We’re finding that many of our opportunities get stalled, or derailed because IT. There are multiple scenarios we’re running into. Here are a few:
- No IT resources available / committed to other projects
- They are in the midst of a “BIG” implementation (Salesforce, other key platforms) and want to wait until that one is over before they move ahead
- IT is saying they can build it themselves
etc.
I know there are many things we can be doing to mitigate that risk. I’m specifically interested in learning if anyone here has put together a document (or package of documents) specifically geared towards the technical buyer with the purpose of giving them everything they need to give the go-ahead.
For CFOs, that would typically be a business case and investment plan.
What would the parallel be for the CIO?
Thanks!
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@ran.haimoff I love the build vs buy conversation. Seriously they are super fun and one I see a lot in California.
Specific to your question, it kind of depends on ITs role in your solution. In general, I am not sure there is a significant difference between what you would send to a CFO vs a CIO.
I have a ton of questions but wanted to get to you question quickly.
I would suggest understand the CIOs top initiatives and how they align to the overall corp initiative and build a story around it.
If your solution helps the business increase profitability, then tap into how the CIO can contribute.
I like the ying/yang of Challenger Sales and The JOLT Effect.
My questions:
(1) Who is the EB?
(2) Who from IT is pushing back? Is it a Director, VP, System Admin, etc?
(3) Do you have a strong Champion or Army of Champions?
(4) What are the politics between the business and IT?
(5) Who are you selling to (ie Business or IT)?
(6) What resources are needed from IT?
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Great topic of conversation, @ran.haimoff. IMO, I would agree with @greg.nishihira, there’s not much of a difference between a business plan or investment plan for the CIO v CFO, in today’s world. At the end of the day, it’s going to end up on the CFO’s desk anyway. With the macro-economic downturn every single dollar is being scrutinized by that individual.
It’s not even a matter of “Budget” anymore. Budget’s are being reduced and slashed. So, CFO’s are looking at purchases in regards to “Unbudgeted funds” or “Investment capital”.
If we could identify and uncover the actual pain of Named Executive Officers (NEOs), i.e.: SG&A expenses on the their PNL and who’s Executive Compensation is directly being affected and how we can help with rectify their pain, I think that Business Plan or Investment Plan would resonate better with the CFO and the CIO.
Thanks for the topic, Ran.
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Stop selling to those types of IT teams and pivot to the business by asking questions IT can’t possibly answer and have then introduce you to the people who can. Stop solutioning and product puking. That’s weak. Challenge them with questions that make their head hurt. Talk about their customers: how do they get them, reduce churn, make them happy. Use Bing Chat Enterprise to develop Business and Value Proposition Canvases to gather business information about the company and help you to pinpoint areas you can ideate with them to solve real business problems.
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Hi, @greg.nishihira, great insight.
Quick update is that we had a chance to sit down with a former CIO of a high flying tech company and he 100% validated your point - CIOs want to be treated as you would any other C-suite executive. Talking to them about how our solutions might support the company’s corporate level initiatives and strategies.
They leave the more technical IT conversations to their teams. The IT resourcing and scoping, integrations, etc. those are not what the CIO said he’s focusing on.
Thanks!
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100% - see my comment to @greg.nishihira’s comment. CIOs and CFOs ultimately care about corporate level metrics. Thanks!
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Awesome @ran.haimoff !!! I have been reading The JOLT Effect (highly recommend if you haven’t picked it up) and one of the messages that will resonate with CIOs is the Fear of F’ing Up. Many IT projects go side ways, you need to elevate their level of comfort that you will be able to deliver the goods.
The is more to the book, but here are some initial takeaways/personal thoughts…
(1) Find the business pain in terms of metrics the execs want to achieve.
(2) understand and align your solution to how you can help them achieve or your contribution to achieve such metrics. IMO there isn’t one solution that can achieve any one metric.
(3) be real with the Executive
(4) Once you confirm the metrics that matter understand build the “whys”. (a) Why Change (b) Why Now, and (c) Why your solution
(5) Have a story with activities to support how you are going to make them successful. As an example, help build the business case which will include contributions to the Corp Metrics. Then run a Value Realization exercise where you leverage the base line identified in the Business Case and track improvements towards the targeted metrics. Essentially, the Value Realization will show how “close to the pin” you got. Holding Quarterly meetings with the Exec Sponsor will ensure you are no further than 3 months from the last touch point AND gives you the opportunity to get infront of a potential train wreck. Wrapping a nice bow around everything, you need to show how you are going to manage delivering value (ie Value Assurance Program).
I may have mentioned this before on a previous roundtable or forum, but I used to ask these questions back when I was going after new logos. I think they also apply to existing customers as well…
(1) Tell me about a project that epically failed and why
(2) What was the impact to you personally and professionally?
I honestly believe the Fear of F’ing Up is very real…especially today when dollars are super hard to get.
@ran.haimoff Keep up the great work! Sounds like you are having the right conversations with the CIO!
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