776: How to Deliver Value Throughout the Buyer Journey w/ David Campbell

ABOUT THIS EPISODE

In this episode we talk to David Campbell, VP of Product Marketing at AvidXchange.

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Looking for a guaranteed way to create content that resonates with your audience? Start a podcast, interview your ideal clients and let them choose the topic of the interview, because if your ideal clients care about the topic, there's a good chance the rest of your audience will care about it too. Learn more at sweetfish MEDIACOM. You're listening to be tob growth, a daily podcast for B TOB leaders. We've interviewed names you've probably heard before, like Gary Vander truck and Simon Senek, but you've probably never heard from the majority of our guests. That's because the bulk of our interviews aren't with professional speakers and authors. Most of our guests are in the trenches leading sales and marketing teams. They're implementing strategy, they're experimenting with tactics, they're building the fastest growing betb companies in the world. My name is James Carberry. I'm the founder of sweetish media, a PODCAST agency for B Tob Brands, and I'm also one of the CO hosts of this show. When we're not interviewing sales and marketing leaders,...

...you'll hear stories from behind the scenes of our own business. Will share the ups and downs of our journey as we attempt to take over the world. Just getting well? Maybe let's get into the show. Welcome back to the B tob grows show. We're here today with David Campbell. He is the VP of product marketing at avid exchange. David, how you doing today, man? I'm doing great. I'm really happy to be part of this call. Thank you so much. Yeah, thanks for joining us on the call today, David. We are going to be jumping into the topic of integrated value delivery, something that you're very passionate about, as you mentioned offline. So really excited for you to share with US how marketing teams and how companies can use this to retain customers to build their customer base. But before we do that, I'd love for you to take a second give people some background on why you're sharing about this and what you and the team and advot...

...exchange er up to these days. Sure. So, integrated value delivery is a topic that's really near and dear to me because every company I've been at and I own. I spent my entire career in be tob type of type of companies. They go through common problems in terms of how they articulate their products, how their customers view the value of those products and their ability to sort of come to a common consensus with their customers on those things. And I've found that if you can align your customers with the way you think about value of your product, it makes a whole bunch of follow on things a lot easier. So this is something that we're implementing at advot exchange or something that implemented to varying degrees at other companies, and it's something that when you implement you can get incremental value. So if you don't go all the way with it, you're still getting value at every step that you do implement. So it's a really worthwhile investment. Okay, awesome, all right. Well,...

...well, let's jump right in. At that point then, David, define integrated value delivery for us in your terms. Sure. So, integrated value delivery is really this idea of being very, very disciplined in terms of defining your benefits of your products in terms of the measurable business value they deliver and then reinforcing that measurable value throughout the entire customer experience from the way you market the way you sell, to the way you engage with customers from a customer support standpoint and even the way in which you contact customers in order to get them to do renewal us. Yeah, so you know, as we were talking offline about this idea, you mentioned your messaging in your sales processes are some of the first areas to look at it and implement this concept of integrated value delivery. Give us, give us some for instance there, and maybe the messaging part of things. Sure. So it all starts with the...

...one rule that everything else is predicated on, and s your your benefits, must articulate some kind of measurable value. You know, we all learn in marketing school about the differences between features and benefits, but this takes it a step further. So by measurable I mean that your you can devise a metric that would show unambiguously improvement or diminishment of that value if you were to track it. So, in terms of aligning your messaging in your cells and marketing content, what that means is you take those benefits and that's the way in which you describe value of your product in your collateral, in your presentations, in your case, studies everything that you do. It also includes things like Roy tools and in fact it kind of paves the way nicely for our Olie tools. You can you can do an analysis of savings that you're providing the customers based on achieving those measurable benefits that you've defined, and that's going to pay offf dividends later in your life cycle with those customers. So focusing your...

...messaging further along into, you know, when the customer has actually implemented your product and and not only, you know, seen the benefits, but seen that measurable value that they're getting from those benefits. Not just that. It saves you time, but it saved me Xyz time this week because I did this, this and this. Right, that's right. So, since we're selling to business customers, of course they have to make a very pretty rigorous justification to buy your products, and as particularly versus other alternatives or versus the alternative of doing nothing maintain stas quote. So what you're doing with these customers by doing this is your arming them with the information they need to put together a business case case to buy your product. Gotcha, I love it, all right. So so next, the other thing you talked about. As you start to implement this idea, the strategy of integrated value delivery is actually...

...building your products so that it can meeter the value that's delivered your customers. Tell us a little bit about that. Yeah, this is kind of like what I would say is advanced integrated paw you delivery, and what I mean by that is you can instrument your products to actually measure the value delivered. So, for example, if one of your benefits is reducing the time to do something, then your product should be able to measure that time and then keep track of it and over the course of, you know, the years of owning your product, it should accumulate the total savings in time. If your product is supposed to reduce the cost of doing things, then the product could estimate the before and after cost using configurable assumption. So, for example, if if you were saving cost by, say, for example, reducing the amount of time that some analysts has to work on some problem, then...

...you you'd want to be able to configure a product with the Fte cost of that analyst and then calculate the amount of time savings and any amount of money savings over time and then also allow the customer to override your assumptions about that. You've input into the form, know, so that they can have control over that so it makes sense for their business. Yeah, I think that's a really good point. You know, making that Roi calculator actually configurable so that you know you're not locking them into your assumptions right exactly, so that they the important thing here is, like everything that you've done, when you when you're align your messages and your product with that, you're reinforcing this your notion of value, and the most important thing that you can achieve with this is having your customers nod their head and have them to have them look at your product in terms of that value. That way you're on the same page in terms of what they expect to get out of your product. So,...

...you know, this gets my wheels turning and I'm sure a lot of our audience and, as we were talking about offline, you know, this is, as you've already mentioned, can be a big driver during the sales process to help you know your contact prove the Rli to the rest of the team that's involved in in the buying decision. But more than that, you know, as you mentioned, getting your customers to continually nod their head at the value that they're getting out of your product. So tell us a little bit about, you know, where this goes beyond initial customer acquisition, improving the Roi to new customers, because I think that it can have impacts further than that right. Oh, yes, this is this is where things get really exciting. So really you're laying the groundwork for for all of this other kinds of wonderful things that can have and in terms of you're dealing with your customers. So, for example, in terms of your customer satisfaction, having that shared understanding about value means that all of your customer interactions are reinforcing how that...

...how that value is measured, the data that you're getting from your product in terms of value delivery. That's that can be used a highlight areas where customers could be getting more value by using other parts of your product or by improving your product from a product roadmap standpoint, to address anywhere where the data showing it you're not delivering as much value as you should. It can be used as a customer satisfaction metric so you can measure customers proactively to see how happy they are with your product before you even talk to them, and you can even use it to do things like getting proactive notification of your value promises that you're not keeping. So if you're beneath some threshold, you might want to be notified that this. Customers going to be affected by that. Yeah, in terms of like renewals, you can know ahead of time, ahead of your renewal discussion, whether your customers actually receiving the value that you promised and you can take remedial action. So if I know a customers coming up in...

...the next four months for renewal, I can go run a report, figure out how well we're delivering value and if we're not, we can take corrective action before I go out there and talk to my customer and try to get them to pulling up for another year. Yeah, yeah, especially seeing where the customer is specifically seeing value. That enables that salesperson that's having that renewal conversation to have a much more in depth and on point conversation than just you know, do you like the product? Do you want to continue with us? Right, exactly, exactly, and it also he's pre warned about what he's going to hear. He shouldn't be surprised when he walks into that customer sometimes, you know, if you don't really know you, your reps can be very surprised by what they learned when they finally get to the customer site. Yeah, yeah, what are some of the things you guys are doing internally to roll out this strategy? You mentioned it's something that you guys are are working on at advtate exchange yourselves. What are some of the things you...

...guys have seen lately? Well, this is a something that I have amplemented at multiple companies to varying degrees and, as I was mentioning, you don't even have to go necessarily all the way with, as a start, reading some of the benefits. If all you did was instituted a rule that said gay, verily, all benefits from here on, how are going to be measurable business impactful benefits? If all you did was that, you would still end up with more compelling messaging and with tangible benefits that will resonate with customers better that average exchange. We're kind of past the institution of measurable benefits and now we're implementing message alignment and we're and we're starting to work with the product management teams to start implementing that value tracking, to start looking at, well, what's it going to take to instrument our product to track that value? As you mentioned, not just sales enablement, but you're you're powering your future...

...product romap right. That's exactly right. So once you have this data, you can weigh features against their impact on that value and you can focus your improvements on areas where you're delivering insufficient value. Yeah, getting getting very, very tactical about the decisions that you're making and backing them up with with the data that supports it. That makes that makes a ton of sense. Well, David, this has been a great conversation. I really appreciate you bringing bringing this idea and some specific examples of ways that people can implement and start to think about more of this idea of integrated value delivery. If people want to follow up with you on questions on this topic or just stay in touch, what's the best way for them to reach out? I think the best way would be on link in my profiles at www dot linkedincom in. I M David l Campbell like the suit perfect. Well, we will end up...

...with that. If you're listening to this, definitely reach out connect with David. I think we connected there initially as well. So, David, I appreciated your time, thanks for connecting and thank you for being on the show. Sir. Thank you very much, very much appreciate the are becoming a thought leader doesn't just happen. If you want to build a strong personal brand and extend your reach online and offline, you need a plan. Want help developing yours. CHECK OUT IMPACT Summit. This one day event is bringing together best selling authors, professional athletes, influential CEOS and emerging entrepreneurs, all for one purpose to equip you to lead, influence and inspire. Whether you're looking to build a lasting legacy with your business or extend the reach of your brand. Impact Summit speakers will share inspiring stories and practical lessons to help you on your way. Did we mention a session on launching and growing a podcast?...

You guessed it. You'll hear from sweet fish media's own James carberry during that session. You won't want to miss all of these influencers and leaders coming together in Salt Lake City on October thirteen. Ready to learn more? Check out influencer INC DOT COEO IMPACT SUMMIT BE TOB growth. Listeners can get fifteen percent off the price of their tickets for this event by using the Promo Code Sweet Fish. Sweet Fish. So use that code, get your tickets today and get ready to grow your brand and your influence at Impact Summit two thousand and Eighteen.

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