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Measuring the ROI of your Sales Tools and Technology

Posted on Oct 01, 2020 | 32 min

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About the speaker

Mario Martinez, Jr. is the CEO and Founder of Vengreso.
Mario brings his 20+ years of Enterprise Sales experience, and the pivotal moment in his professional career where he challenged the status quo by asking the question, “What is the ROI on the sales tools that we are spending $1 million a year to use?” In this interview, he openly shares the methods that he used to achieve Executive sponsorship of the changes that needed to take place. We also discuss measuring the ROI of your sales tools and technology.

Tools and Technology Audit

• Companies may implement so many different tools and technologies over the year, but not keep track of how much money all of these are costing. After time, some resources may not be used but are still being paid for.

Sales Training versus Product Training

• Teaching sellers where and how to click is product training, not sales training. Sales training actually focuses on the skill of being able to understand how to create that engagement with your buyer. 

How to Determine the ROI of Sales Tools and Technology

• Some may be resistant to change for fear that sales teams will be upset. However, measuring the ROI allows leadership to determine what tools are most important and which can streamline the process in order to increase efficiency and productivity.
• Include a required field in the pipeline to indicate which tool was used to open an opportunity, as well as one to identify which was used to close the same opportunity. This empowers sales personnel to tell leadership which sales tools should be kept and which should be cut.
• After implementing these required fields, sales leadership can see that sales reps attribute certain tools to the sales pipeline. Reps were surveyed and leadership found out that sales reps were unhappy with the product and had stopped using it.

Becoming an Agent of Change for ROI Measurement

• Asking the hard questions is how the answers are found. Determine what is being used to open and close pipelines, and what isn’t.
• Bring attention to the money being spent on technology that cannot be attributed to any sales opportunities.
• Show how that money can be reinvested into useful tools and technology that can make the sales team more efficient and productive.

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