How Distributors Improve Customer Retention A common rule of thumb in distribution is that it…
The ROI of Self-Serve Sales Data
SMP’s self-serve data visualization can save your sales reps several hours per week and at the same time, make them more effective in the rest of their work time. This simple and affordable solution can make a large impact on your bottom line from increased productivity.
Empowering Your Sales Force with Self-Serve Data
Sales and marketing employees are among your highest paid resources. Sales and marketing is also one of the largest components of your operating expenses. In fact, many distributors devote 50% or more of their operating budget to sales and marketing employees and activities. Additionally, these employees are the ones most responsible for generating new income for your company.
Unfortunately, many of your sales reps may be wasting their valuable time on manual reporting and analysis. The hours add up quickly in these efforts as they often struggle just to get to the right data, then get it into a spreadsheet, not to mention try to make that mass of data make sense in a presentation slide deck. A self-serve analytics solution like SMP can save all of this time.
Fast Return on Investment
Let’s take a quick look at just the time savings self-serve data visualization could have for your sales team using the following assumptions:
- Average sales rep loaded cost per year: $100,000 ($50/hour)
- Time spent per week on analysis: 3 hours
- Finding data, writing reports: 1.5 hours
- Analyzing in Excel: 1 hour
- Creating data charts for PowerPoint: 0.5 hour
- Cost of time spent on analysis: $150 per rep per week, $7,500 per year
That’s $7,500 of wasted time per rep per year. But more importantly, there are 150 hours per year the rep can get back to be more effective for your company. In the most simple terms, imagine a rep that has 150 more productive hours per year. How many more customers could they meet with in that time? That could literally represent hundreds of thousands of dollars in top-line growth, not to mention other valuable, revenue-generating activities like:
- More sales meetings
- Improved up-selling and cross-selling
- More net new customers
- Better price and margin analysis and performance
- Improved profit per customer and per order
- Optimized discount analysis
- Smarter customer support
- Faster pipeline reporting
If you would like to schedule a private one-on-one discussion to see how SMP can give your sales reps 150 more hours per year and improve sales performance across the board, please contact us to schedule a meeting.