Podcast Description
How do you implement a Value Realization program and get it right?
In this coffee talk we grab time with value practice leader Michael Ketchmere, to discuss his journey for implementing Value Realization at sales performance management firm Xactly.
He shares why Value Realization is so important, how a simpler approach is best, and how he instrumented tools and the product to help get the practice deployed, scaled and optimized.
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They discuss the challenges of implementing value realization, enabling customer success with value realization, implementing value realization across product lines, the role of a chief value officer, the SOAR model for storytelling, outcomes of implementing value realization, and advice for implementing value realization.
Takeaways
- Value realization is a top challenge for businesses in 2024, as the focus shifts from growth at all costs to profitable growth and retention and renewals become more important in the subscription-based economy.
- Implementing value realization requires change management and addressing concerns over required expertise and resource constraints.
- Enabling customer success with value realization involves leveraging existing tools and frameworks, such as success plans and value realization repositories.
- Value realization should be integrated across the entire customer lifecycle, with a focus on delivering value and aligning with customer goals.
- The storytelling approach to value realization, using frameworks like SOAR (Situation, Objectives, Actions, Results), is more effective than focusing solely on ROI metrics.
- Implementing value realization can lead to improved scalability, faster enablement of new practitioners, and more impactful content for sales and marketing.
- Getting started with value realization is crucial, even if it’s not currently a part of the organization’s charter, as it is essential for renewals, upsells, and cross-sells.
- The role of a chief value officer is becoming increasingly important in orchestrating value across the entire organization.
- The Enterprise Value Collective provides a community for business value-focused leaders and practitioners to share and grow together.
Chapters
00:00. Introduction and Importance of Value Realization
03:01. Challenges in Implementing Value Realization
06:11. Enabling Customer Success with Value Realization
10:13. Implementing Value Realization Across Product Lines
13:21. The Role of a Chief Value Officer
15:57. The SOAR Model for Storytelling
18:46. Outcomes of Implementing Value Realization
19:51. Advice for Implementing Value Realization
21:08. Conclusion
