Tips for Persuading Corporate Committees

Trying to convince a group of executive decision makers is not the same as getting a single individual to sign onto the dotted line. The distinction is critically important at a time when decisions such as whether to buy a product or service, hire or fire a consultant, or modify strategy or brand messaging are in the hands of committees. According to Gartner, B2B committees are expanding beyond the typical six to ten members while spending less time with sales representatives or those who want an audience with the committee. Committee outcomes, whether made by a board of directors, purchasing team, or search group, are influenced by regulations and proprietary governing rules, individuals’ agendas, members’ knowledge and experience, the chairperson’s leadership style, and/or cultural and language differences.

The growing dominance of committees complicates your job if you are seeking to sway their decisions. For you, the persuader, it’s essential to identify the ultimate leader(s) of the group as well as what’s at stake should the committee choose poorly. It’s not enough to assess the upside of any decision a committee may make. You must understand the magnitude of the downside and whether the committee is fully evaluating the risk-return equation of the decision before them.

In a past career role as an investment fiduciary expert witness, I had to read thousands of pages of confidential documents about committee decisions made by asset managers, bankers, C-suite executives, financial advisors, institutional investors, and retirement plan fiduciaries. My job was to render a financial and governance opinion about the appropriateness of their decisions and the process they used to make them. What did I observe? There are two buckets of committees – the ones that understand what they are doing and those that don’t. Failure occurred for numerous reasons. Members did not fully grasp the peril of inattention to detail. Members deferred to the committee chair without doing their own due diligence. Members misunderstood the seriousness of their obligations and did not attend or participate in meetings.  As a corporate trainer, I tried to emphasize the responsibilities of being part of a committee, such as an ERISA 401(k) plan investment committee, by asking, “Do you feel confident explaining your decision-making process during a deposition?”

As the persuader, you need to understand the committee’s collective and individual pain, to the extent possible. Then convey you get it. You understand what the committee is seeking to accomplish. Don’t wait until the formal pitch date.

Communicate with individual committee members. Responsive personal communication enables you to gather valuable information. You may be asked to sign a Non-Disclosure Agreement. This is standard practice if you are asked to prepare a Request for Proposal. The personal approach enables you to create buyer personas that go a long way to unlocking the group’s dynamics. Constructing a demographic and psychographic profile can reveal how each decision maker typically consumes information and whether you need to emphasize basic or advanced concepts in your pitch. You need to know what’s most important to each committee member.

When I worked with a Fortune 50 company, to find a treasury compliance software product for it to license, I reached out to two key constituencies, each with different yet crucial needs. The traders prioritized a product that could be integrated with the existing technology they relied on. The auditors required a system that would generate detailed and user-friendly reports.

Empower yourself and your potential client, the deciding committee, by offering an interactive educational session. Whether virtual or in person, a pre-decision training event facilitates a back-and-forth discussion. This gives you further insights into the problem to be solved and how the committee is proceeding to select a solution. Shy or less informed committee members have an opportunity to ask questions without fear. Actively listen to the questions being asked and the ensuing debate among the attendees. Build trust by demonstrating your keen interest in being a problem solver, not just making another sale or convincing the committee to give you money, or anything else that benefits you more than the committee’s employer. Provide case studies and testimonials about how you’ve assisted other clients. Deliver pertinent thought leadership such as a just-published study about an industry trend, product innovation, or service enhancement.

Persuading a committee, especially a large and diverse one (in terms of backgrounds) is a challenge. If you want to sell to a committee, you need to understand the committee’s role and its corporate obligations. If you want to be hired by a committee, you need to understand why they are recruiting. If you want to convince a committee to invest in your company, you need to understand how its members evaluate proposals for capital-raising.

The days of schmoozing over lunch with one or two friendly people and expecting a deal to materialize are long gone. That’s okay. You have tools at your disposal to persuade committee decision makers.