June 5, 2020

How to Boost Closing Ratios Using the ValueSelling Approach

By Henry Canaday

The sales consultants and trainers at ValueSelling have been instrumental in the sales transformation of a wide variety of companies that faced different markets and different challenges.

One example is Bounteous, which itself provides strategy, design, development, digital marketing, and analytics to some of the largest companies in the world. Top execs wanted faster growth and began a transformation to consultative sales with a team-based approach. To get there, they implemented, in phases, the ValueSelling Framework, Vortex Prospecting, and ValueSelling Strategic Account Management programs.

In one year, Bounteous increased its win rate by 20 percent, quadrupled its deals worth over $1 million, and doubled average deal size. Plus, unlike with some transformations, reps loved it. The company continued to retain 90 percent of employees.

“ValueSelling Training was the right choice for our organization because we are inherently trying to describe the value that we are trying to create for our customers,” says Bounteous CEO Keith Schwartz. Chief Growth Officer Dave Mankowski agrees: “We’ve been seeing some amazing growth recently – not just in how many deals we’re closing, but the types of deals we’re closing. We just recently closed…a deal that was very complex, very competitive.”

Or take doeLEGAL, which sells software and services to law firms. In 2018, the company adopted the ValueSelling Framework to target buyer personas; get a customer-focused point of view; brand itself with the tagline “smart data, intelligently delivered”; maintain marketing consistency; and differentiate itself from competitors.

These changes tripled requests for demonstrations; doubled Website calls to action; nearly doubled linking domains; boosted Twitter, Facebook, and LinkedIn followers; and, most important, tripled RFP wins.

“We get into a higher-level discussion,” summarizes CEO Tom Russo. “Everyone is putting their time into something that makes sense for both parties.” With ValueSelling, the company has cut the time spent on RFPs with no chance of success. “We’re pursuing opportunities that we’re the strongest at, and this differentiates us from the competition.”

Tealium, an Inc.-500 fast grower, sells tag management system and marketing software to giants like Cathay Pacific Airways, Domino’s Pizza, and the United States Postal Service. Global Revenue VP Laurie Schrager and the management team chose ValueSelling’s sales methodology, then ran all their sales, marketing, and related staff through a ValueSelling Framework workshop. The same approach was incorporated in Tealium’s onboarding for new hires. Sales development reps attended Vortex Prospecting training to break through fears of making calls.

Once again, results were impressive: a 40 percent growth in sales and a 40 percent increase in average deal size.

“We all agreed that we were going to drive outcomes by using a consistent sales methodology, and that created a better customer journey through all the hand-off points,” Schrager says. “The key to success is consistency.”

For more information, contact julie.thomas@valueselling.com.