The Gartner 2019 Buying Survey of over 1,300 buyers asked just this question and reveals the growing importance of Value Assessment Tools.
According to the research, instead of focusing on what the proposed solutions can do, buyers are increasingly focused on the outcomes that could be delivered. Buyer’s desire to see and use value assessment methods and tools to determine the validity and potential efficacy of proposed offerings.
The top piece of content buyers said was the most valued remains Thought Leadership Created by Independent Third Parties. Content such as analyst research studies, guides and insights provide buyers with a trusted point of view.
But value assessment tools are now the second most preferred piece of content. This ahead of case studies, implementation guides, white papers, demos and videos.
We believe that a good Value Assessment Tool can help a prospect self-service, or guided via a seller or partner, to:
- Uncover priority challenges and opportunities
- Quantify the cost of “do nothing”, tallying the current costs and business opportunities for improvement
- Configure a solution to address priority challenges
- Tally the potential benefits of the proposed solution: cost savings, productivity improvements, risk avoidance and business growth
- Specify investment requirements and sum the net cash flow, ROI, NPV savings, payback and other key metrics
- Present relevant success stories proving that projected benefits and ROI are achievable
- Delivering a personalized business assessment report / presentation
According to Gartner, “Buyers are increasingly seeking value assessment tools that clearly articulate the path to value and accurately estimate the results they want from their purchases.”
Our advice? Be sure your value assessment tools are:
- Easy to use to promote adoption and usage by clients and sellers alike
- Produce credible results, not overstating current costs or benefits
- Provide the ability to review and edit all metrics and assumption (not a black box)
- Document all assumptions
- Tools developed by a third-party, and populated with third party and actual customer / success story data are most well respected and received
Even prior to the current downturn, Value Assessment Tools had grown in importance, as shown by Gartner’s research. Now, with buyers more risk averse and frugal, we believe that it is more important than ever to prove your differentiating value to prospects and customers.
Gartner’s research findings represents a great opportunity for you and your team. Our opinion is to examine your content investments, and likely more budget should be allocated to develop and deliver the Value Assessment Tools your prospects respect and demand for them purchase decision inspiration, confidence and support.
Checkout some good tool demos and success stories here:
Source: Use ROI Calculation Platforms and Tools to Convey Value to Prospective Buyers
Published 13 March 2020 – ID G00465887 Author: David Yockelson
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