In today’s B2B marketing climate, getting the whole C-suite on board can be an obstacle, especially when it comes to purchasing decisions. However, when done right, it can lead to marketing proving its place in the business with real, tangible commercial impact. We spoke to Doug Winter, CEO, Seismic to discuss how the landscape has evolved over the years, as well as the importance of getting the whole C-suite on board from the beginning.
The current tech landscape: Where are we at?
So before we start, how did we initially get to where we are today?
Well, during the global recession in 2008, financial mismanagement at large companies came to light. And back then, IT owned everything. Not only was IT in control of all the budget and data centers, but teams were also responsible for how software was installed. And so at the time, IT was very powerful when it came to tech decisions. However, as time has gone on and commercial success became increasingly essential to businesses, other big players came into the fold.
Global sales enablement platform Seismic weighed in on this very topic. According to Doug Winter, CEO, Seismic, the CMO or CIO (Chief Information Officer) started making decisions and while this wasn’t necessarily a bad thing by any means, in siloed organizations, chaos ensued as some teams were signing off on tech decisions before running it past other major key players.
Doug said: “Some bad things happened at a lot of companies such as finding out they paid for four different tools to do the same thing. Or the product that they purchased is not secure enough. Or perhaps a hacker had gotten into the vendor because the organization failed to implement the right review and diligence process. And so the pendulum started to swing back into the idea of centralizing this kind of stuff a little more and put processes around it.”
As a response, there was a lot more rigor put in place around approval processes for budgets. And even if there wasn’t a mandate to get board approval or visibility, companies were often required to run decisions past auditors who could question whether or not the purchase is a responsible financial choice.
Doug continued: “This was already happening but it accelerated the move towards purchasing being done in a committed, structured and visible way. I used to joke that it’s no longer a golf course or steak dinner now, right? It’s a committee of 10 people. All the different functions have to weigh in and now you’re forced into an RFP process. It just raised the competitiveness of every deal that was happening across agencies.”
Strategies for getting the C-suite on board early on
Now that we have established why tech purchasing decisions have become increasingly critical for board approval, let’s talk about how the C-suite can get on board early on. Here are some things to keep in mind:
The CEO’s Involvement
While it’s important to get the CEO involved in tech decisions, their lens will be honed in on different criteria than someone using the technology on a daily basis. For example, CEOs will most likely question whether investing in that specific vendor is the right decision and why the organization is spending in the first place. From there, they’ll sign off based on the general consensus. So while it’s crucial to consider all aspects of a tech purchase for other stakeholders, be sure to come in prepared to pitch it to the CEO from a commercial lens instead of a technical one. For more information around becoming a commercial marketer, and proving commercial impact, we recommend checking out our jam-packed Commercial Marketing Report.
P.S. if there seems to be a disagreement on the technology purchase in question, the decision might ultimately sway to the CEO so be sure to sell it to them.
What about the other key players?
It’s also essential to consider some other key stakeholders such as the CFO (Chief Finance Officer), CIO and CDO (Chief Digital Officer) as they’ll ultimately be in positions to question purchases. One tip? Doug suggested marketing take on an account-based approach to all the various roles and create a personalized message for each stakeholder.
Doug said: “Our CRO describes it as you gotta get to all rooms of the house. In some rooms, you might not make it past the foyer, but you got to at least get into that room and talk to the people who matter. Find out what they care about. Find out whether they’re a supporter, detractor, or indifferent. And marketing can play a really strong role in terms of identifying those folks and getting in front of them.”
Influence those invisible conversations
Doug also mentioned that the conversations that matter are often the conversations that are happening, and you might not be present for them. While you can’t be everywhere all at once, you can still plant some seeds and set your technology in question up for success.
That could mean something as simple as saying that a tech vendor worked with another company you know or that someone on your team has already done a demo. The key here is building familiarity.
He said: “Having them have no familiarity leads to the opportunity for stakeholders to say ‘Oh well, why would we spend money on that? It seems like a waste. Or you should talk to this other vendor that I used before. I think they’re much better.’ So when those invisible meetings happen, ensure you’re seen in the right light. It’s a very important objective.”
Have the basics down when you present the tech
So what happens when you’re finally ready to sell a vendor to the board? Along with the three tips below, check out our Martech Spotlight Reports on AI and ABM – both include an exclusive checklist for marketing to use when investing in tech. Equally, it’s a great tool to sense-check with the C-Suite and prepare yourself ahead of time.
Some final tips to consider:
- Ensure you’re using the right language. This is something we talk a lot about in our Commercial Marketing Strategy Pack. Speak the language of the board. Typically, the C-suite will want to hear an estimated ROI or another KPI so you can measure success in a tangible way.
- Reassure the logistics. Communicate the cost, timeline of implementation, tech stack integration, and who will be responsible for the software so it’s clearly outlined. The C-suite wants to know you’ve planned beyond just investing in a vendor. Get a short-term and long-term plan in place so they’re aware of the strategic and practical insights you’ve considered.
- Be open to other suggestions. No matter how much you plan, it might not be the right avenue to explore. Make sure you know what the alternative suggestions might be so you can either counter it or be open to another tech platform.
