ROI Case Studies
VisualizeROI's clients have reduced sales cycles, increased win rates, and maintained pricing discipline through the effective use of value selling. Here are a few examples of companies that have boosted sales success with VisualizeROI.
A Talent for Sales: How Cornerstone OnDemand Tackled Prospects’ Indecision
Cornerstone OnDemand is a leading global provider of cloud-based talent management software solutions. Nearly 13 million users across 190 countries rely on Cornerstone’s solutions to source and recruit top talent, develop and engage employees throughout their careers, improve business execution, cultivate future leaders, and enable external networks of customers, vendors and distributors.
Cornerstone’s Mid-Market Sales team sells to mid-size organizations, most of which are first-time buyers who have never invested in talent management before. In 2012, the team saw an opportunity to maximize the utilization of value selling to HR and C-level executives, and to offer prospects scenario-based visions of the future. This led Cornerstone to upgrade its current selling strategy and implement VisualizeROI across the Mid-Market Sales team.
Before VisualizeROI, Cornerstone OnDemand used third party media articles and home-grown Excel spreadsheets to showcase the value of their software and services in sales meetings. While the information presented through these materials was helpful in demonstrating various trends and growth patterns, this content could not quantify the value to prospective clients, nor describe how Cornerstone might be able to impact their specific business. Furthermore, working with Excel spreadsheets created inefficiencies, slowed down the process and didn’t offer prospective clients any interactivity.
Because Cornerstone was working with first-time buyers, the company was determined to build better business cases and pricing conversations while simultaneously enabling their prospects with a collaborative process.
Cornerstone introduced the VisualizeROI product to its Mid-Market Sales team in May 2012 to utilize during sales pitches and meetings. Having the ability to customize solutions for various prospects and collaborate through the sales process proved to be a great conversation builder, as well as a significant time saver. When the team used the tool early in the sales process, they were able to deliver more client-specific data (not just industry trends); provide various use case models for each company; plus shorten sales cycles by encouraging prospects to buy sooner, or ending sales cycles earlier when engagement or interest wasn’t present.
Since implementing VisualizeROI across Cornerstone’s Mid-Market Sales team, they have realized the following results:
- Decrease in sales lost due to no decision, as well as an increase in closure of larger/multi-module sales deals
- Reduction in time and operational cost spent on prospects who don’t value ROI-based conversations
- Substantial value-added across sales cycles based on the ability to customize every conversation and business case
Cornerstone has received positive feedback from some of its prospective clients regarding the tool’s simplicity, intuitiveness and ease of customizations. Some prospects also have been impressed by the ROI impact in the model presented in real-time.
By using VisualizeROI’s tools, Cornerstone is better able to avoid being held back by lagging sales cycles, stale data and ineffective ROI conversations. VisualizeROI and Cornerstone share the same goal: to help present value propositions in visually impactful and collaborative ways. In the future, Cornerstone intends to continue to work with VisualizeROI to foster even greater client engagement, increase deal sizes and achieve positive sales results.
HomeAway Turns Its Sales Model into Hot Property with VisualizeROI
HomeAway, Inc. is the world’s leading online marketplace for the vacation rental industry, with sites representing over 775,000 paid listings of vacation rental homes in 171 countries. Through HomeAway, owners and property managers offer an extensive selection of vacation homes, making it easy for vacation rental owners and property managers to advertise their properties and mange bookings online. Their mission is to have every single vacation rental in the world available to everyone and to make online booking as seamless as possible.
Since the company was founded in 2004, it focused primarily on B2C sales, talking primarily with landlords who owned only one property. However, in 2010/2011, the company started gaining traction on the B2B side and the sales team required greater resources to communicate their value proposition. HomeAway’s sales reps were approaching property managers with over 1,000 properties with current marketing spend anywhere from $10-20,000 to $1 million. It wasn’t until this shift that the team realized the need for a more analytical ROI tool that could communicate the value on this level and scale.
Before VisualizeROI, HomeAway used a wide range of solutions – everything from homegrown excel spreadsheets to screen shots mocked up in Power Points or Microsoft Word documents. There was never a consistent strategy; the team used whatever resource was at their disposal to communicate with their customers. Nevertheless, it was not an efficient approach and was not effectively communicating the value of HomeAway’s products or services in a visually compelling or quantitative way.
Because HomeAway was working with more property managers on the B2B side, the company required a more sophisticated tool that was much more analytical, intelligent and provided a solid ROI conversation-starter.
In March of 2012, HomeAway decided to implement VisualizeROI across its North America B2B team, with approximately 10-15 employees. The solution fit their needs exactly and they moved quickly to train and deploy the solution across their team. Having the ability to communicate the ROI more effectively to its customers and present various business cases, the team was able to have more valuable conversations at the beginning, therefore limiting multiple follow-up conversations and increasing employee productivity.
With success on the North American Sales Team, HomeAway extended the VisualizeROI tool to its Global Sales Team in multi-languages, with over 50-60 Account Managers.
Since implementing VisualizeROI across HomeAway’s B2B North America and Global Sales Team, the company has realized the following results:
- Significant increase in sales with new customers not attainable prior to VisualizeROI
- Growth in existing accounts yielding increase in sales
- Reduction in sales cycles based on the ability to have more impactful ROI conversations early on
- Increase in employee productivity and capacity
- Uplift in value-based conversations leading to global expansion of VisualizeROI tool across sales teams
HomeAway has also received positive feedback from both its employees and customers on the ease of use and how effective it is in presenting various outputs and ROI cases. There has been heightened communication internally amongst the sales team, demonstrating their level of understanding, liking and knowledge about the tool.
As HomeAway continues to evolve and advance as the largest online marketplace for vacation rentals, it will continue needing an effective and adaptive solution. VisualizeROI is just that and more. With new products, payment models and services in the pipeline, HomeAway is excited to gain greater customer engagement with VisualizeROI, as well as continue to communicate the value of its offerings in a visually compelling way.
Open Scan Upgrades its Value Selling Platform to Focus on Customer ROI
Open Scan provides leading-edge automation software and services that dramatically improve performance and efficiency of processing enterprise receivables and payables. It enables corporations, financial institutions, and government agencies that receive either electronic or paper payment and remittance documents to realize the highest levels of automation, data accuracy, and operational savings for their receivables processing.
When you’re a financial SaaS platform helping customers save money in labor and reduce time in working capital, while processing payments, you need to offer an intuitive product that visually demonstrates the quantifiable business benefits associated with solving your customer’s immediate pain points. This principle is the heart of Open Scan’s business – and the motivation for the company to implement VisualizeROI across its sales team.
Before VisualizeROI, Open Scan used isolated Excel spreadsheets as a tool to showcase the value of their software and services to prospective customers. Often times, the Excel spreadsheet proved to be inefficient as it wasn’t visually appealing or collaborative. More often than not, customers pushed back because they couldn’t visualize the ROI, resulting in prolonged sales-cycles and superfluous follow-up conversations. Also, because Open Scan’s solution varies from sub-sector to sub-sector, the marketing organization feared they were missing the best targets. They did not have a tool to provide them with statistical information to hone their outbound marketing strategy.
Because Open Scan’s platform is built on value-based selling, the company knew it needed to adopt an intuitive solution that would prove the ROI in a more efficient and visually compelling way, as well as provide key data points around real company inputs. Moreover, when Open Scan started looking into VisualizeROI, another pain point was uncovered that they hadn’t considered: flexibility. With Excel, Open Scan didn’t have the control or flexibility to showcase different value propositions based on specific variables, such as expenditures or opportunities, and furthermore, couldn’t involve the customers in the process. Everything was a follow-up conversation or another meeting that required a revised spreadsheet.
Open Scan started working with VisualizeROI in December of 2012 and rolled out the platform to its sales teams in April 2013. Currently, there are eight sales people plus the VP of Sales who utilize VisualizeROI with over 100 interactive “Visualizers,” which are specific models tailored to individual customers. Not only have these models helped the sales team better prepare for sales meetings, but more important, they have allowed them to focus each conversation on the specific value the customer would realize by implementing Open Scan in their organization.
Since implementing VisualizeROI across its sales team, Open Scan has received the following results:
- The time the sales team spent preparing pricing and ROI presentations has been cut by 50-75%
- The level of customer interaction and engagement has significantly increased, therefore enhancing the customer experience and saving the sales representative’s time in back-and-forth conversations. It has also allowed the sales team to better understand what customers are thinking about and where they will derive the most value from the Open Scan solution.
- The average amount of time taken from the pricing stage of Open Scan’s sales methodology to the next phase has been cut by about half
- Through VisualizeROI’s statistical reporting capabilities, Open Scan’s marketing organization is better equipped to identify and target customer segments based on demographic thresholds which correlate to customer value
Open Scan has received positive feedback from various customers on the ease of use, flexibility, and level of interaction with the product. Open Scan’s customers and prospects have been delighted with the level of control and empowerment they have experienced when using VisualizeROI to have value-based conversations with Open Scan’s sales and account managers. By collaborating with customers on the process, OpenScan found they were more comfortable putting the numbers into the system themselves and had greater buy-in and more trust in the outcomes.
Based on the level of satisfaction from Open Scan’s sales team and customers, Open Scan plans to leverage VisualizeROI in all of its customers’ pricing plans and sales meetings. Eventually, the company will make VisualizeROI the standard and mandate that it be used with 100% of its prospects.