The value of digital content has skyrocketed over the years, especially in 2020 and 2021. While one cannot deny the value it brings to business, there are concerns and challenges in string it safely in digital format. Egnyte is a provider of software platforms that can help businesses ensure security storage of their digital content.
Using Egnyte, IT can manage content in a unified location with automatically applied data security, compliance and ransomware features. At the same time, employees will have the tools to work from any cloud on any device at any location. The platform is useful for all enterprise processes which use critical content- from information security, governance, and compliance to marketing, sales, research & development, and operations. From an IT perspective, Egnyte provides protection from data breaches and ransomware attacks, ensures compliance and helps discover and audit data. For company employees, Egnyte delivers a unified platform to access files, work remotely and collaborate.
Encounter the value program challenge
But, Engyte was facing issues while communicating the value of its platform to its customers, both internal and external. Using spreadsheets to scale a value program was making it almost impossible to create and convey a value proposition. There were various reasons, including lack of data collection, version control as well as adoption challenges. Egnyte needed to convert its spreadsheets into interactive tools that could be personalized and tailored to every prospect and client engagement. Hence, the company reached out to Mediafly to tackle this challenge.
“Mediafly has a long history of success in helping value teams scale effectively,” explained Aaron Froberg, Senior Director of Value Acceleration, Egnyte. He continued, “They shared success stories from other clients such as Okta and Splunk that we found particularly compelling.”
Dealing with implementation challenges
While integrating value acceleration was a challenge in itself, another challenge was helping the team to understand the importance of tools. “Educating sales teams on how to leverage the tools is always an initial challenge. Fortunately, the Mediafly UX and storyboard make the tools very sales rep-centric and easy to use with confidence once they get started,” said Dan Sixsmith, SVP of Value Enablement, Mediafly
We tested the initial tool with a small subset of value engineers and account executives to get their initial feedback and continually upgrade the toolkit,” said Dan Sixsmith, “we supported the teams at Egnyte with training around when and how to best leverage the tools. We have a vast client base with high adoption and success rates, so we also always share best practices from other companies and users.”
Increasing the Win Rate
After the implementation of Mediafly’s ValueStory tools, Engyte substantially increased the win rate. “Using Mediafly’s ValueStory tools, we can communicate and quantify our value to customers, differentiating ourselves from our competitors,” said Aaron Froberg. He added, “Our sellers develop a value mindset by implementing a lifecycle model as the center point of our sales process, walking prospects through the challenges associated with each stage. We started connecting every part of the customer journey – product features, conversations, demos, and proposals to our prospects’ business outcomes. The results were instant – our win rates more than doubled from 30% to 66%.”