Helping a Leading CRM Software Company Quantify and Communicate Their Value Proposition
industry & client situation
A major CRM company’s sales force was struggling to quantify the value of their solution in an increasingly competitive market. Sales cycles were lengthening, especially for the larger transactions, and the sales teams did not have sufficiently robust ROI tools to help prospective clients quantify the value of their solutions. The competitive intensity of each sales situation was exacerbated by declining client budgets which raised the bar for all software investment decisions.
A small team of Bridge consultants and client staff mapped the company’s sales processes and identified opportunities to create tools that would assist the sales force at various points in the selling cycle. In general, we targeted ways to address the concerns of prospects and customers as reported by salespeople and management.
The team quickly “flash-prototyped” several tools for field-tests in live sales situations. This involved (as it usually does) constructing analytical models based on client input and Bridge’s experience across industry categories. A key aspect of our approach was to pilot these tools working alongside global sales teams in live selling situations.
Once tools had been created, tested and approved for roll-out, we facilitated the global launch program. Initially, we trained over 2,000 sales people on the use of the tools, created supporting user documentation and sales and marketing collateral. The focus of the effort then shifted to acting as a global support resource as the sales staff started to use the tools in their own selling situations.
A diagnostic tool was first created to enable the sales person to quickly evaluate the prospect’s sales, marketing, and customer service competencies, such as knowledge of customers and service-call response time. This analysis allowed the sales person to appropriately frame the sales presentation and show the prospect how the company’s CRM systems boost performance.
This diagnostic fueled a second tool which was developed to measure ROI on any combination of the company’s products. The ROI tool quantifies the revenue increases and cost savings of the performance improvements and renders a series of NPV measures for the investment. This tool was later customized to address specific issues in vertical industries, e.g., trade promotions in CPG.
The tools were quickly adopted and used with success. Marketing collateral and user guides for the sales force ensured consistent application. The team also trained a small group of advanced-users who act as a SWAT team in key account situations.