Wednesday, January 13, 2016
The Importance of Getting Your ROI Selling Right
If you think your clients are more ROI focused, and that your ability to deliver financial justification can assure greater success, new research proves you right.
The ability to effectively communicate and quantify your value is not new, and has been part of professional selling for a long time. However, according to new research from MHI Global, “as buying cycles lengthen and decision dynamics become more complex, identifying and calculating the costs and benefits of any product or capability have grown in importance”.
The reason for the increased importance on ROI? Customers have changed. They’re more empowered, skeptical and frugal. There is more internal pressure on buyers to validate and defend business decisions and deliver value for their organization.
Often, the stakeholders’ jobs are on the line if they invest too much and can’t prove the value delivered. As a result, customer’s expectations for value conversations, and moreover, for quantifiable value have also increased proportionally.
And this has presented organizations with sales and growth challenges. Customers demand to know your unique value pre-sale. And after the deal is done? They expect you to prove that the realized value is exactly what you said you would deliver.
Beyond evolving your sales presentations from product to value, and simple calculations of cost, the advice from MHI Global? Sales professionals must be able to identify the tangible and intangible benefits of solution capabilities based on what the decision makers deem valuable.
Making this a significant challenge: value can vary significantly by industry, and by the roles / responsibilities of each buyer. “Determining what the individual buying team members value, as well as their political influence within the buying team and the broader organization, will dictate what matters”, says MHI Global.
And perhaps this is one reason organizations struggle to get ROI right. Just as the research shows the increased demand and importance of ROI, so too it shows that most organizations struggle delivering the right ROI content and tools to their sales teams and channel partners.
Out of 11 different types of customer-facing content and tools for Sales use, like presentations, white papers, case studies and the like, getting ROI / Justification right remains a challenge. One in four admit that their current ROI selling programs need a major redesign, and almost 50% say improvement is needed.
With so much on the line, the time is right for a different approach to ROI / financial justification, giving you and your team a real competitive, differentiating advantage.
Click here to learn more about the challenge, and our new approach to ROI Selling.
Decoding the Decision Dynamic, MHI Global
Sales Enablement Optimization Study 2015 Key Trends Analysis, CSO Insights, a division of MHI Global