As I write this in early 2023, buyer-side CFOs are taking part in a bigger position than ever in approvals of sellers’ offers — which suggests it’s vital to know how one can promote to a CFO. Belief me: I’m the CFO at Outreach, and I’ve gotten concerned in approving extra bills than I usually would.

And whereas I may be powerful, I’m additionally obsessed with serving to sellers win! So in an effort to share a few of my expertise and tip my hand on “how one can promote to me and others like me,” I lately revealed just a few LinkedIn posts sharing some recommendations on how one can promote to CFOs like myself.

The 2 posts mixed obtained virtually 200 feedback from sellers and gross sales leaders. Clearly, I struck a nerve.

So I figured I ought to sum all of it up in a single place, and develop a bit with some actual examples.

In order any individual who has been a CFO at each private and non-private firms, listed below are my high 7 ideas for efficiently promoting to CFOs that each B2B salesperson must know in 2023.

Be a part of the dialog: Suggestions for outbound concentrating on CFOs? 💬

1) The best way to disagree together with your CFO: Pull out the “why”

It’s not unusual to be in a gathering and emphatically disagree with a CFO… however how do you do that successfully?

Selecting your battles is a part of it. Take heed to whether or not your disagreement is definitely vital to the deal.

What I’ve personally discovered efficient is when salespeople ask me questions designed to tug out the “why.” They wish to perceive the idea behind my viewpoints.

On this means, they don’t seem to be instantly disagreeing with me. However by making me clarify my assumptions, they can spotlight a flaw in my logic or understanding to assist me draw a special conclusion.

One other nice trick I’ve seen is, fairly than disagree with me instantly, an worker of mine says “that’s actually fascinating.” She’ll then go on to maybe problem me, however she has first indicated that my viewpoint is legitimate.

Associated: Objection Dealing with vs Negotiation: 10 Tricks to Win the Deal 📚

2) The best way to handle a CFO’s objection about auto-renewals: Emphasize continuity of service

Some sellers are nervous about promoting auto-renewals as a result of they understand it as a lure to lock in a buyer.

Nobody ought to ever be tricked into signing up for a subscription they don’t need. However when you consider it, auto-renewal really helps an organization by ensuring they don’t lose entry to a service on which they rely. Think about how a CFO would really feel if their ERP shut off!

Not everybody will need auto-renew, however it’s completely acceptable to recommend.

And keep in mind, sellers — when you will have new merchandise to promote, don’t let auto-renewal be an excuse to not share these thrilling alternatives together with your clients.

Associated: 7 Steps to Maximize Your Renewal Success Fee 📚

3) The best way to construct rapport with a CFO: Do your analysis, and don’t give me a hangover

First — and hopefully I don’t need to say this to you empathetic salespeople — CFOs are individuals too, and we come from all walks of life.

We wish to make our firms profitable, and we’ve obtained various backgrounds and experiences. So in promoting to CFOs, look us up and study us. Attempt imagining your self in our footwear. Test your assumptions.

On constructing rapport in-person: As a result of CFOs are so busy, customary tickets to a set on the Warriors recreation might not do the trick. Wine occasions are additionally not nice as a result of we are able to’t be hungover within the morning.

CFOs love peer occasions although — so long as the opposite attendees are actually friends. Perhaps attempt pairing that with one thing that has broad attraction, just like the U.S. Open.

Associated: Issues to Preserve In Thoughts When Promoting to a CFO 📚

4) Perceive what CFOs care about: Worth Worth

You may assume we’re all about worth (and we do care about it), however actually we care about worth greater than anything. 

In consequence, with regards to software program particularly, we care rather a lot about adoption. With spend on providers or contractors, we’re focused on listening to about how precisely the assets will probably be utilized by our groups.

We now have all been burned by software program not getting used or approving a consulting expense that was not spent correctly. We have to know: Will the worth be realized from the spend? (As a result of that’s the key to realizing the ROI).

5) The best way to negotiate with a CFO: No exploding provides, please (until actual!)

CFOs know that the worth you’ve supplied hardly ever expires, so watch out with providing deadlines and reductions. Solely use the time period “last worth” when it’s actually last, otherwise you’ll lose your credibility (and likeability).

To keep away from fixed negotiations, as an alternative check your champion on pricing. (Want a script? Attempt saying, “Earlier than I am going to my boss to ask for this pricing, will you decide to signing at this supply? I don’t wish to lose my credibility.”)

6) The best way to speak ROI with a CFO: Present your work

I’ve heard some gross sales gurus declare ROI isn’t price speaking in a enterprise course of. Personally, I disagree with that declare.

I do wish to perceive ROI — however I additionally want to know the assumptions behind your mannequin, so I can validate your conclusion myself.

Don’t fear. I’m a realist right here. I do know you might be working beneath imperfect assumptions — these items are onerous to foretell. However you do have to do greater than ship me an enormous ROI quantity. Present your work, and assist me see how that ROI quantity can occur. Make it make sense.

7) The best way to win the CFO: Put together your champion to promote the result

I’ve observed sellers are optimists. Which is nice! You could be, frankly, to do your jobs in addition to you do.

However while you’re speaking to a CFO, you could focus much less by yourself agenda, and extra on being a problem-solver for this government and their enterprise.

You additionally don’t essentially want to show the CFO into your champion — you must have already got a kind of anyway.

The truth is, having a separate inside champion — not the CFO — is vital.

Associated: When You Ought to NOT Promote To The C-Suite

It’s possible you’ll by no means meet with me, the buyer-side CFO, instantly. As an alternative, I’ll be ready to listen to this key factor out of your inside champion: that they’ll personal driving a profitable end result (together with adoption).

So sellers, you could put together your champion to articulate the worth of what you’re promoting to their CFO — and their dedication to its end result.

Onerous reality: In case your purchaser shouldn’t be keen to go to bat for you with their CFO, you don’t have a champion.

Cheat sheet: The best way to have a profitable assembly together with your CFO

Do’s:

• Ship studying supplies prematurely so we are able to assessment and are available to the assembly with context.
• Make sure that your contact information is definitely accessible, together with cellphone quantity.
• Be very responsive.
• Present up like you’re a high skilled. Keep away from typos, gown professionally (even on Zoom), and have knowledgeable background (I really like the digital bookcase!). You belong within the room! Act prefer it.

Don’ts:

• Don’t simply say “thanks to your time.” Show to us that you just perceive the worth of our time by operating conferences and communications effectively. We’re very busy.
• Don’t ship us lengthy emails.
• Keep away from the time between quarter shut and earnings – we’re completely swamped.
• Timing within the deal cycle issues, too. Don’t come to us on the final minute for approval. One in all my favourite CFOs taught me this: “Your lack of preparedness doesn’t represent an emergency for me.”

Once you’re promoting to a CFO, it’s greatest to know should you’ll have to do it initially of the deal cycle. However typically you’ll get stunned by their involvement, so it’s greatest to simply be ready.

As with every part, follow makes good, so don’t be too onerous on your self in case your first offers with CFO involvement don’t go precisely as you anticipate. Simply be sure to be taught and hold transferring!