Sales managers are being handicapped in their decision to invest in sales systems, sales training, or other sales initiatives by the lack of information regarding the ROI or payback that will result. SellerNAV® helps managers to overcome this challenge.
Isn’t It Ironic?
More salespeople are being encouraged to present their customers with an ROI or payback. That is ironic given that they themselves are rarely provided with such information in respect of the sales systems, sales skills or other initiatives on which they must embark.
The New Popularity Of The ROI
An ROI or payback is a powerful sales tool. If used properly it can present a compelling justification for the customer to buy and makes it more powerful than any of the more traditional benefit statements or marketing messages. But if buyers need to see the numbers before they will commit, aren’t sales people entitled to the same?
As a salesperson if you want me to use a new sales system then don’t just tell me that I have to do it. Show me how it will help me in terms of increased sales and commissions.
Now SellerNAV® helps managers calculate the payback on investments in sales training development, systems or process improvements.
Why Commit If The Payback Is Not Clear?
The lack of a payback or business case for investing in sales initiatives be that people, process or technology realted is a problem. Here are just some of the reasons why:
1. Poor Decisions Are Being Made
The decision regarding where scare time and other business resources are invested within sales should meet the same standard as decisions in any other area of the business. That is to say there should be a clear economic justification – one that can be calculated in a spreadsheet.
2. Sales teams are not getting the resources they need
In a time when money is tight, the lack of a clear justification for the decision can result in ‘no decision’. It can prevent sales teams getting the resources that they need, but that their managers fail to adequately justify in numbers.
3. It results in low levels of up-take
It means that salespeople are being asked to commit to something without a clear and compelling justification. That is no doubt a factor why adoption rates for new systems or strategies struggle.
4. It means that tracking the results achieved is made difficult, if not possible.
How can you tell if an investment in a new sales system or other sales initiative has paid off, if you have no baseline figure to measure against? If there were problems forecasting the impact then there are going to be problems in measuring the results achieved too.
The above are 4 good reasons to use SellerNAV®. However, there is another:
Calculating The Opportunity Cost
In addition to being able to calculate the impact of investments in sales systems, sales process, or sales skills improvements, SellerNAV® helps organizations to calculate the cost of of ‘doing nothing’. That is the opportunity cost in terms of lost sales as a result of not taking action to remove sales bottlenecks, or tackle gaps in process or skills.