In 2016 and 2017, I joined a large global manufacturing company as a Value Coach to assist them in their value transformation in Europe. The project lasted 18 months and was a very transformational experience for the teams and for me. This is when I realized that all I knew about customer value management was not enough. I had to go deeper in concepts of change management, transformational leadership, and mindset change. I started studying Carol Dweck’s work on mindset and bought her bestselling book called Mindset: The New Psychology of Success. This is not a business book, but its...
Stay ahead with customer value thinking.
If you’re working as a sales professional, your primary task is to bring in sales. There have been many methodologies on how to sell products and services over the years. Product selling — straight-up convincing the customer to buy a product — has been the norm for ages. When that wasn’t enough, sales eventually moved from the product to the solution offered through the product.
No industry is immune to The Great Resignation, especially in the go-to-market realm. Salespeople may be particularly susceptible to the phenomenon for a variety of reasons including but not limited to working 100% remotely, timing of the commission payments, pay levels due to increased uncertainty, and a lone-wolf mentality that can quickly lead to burnout and a lack of attachment to their teams.
Economic pressures over the past few years have resulted in increased scrutiny for expenditures under new and existing technology contracts. This heightened emphasis on financial impact products and services deliver requires sales teams and customer success staff to elevate their approach. Conversations with prospects and existing customers must focus on tangible value. Instead of just being the purview of sales teams, value must be front and center in every customer interaction.
While the world is bouncing back, the economic impacts of the pandemic are still being felt across industries and borders. Organizations are putting expenditure under the microscope, scrutinizing every purchase decision. Sales and customer success teams must be ready to make a strong case for every opportunity, backed by substantiated and specific customer value delivered. And that calls for a scalable value selling solution.
Today’s buyers are savvier than ever. To address their evolving sophistication and expectations, successful CROs are leaning into technology that aligns sales and buyer objectives to build long-term relationships. Customer Value Management (CVM)is the key to driving greater customer lifetime value. With an end-to-end CVM platform, your team has the power to unify value measurements, elevate sales conversations to what matters to decision-makers, and drive customer success by presenting value at every stage of the engagement.