Responsible for keeping the company’s spending down, Jane’s all about balancing price and value. Her head’s always in the numbers and she has a lot of pressure from above to keep the business’ budgets in order.
Role in the buying process
Jane has the final say on all large, recurring purchases. She does not do the initial research, but she must approve the expense before a transaction’s made.
Job: Chief Finance Officer (CFO)
Reports to: CEO
No. of employees: 6
Age: 45-55-years-old
Gender: female
Location: Asia and Australasia
Industry: E-learning
Size: 500-1,000 employees
Revenue: $35-50M
Jane relates to numbers and loves a challenge. She takes pride in saving the business money and is not one to miss a detail. Although generally optimistic, she can be somewhat introverted when she’s not in her comfort zone.
Getting every cent out of every dollar Ensuring departments stay within their budgets and spend wisely Reporting on the business’ financial status to the board Approving or rejecting expense claims Keep the company’s spending as low as possible while ensuring everyone has what they need to deliver results Make more informed decisions on the potential return of expenses Spend less time researching and fact-checking expense forms Everybody always wants more budget than they’ve got A lot of the time, it can be hard to quantify the monetary return of purchases The business is always pressing her to further reduce departmental spending Gartner or Forrester recommendations Because she’s not convinced of the ROI. If a claim doesn’t meet the company’s expense requirements, nine times out of 10, it’ll get turned down.
Value for money every time. If we can prove our product will save or make the company more than it costs, we have our foot in the door.
Communication preferences
Jane isn’t involved in the research phase. Individuals or departments approach her once they have made a decision and she then ensures feasibility.
Often, colleagues don’t come to her with all the detail needed, she prefers a simple one-pager packed with all the pricing, data and recommendations she needs in one place. We should provide users with this information to forward on to Jane.
Willing to pay: $69/month
Customer acquisition cost: $45
Lifetime value: $556