The economic ups and downs of the past several years have radically changed the way businesses spend their money. With cost-efficiency top of mind, many buying committees have now expanded to include the ultimate decision-maker, the chief financial officer (CFO).

In other words, knowing how to sell to the CFO is essential if you want to hit your sales quota. But, you’re probably wondering: Do you treat the CFO like any other decision-maker? Or do you throw out your tried-and-true selling tactics and adopt an entirely new approach to win over a CFO?

Today we’re answering those questions and more. Read on to learn the do’s and don’ts of selling to the modern-day CFO.

What you’ll learn:

• Research the CFO as extensively as possible
• Lead with cost benefits
• Speak to the challenges that CFOs care about the most
• Paint a clear picture of the implementation process
• Secure a strong champion
• Capitalize on positive word-of-mouth

1. Research the CFO as extensively as possible

This first tip might sound obvious, but it’s important to note that selling to a CFO requires more targeted and in-depth research than you may be accustomed to in your traditional sales preparation.

Your typical planning might go something like this: You conduct basic research about the prospect’s company, learn as much as you can about their business strategy and finances, and develop an understanding of their buying committee. If you’ll be interacting with a CFO, you should take your research a step further and aim to learn as much about them as possible.

Ideally, you’ll be able to quickly determine the CFO’s role in the decision-making process — but you should also learn about their background, current priorities, and even their style of communicating. Anything from their recent decision-making history to a social media post about their key interests can inform your action plan and help you win the CFO’s trust.