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Quantifying value to customersCSM with Business Value Consulting

#Pulse2017

UVL UPPULURICustomer

Success Director, Strategic

Accounts Splunk


What is Splunk®?• Company Mission

• Make Machine Data Accessible, Usable and Valuable to everyone.

Company (NASDAQ: SPLK)

• Founded 2004

• First software release in 2006

• HQ: San Francisco, CA

• Revenue: ~1B (FY17)

• Over 13,000 customers worldwide

Licensed by data volume


Customer Life Cycle

3

Land

AdoptExpand

Renew


Business Value


Roadblocks Hit in Expand Selling

Once customers reached a certain size or time with their deployment, roadblocks hit on budges and approvals

5

Top Challenges to Positioning Value

Lack of Tools to Make Value

Measurement Easy

Not Enough Time to Assess

Your Value

Lack of Splunk and Industry Benchmarks


Business Value Consulting (BVC) at Splunk

BVC (and CSM) launched in 2013: 1000+ engagements since 2013

BVC (and CSM) launched in 2013: 1000+ engagements since 2013

1. Help customers translate technical or operational value of Splunk to business value.

2. Document the projected and already realized business value of Splunk to facilitate more rapid expansion.

Common Deliverables:

› CFO-Ready Business Cases› Value Realization Studies› Use Case Adoption Strategies› Customer and Industry Benchmarks› Skills & Staffing Readiness

2016 TSIA STAR Award - Innovation in Expand Selling


Best Practices for Quantifying Value and Gaining Executive Support Taking your customer deployment to the next level

3

Measure, Track, and Report Your

Success

1

Align with Key Business

Objectives

Qualify and Quantify

Business Value

2


Value is in the Eye of the Beholder

1

Align with Key Business

Objectives

Did you know you can save 15% on your car insurance when you call Geico?

Is that important to you?


Steps to Aligning with key objectives

ü Align your project with something strategic

• Take a top-down approach with an executive sponsor

• Link your plan to Top key objectives

• Explain how Solution aligns to these objectives

Land + Value Baseline

1

Alignwith key

objectives


Common Objectives and Tools

Documented through 700+ engagements worldwide

Corporate ObjectiveKey InitiativesRisk and Critical CapabilitiesAccount Alignment

Tool #1 - Value Stack


Steps to Qualify Value

ü Leverage the tools

• Talk with influential and knowledgeable people

• Document challenges, As Is and To Be Processes

• Summarize and socialize to gain support

Qualify and Quantify

Business Value

2

©2017 Gainsight. All Rights Reserved. 12


Quantifying Value with Splunk Tools

Tool #2 Splunk IVA/R• Over 45 Value Calculators based on customer results• Complete Financial Analysis• Best Practice TCO Models

13

TurboTax style UI and flow Compare with Excel!

Tool #3 Splunk Adoption Assessment

Tool #4 TCO


Measuring & Tracking Success

• Tell the Success story of VR and product usage

• Compare your success against customer benchmarks

• Assess your usage and staffing maturity

Then bring it all together

Helping you take it to the next level

3

Measure and Track Your Success

#5ValueRealization/Usage

maturity

#6SuccessStories/

Benchmarking

#7COE-SkillsReadiness/UsecaseExpansion


Measure Success with Value Realization

• Summarize BEFORE and AFTER Splunk

• Capture metrics of improvement

• Socialize your success

“Money follows money well spent”

NOTE: From a $40B+ Global Retailer


Map Your Progress vs. Splunk Benchmarks

Groups

Infrastructure

Inventory

Manufacturing

Payroll

Collaboration

Estimates based on Value Realization and Usage Maturity

Incident Avoidance15% 45%Splunk Benchmark

35%

20%

10%

0%

0%


Bring it All Together

Quantified Benefits

Drill Down Use Cases

Success Stories

Key Objectives

Current Pain Paints

Desired End State

Investment Schedule

Financial Performance

Training Plan

ü Covered by Splunk Value Tools

Exec Value Brief

COE Analysis

Value Assessment

Value Realization

ü CSM Activities


Result: Impact on Splunk’s Bottom Line

18

CSMs and CSPs leveraging BVC Assets

Noticeable outcome when Pre-Sales and Post-Sales synergize on value

268%Greater transactions

per quarter

156%greater average order

size


Actionable Insight

19

Document barriers

Develop Tools and Eliminate barriers

Train & measure

Embed Presales into Post Sales

Scale by automation


Conclusion and Next steps

• Invest in a group focused on value (both pre and post-sales)

• Leverage and Deliver in CSM land• Automation and Systems for tracking value over time


THANK YOU


#Pulse2017

Date post:	09-Dec-2021
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