How do we get started with Business Value Selling (BVS)?
Step 4 – BVS Workshops
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In the last post we covered Step 2 and Step 3. Today we will continue clockwise to the next step in the Business Value Selling (BVS) Process, Step 4, as seen in figure below.
The BVS workshop is about having the attendees not just enabled with the Why and How to of BVS, but embrace the concept, to want to eagerly embrace BVS into their current sales practices. The more success in getting participants to embrace BVS in the workshops, the more effective the latter steps of change management will go. In The Frantz Group practice, we have years of experience knowing that people only truly embrace a new idea is if they are willing to change, forced change never gives effective results.
The BVS Workshop covers at least the five topics listed below. Depending on the discovery in steps 1, 2, and 3, there maybe a need to expanding the topics and or their depth in the BVS Workshops.
1) Background, value to sales
2) Elements of a business case
3) Metrics, customer workshops, champions
4) Building a customer facing CVM (Customer Value Management) proposal
5) Delivery
How much time does it take to complete Step 4, BVS Workshops? This of course depends on many factors, number of people, time zones of participants, sales maturity, complexity of the offerings and sales situations. A complete answer is part of the SOW done in Step 3, Executive Report.
In general topics 1 & 2 are done in one morning or one afternoon session. The time for topics 3, 4, and 5 is very dependent on the number of participants as each participant is working on and role playing 2 of their active accounts. The effort is to make sure any roadblocks to embracing BVS are resolved before moving on. Rushing thru foundational stages, generally reducing uptake by participants.
1) Background, value to sales
This is the introduction to BVS:
· Why the company is committed to enabling the participants with this capability.
· What does a BVS cycle look like, what are artifacts and how they are used and why?
· Example success of using BVS, and when BVS is not a good fit in the sales process.
· The relationship of BVS to other sales methodologies.
This topic is the start of lowering and removing the roadblocks to embracing BVS.
2) Elements of a business case
Topic 2 takes the examples used in 1 and dives into the details of the different types of business cases and why they are used. Considerable time is spent making sure the participants are comfortably fluent in how to present and more importantly handle objections to a business case.
3) Metrics, customer workshops, champions
Topic 3 goes into how you build a solid business case. Who do you talk to and why, identifying a business case champion at the prospect and how to work with them, how not to get buried in the data, what data and metrics do you need and how to use it and defend it.
The participants will the take their two active opportunities and start applying what they have just learned in topic #3. There is a suggested worksheet that will help them in this first practice. This is a very interactive session with The Frantz Group. We have all been in far too many training sessions where we all freeze when the leaders ask us to now practice what you learned on your situation. It is critical for the embracing BVS to make sure all participants get started on their first practicum.
4) Building a customer facing CVM (Customer Value Management) proposal
BVS is the lead in part of getting a prospect to buy your product, the sweet spot is getting a customer for life. Customer Value Management is that pre and post sales view of the value your offering provides a customer. A CVM layers on top of a business proposal, how the sales has led to customer success.
After presenting and discussing with the participants the factors of getting a customer to define success your solution provides, and how that is presented along with business proposal, the participants work on adding CVM to their two opportunities. This topic is always a litmus test of how well the participants have embraced BVS and how well they see the bigger picture of what they can provide to their prospects and the competitive differentiator they can now offer their prospects. Essentially participants see how they can win more deal and increase deal size.
5) Delivery
The participants have all the tools, they have had help in developing their final proposal to the prospect, now is the time to stand up amongst peers and present their winning proposals, for their two opportunities. At the end of all the presentations, each presentation is critiqued by peers and The Frantz Group based on a simple Rubric The Frantz Group provides before the role-play in Topic Three.
Next Steps
The Franz Group welcomes a deeper discussion on your sales challenges. We can help you visualize how The Frantz Group and Business Value Selling will help you make 2023 the best year ever.
To organize an initial discussion of your unique situation, contact The Frantz Group, message me on LinkedIn or via www.thefrantzgroup.com contact form. I look forward to our discussion.