Egnyte Increases Win Rate by 120% with Mediafly ValueStory®
Scalable, easily adopted value selling program elevates customer engagement, increases average deal size
Mediafly, a leading sales enablement technology provider dedicated to interactive presentations, content management, and value-based marketing and selling experiences, recently implemented its value acceleration program for Egnyte, a software company that provides a comprehensive business-first cloud platform to easily store, manage, collaborate, and secure unstructured business data, to massively impact win rate.
Egnyte sought an intuitive and easy way to scale its value selling program. In an environment where 66% of buyers say making a clear ROI case highly influences purchase decisions, the company engaged Mediafly to transform the way it communicates value to buyers. Together, Egnyte and Mediafly deployed a business value toolset to help drive consultative engagement with customers and help sales and marketing sell the value of the solution, rather than product features.
“A large portion of our buyers are technically focused, so naturally our sellers default to selling technical capabilities,” said Aaron Froberg, senior director of value acceleration at Egnyte. “We knew that helping our buyers get the budget they needed to purchase our software meant shifting the conversation from addressing point problems to quantifying the business value they would gain from using our solutions.”
Egnyte applied Mediafly’s Value Enablement Lifecycle to build a strong foundation of value messaging, models and tools to help them quantify value and stand out from competitors. The company was able to move sellers from merely using a toolset to developing a value skillset and mindset by taking customers through the challenges of each stage of the lifecycle. With the lifecycle model at the core, the sales team (and organization at large) began to tie every product feature, conversation, demo, and proposal to what matters most: buyer outcomes. Immediately following implementation of Mediafly ValueStory, Egnyte’s win rate increased from 30% to 66%.
“The implementation of a value selling program including ValueStory tools not only produced an immediate 120% win rate increase for Egnyte, but a more consistent rate, often of much larger deals,” said Dan Sixsmith, SVP of ValueStory sales, Mediafly.
Companies that leverage Mediafly ValueStory are able to:
Create differentiated business value messaging, storytelling and quantification
Enable prospects to self-assess challenges, “do nothing” costs, and potential benefits from their solutions
Empower marketers, sales reps, customer success managers, and partners to quantify prospect challenges, benefits, ROI and TCO
Launch interactive self-assessment tools to help prospects evaluate current capabilities and prioritize challenges
Communicate the unique value the company can deliver earlier in the decision-making process
Provide buyers with powerful visuals, insights, storytelling, and relevant success stories to motivate change
“Value selling is about deep engagement; the payoff is in the partnership you develop and the enlightenment of your customer, not just the ROI reports you produce,” Froberg added.