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What is C-Level?
The management / operating board of a company
• CEO, COO, CFO, CIO, CMO...
• General Manager, VP Marketing, VP Operations...
Who plays this role in your customers’ organizations?
• LDC
• Utility
• Industrial...
3
What is different when selling to the C-Level?
• What is the role of C-Level Selling?
• When should you engage at the C-Level?
• How is your role different in a C-Level meeting?
• How does the BP message vary at the C-Level?
• How do you get into conversation with the C-Level of a customer?
• How to conduct a C-Level customer meeting?
• What do customers want from C–Level meetings?
• How to sustain momentum, agreements and achievements made at C-Level meetings?
4
C-Level Keys to Success
Time
People
Scope
ObjectivesObjectivesObjectivesObjectives
Follow UpFollow UpFollow UpFollow Up
Com
mun
icat
ion
Com
mun
icat
ion
Com
mun
icat
ion
Com
mun
icat
ion
Structure
Structure
Structure
Structure
Relationship
5
Outline for Session
The Role of The Role of C-Level C-Level SellingSelling(why)(why)
The Role of The Role of C-Level C-Level SellingSelling(why)(why)
Scope(what)
Scope(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
People(who)
People(who)
Timing(when)
Timing(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
Relationship(how)
Relationship(how)
7
The Role of C-Level Selling
• Go beyond the deal
• Float / develop the big ideas
• Learn more about the customer’s strategic direction
• Expand the scope - larger geography, across divisions
• Expand the size – bigger % of business, longer partnership
• Change of nature of the relationship - transactional to strategic
• Change the direction of the relationship
Are You Building BP Equity with the Customer?Are You Building BP Equity with the Customer?
8
CC––LevelLevelCC––LevelLevel
Buyer’sBuyer’sManagerManager
Working in the C-Level “Zone”
Step Change (nature, size, scope)
Direction Change (accelerate speed, break through, reverse)
Buyer
9
How to be Successful at C-Level Selling
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
Scope(what)
Scope(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
People(who)
People(who)
Timing(when)
Timing(when)
How to be How to be successful at successful at
C-Level C-Level Selling Selling
How to be How to be successful at successful at
C-Level C-Level Selling Selling
Relationship(how)
Relationship(how)
11
Procter & Gamble and Wal-mart - 1987
“It was we sell, you buy, good bye”Lou Pritchard, VP Sales Procter & Gamble. Wall Street Journal January 31, 2005
“Another big supplier” “Another big customer”
12
Two companies who seemed to have little in common
• Leader in many consumer products businesses (e.g., laundry, hair care)
• Consumer, but not customer driven
• “Push” focus
• Little information exchanged with customers
• Geographic, key account sales force
• Fast growing mass merchandiser behind Kmart and Sears
• Demanding vendor without true supplier cooperation
• “Sell-through” focus
• Little information exchanged with suppliers
• IT system drives decisions through Bentonville
13
A Canoe Trip down the Spring River
Sam’s AgendaSam’s Agenda
• Change the nature of the Change the nature of the relationshiprelationship
• Take system costs out of the Take system costs out of the supply chainsupply chain
• Change the P&G focus from Change the P&G focus from selling in to selling outselling in to selling out
• Demonstrate the high return Demonstrate the high return of an investment in Wal-Mart of an investment in Wal-Mart (e.g., people and time) (e.g., people and time)
Sam’s AgendaSam’s Agenda
• Change the nature of the Change the nature of the relationshiprelationship
• Take system costs out of the Take system costs out of the supply chainsupply chain
• Change the P&G focus from Change the P&G focus from selling in to selling outselling in to selling out
• Demonstrate the high return Demonstrate the high return of an investment in Wal-Mart of an investment in Wal-Mart (e.g., people and time) (e.g., people and time)
ChangingTechnology
ChangingTechnology
More Professional
Buying / Selling
More Professional
Buying / Selling
Industry Consolidation
Industry Consolidation
Growing Mutual
Dependence
Growing Mutual
Dependence
14
A Fundamental Change - 2005
• Dominant in many consumer products businesses
• Consumer and customer driven
• Sell-through focus
• Sharing consumer research
• 300 people team serving Wal-mart in Bentonville
• The World’s #1 retailer with blurring the mass, food and convenience channels
• Strategic vendor partnership with key suppliers
• Sell-through focus
• Sharing stores sales data
• IT system drives business for P&G
“It’s a lot like a marriage, sometimes you want to slice each other’s throats and there are other times when it is a love in” - Lou Pritchard, ex-VP Sales Procter & Gamble. Wall Street Journal January 31, 2005
15
Scope – Talking About the Right Things
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
ScopeScope(what)(what)
ScopeScope(what)(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
People(who)
People(who)
Timing(when)
Timing(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
Relationship(how)
Relationship(how)
16
The Right Scope
• Are we talking about the right things....
− Strategy
− Partnerships
− Big Ideas
− Scope / Perspective
− Trust
• Do we have clear objectives?
• Are our expectations aligned?
• Do we understand the context?
• Do I have the right information?
• HOW AM I CREATING VALUE?
17
BP Key Messages
#1 Energy Merchant #1 Energy Merchant in the U.S.in the U.S.
#1 Energy Merchant #1 Energy Merchant in the U.S.in the U.S.
InfrastructurInfrastructuree
InfrastructurInfrastructuree
SupplySupplySupplySupply
BP will provide your most reliable supply, and we are involved in every
major geographical region in North America
BP will provide your most reliable supply, and we are involved in every
major geographical region in North America
Need significant investment in infrastructure to connect new supply to market (low cost & efficient). Also,
in 2005, many BP projects will be in the public eye. (GOM, Alaska, LNG)
Need significant investment in infrastructure to connect new supply to market (low cost & efficient). Also,
in 2005, many BP projects will be in the public eye. (GOM, Alaska, LNG)
The market works: a clear regulatory and policy framework allows supply, infrastructure and market to come together in a timely and efficient
manner, which benefits all market participants.
The market works: a clear regulatory and policy framework allows supply, infrastructure and market to come together in a timely and efficient
manner, which benefits all market participants.
Gas prices rising to level that will destroy demand
Demand rising from power
Gas prices rising to level that will destroy demand
Demand rising from power
FundamentalFundamentalss
FundamentalFundamentalss
We are working to be your provider of choice, and we commit to deliver
through:Service, Operations, Risk
Management, Fundamentals & Expertise.
We are working to be your provider of choice, and we commit to deliver
through:Service, Operations, Risk
Management, Fundamentals & Expertise.
We are in the power business with a #5 ranking in volume and participating in
multiple regions in the US.
We are in the power business with a #5 ranking in volume and participating in
multiple regions in the US.
RegulatoryRegulatoryRegulatoryRegulatory
Market & Market & CustomersCustomers
Market & Market & CustomersCustomers
PowerPowerPowerPower
18
D. Regulatory - assuring great
gas markets
D. Regulatory - assuring great
gas markets
E. Market & Customers –
assuring great gas markets
E. Market & Customers –
assuring great gas markets
2. LNG2. LNG
3. Gulf of Mexico3. Gulf of Mexico
5. Mackenzie Delta5. Mackenzie Delta
4. Rockies4. Rockies
1. Alaska1. Alaska
B. Supply – Many great gas
projects in good hands
B. Supply – Many great gas
projects in good hands
2. Gas2. Gas
1. Products & Services1. Products & Services
3. Price & Volatility3. Price & Volatility
2. Service2. Service
a. Physical & Financiala. Physical & Financial
b. Electricityb. Electricity
c. Expertise in fundamental analysisc. Expertise in fundamental analysis
1. Alaska Pipeline Project1. Alaska Pipeline Project
2. LNG Terminals2. LNG Terminals
4. Shipping4. Shipping
3. Rockies – Kern River & Cheyenne Plains
3. Rockies – Kern River & Cheyenne Plains
C. Infrastructure – Many great gas projects in good
hands
C. Infrastructure – Many great gas projects in good
hands
A. FundamentalsA. Fundamentals
1. Demand1. Demand 2. Supply2. Supply 3. Market3. Market
a. Security of Supplya. Security of Supply
b. Customer Satisfactionb. Customer Satisfaction
c. Quality of Supplierc. Quality of Supplier
FederalFederal
StateState
InfrastructureInfrastructure
SupplySupply
MarketMarket
ii. Emissionsii. Emissions
1. General Principles1. General Principles
3. Power3. Power
Key Messages and Support
19
C-LevelC-LevelC-LevelC-Level
Buyer’sBuyer’sManagerManager
Working in the C-Level “Zone”
Step Change (nature, size, scope)Step Change (nature, size, scope)
Direction Change (accelerate speed, break through, reverse)Direction Change (accelerate speed, break through, reverse)
Buyer
21
Do We Have Alignment for the Meeting?
Outcomes (Things You Want)
Essential Desirable Possible
Outcomes (Things They Want)
Essential Desirable Possible
Areas of Alignment
______________________________________________________________________________________________________
Areas of Mis-Alignment
______________________________________________________________________________________________________
22
Leverage Areas of Alignment for Growth
Areas of Alignment
______________________________________________________________________________________________________
Areas of Mis-Alignment
______________________________________________________________________________________________________
Leverage These for GrowthLeverage These for Growth
Acknowledge and Understand TheseAcknowledge and Understand These
23
What is the Context?
• HistoryHistory
• Current SituationCurrent Situation
• PeoplePeople
• PowerPower
Development Opportunity
Critical Strategic Fit
Ignore Exploit
SizeSizeSmall LargeSmall Large
Customer & BP View
Str
ateg
icS
trat
egic
No
Y
esN
o
Yes
SizeSizeSmall LargeSmall Large
No
Y
esN
o
Yes
Str
ateg
icS
trat
egic
Development Opportunity
Critical Strategic Fit
Ignore Exploit
How important are How important are you to them – you to them – they to you?they to you?
24
Example of Senior Level Visit Brief
Overview of “Customer”Executive Brief For Tim Bullock
J anuary 2005
DRAFT
Overview of “Customer”Executive Brief For Tim Bullock
J anuary 2005
DRAFT2
2
Commerc.
Market Agg.
Industrial
IPP
Muni
IOU
LDC
(6) Cost Reducers
(5) Business
Buyers
(4) High Touch
(3) Best of Breed
(2) Maintainers
(1) Reliability Seekers
Commerc.
Market Agg.
Industrial
IPP
Muni
IOU
LDC
(6) Cost Reducers
(5) Business
Buyers
(4) High Touch
(3) Best of Breed
(2) Maintainers
(1) Reliability Seekers
Customer OverviewObjectives:• Support continued growth at FPL and FPL Energy with balanced f inancing plan• Investigate opportunities that leverage core strength of operational excellence• Finance major new investments with balance of debt and equity• Explore gas infrastructure / LNG• Unlock FPL’s Energy plant’s option valueMajor products and services: electricity generation, transmission, and distribution; energy trading
Florida
Pow
er &
Lig
ht G
roup
Best of Breed (FPLE): Desire to work with best of breed suppliers; relationship is important; open to outsourcing; want to increase efficiency
Reliability Seeker (FPL): Need secure supply; less price sensitive; interested in fresh ideas and education around the market
Account History: FPL Company• FPL has been a BP customer for 10+ years but only in the past 2 years have volumes been significant in excess of 100,000
MMBtu/day, largely from Destin Deepwater supply• Relationship strengthened significantly after the demise of Enron and the growth of our deepwater production• Closed several physically embedded options in 02/03, but changes in FPL risk management philosophy has precluded any further
deals of this sort• FPL has recently changed their No. 6 fuel oil specs enabling BP's Residual Trading group to sell 2 cargoes of No. 6 sourced from
Europe at competitive pricesFPL Energy• Developed and executed a 5-year exclusive Gas Service and Supply Agreement, under which BP would supply 24Bcf p/year to FPLE
Blythe, a new 520Mw power plant in southeastern California. BP s ecured a position in a key growth sector/geography and have accessed commodity margin, fixed price/financial flow and market knowledge.
• ProGas Limited, a Producer Aggregator Pool wholly owned by BP, has been providing 72,000 MMBtu/d of gas under long term arrangement (1991 to 2012) to two cogens in New England that are jointly owned with Tractabel. In the last 18 months, ProGas and FPL/Tractabel has successfully negotiated 3 different termination agreements resulting in payments to the ProGas Pool members of $US 24, 12 and 7 Million respectively. ProGas and FPL/Tractabel are currently negotiating the final termination agreement. BP has replaced ProGas as a short term supplier at Niagara.
Primary Customer Needs:• Cost effective and flexible solutions/pricing (physical/financial)• Reliable gas supply
FPL Group, Inc. is a public utility holding company with annual revenues of $9.6 billion in 2003 and presence in 25 U.S. states. Through its wholly owned subsidiary, Florida Power & Light Company (FPL) and its wholly owned indirect subsidiary FPL Energy, LLC, it is engaged in the generation, transmission, distribution and sale of electric energy. FPL, a rate-regulated public utility, accounts for 90% of the group’s revenues, distributes electricity to 4.1 million customers and has 19,000 MW of generating capacity from interests in nuclear and fossil-fueled power plants. FPL is one of the largest burners of natural gas in the Southeast with peak burns in excess of 1 bcf/d. In addition, FPL is also the largest burner of No. 6 Fuel Oil in the U.S. FPL Energy (FPLE), an unregulated LLC, is a leader in producing electricity from clean and renewable fuels. FPL Energy operates power plants across the country, leads the U.S. in generation of wind energy, and operates the two largest solar fields in the world.
$MM
• Cross Commodity – Gas/Oil/Power• Reliable oil supply
Business Challenges: • Secure stable and reliable supply• Strengthen financial discipline through hedging program, liquidity, and a conservative balance sheet• Maintain credit and improve cash flow• Improve operational excellence
Share Price
DRAFT
2
2
Commerc.
Market Agg.
Industrial
IPP
Muni
IOU
LDC
(6) Cost Reducers
(5) Business
Buyers
(4) High Touch
(3) Best of Breed
(2) Maintainers
(1) Reliability Seekers
Commerc.
Market Agg.
Industrial
IPP
Muni
IOU
LDC
(6) Cost Reducers
(5) Business
Buyers
(4) High Touch
(3) Best of Breed
(2) Maintainers
(1) Reliability Seekers
Customer OverviewObjectives:• Support continued growth at FPL and FPL Energy with balanced f inancing plan• Investigate opportunities that leverage core strength of operational excellence• Finance major new investments with balance of debt and equity• Explore gas infrastructure / LNG• Unlock FPL’s Energy plant’s option valueMajor products and services: electricity generation, transmission, and distribution; energy trading
Florida
Pow
er &
Lig
ht G
roup
Best of Breed (FPLE): Desire to work with best of breed suppliers; relationship is important; open to outsourcing; want to increase efficiency
Reliability Seeker (FPL): Need secure supply; less price sensitive; interested in fresh ideas and education around the market
Account History: FPL Company• FPL has been a BP customer for 10+ years but only in the past 2 years have volumes been significant in excess of 100,000
MMBtu/day, largely from Destin Deepwater supply• Relationship strengthened significantly after the demise of Enron and the growth of our deepwater production• Closed several physically embedded options in 02/03, but changes in FPL risk management philosophy has precluded any further
deals of this sort• FPL has recently changed their No. 6 fuel oil specs enabling BP's Residual Trading group to sell 2 cargoes of No. 6 sourced from
Europe at competitive pricesFPL Energy• Developed and executed a 5-year exclusive Gas Service and Supply Agreement, under which BP would supply 24Bcf p/year to FPLE
Blythe, a new 520Mw power plant in southeastern California. BP s ecured a position in a key growth sector/geography and have accessed commodity margin, fixed price/financial flow and market knowledge.
• ProGas Limited, a Producer Aggregator Pool wholly owned by BP, has been providing 72,000 MMBtu/d of gas under long term arrangement (1991 to 2012) to two cogens in New England that are jointly owned with Tractabel. In the last 18 months, ProGas and FPL/Tractabel has successfully negotiated 3 different termination agreements resulting in payments to the ProGas Pool members of $US 24, 12 and 7 Million respectively. ProGas and FPL/Tractabel are currently negotiating the final termination agreement. BP has replaced ProGas as a short term supplier at Niagara.
Primary Customer Needs:• Cost effective and flexible solutions/pricing (physical/financial)• Reliable gas supply
FPL Group, Inc. is a public utility holding company with annual revenues of $9.6 billion in 2003 and presence in 25 U.S. states. Through its wholly owned subsidiary, Florida Power & Light Company (FPL) and its wholly owned indirect subsidiary FPL Energy, LLC, it is engaged in the generation, transmission, distribution and sale of electric energy. FPL, a rate-regulated public utility, accounts for 90% of the group’s revenues, distributes electricity to 4.1 million customers and has 19,000 MW of generating capacity from interests in nuclear and fossil-fueled power plants. FPL is one of the largest burners of natural gas in the Southeast with peak burns in excess of 1 bcf/d. In addition, FPL is also the largest burner of No. 6 Fuel Oil in the U.S. FPL Energy (FPLE), an unregulated LLC, is a leader in producing electricity from clean and renewable fuels. FPL Energy operates power plants across the country, leads the U.S. in generation of wind energy, and operates the two largest solar fields in the world.
$MM
• Cross Commodity – Gas/Oil/Power• Reliable oil supply
Business Challenges: • Secure stable and reliable supply• Strengthen financial discipline through hedging program, liquidity, and a conservative balance sheet• Maintain credit and improve cash flow• Improve operational excellence
Share Price
DRAFT
4
4
Customer Account Plan DRAFT
4
4
Customer Account Plan DRAFT
5
5
Customer Relationship Plan
Rel
atio
nsh
ip M
ap
NAGP Account Manager Origination Ben Go
NAGP Manager Origination & Marketing David Steely
GP&R Chief Executive Ralph Alexander
President, Florida Power & Light CompanyArmando Olivera
Director of Trading and OperationsTerry Morrison
President, Florida Power & Light Energy J ames L. Robo
Group President & CEOLew Hay
Manager, Natural Gas Marketing & Origination Bill Murphy
BP
Desired Outcomes of Executive Contact:
FPL Company
1. Emphasize to FPL Group how important they are to BP and develop relationships at all levels
2. Assure FPL of positions in natural gas, fuel oil, & LNG and of BP’s desire to build business with FPL around all three
3. Express BP’s interest and ability in supplying LNG
4. Determine level of support FPL will give towards LNG project
FPLE (Blythe)
5. Evaluate options to replicate gas services and management agreements across other projects/geographies
6. Deepen relationship, positioning BP as key services provi der and counterparty
7. Evaluate options around ex. west coast LNG supply, post 2007
Considerations:
• Heavy price competition from other producers such as Exxon, Cora l, Conoco Phillips et al eager to gain market share with creditworthy counterparty could reduce our GM.
• FPL has expressed interest for longer term natural gas deals on the order of 2-5yrs.
• FPL has expressed interest for BP to be more involved in fuel oi l supply. FPL would like to monetize their oil storage facilities.
• As FPL is the largest gas consumer in Florida, they are key to any LNG regasification terminal in Florida. All projects are aggressively courting FPL and FPL is c ertainly maximizing their position.
• FPLE Blythe: FPL experiencing significant difficulty in starting-up/optimizing Blythe facility, leading to internal sensitivity/scrutiny of plant efficiency/cost base, inc luding gas supply options.
• There is potential credit exposure if we want to increase our business with FPLE.
• Texas will have to increase exposure on other pipelines in order to increase market share with FPLE; there is a significant power plant in North Texas but our assets are not aligned to serve their needs.
Manager of Fuel Oil Supply Doug Max
NAGP VP Eastern US Orlando Alvarez
NAGP Regional Business Leader Tim Bullock
Since March 2000, Mr. Hay has been serving as president of FPL Energy. He joined FPL Group in August 1999 as chief financial officer. Before joining FPL Group, Mr. Hay served as CFO and a director of U.S. Foodservice, then a $6 billion broad-line food service distribution company. Prior to joining U.S. Foodservice, Mr. Hay was a partner and sr. vice president in Mercer Management Consulting, where he led the firm's strategy practice, assisting Fortune 100 companies in developing business strategies and execution plans. Upon graduating from engineering school, he joined U.S. Steel where he worked for three years and became maintenance supervisor at that company's most state-of-the-art manufacturing facility. Mr. Hay holds a Bachelor of Science degree in electrical engineering from Lehigh University and a master's degree in business administration from Carnegie Mellon University. He is a member of the board of directors of Utilities, Inc., a Chicago-based water utility holding company. He and his wife and three children live in Jupiter, FL.
Regional Business DirectorNate Hudson
FPL Energy
FPL Company
President, ProGas LimitedLee Lunde
Business ManagerRon Reagan
NAGP Marketing & Origination ManagerKevin Hazell
Director of Trading and OperationsTerry Morrison (Successor TBA)
VP, Asset Restructuring, Director of Origination, StructuredMark Palanchian
NAGP VP Western USJames Taylor
Director of Marketing, ProGas LimitedShonda Day
DRAFT
5
5
Customer Relationship Plan
Rel
atio
nsh
ip M
ap
NAGP Account Manager Origination Ben Go
NAGP Manager Origination & Marketing David Steely
GP&R Chief Executive Ralph Alexander
President, Florida Power & Light CompanyArmando Olivera
Director of Trading and OperationsTerry Morrison
President, Florida Power & Light Energy J ames L. Robo
Group President & CEOLew Hay
Manager, Natural Gas Marketing & Origination Bill Murphy
BP
Desired Outcomes of Executive Contact:
FPL Company
1. Emphasize to FPL Group how important they are to BP and develop relationships at all levels
2. Assure FPL of positions in natural gas, fuel oil, & LNG and of BP’s desire to build business with FPL around all three
3. Express BP’s interest and ability in supplying LNG
4. Determine level of support FPL will give towards LNG project
FPLE (Blythe)
5. Evaluate options to replicate gas services and management agreements across other projects/geographies
6. Deepen relationship, positioning BP as key services provi der and counterparty
7. Evaluate options around ex. west coast LNG supply, post 2007
Considerations:
• Heavy price competition from other producers such as Exxon, Cora l, Conoco Phillips et al eager to gain market share with creditworthy counterparty could reduce our GM.
• FPL has expressed interest for longer term natural gas deals on the order of 2-5yrs.
• FPL has expressed interest for BP to be more involved in fuel oi l supply. FPL would like to monetize their oil storage facilities.
• As FPL is the largest gas consumer in Florida, they are key to any LNG regasification terminal in Florida. All projects are aggressively courting FPL and FPL is c ertainly maximizing their position.
• FPLE Blythe: FPL experiencing significant difficulty in starting-up/optimizing Blythe facility, leading to internal sensitivity/scrutiny of plant efficiency/cost base, inc luding gas supply options.
• There is potential credit exposure if we want to increase our business with FPLE.
• Texas will have to increase exposure on other pipelines in order to increase market share with FPLE; there is a significant power plant in North Texas but our assets are not aligned to serve their needs.
Manager of Fuel Oil Supply Doug Max
NAGP VP Eastern US Orlando Alvarez
NAGP Regional Business Leader Tim Bullock
Since March 2000, Mr. Hay has been serving as president of FPL Energy. He joined FPL Group in August 1999 as chief financial officer. Before joining FPL Group, Mr. Hay served as CFO and a director of U.S. Foodservice, then a $6 billion broad-line food service distribution company. Prior to joining U.S. Foodservice, Mr. Hay was a partner and sr. vice president in Mercer Management Consulting, where he led the firm's strategy practice, assisting Fortune 100 companies in developing business strategies and execution plans. Upon graduating from engineering school, he joined U.S. Steel where he worked for three years and became maintenance supervisor at that company's most state-of-the-art manufacturing facility. Mr. Hay holds a Bachelor of Science degree in electrical engineering from Lehigh University and a master's degree in business administration from Carnegie Mellon University. He is a member of the board of directors of Utilities, Inc., a Chicago-based water utility holding company. He and his wife and three children live in Jupiter, FL.
Regional Business DirectorNate Hudson
FPL Energy
FPL Company
President, ProGas LimitedLee Lunde
Business ManagerRon Reagan
NAGP Marketing & Origination ManagerKevin Hazell
Director of Trading and OperationsTerry Morrison (Successor TBA)
VP, Asset Restructuring, Director of Origination, StructuredMark Palanchian
NAGP VP Western USJames Taylor
Director of Marketing, ProGas LimitedShonda Day
DRAFT
15
Customer Dashboard
15
Customer Dashboard
1 2
3 4
1
5
25
People - Whom Should We See?
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
Scope(what)
Scope(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
PeoplePeople(who)(who)
PeoplePeople(who)(who)
Timing(when)
Timing(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
Relationship(how)
Relationship(how)
26
OwnerOwnerOwnerOwner OwnerOwnerOwnerOwner
ImplementerImplementerImplementerImplementer OwnerOwnerOwnerOwner AnalystAnalystAnalystAnalyst AnalystAnalystAnalystAnalyst
ImplementerImplementerImplementerImplementer ImplementerImplementerImplementerImplementer AnalystAnalystAnalystAnalyst AnalystAnalystAnalystAnalyst
SpotTransaction
Contract
Partnership
Buyer VP Supply Treasury Regulatory CFOKey Decisions
Key People
What Is The Sphere Of Influence?
OwnerOwnerOwnerOwner
CEO
27
Understand The Type And Scale Of Each Decision
StrategicStrategic
LargeLargeSmallSmall
TacticalTactical
Scale of Decision
Scale of Decision
Type of Decision
Type of Decision
Transportation Transportation OptimizationOptimization
Spot PurchaseSpot Purchase
Annual Contract Annual Contract RenewalRenewal
Cap or CollarCap or Collar
Long term supply Long term supply contractcontract
Sole Supply Sole Supply AgreementAgreement
Risk Management Risk Management Strategy Strategy
28
Do We Have a Contact Plan?
BuyerBuyer VP SupplyVP Supply Risk MgmtRisk Mgmt CFOCFO CEOCEO
M&OM&O
M&O MgrM&O Mgr
LegalLegal
TradingTrading
Senior MgrSenior Mgr
Customer
BP
29
What is the Customer Expectation?
• The Business Reasons...The Business Reasons...
− I’m the decision makerI’m the decision maker
− I want to change directionI want to change direction
• The Personal Reasons..The Personal Reasons..
− Desire to engage key suppliers Desire to engage key suppliers
− Ego / Prestige - I see the CEOs of my other vendorsEgo / Prestige - I see the CEOs of my other vendors
• Both...Both...
− TrustTrust
− Importance as a CustomerImportance as a Customer
30
Do Expectations Track with the Business Opportunity? Or is it a Balancing Act
BusinessBusinessOpportunityOpportunity
CustomerCustomerExpectationExpectation
BusinessBusinessOpportunityOpportunity
CustomerCustomerExpectationExpectation
31
When do you bring in your boss?
A few questions to test...
• Is this someone the account team usually sees?
• Could someone else have handled this meeting?
• Is this person at the right level vis-a-vis the decision?
• Are both at a commensurate level?
• Are our meetings getting results?
32
Who Else Is in the Meeting?
BP CustomerCustomer
Who Are We Who Are We Bringing?Bringing?
Who Are They Who Are They Bringing?Bringing?
The tradeoff – The tradeoff – continuity & cohesion vsvs. . intimacy & depth
PerspectivePerspective
SpecialistSpecialist Presentation Presentation The AgendaThe AgendaEveryone has a Everyone has a
rolerole
33
Timing - How Often Should We See Them?
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
Scope(what)
Scope(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
People(who)
People(who)
TimingTiming(when)(when)
TimingTiming(when)(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
Relationship(how)
Relationship(how)
34
Where Are We In The Deal Cycle?
BP ACTIVITIESBP ACTIVITIES
CUSTOMER ACTIVITIESCUSTOMER ACTIVITIES
Contract ‘05Contract ‘05Contract 04Contract 04
Information Gathering
Information Gathering
Customer Exploration
Customer Exploration
Deal Creation
Deal Creation
Deal Validation
Deal Validation
Deal Negotiation
Deal Negotiation
Deal Closure
Deal Closure
M&OM&O
ManagerManager
ManagerManager
TradingTrading
LegalLegal
CreditCredit
RFP
I. Review I. Review
Regulatory Regulatory
Cut down
Analysis Analysis
Decision
6 months / 1 year / 3 Years / 10 years6 months / 1 year / 3 Years / 10 years
Prospect Engaged Closing DealIdea
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What Are We Trying to Achieve?
Transaction Contract Relationship (Partnership)
Exchanging Information
Developing Opportunities
Explaining / Supporting
Reinforcing
Closing
Reviewing
Trouble-shooting
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What Are the Signs of Too Little Contact?
• When the relationship has stalled or is deteriorating and we can’t explain why
• When the customer is changing / growing and we don’t understand the new strategy or the impact on our relationship
• When you don’t know anyone above the buyer level
• When they tell us we are neglecting them
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Relationship – How do we work at C-Level?
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
Scope(what)
Scope(what)
Running a successful
C-Levelmeeting
Running a successful
C-Levelmeeting
People(who)
People(who)
Timing(when)
Timing(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
RelationshipRelationship(how)(how)
RelationshipRelationship(how)(how)
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What Are You?
Business
Partner/Advisor
Colleague &
Confident
Why Are You Here Again! The Trust Factor
PersonalPersonal
BusinessBusiness
HighHigh
HighHighLowLow
LowLow
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What is the Basis for the Relationship?
Our Deal Compare Common Industry Concerns
General Business Trends / Practices
Political, Economic, Socials Trends
“Life at the Top”
Family, Friends, Common Hobbies / Interests
Our Deal
Comparing Industry
Notes
Common Industry Concerns
General Business Trends / Practices
Political, Economic, Socials Trends
“Life at the Top”
Family, Friends, Common Hobbies / Interests
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Running a successful C-Level meeting
The Role of C-Level Selling(why)
The Role of C-Level Selling(why)
Scope(what)
Scope(what)
Running a Running a successful successful
C-LevelC-Levelmeetingmeeting
Running a Running a successful successful
C-LevelC-Levelmeetingmeeting
People(who)
People(who)
Timing(when)
Timing(when)
How to be successful at
C-Level Selling
How to be successful at
C-Level Selling
Relationship(how)
Relationship(how)
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How Do I Get Things Started
• Agreed objective
• Your agenda
• Know their Agenda
• Ask questions and listen!
• Focus on their needs
• What are their investor measures, KPI’s, overall strategies and major initiatives?
• Common personal interests? Are they comfortable? Are you?
• Save the BP deck – they don’t want power points any more than you do!
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The basics apply in all meeting
Per s o
na l
Per s o
na l
Understand The Customer’s NeedsUnderstand The Customer’s Needs
Price Price StabilityStability
Manage RiskManage Risk
Low Low PricePrice
Asset Asset OptimizationOptimization
Labor Saving Labor Saving MechanismsMechanisms
Contact Contact FrequencyFrequency
Number of Number of SuppliersSuppliers
Market Market InformationInformation
Supply Supply SecuritySecurity
Supply Supply FlexibilityFlexibility
VolumeVolume CostCost
ProfitProfit
$$$$
Regulatory Regulatory ComplianceCompliance
DistributionDistribution
Customer Customer PenetrationPenetration
Marketing Marketing ProgramsPrograms
New New CustomersCustomers
Primary Business NeedsPrimary Business Needs
Supporting Business NeedsSupporting Business Needs
Business DriversBusiness Drivers
Business
Business
Personal Personal NeedsNeeds
Help me Achieve Help me Achieve My ObjectivesMy Objectives
No SurprisesNo Surprises Make me look Make me look goodgood
Ego MassageEgo Massage InformationInformation
Hierarchy Of Hierarchy Of Strategic Driving Strategic Driving Needs Needs –– Summary Summary
(Example)(Example)
Understand the Customer’s Needs Use a Structured Framework for the
Meeting
Ask Questions – Funneling Your Questions
Know Their (and Your) Interpersonal Style
Summarize The SituationSummarize The Situation
State The Big IdeaState The Big Idea
Explain How It Works
Explain How It Works
Reinforce Key Benefits
Reinforce Key Benefits
CloseClose
INFORMALINFORMAL
FORMALFORMAL
OVERTLYOVERTLYDOMINANTDOMINANT
COVERTLYCOVERTLYDOMINANTDOMINANT
SSEELLLL
TTEELLLL
CONCEPTUALCONCEPTUAL SOCIALSOCIAL
ANALYTICALANALYTICALDIRECTDIRECT
OPEN
OPEN - Probing
OPEN - Probing
CLOSED / LEADING
Listen
How is your business this month? How is your business this month?
Why do you think that is?Why do you think that is?
What do you mean by that?What do you mean by that?
So what you are saying is…..So what you are saying is…..
Listen
--
SpecificSpecific
GeneralGeneral
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5 Questions You Want Answered in a C-Level Meeting
• What does a business partnership mean to you (the customer)?
• What do we do well for you – and where can we be a better partner?
• Looking at your total business - what are your key strategies for the next 3 – 5 years?
• What new market / regulatory / economic / social trends are starting to impact your business?
• As a business, what are the biggest road blocks you face today?
Depending on the customer, you may need to “share” your thoughts to get them to open up
Depending on the customer, you may need to “share” your thoughts to get them to open up
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What You Do Differently With the C-Level
• Exercise humility – they are the customer
• Focus on the long term relationship / partnership
• Consider their style (formal or informal – suit or Hawaiian shirt)
• Listen, Repeat Back, Listen Again
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Turning it Around
• It’s All Too Quiet – don’t talk - ask questions
• Hostile Fire– don’t dismiss - probe to understand the problem, acknowledge understanding, try to solve (or diffuse)
• I Don’t Want to Go There! – You don’t have to solve it – park the issue and if you can agree a follow up (I need to discuss with my team/legal/credit/regulatory is a legitimate reason)
• Stuck in the Muck - Call a time out – “if our guys can work this out, where can we....”
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Preparing for the meeting
• SMART objectives
• The brief
• What they expect
• What we want
• What they want
• Do I have what they want (and how will I handle)
− What is my strategy for sharing information? Open and generous, Tit for tat (play nice but punish), Keep the cards close?
• The attendees – and their roles
• Practice! A dry run - Why do we practice for internal meetings and not for customers?
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Follow up from the meeting
• Summarize your agreements in the meeting
• Agree next steps, timing and responsibilities
• Will this require a follow up top-to-top meeting?
• De-brief with the account team – document actions
• Send a follow up note confirming agreements and actions
• Mobilize forces beyond the account team – keep the momentum going
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Pitfalls
• No agenda
• Nothing to say
• Divergent expectations
• This isn’t what I came here to talk about!
• Did I agree to that?
• “But I can’t make that decision”
• I didn’t deliver the bad news
• (60 minutes of) why our prices are too high!
• Why isn’t your boss here?