As the Chief Financial Officer (CFO) of your organization, you may have observed (what are to you based on your experience in business) less than satisfactory revenue results and understand the need for decisive action as an innovative, strategic business leader. It is crucial to approach the CEO (and other C-Suite Business Leaders) discreetly in a manner that fosters a healthy, constructive, objective, results-focused discussion about business performance improvement, focusing on revenue growth and the potential of Account-Based Marketing (ABM) to accelerate revenue growth. We will outline the key points for your conversation with the CEO (and other C-Suite Business Leaders), emphasizing fact-based reasoning and a shared objective of driving the best possible business outcomes for the company.
Depending on the environment at your company, you may want to broach the subject informally 1-1 with the CEO and some of the other C-suite business leaders to socialize the goal of improving revenue. Even easier if your company has a direct and natural willingness to openly discuss business performance and a broad commitment by all leaders to improve. However, if that’s not the case then naturally some of the business leaders (e.g. Chief Revenue Officer, Chief Marketing Office and/or Chief Sales Officer) may perceive suggestions for revenue improvement as a threat to their performance record or a criticism of their results. We do not want to alienate other C-suite team members but approach them in a constructive, work-together for continual improvement manner and offer to help with the benefit of your experience and unique expertise.
The ultimate goal is to foster one unified, collaborative, high-performing ABM revenue team across all interested functions and stakeholders. The observation if any individual in C-suite leadership passively aggressively obstructs growth or resists suggestions for improvement is that they may not truly be ready for a leadership role or worse if the CEO indulges and tolerates their behavior that this might not be the right organization for you to grow in and offer your leadership expertise. You’ve got too much to offer to sit by passively when you see opportunities for improvement if you are in an organization that will not let you be effectively heard and considered.
- Establish a Common Goal: Initiate the conversation by expressing your shared objective with the CEO (and other C-Suite Business Leaders) – improving the company’s revenue growth. Emphasize that your intention is not to undermine the authority of any C-Suite Business Leader but rather to collaborate on objectively finding the best strategies for your company to address the current challenges. Presenting a united front will create a sense of partnership and open the door to a constructive dialogue.
- Highlight the Current Revenue Situation: Present the factual evidence of the less-than-satisfactory revenue results. Utilize financial reports, analysis of competitors’ performance and market growth, sales data (including lost sales and why), and relevant market trends to illustrate the significance of the issue. Be clear about the potential consequences of not taking action, such as missed growth opportunities or the risk of falling behind competitors. This is the opportunity to use your financial background, reliance on data and ability to distill business insight from financial performance (including sales).
- Introduce ABM as a Possible Solution: Introduce Account-Based Marketing (ABM) as one strategic approach that has quantitatively proven effective in driving revenue growth for many B2B businesses. Provide examples or case studies that demonstrate how ABM has delivered positive results, such as increased deal sizes, higher conversion rates, and improved customer retention. (There is a lot of industry data reported and you can find links to empirical evidence in the Ideovee LinkedIn profile page to support your recommendations; link below.) Explain that ABM focuses on targeting high-value accounts and delivering personalized experiences, better aligning cross-functional marketing and sales efforts to drive revenue growth.
- Address Concerns and Misconceptions: Acknowledge any concerns or misconceptions the C-Suite Business Leaders may have about ABM. Highlight that ABM does not seek to replace existing sales and marketing efforts but rather enhances them by better aligning the revenue team’s focus (across all functions interested in revenue generation) and resources on high-potential accounts. Emphasize that ABM requires a collaborative effort and tight working integration among sales, marketing, and all other revenue-focused functions to effectively execute the revenue strategy and process.
- Discuss the Potential Benefits: Present the potential benefits of implementing ABM in your organization. These may include improved lead generation, enhanced customer engagement, increased customer lifetime value, and a more efficient sales process. Emphasize that ABM is not just a marketing initiative but a holistic approach for all company stakeholders to revenue generation that aligns with the company’s overall objectives.
- Outline the Implementation Plan: Provide a high-level overview of how ABM could be implemented within your organization; including some new ABM 7 – ROI and Measurement KPIs. Highlight the need for cross-functional collaboration, data-driven insights, and the importance of shared revenue goals and metrics. Discuss with the CEO the potential need to restructure roles or appoint a Chief Revenue Officer (CRO) to oversee the unified revenue team.
Conclusion: For the CFO, initiating a fact-based, objective conversation with the CEO (and all the other interested C-Suite Business Leaders) about revenue growth and the potential of ABM is an important step towards driving positive, accelerated change in your B2B organization. And with a defined process, it’s a relatively easy exercise in organizational in change management, business innovation and accelerated revenue growth. By focusing on shared business objectives and presenting ABM as a strategic solution for the company, you can foster a healthy and collaborative discussion with the CEO (and all the other C-Suite Business Leaders interested in revenue). Remember to approach the conversation with humility, and openness to feedback, emphasizing the desire to work together with all functions towards the best possible objective business outcomes.
By leveraging the power of ABM and aligning your revenue-focused functions with enhanced active and proactive finance support, your B2B company can better unlock new opportunities, drive revenue growth, and position itself as a leader in the market.
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