Value realization has become a buzzword lately with the current focus on tangible results and the rapid emergence of the customer success function. At the same time, ‘value realization’ is a novel topic with fundamental differences compared to ‘value creation’.
It is no longer a question of “if” we will face a recession. It is a matter of how bad it will be. Will it hit the technology sector? If so, how hard? How will companies rethink their business model, and their go-to-market strategies? And most importantly, how will they support their customers while they also go through turbulence of their own?
Value-based selling programs must be prepared carefully with the right objectives in mind and the right content. In this department, content is key. I often get the question of who is responsible for putting together the overall value playbook supporting the value-based selling curriculum. My response is simple - Marketing is in charge and must pull information from various departments such as market intelligence, customer success, strategy, pricing, and more. Marketing leaders often forget that they are the R&D of sales. They must work hard in preparation for these training events. And first...
Currently, companies are investing heavily in training their salesforce to become value sellers. There are numerous reputable companies offering commercial excellence training combined with a value management approach. No methodology is perfect and there is always room for improvement. However, there are certain things a company must do before embarking on a strategic value-based selling program for their go-to-market teams. I list six considerations that sales leadership and training professionals need to keep in mind when designing value-based selling programs.
By now, your sellers are running around trying to close. The reality is that customers have put a stop to deal-making until they understand how their companies are going to be positioned in this recession. This is to be expected when stock markets are crashing, and investments are drying up. However, it is essential to anticipate the pressure your customers and prospects might put on you when it comes to pricing. Procurement and finance teams might be unwilling to consider investing in your SaaS solution or at least might consider a downgraded version of your solution for now if they see the...
There is no doubt that the time has come for companies to take a serious look at the customer value management (CVM) process, methodology, and tools. It has never been a better time to get started. And the reason is simple: do it or get churned out!
Your customers are doing the same analysis that you are doing. They want to improve net retention and avoid churn. As a result, any vendor who visits them or speaks to them about increased net retention rate or churn reduction will be placed on top of the list of SaaS solutions to keep investing in.
As you reinforce your customer value proposition...
