By Sid Chadwick, Chadwick Consulting
“What ROI should I expect on this project investment..?”….President, Client
Indications were that her company was ready for the next stage of development.
She was moving her company forward with the continued development of her Inside Sales Team, successfully. (Her 1st Inside Sales Rep was already up to $600,000- in revenues per year, after less than two years. And her recently hired 2nd Inside Sales Rep --- was already moving forward.)
Her Director of Business Development was on record, saying, “I’d only develop Inside Sales Reps……. if I had my choice.”
But her Inside Sales Team --- was not what her ROI question was about.
“I don’t really know how to answer your question…. I’m proposing that you invest between $7,000 and $8,000 in our Customer Survey Process, which requires about 90 – 120 days….with a guarantee…. of well over $300,000 in new, repeat business --- from current customers…at “current customer” margins.
How would you calculate that ROI…?”
Of course, we learn much, much more --- in addition to --- what else your customers would like to buy…..that they didn’t know you could supply…...
What’s it worth to learn which of your customers are only awarding you 11% of their business…?
What’s it worth to learn which three of your top 10 customers are willing to tell you that you aren’t very important to them….?
What’s it worth to learn which two of your customers carry grudges over previous disputes, which explains why you don’t receive much business from them recently (and there’s always intense pricing pressures)….?
What’s it worth to learn which customers want to see your Sales Rep more often….if…..he/she improves the value of their Sales Calls….?
What’s it worth to learn which seven customers want you to take over their “Storage & Fulfillment”……? (Really…? Yes… really….!)
Of course, there’s much, much, much more to be gained…….If this beginning “Introduction”….. doesn’t get your blood running hot….whatever else I could say wouldn’t be worth your time.
Our economy is expected to run strong….for another ten years….yes…?
“Desire is half of life……indifference is half of death.”…….Kablil Gibran