Sellers often focus on proving the value of their offerings in order to close the deal, but they fail to identify how they’re going to measure success afterwards. The value cycle helps to remind sellers that value needs to be cultivated and leveraged throughout the sales cycle. Building a value justification is the main activity during the close step, but this is also where success criteria are identified and agreed upon. Success criteria are the mutually agreed upon metrics to be measured over time to determine the effectiveness and value of the capabilities that a seller intends to provide a buyer.
The metrics in the value justification and the success criteria should match. If they don’t, how are sellers going to prove that they’ve helped the buyer achieve the goals in the value justification?
Also, the act of making sure success criteria are established helps sellers demonstrate their commitment to the buyer’s success and reduces overall buyer risk. After implementation, measuring success criteria helps sellers and their clients judge the actual value achieved.
Finally, when successful, this demonstrated value provides metric driven success stories that sellers can use to develop new leads with existing clients and new prospects making the use of success criteria the action that closes the value cycle loop.