We’ve all said it: “I need more time.” The truth is, Thomas Edison, Michael Phelps, Leonardo DaVinci, and Oprah Winfrey have all shared the same 24 hour limitation we experience, and yet excelled. The problem isn’t time itself…it’s what you’re doing with it. The same goes for your sales reps.
In this last and final installment of our 3-part sales enablement series, we’re going to look at the revenue impact of giving sales reps the ability to use their time better.
So, given the information we’ve calculated up to this point in this 3-part series: calculating the cost of not having a sales enablement solution versus the impact it has if you do have one, let’s take it one step further.
Remember that research says the average sales rep only actually spends about 35% of their time actively selling. So let’s do a quick calculation and determine the impact a sales enablement solution could have if it gave them more time back to sell. For this example, we’re going to use 10% more time.
So, if you take 10% of the total available selling hours, and then multiply that by your $580 (again, assuming $1M revenue per rep)…it means your average rep could be generating $100,000 more revenue per year! But, if you extrapolate that across let’s say a 50 person sales team sales team (i.e. if you could have every salesperson on staff become 10% more efficient…or spend about 1 hour less a day “searching for stuff” by using a sales enablement tool), the company could be generating an additional $5 million a year! In that case, the tool would pay for itself in just the first few days!
You tell me which is the better deal…losing 600 hours and $650K in potential revenue a year per rep, or spending $300 and potentially gaining an extra $100K per rep?
It doesn’t take a math genius to know that answer!
So…I’ve walked you through a bunch of calculations now over the course of this series. I hope you see that they’re fairly easy to adjust based on your own company data. And hopefully it’s clear by now that having a sales enablement tool, like RO Innovation, really is a win-win…not only is it a better option than the status quo in terms of cost and time saved…it is also actually a revenue generator because of what it can do for your sales team’s productivity…which pays for the tool nearly immediately.
But don’t take my word for it. Plug in your own numbers in this Sales Enablement ROI Calculator right now! And if you like what you see, contact RO Innovation to see if our sales enablement solution is the right fit for your company today!