Bank of America, UnitedHealth. ABM has been proven to accelerate the sales cycle as well as uncover net new sales opportunities.
We are often asked to consult on ABM programs and our advice is always the same: keep it simple.
Simplicity is key because ABM can get overwhelming very quickly. First, you have to acquire deep knowledge on each account and its decision makers–this is where we come in, providing you with in-depth insight into companies and executives. Secondly, you have to secure buy-in to such a program from internal stakeholders–someone needs to commit to doing the work. And finally there is scale to consider. You can spend many hours mapping out an ABM strategy for one account–how do you scale this across dozens of customers?
We offer three ABM tips for minimizing risk and maximizing success. They are as follows:
1. START SMALL: Begin by creating an ABM pilot for a handful of accounts.
2. KEEP IT SIMPLE: Focus on your customer’s basic careabouts. These might include business topics that are top of mind, personal interests and hobbies (golf anyone?) and how/where they like to engage with other business leaders, such as an industry conference or charity event.
3. CHOOSE THE RIGHT PARTNER(S): Engage with account teams who want ABM and are willing to collaborate with you. Ideally, you also want to choose accounts where you can add the most value (e.g., it has been challenging to “move the needle”)
At Boardroom Insiders we are passionate believers in ABM–it’s why we do what we do. We have a best practices presentation on ABM that we are eager to share with those of you who are embarking your own ABM journey. Interested? Contact us at lee@boardroominsiders.com.
Many successful businesses were started by people who developed a simpler way to perform their job. There was a fundamental need, a “must do” part of their success formula that took too long, involved too many people, or was costly to perform. So, they “scratched their own itch” and started a niche business completely focused on making life easier for the millions of people who share the same “must do’s”.
For over a decade I’ve been selling enterprise solutions to Fortune 500 companies. Anyone familiar with developing business in this space knows the importance of sales call preparation, and the in-depth research required. They also know the process can be a real slog, a true time vacuum. I knew 80% of my competitors wouldn’t do it, or would do it very poorly.
To get in and stay in the door with key decision makers, I would go well beyond researching industry dynamics and quarterly reports. I would spend the extra time to seek out the role-specific pain points, the personal focus issues, and timely quotes that helped me speak directly to what the executive cared the most about. Personal interests that I could build my solutions around.
Finding this kind of insight was my “itch”. Boardroom Insiders executive profiles was my “back scratcher”. I joined this early stage company about a year ago as I believe there are tens of thousands of strategic-minded sales pros out there who are searching for the same back scratcher every day.
The “Rule of Thirds” is really quite simple, but we think a powerful lesson lies within. Follow me for a minute.
Group A – This is the top 1/3 of your sales pros that drive the lion share of revenue and profit. These are the perennial “President’s Club” winners. It doesn’t matter which troubled accounts they have, or which storm-prone industry they work in, they will not be denied. They have the ability to engage decision makers and consistently stay in front of them. Cold calling new business seems to come naturally for them. Always growing.
Group B – This is the middle 1/3 of your sales pros that are always bouncing around their goals. Sometimes hitting 100%, but often having to pull a rabbit out of a hat at the end of the year to do so. When talking to these sales pros in Group B, they look and sound just like the ones in Group A, but something is missing. These sales pros normally know who their account decision makers are, but rarely speak with them. No growth, but no losses.
Group C – Unfortunately, in every sales organization there is a Group C. Group C is the 1/3 of the sales pros that interviewed well, they looked good on paper, but for reasons that could take up the rest of this blog…they just don’t work out. Enough said.
All sounds pretty familiar, right?
Here’s the catch, and the real opportunity. There really isn’t that much difference between the sales pros in Group A and Group B. And getting Group B sales pros to perform more like those in Group A might be easier than you think.
The difference is that Group A’s top sales performers are resourceful. They will not wait for marketing or sales leadership to empower them. To get the competitive edge, they will spend the extra two or three hours digging through the internet looking for buying triggers, personal interests, and pain points critical to C-suite engagement…all well beyond the tools and resources you currently provide them. Providing this group with more “data” does little for them. Providing them with finger-tip strategic insight makes them instantly more efficient and you become the hero again. No coaching needed.
Your real opportunity to move the revenue needle lies within Group B. This group is not as resourceful. They may not prepare for sales calls adequately (or at all) because they “can’t” invest the research time needed to prepare adequately. They will wait for management to provide direction, for marketing to give them the business intelligence tools to elevate their game.
So give it to them. Take the “I don’t have time to research” excuse out of the equation. Give them a simple, but deeply researched resource that is easy to bake into their voicemails, emails, and in-person dialogue. It doesn’t matter how cleverly integrated they are, this group will waste tons of time with the “data-by-the-pound” information tools most enterprise marketers provide their teams. This group needs simple – easy – fast, not noisy and complicated information tools.
So I ask again, what would happen to your sales goals if you could get some of your second-tier sales pros to perform more like your top-tier performers?
More from John: “Probably the biggest change has been consciously interlacing some humility into my stories… Nobody is perfect and no company is perfect. It alienates customers when executives and salespeople try to pretend that they’re like Superman and will fix all their problems.”
