Context
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
Revenue Solution
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.
Impact
We typically see a 5% increase in win rate with two points of margin increase with our value-based selling tool.