Time to Value, or TTV, is one of the most critical yet challenging metrics to wrap your arms around.
Why is Time to Value (TTV) difficult to grasp
For some products/solutions, value is easy to define; for others, it is not.
When your customer buys what you sell, they believe it can solve a problem, overcome a challenge, etc.
Let’s use an example.
You buy a SaaS solution that you believe will increase deal win rates by 5%.
Simple enough, right?
Well, not really. Would value be achieved when win rates increase by 1% even though your expectations were 5%?
The point is simple. The buyer and seller must first agree on the definition of acceptable value for Time to Value (TTV) to occur.
And, what if a 5% bump in win rate occurred due to the CRO making a process change?
And, in a SaaS environment, you have time built into onboarding the customer and configuring the software — all of which delays the time to value realization.
Why do we care about this measurement?
Unless the customer achieves the value for which they bought your solution, they will not renew or continue to use your products.
Unless you are a trusted provider who has delivered value before, they will not buy more from you.
How can you decrease Time to Value (TTV)?
Our goal is to ensure every customer archives, recognizes, and connects your solution to value as quickly as possible.
Here are a few ideas to decrease your Time to Value:
- Lockdown the definition of value during the sales process. Waiting until after the customer buys only delays this measurement.
- Have a customer success team in place to streamline onboarding and setup.
- Streamline the sales to customer success hand-off. Ensure your CS team knows what is expected, promised, and other critical details to avoid delaying value realization.
- Use Quarterly Business Reviews (or the equivalent) to measure how you are doing against the value targets, make adjustments as necessary, and hit those targets.
- Provide tips, best practices, and similar guides to the customer to educate and arm them to maximize the likelihood of success with your products.
Review our Glossary for additional key terms and metrics.
Living Enablement as a practitioner and as a leader. I’ve seen the confusion and frustration that many practitioners live. From working in other areas of the business, I’ve also seen the genuine need for the capabilities that enablement provides.