In the current economic climate, organizations are tightening their belts and looking for ways to cut back on overhead expenses. Unfortunately, value management and enablement programs are often viewed as overhead, which can make them a prime target for budget cuts. As a value consultant, this can be a daunting and frustrating situation to find yourself in. You may be forced to say goodbye to valuable teammates, take on the workload of two or three people, or see your budget slashed.
But there are steps you can take to drive security for yourself and your value program.
You May Have to Carry a Quota
One option is to consider carrying a quota. To ensure that resources remain consultative, many value consultants do not carry a quota or “carry a bag.” However, tying compensation to carrying a quota while maintaining a consulting approach can demonstrate your value to the organization and make it more difficult for executives to cut your budget. We’ve seen that for value consulting and engineering, that aligning to a regional goal and performance is best, as opposed to aligning directly with one seller or a small subsection of the team. In very large organizations we have seen industry alignment work when the GTM and sales teams are also aligned by industry.
Certifiable?
As a value professional, perhaps certification is in order, obtaining the credentials that other professionals have to help bolster their capabilities and credibility. Unfortunately, although there may be some training available, and some communities, we don’t yet have a professional value consultant society and recognized certifications, which would help bolster and elevate the profession.
Prove The Value of Value
Another important step is to prove the value of your value management or enablement program. Metrics are key to this process, and can include the number and percentage of deals engaged, revenue impact, deal size improvement, win rate improvement, velocity improvement, renewal improvement, and up and cross sell improvement. By tracking and reporting on these metrics, you can demonstrate the tangible benefits of your program and make it more difficult for executives to cut your budget.
It’s also crucial to ensure that what is reported isn’t subject to interpretation. By doing so, you can help executives understand the importance of your program and make a strong case for continued funding.
Gain the Executive Support You Need
In addition to these steps, gaining executive support is crucial for ensuring the long-term success of your program. Value needs to be a strategic initiative, and executives need to support the need for value, loud and often.
It is important to be sure that executives understand the charter for the value organization and team members, that they support these resources and your budget as an imperative, and you continue to align the results the value team delivers with your executive’s strategic priorities.
The Bottom-Line
In conclusion, the value consulting crisis is real, but there are steps you can take to drive security for yourself and your program. By considering carrying a quota, proving your value with metrics, and gaining executive support, you can make a strong case for the importance of your program, avoid cuts and help ensure its long-term success.
