One of the biggest losses of my career in sales taught me the most important lesson I have ever learned. It can be summed up in three simple words: Know your buyer.
Several years ago, I was working on a large deal and thought my company was a shoe-in. We were working with the chief operating officer, who had access to the CEO. As we crafted our final presentation, we kept the COO’s feedback in mind. It never dawned on us that his preferences and style didn’t match the CEO’s. Our presentation was 76 slides of very dense information, and the CEO seemed bored. He never engaged and hardly looked up at the presentation. Needless to say, another company won the contract.
Based on this experience, I learned the importance of understanding the right customer. Selling is hard enough, but if you don’t connect with the decision-maker at a personal level, it’s outright impossible.
Go deeper to know what makes them tick.
It’s not enough just to identify who the top decision-makers are. You have to know what makes them tick and how they make decisions. Research shows that world-class sales organizations more frequently gain access to executive decision-makers and have stronger relationships and more conversations at the highest levels of all their strategic accounts.
Everyone has a different style when it comes to making decisions. Understanding how executive buyers make decisions and process content is the key. Research on more than 1,600 top executives discovered the vast majority fall into one of five buyer personas: Follower, Charismatic, Skeptic, Thinker or Controller. The research also uncovered how these buyer personas make decisions and respond to a direct ask. Here’s a look into the how these personas think and act – and the inside scoop on what you need to know when working with one of these individuals.
1. Follower Persona
More executives are categorized in the Follower Persona than any other, making up 36 percent of all executive buyers. Followers stick with what has worked in the past. They’re not daring and do not want to play the hero or follow their gut instinct. The only thing that matters to them is that what you’re selling has worked before – that it’s tried and true and has delivered results for another company.
Followers want something proven, not new. They will never be an early adopter of what you’re trying to sell, even if it has the potential to radically improve their business. They want to play it safe.
How do you sell to a Follower? Your presentation must be safe. Don’t make any statement or claim you can’t prove, and offer as many proof points as possible. Seed your presentation with case studies to show it works.
2. Charismatic Persona
Charismatic buyers are the second largest group, accounting for 25 percent of all executive buyers. These buyers are highly engaged and involved in the process. They want the facts – and only the facts – but they want to understand what you’re selling in the broadest sense.
Charismatic Personas tend to be very visual, so give them something to look at throughout your presentation. Make sure you allow them to talk early and often and lead the conversation. Base your presentation on strong interactions. Talk in headlines, stick to the main points and present nothing but facts. It’s what they expect and how they think best.
3. Skeptic Persona
Skeptic Personas make up 19 percent of all executive buyers. They don’t want to believe much of what you’re saying. Don’t take it personally; they are generally suspicious of everyone and everything. Here’s the key: They only want information so they can affirm the decision they already think is best.
Your primary job during the presentation is to establish credibility as quickly as possible. Prove everything you say. Then, prove it again, and keep your emotions in check if you’re challenged.
4. Thinker Persona
Thinkers make up 11 percent of all executive buyers, but if you encounter them, you’ll need a good strategy, because they care about the process. Thinkers are more concerned with control than innovation, yet they are intelligent and competitive. They want to be involved throughout the entire process.
Your presentation to Thinkers must be logical and clearly show how you’ll get them from one point to the next. Because they are so process-oriented, make sure you deal with the rewards and risks first and allow them to enjoy the process of the deal.
5. Controller Persona
Controllers make up just nine percent of all executive buyers, which is good, because they are the toughest to convince. Fortunately, they are objective and expect the same from everyone at the table. The key to selling to Controllers is to make what you’re selling their idea.
How? It’s tough, especially since they have a tendency not to participate or speak up during a pitch. Let them take ownership of what you’re trying to do, and build trust with them and the people they trust.
Ready for the challenge?
Understanding how executive buyers think and make decisions is critical to your success. When you reach this level of understanding, you can more effectively build presentations and deliver your content. When you’re faced with the challenge of presenting to an executive buyer, make sure you know exactly who you’re talking to. It’s one of the biggest steps you can take in winning your next deal.
