National Sales Center

Major Account Decisions Are Controlled By The CFO

We all know that when selling to major accounts, we must contact executive row.  Too often, major account reps position themselves with the CEO but overlook another “C” level executive that is sure to be part of the decision process.

Never underestimate the importance of the CFO because in the final analysis, it’s all about the budget. This is true now more than ever, due this recovering economy. Since the CFO controls the budgets, the CFO controls every major purchasing decision. This must be a factor in all your major account sales strategies.

The CFO is like the “Top Cop” and many middle managers incorrectly view the CFO as an impediment to change. Middle managers are always looking for funding and the CFO must give his or her approval before any new project can move forward. This makes it tricky to properly qualify a major account opportunity especially if the project hasn’t yet been blessed by the CFO.

So, two major account sales questions remain. When should you contact the CFO and what to say when you get there? All this must be included in your Major Account Sales Plan.

If a project has not yet been funded, you need to contact the CFO as soon as you are able to collect enough data to cost justify the purchasing decision. Failure to do so may cause you to waste a lot of time with a Department Head that can’t buy from you.

Contacting the CFO is all about the numbers. CFOs want to know that your product or service will save them money or make them more productive. They also want evidence of your claims in the form of a financial analysis. You have to cost justify the purchasing decision and don’t delegate that financial presentation to the middle manager you’ve been working with. It is up to the major account sales rep to present to the CFO. After all, if the project has yet to be approved, this is when the deal is won or lost. Use all your selling training to get the project approved.

Too many major account sales reps feel that the financial data found in their proposal speaks for itself. They feel that those numbers will eventually get to the CFO’s desk. While that may be true, the top major account sales reps want to give “life” to those numbers. They want to present to the CFO so they can immediately answer any questions and clear up any misunderstandings. My next sales training CD will be about contacting CFOs.

Major account salespeople wear many hats. They are salespeople, customer service representatives and they also need to know all about properly entertaining their clients. I hope this article reminds them that there is one more very important hat they must wear when selling a major account, financial analyst.

Make it a great day!

Nick

Tags: selling to major accounts