Large B2B organizations are facing a changing sales landscape with more centralized buying, longer sales cycles, and increased competition. In the face of these trends, industry leaders know that value-based selling is a key capability that can unlock increased profitability and higher win-rates. However, making a value-based approach stick across seasoned sales organizations can be difficult. To meet this challenge, embedding a structured and consistent process is required to ensure that each bid meets the goals of this approach.
This isn’t about having a tool that calculates a precise recommended price. The first few screens that spark the conversation around client priorities and quantifiable outcomes is already adding a lot of value.Global Segment CEO
Oliver Wyman’s value-based selling tool equips B2B sales organizations with a customer-centric approach to creating bids and winning deals. The web application prompts sales professionals to tailor solutions to each customer’s needs. The tool also encourages strategic risk taking by analyzing the riskiness of a bid and offering differential margin guidance. Sales professionals can create and compare multiple options, ultimately submitting the best offer to the client.
We typically see a 5% increase in win rate with two points of margin increase with our value-based selling tool.
1“It's all online, in one place, so anyone from the team can check out the bid and it's all in there. This is going to be a game-changer for us.”
SVP, USA Operations
2“The hardest part is culturally changing people's minds on how to look at a bid and trying to quantify the value. We rarely do that today.”
SVP, Global Commercial Finance
3“This process that you are driving where we start with talking about value and the client’s willingness to pay is the process that we should be doing every single time.”
4“The great thing about the tool is that it lets us create multiple options and straw models. It’s rare for us to do any kind of early drafting and comparison today which is why this is so helpful.”
5“I was reviewing a bid and I was really impressed with the salesperson's grasp of what he was delivering and what the client wanted – I now see why – it’s because he went through this process and used the tool. This is really what we’ve been trying to drive and I see that as a huge value add.”
SVP, Global Business Development