Why a sales information portal can reduce the costs of sales.
A major benefit for undertaking an account, content and sales information portal (SIP) initiative is to reduce the cost of sales. Sales investments should always contribute directly to key corporate sales goals and tied to measurable outcomes. Here a few items to help justify an account, content and SIP project:
- Establish metrics on the number of meetings per marketing initiative, and did it lead to securing a meeting with the right level within the target company?
- After an initial meeting, measure how many salespeople understand and can articulate your prospects business issue. Identify now if subject matter experts are required and inventory what knowledge is required and create, modify and archive.
- Create a vision for the client and establish a procedure to articulate it to prospects. Client’s and prospects will need to understand how your product or service will solve their particular business issue.
- Develop an ROI- the salesperson must be able to have a conversation with the client about his or her business issues and your unique differention. This is where most sales people need the help, in understanding and articulating a clear vision of your business value and unique differentiation
Three steps to control sales support spending:
1. Inventory random acts of sales support
2. Audit spending on sales support across SG&A
3. Discontinue programs that don’t drive sales.
Control sales costs
According to Sirius Decisions, “ Unrelenting expense pressures are forcing sales leaders to rethink the affordability and disposition of all their sales support resources.” The evolution of sales to content marketing provides a sales information portal that allows the sales person to become a subject matter expert. A recent Forrester study cites up to 19% of SG&A expense is tied up in the hidden cost to support sales, the report continues, “Few are aware of this enormous amount because costs are hidden- tucked away in many different budgets dispersed throughout the organization.”
We realize selling is often a cross functional activity, this initiative will lead to better coordinated resources across SG&A and equip client-facing employees with a process and the necessary tools to meet your sales goals and reduce sales costs.