Ever since I’ve been in sales, it has always been the Holy Grail, how can we increase sales and reduce cost.
The Management Consultancies have come up with a way around this, efficiency. How do we get more for less? The deal is something like this; You turnover a Billion, we strip out 200 Million in cost, you give 100 Million to the management consultancy and you keep 100 Million. That said, anybody who turned in an additional 100 Million in profit would be seen as a hero!
The problem with this is that your turnover is still static at 1 Billion.
What About a Real ROI?
Adam my co-founder, the DLA team and myself know that without an ROI clients don’t come back for more and don’t refer us on. ROI for clients is therefore central for us and in the last two years, I’m pleased to say all of our clients have gained an ROI.
- Client that made 150% uplift in 2 months.
- SAP that are public saying that have created €1 Billion in pipeline
- Salesperson that got a $1 Million deal at only our second session.Anybody that tells you social selling takes a long time, does not what they are talking about!
- Meetings with CEOs of companies through using social.
- Sale of two $300,000 all terrain vehicles and $1.4 Million of pipeline through one of our North American reseller clients.
Social Selling, digital selling, call it what you want, is enabling clients to get incremental revenue. Just think about it, while you can work to be more efficient, here are people that are making more money and taking market share from clients.
If we take the example above of the Client that made 150% uplift in 2 months, if we rolled that out across the business it would have generated €8 Billion of revenue. That’s B as in Billion. Even if we were able to generate a tenth of that, that is still a lot of money.
How can you be Sure of the Output?
Good question. Having been part of a large scale sales transformation before setting up Digital Leadership Associates I found out what worked and what didn’t work (webinars, assuming people will do this, not empowering people, being reliant on people that the sales people didn’t respect to train etc don’t work).
What does work is having a clear process and methodology, one that can roll out with consistency across the business and at scale world-wide if needed through our network of resellers. This means our clients in Canada, Germany, Mexico, wherever, can be sure of output.
Where Are the Cost Savings?
With this incremental revenue increase, Social Selling after the initial pilot is self financing. For example, a client gave us the fees for the social selling training and we gave them over $1 Million back. This, will release funds for further $1 Millions that the client can generate.
We are also seeing a reduction in Marketing budgets (or a transfer to Social) as the need for paid media reduces.
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