2018 Sales Planning & Budgeting: To Justify Value Creation, You Must Measure Value Creation
We recently surveyed nearly 800 sales managers and reps to better understand what they need to succeed in 2018. One of the top needs for winning more deals is justifying value to customers.
More than ever, buyers want to know the expected return on their investment in your solution. If sellers don’t have this information, then they will probably lose the opportunity to the competition or no decision, or they will make something up that will bite them in the behind come renewal time.
Justifying the value you deliver to your customers requires developing the discipline to measure the value you create for customers. It’s easy to avoid identifying key performance indicators and collecting benchmarks because it creates extra work for you and your customer. However, most customers will be receptive to this because it is also important for them to know the ROI of your solution. The extra effort will help you win more business, and better retain and grow accounts.
Justifying value is best done from pre-sale to implementation and on-going application. These latter activities often fall into the realm of product managers and customer success managers. This will require a collaborative effort and a defined methodology for how you work with customers. Planning for 2018 is the perfect opportunity to rally the organization behind this effort and secure funding for the resources necessary for successful execution.