A recent global study by the Enterprise Value Collective, Genius Drive, and Cuvama has highlighted the significant benefits and adoption challenges of value selling in B2B environments.
This collaborative research surveyed over one hundred B2B technology organisations, uncovering key strategies for optimising sales outcomes through value selling techniques.
The study demonstrates that sales representatives using value selling techniques consistently outperform those employing traditional, product-focused methods. Over 80% of the surveyed organisations reported measurable improvements in sales performance due to value selling. Specifically, these companies and sales reps experienced an average 48% increase in win rates, a 35% rise in deal sizes, and a 25% decrease in sales cycle durations.
Tom Pisello, the ROI Guy and Founder of the Enterprise Value Collective, as well as a Partner at Genius Drive, emphasised the importance of value selling, “In an era where 70% of sellers are missing their quotas, this research confirms that value selling not only counters this trend but significantly enhances sales outcomes, enabling sellers to secure more, larger deals at a quicker pace.”
Low Adoption Rates Despite Proven Benefits
Despite the clear advantages, the adoption of value selling remains low, with only 19% of sales representatives regularly implementing this strategy. This gap represents a substantial opportunity for businesses to improve their sales performance through the widespread adoption of value selling.
Alex Smith, Co-founder of Cuvama, stated, “There is no single solution to increase adoption rates among sales reps. Success requires a coordinated effort, integrating value automation to enhance sales engagements, providing robust value enablement for effective content delivery and training, and making strategic investments in business value engineering for optimal support.”
Strategies for Successful Value Selling Adoption
The research indicates that the most successful adopters of value selling invest in a coordinated approach across three critical areas: Support, Enablement, and Automation. Leveraging this approach, with each 10% increase in seller adoption of value selling, yields a significant 10% boost in revenue. Engaging all customers with a value-based approach can result in a 2x increase in revenue overall.
Ken Powell, CRO for fintech firm K1x, underscored the importance of a well-orchestrated strategy: “In order to get value into more customer engagements, it takes a well-orchestrated approach of specialist support, automation, and enablement, which this research highlights so well. Get it right, and you can help customers build extreme confidence in the purchase and significantly exceed your growth goals, which we have done by leveraging this research’s recommended approach.”
Enhancing Sales Performance with Value Selling
This study underscores the critical role of value selling in enhancing sales performance and achieving business growth. The findings suggest that businesses adopting a structured approach to value selling can significantly improve their sales outcomes and overall revenue. The insights provided by the Enterprise Value Collective, Genius Drive, and Cuvama offer a roadmap for organisations aiming to leverage value selling for sustainable growth.
In conclusion, the research highlights both the impact and the challenges of adopting value selling in the B2B sector. By addressing these challenges and investing in comprehensive support, enablement, and automation strategies, businesses can unlock the full potential of value selling and achieve remarkable sales performance improvements.
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