Many companies in Business-to-Business (B2B) environment consider value-based selling (VBS) to be a selling approach that can move the conversation with their customers from price to value. Thus, firms today invest in training their sales force to improve how the value of their product or service is quantifiable and communicated to customers effectively.
While the implementation of Value-Selling Training Programs (VSTP) is regarded as an important step in educating sales people, little is known about the effectiveness of the programs in regard to measurable financial results for the company and the effects generated for the various parts of the organization.
However, the effectiveness of VBS has not yet been measured (e.g. financial outcomes) extensively and the effectiveness of such programs must be questioned if there is no Return on Investment (ROI) for the organization.
Based on semi-structured one-on-one interviews with key decision makers of these companies, financial outcomes were identified, e.g. increase in margins or ROI (%) of such programs and portrayed the various effects of these VSTP i.e. behavioural, awareness and marketing-related benefits, which were caused by the training. The most outstanding finding was that company managers, who focused on measuring the outcome of the training initiative received positive results whereas the majority of interviewed company decision makers did not track the success (effectiveness) in detail or were only able to describe non-tangible results – some provided a “gut-feeling” of their outcomes.
To further advance knowledge about the effectiveness of VSTP, future research avenues were identified to ensure ROI of such initiatives and areas of improvement such as suitable evaluation tools and practical methods to measure the outcome and increase financial returns of the investment.
Inhaltsverzeichnis (Table of Contents)
- 1 Introduction
- 2 Management Problem and Context
- 2.1 Aim and Purpose of the Research
- 2.2 Research Questions
- 2.3 Business Context
- 2.4 Academic Context
- 3 Literature Review
- 3.1 Achieving Competitive Advantage
- 3.2 Concept of Customer Value
- 3.3 Value of Goods and Relationships
- 3.4 Value-based Selling
- 3.4.1 VBS Behaviours and Skills
- 3.4.2 Customer Value Management and Value Calculation
- 3.4.3 Value-based Selling Training Concept
- 3.4.4 Consultative and Relationship Selling
- 3.5 Measuring Training Program Effectiveness
- 3.6 Measuring the Financial Impact of Sales Training
- 3.7 Summary of Literature Review
- 4 Research Design and Methodology
- 4.1 Methodology for Primary Research
- 4.2 Coding
- 4.3 Semi-structured One-on-one Interviews
- 5 Findings and Analysis
- 5.1 Analysis of Primary Data
- 5.1.1 Question 1
- 5.1.2 Question 2
- 5.1.3 Question 3
- 5.1.4 Question 4
- 5.1.5 Question 4a
- 5.1.6 Question 5
- 5.1.7 Question 5a
- 5.1.8 Question 5b
- 5.1.9 Question 6
- 5.1.10 Question 7
- 5.1.11 Question 8
- 5.1.12 Question 9
- 5.1.13 Question 10
- 5.1.14 Question 11
- 5.1.15 Question 12
- 5.1.16 Question 13
- 5.1.17 Question 14
- 5.1.18 Question 15
- 5.2 Evaluation and Limitations of Study and Methodology
- 5.3 Results
- 5.4 Generalization of Research Findings
- 5.1 Analysis of Primary Data
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research aims to determine the effectiveness of Value-Selling Training Programs (VSTPs) on an organization's financial performance and the perceived behavioral changes within the organization. The study analyzes the measurable financial improvements and perceived outcomes before and after the implementation of a VBS initiative.
- The effectiveness of Value-Selling Training Programs (VSTPs) in improving financial performance.
- The impact of VSTPs on sales representatives' behavior and sales conversations.
- Key performance indicators (KPIs) and methods for measuring the financial impact of VSTPs.
- The role of customer value creation and its relationship to competitive advantage.
- The identification of best practices and recommendations for improving the design, implementation, and effectiveness of VSTPs.
Zusammenfassung der Kapitel (Chapter Summaries)
1 Introduction: This chapter introduces the research topic, focusing on the effectiveness of value-based selling (VBS) training programs in improving financial performance and maintaining a competitive advantage. It highlights the existing research gap regarding the measurable financial success of these programs and provides a brief outline of the subsequent chapters.
2 Management Problem and Context: This chapter outlines the management problem of measuring the effectiveness of value-selling training programs. It defines the research aims and questions, which are centered on the measurable financial impact of such programs and the perceived changes in sales representatives' behavior. The business and academic contexts are described, setting the stage for the subsequent literature review.
3 Literature Review: This chapter provides a comprehensive review of existing literature on value-based selling, customer value, competitive advantage, and the measurement of training program effectiveness. It synthesizes various theoretical perspectives and empirical findings to establish a framework for understanding the key concepts relevant to the research questions. The chapter concludes by highlighting the scarcity of research specifically addressing the financial impact of value-selling training programs, thereby justifying the current study.
4 Research Design and Methodology: This chapter details the research methodology employed in the study. It describes the research philosophy (positivism), approach (deductive), and strategy (qualitative survey). The chapter explains the use of semi-structured interviews as the primary data collection method, outlining the interview guide structure and the steps taken to ensure reliability and validity. The sampling frame and the rationale for the sample size are also presented.
5 Findings and Analysis: This chapter presents and analyzes the findings from the semi-structured interviews conducted with key decision-makers in organizations that had implemented value-selling training programs. The analysis explores the objectives of the training programs, the methods used to evaluate their effectiveness, the financial impacts observed (or lack thereof), and the perceived organizational changes. The chapter also discusses the limitations and potential biases associated with the qualitative research approach.
Schlüsselwörter (Keywords)
Value-based selling (VBS), Value-selling Training Programs (VSTPs), Customer value, Competitive advantage, Financial performance, Sales training effectiveness, Return on Investment (ROI), Sales representative behavior, Qualitative research, Semi-structured interviews, Kirkpatrick’s four-level evaluation model, Total Cost of Ownership (TCO).
Frequently Asked Questions: Value-Selling Training Programs and Financial Performance
What is the main topic of this research?
This research investigates the effectiveness of Value-Selling Training Programs (VSTPs) on an organization's financial performance and the perceived behavioral changes within the organization. It focuses on measuring the financial improvements and perceived outcomes before and after implementing a VBS initiative.
What are the key objectives of this research?
The research aims to determine: 1) the effectiveness of VSTPs in improving financial performance; 2) the impact of VSTPs on sales representatives' behavior and sales conversations; 3) key performance indicators (KPIs) and methods for measuring the financial impact of VSTPs; 4) the role of customer value creation and its relationship to competitive advantage; and 5) best practices and recommendations for improving the design, implementation, and effectiveness of VSTPs.
What is the structure of the research paper?
The paper is structured as follows: 1) Introduction; 2) Management Problem and Context (including research aims and questions, business and academic context); 3) Literature Review (covering competitive advantage, customer value, value-based selling, measuring training effectiveness, and the financial impact of sales training); 4) Research Design and Methodology (detailing the qualitative research approach, semi-structured interviews, and data analysis); and 5) Findings and Analysis (presenting and interpreting the interview data, considering limitations, and offering generalizations).
What methodology was used in this research?
The research employed a qualitative approach using semi-structured one-on-one interviews as the primary data collection method. The study uses a deductive approach based on positivism philosophy. The chapter details the interview guide structure, steps taken to ensure reliability and validity, sampling frame, and rationale for sample size.
What type of data was collected and analyzed?
Primary data was collected through semi-structured interviews with key decision-makers in organizations that had implemented value-selling training programs. The analysis explored the objectives of the training programs, methods used to evaluate their effectiveness, observed financial impacts, and perceived organizational changes.
What are the key findings of the research? (Detailed information is found in Chapter 5).
Chapter 5 presents a detailed analysis of the primary data obtained from the interviews, addressing several specific questions related to the effectiveness and impact of VSTPs. It also discusses limitations of the study and methodology. The findings explore the relationships between VSTPs, financial performance and changes in sales representative behaviors.
What are the key themes explored in this research?
Key themes include the effectiveness of Value-Selling Training Programs (VSTPs), the impact on sales representative behavior, measuring the financial impact of VSTPs, the relationship between customer value creation and competitive advantage, and best practices for improving the design and implementation of VSTPs.
What are the keywords associated with this research?
Key terms include: Value-based selling (VBS), Value-selling Training Programs (VSTPs), Customer value, Competitive advantage, Financial performance, Sales training effectiveness, Return on Investment (ROI), Sales representative behavior, Qualitative research, Semi-structured interviews, Kirkpatrick’s four-level evaluation model, Total Cost of Ownership (TCO).
What is the significance of this research?
The research addresses a gap in existing literature by focusing on the measurable financial impact of value-selling training programs. The findings provide valuable insights for organizations seeking to improve their sales training initiatives and enhance their financial performance through value-based selling strategies.
- Citar trabajo
- Thomas Menthe (Autor), 2016, Effectiveness of Value-Selling Training Programs, Múnich, GRIN Verlag, https://www.grin.com/document/323945
