Today’s episode was all about Value Based Selling. We were fortunate to interview Ed Golod of Revenue Accelerators and of TechnicalThoughtLeader.com.
Ed has tons of expertise and built his first company to $14M using the strategies we discussed in this episode.
Here are some of the questions we discussed:
Question 1- Can you give a high level overview of what business value is?
Business value – what clients expect and vendors provide that is operationally, strategically and financial aligned with the account with its C-Level priorities and initiatives.
Value is different than ROI and feeling like you get value for what you paid for. Value based selling is all about mathematically proving that your solution generates revenue, decreases costs, or minimizes risk.
Question 2 – Why is it so hard to do?
Requires quantitative and qualitative thought.
Requires sales reps that have general business acumen.
Most of all, ones who do not FEAR selling to the top!
Question 3 – How effective is it?
Ed: Nothing is more effective than selling to the top especially to the C-Level.
It drives faster access and engagement.
Gives you the advantage as you are strategically aligned to the account’s priorities and spend!
As long as the product you’re offering is solid and your GTM position is good, you had a huge advantage.
Question 4 – Can you give us some examples of when it was used effectively?
ED: I have used this with clients as well as direct selling experience with Teradata, SAS Institute, SAP, Eloqua, and secured meetings with CMOs, CFO’s CIOs & CEO of companies from Cablevision, Voya Financial, HBO, Viacom,
It cut 20% off my sales cycles.
It’s only 5-10% of all vendors who can do this effectively
Question 5 – If a business wanted to begin to incorporate this into their sales system, how would they do it?
ED: Commit to value as a competitive advantage.
Have it sponsored by management.
Bring in marketing and sales and sales enablement and get everybody to work on it as a team
About the Hosts:
Edward Golod, Founder & CEO of Revenue Accelerators, and co-Founder of Technical Thought Leader (.com). Ed is a C-Suite Sales, Marketing & Value expert, as well as the revenue architect for clients in three continents and 10+ countries. Ed has personally been responsible for closing $265M in Enterprise sales throughout his career and has grown two startups, had two exits, and grown on to $40M. Ed regularly is renowned for his unique ability to create, articulate and leverage executive and value-based messaging that has reached the C-Suite at Fortune 100 companies, creating new opportunities at Viacom, JPMC, Citicorp, Cablevision, Voya Financial, HBO, Lowes, Under Armor, Dicks Sporting Goods just to name a few. Ed’s sales systems have generated $100’s million of dollars and $3.4B in value for him and his clients.
Ed can be reached at ed@revenueaccelerators.com or on LinkedIn: www.linkedin.com/in/edwardgolod
Gloria Gunn is the CEO of TechnicalThoughtLeader.com and has personally developed thought leadership selling strategies for technology companies that have been responsible for 7- figure deals. Gloria has personally had a front-row seat to over 1 million LinkedIn messages. Gloria’s businesses have generated over 8 figures by selling our products and services from LinkedIn. Clients, customers, & subscribers have successfully generated 10s of millions of dollars for themselves and their clients from our systems, packages, & products. Gloria also successfully positions her clients as experts with authority so that they can go upmarket and close real business.
Gloria can be reached at gloria@technicalthoughtleader.com or on LinkedIn: www.linkedin.com/in/gloriagunn