The real cost of sales includes more than just paying salary to your sales reps and marketing team. Let’s dive a little deeper into what the real cost of sales actually are, how sales enablement tools can function as a sales and marketing ROI calculator, and how to maximize your sales ROI!
Sales & Marketing Costs
Sales reps are always in demand. Actually let me clarify, top sales reps with critical skills are always in demand. They are the driving force and face of your company. Sales reps are the first face-to-face interaction that most of your prospective customers will have with your company. Simply put, their job is to take the prospective customer through the buying process and close the deal.
The cost of a sales rep is probably more than you think. Besides the given costs like salary, commissions, and benefits, you have to take into account indirect costs like staff time needed for paperwork, resume reviews, interviews, new hire training, and onboarding. Let’s not forget about vacation accrual, job advertising, travel expenses, and recruiting fees. All of these add up to be quite expensive.
Just like sales reps, the marketing team is costing you more than just paying their salary. They have indirect costs just like those mentioned above. The priority of your marketing team is to create sales and marketing collateral that will help aid your sales reps in closing deals.
So if your sales and marketing teams are costing you this much, it’s important to know what your sales ROI is. You want to make sure they aren’t wasting their time and your money. Are your sales reps able to close deals? Is the content that your marketing team is creating helping the sales team? What content is being viewed and shared? All of these questions (and many others) are questions you face when you try to evaluate how your sales and marketing teams are performing. Especially since it’s your time and money that you’re investing.
That’s where sales enablement tools can help you track your sales and marketing ROI.
Measuring Your ROI With Sales Enablement Tools
A sales enablement tool gives you valuable insights into how your sales and marketing teams are performing. As you incorporate sales enablement tools into your sales strategy you can streamline your employee onboarding processes, provide your reps with optimized content, and give marketing the analytics they need to create even more powerful content. Whether they are apart of sales or marketing, SoloFire gives insights into where they should invest their valuable time.
Employee Onboarding & Training:
With SoloFire, you can streamline your onboarding and sales training programs by housing all the collateral within your sales enablement tool, saving you time and money. As you upload training content you know employees are receiving the necessary training they need to understand your company’s processes and products. You can see what employees have viewed the training content, and which ones haven’t. This helps reduce the time and resources needed to efficiently train new hires. With an effective training program set in place, you help them become successful!
By using a sales enablement tool, your reps are always prepared with high-quality content. With all the content in a single location, your reps can share and present content anywhere they go and on their favorite device. Your sales reps are equipped with the necessary tools and content so that they can go into their presentation prepared and confident. They are no longer wasting their time trying to find the right piece of content or going rogue, creating their own. Now they can spend even more time with the prospective customer. With these insights, you can measure how your reps are performing, what content they are sharing, and you can provide valuable feedback when needed.
On the other hand, when marketing uses a sales enablement tool, they know what content to create for reps. No longer will they be sitting there, hoping their content is getting used, they will already know! Once the content is created and shared they can view the analytics to see how effective it is. They can see what content is being used the most by sales rep and what isn’t doing as well. By having these metrics they can take it back with them to create even more effective content for the reps. A sales enablement tool allows you to measure what content is successful in helping closing deals.
Maximize Your Sales ROI
As you can see the cost of sales includes a lot and can get quite pricey. So why wouldn’t you want something that helps you measure and maximize your ROI? With SoloFire, that big question mark on your ROI is no longer there. SoloFire is a custom sales enablement tool that lets you know what content closes deals and how your sales reps are performing!
SoloFire can serve as your sales ROI calculator! Contact us today for a demo!