Adding an extra item to every fifth order can drastically increase your profits. With access…
The Biggest No-Brainer in Sales: Analytics
Research shows that manual data processes can cost up to $500 per month per sales rep, not to mention the cost of missed sales opportunities. Finding the time to make just one more call per week can add $8,000 to $16,000 per month of increased sales per sales rep.
What could your sales reps accomplish with just a few more hours in every work week? What if you had just a little more time to do the most important tasks in your sales queue? Getting $500 back per rep per month and adding more focus to their current sales efforts makes SMP’s self-serve analytics the biggest no-brainer in your 2020 sales plan.
In the world of distribution sales, giving your sales reps a few more hours each week could have an enormous impact on their productivity. Sales productivity translates directly to a bigger bottom line. SMP’s easy-to-use self-serve sales analytics are the fastest way to give that time back to your sales reps.
Your sales reps are among your highest compensated team members. They also carry the responsibility of driving revenue growth for your company. Why would you let some of your most important, best-paid workers waste time on manual reporting and analytics? Or worse, why would you send them into the field without the data they need to close more deals and beat out your competition?
If your sales reps aren’t using self-serve analytics and distribution CRM, they are spending too much time on manual processes and data administration. How much time are they spending twisting data in spreadsheets and building slide decks that demonstrate customer value?
For the example below, let’s just consider timesaving as part of the return on investment of sales analytics. For simplicity, let’s assume you have a single sales rep with a loaded cost (base salary, commission, bonuses, insurance, payroll expense, etc.) of $100,000 per year. In a work year of approximately 2,000 hours, your organization is investing $50 per hour into that rep. Let’s break down what the time spent on manual reporting and pulling data is costing you for that one rep.
- Base salary: $60,000
- Bonuses and commissions: $30,000
- Payroll taxes, insurance and overhead: $10,000
- Total cost: $100,000
- Average time spent reporting per week: 3 Hours
- Rep loaded cost per hour: $50
- Weekly cost of manual data reporting and analysis: $150
- Annual cost of manual data reporting and analysis: $7,500
- Estimated time reduction from SMP’s analytics: 75%
- Total annual savings per rep: $5,625
That means that manual processes around data and reporting are costing your organization almost $500 per month per rep. But the ROI doesn’t stop with just replacing manual processes. If your rep is working a $2MM – $4MM territory, averaging 4 calls per day, the time savings will allow one extra sales call per week which can generate $8,000 – $16,000 in increased sales per month.
We’d love to talk to you more about how SMP can become the biggest no-brainer for your sales plan in 2020. Please schedule a free consultation today.