Why Value Matters for Durable Growth
During Gainsight & Ecosystems’ Why Value Matters for Durable Growth webinar, Jeff Depa, CRO of Gainsight, and Brent Adamson, Global Head of Research & Communities at Ecosystems, led us in a discussion around reframing value, defining durable growth, and uniting sales and customer success through value. Listen in as the two explore the role customer confidence plays in the sales process and how we can reframe value to meet our customers’ needs and increase Net Revenue Retention (NRR).
Check out the summary below for a deeper look into the discussion.
Full On-Demand Webinar
Join the CVC to Learn More!
- Reframing “Value”
- Defining “Durable Growth”
- Uniting Sales and Customer Success Through Value
[5:20] What is Gainsight and what is Ecosystems?
[7:49] What exactly is “Value Management” and Why Does It Matter?
[8:25] According to decades of Gartner research, the single biggest factor for a high-quality, log-regret deal is high decision confidence on behalf of the customer.
[8:20] Brent explains that we have a crisis in customer confidence - not in you as a vendor, but customers’ confidence in themselves.
[12:47] Jeff explains that showing the customer a clear roadmap will mitigate the risk of making purchasing decisions.
[16:29] Your customer is about to have a tough conversation about your product with their CRO. Are they ready?
[18:00] When “Clear Value” Meets Customers’ Lack of Confidence
[21:30] Brent discusses how customers often aren’t struggling with the value of your product, they are struggling with aligning their objectives.
[22:07] “Value” is an Output
[22:31] “Value” is a Team Sport
[23:25] Jeff Depa talks about the importance of thinking about the customer’s buying team and what value means to them.
[26:00] Brent discusses reframing value around the following five dimensions:
- Strategic Objectives
- Operational Tactics
- Objective Metrics
- Believable Targets
- Expected Timeline
[28:18] Building Customer Decision Confidence - “Value Framing”
- Replace “discovery” with collaborative, hypothesis-led “value framing”
- (Identify, Align, Prioritize, Execute)
- Co-determine KPIs, metrics, and targets
- Create a reverse timeline to map the path to value realization
- Ensure the customer’s “value story” moves seamlessly across internal and customer silos
- Revisit regularly to adapt to changing context and demonstrate realized impact
[39:58] Chat question: What kind of support would your front-line team need to better “frame value” for customers?
[31:40] What is Durable Growth?
[32:51] Jeff explores what durable growth is and what it looks like at Gainsight.
[34:46] Jeff discusses how growth at all costs is out. To drive Net Revenue Retention, executives should focus on durable growth.
[40:40] Jeff shares insight on the importance of building business cases where everyone, from the vendor to the clients, is aligned on the same outcomes.
[42:45] Chat question: What do you see as the biggest challenge at your organization in driving Durable Growth?
[42:30] Jeff discusses how it depends on the maturity of your organization. However, he often finds the biggest challenge is getting alignment across internal teams.
[44:28] Brent and Jeff discuss the importance of slowing down and meeting the customer where they are.
[47:50] Brent and Jeff dive deeper into customer confidence and what Brent calls Socratic selling.
[49:40] Brent and Jeff answer a question from the chat on the topic of tools not being enough for value selling, it is also about the mindset.
[52:08] Brent discusses the idea of an operating system of value.
[52:30] Jeffs explains how, at Gainsight, they start with the Outcome Hypothesis in their value journey. When this is done well, it leads to what Gainsight calls the Outcomes Flywheel.
[54:00] Jeff talks about how when the Outcomes Flywheel is in effect, they achieve their NRR Engine.
[55:00] Closing remarks.