Every single thing that happens in sales is about learning — on both parties’ parts — and this includes presenting and discussing value metrics with prospects and with customers who are up for renewal. What works best? Adopting an attitude of rampant optimism or one of friendly skepticism? Should the value metrics you present be the same, or should they vary when you’re talking with inbound prospects versus outbound prospects? Is it most effective to emphasize only one appealing value, or is it better to trot out several beneficial metrics?
In this third Market Dominance Guys’ conversation between Chris, Corey, and Mike Genstil, co-founder and CEO of VisualizeROI, this trio of experts discusses how to price your company’s offering, how to handle discount requests, and what to do about a prospect’s fixed-budget limitations. Most importantly, they delve into the reality of what happens when you have successfully convinced a prospect of the value of your offering — to the extent that he is now a champion of your product or service — but when he carries your banner back to his company, he is faced with a bunch of skeptics who haven’t had the benefit of hearing your pitch. Since 98.3% of all sales decisions are fought internally, you’ll want to hear the strategy Chris, Corey, and Mike suggest for arming your prospect with the value metrics that will help him win that battle.
About Our Guest
Mike Genstil is co-founder and CEO of VisualizeROI, an innovative company that enables B2B sales and marketing professionals to easily create and share visually compelling value propositions with prospects and clients.
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As a follow-up to the recent Market Dominance Guys’ podcast, “Vanity, Vanity, Thy Name Is Value Metrics,” Chris and Corey continue here with part two of their conversation with Mike Genstil, co-founder and CEO of VisualizeROI. Mike and Chris share their insights into value metrics and how to construct and present statements about value propositions and returns on investment. These market dominance experts explain that it’s all dependent upon the job title of the customer rep being addressed, as well as where in the sales cycle you are with that company. Is risk mitigation the most appropriate metric? Is it perhaps better to talk about productivity gains? Or would a statement regarding cost savings be more enticing as a promised ROI? And, as Corey asks, whose job is it to craft the appropriate statement for the value prop or ROI?
Mike cautions listeners about the importance of being careful in the representation of value when talking to a prospect or customer, because it’s necessary that the stated ROI be credible.
He then gives examples of formulas for determining what you should charge a customer by relating it to the amount that company will gain by using your product or service. As with all Market Dominance Guys’ podcasts, you’ll find this sales-related topic both
enlightening and helpful in your quest to dominate YOUR market!
About Our Guest
Mike Genstil is co-founder and CEO of VisualizeROI, an innovative company that enables B2B sales and marketing professionals to easily create and share visually compelling value propositions with prospects and clients.
In the modern SaaS economy, adoption metrics abound. Sure – they measure something that VC investors care about, and sometimes something that product recommenders and even decision-makers want to track. But does adoption speak to business impact?
One thing for sure: when it comes to business impact, adoption metrics are pure vanity. A business doesn’t measure return on investment by asking how much time its employees are spending as “users.” Horror stories abound of products that suck up time due to their own internal inefficiencies, sending employees on wild goose chases to figure out what to put in that so-called “required field,” or how to coax a shiny new SaaS product into spitting out a coherent report on what it did for you — or, more likely, what you did for it. At its worst, a focus on adoption invites corruption, as the SaaS vendor needs to make a claim that their goodness is spreading throughout your organization and the buying committee needs to justify, and feel good about, their purchase.
Join Chris and Corey as they talk with Mike Genstil, co-founder and CEO of VisualizeROI, and analyze the practices and dilemmas of determining adoption, the difference between theoretical value and harvestable value, what a QPR has to do with renewal, and the role of a VP of Value.
About Our Guest
Mike Genstil is co-founder and CEO of VisualizeROI, an innovative company that enables B2B sales and marketing professionals to easily create and share visually compelling value propositions with prospects and clients.
