If iPad apps were trying to qualify for the Indianapolis 500 this May, they would take pole position.
Speed matters when it comes to sales, and reps in the field can’t afford to lose any precious time.
When it comes to iPad apps field sales success, the speed at which they are able to find collateral and send it to clients is blistering. That blistering speed matters.
The speed at which a rep sifts through papers and boxes to find the right collateral resembles paint drying in the shade.
If you take away the weekends, holidays, personal and vacation days, there’s just 215 days in any given calendar year for reps to fulfill their duty of developing business opportunities and closing them. For this demonstration in speed, consider 215 days our ‘value’ of time.
How much do your reps earn each minute? That could be a loaded question, but simple to calculate.
215 days X 480 (# of minutes in an 8-hour work day) = 103,200 minutes
Now take the revenue your reps generate annually and divide it by the number of minutes worked.
$1,000,000 / 103,200 = an average of $9.70 per minute
Knowing how much your reps earn each minute, how much revenue growth does time represent?
If the use of iPad apps saves your reps 30 minutes of time each selling day—time spent on other more productive tasks—you’re able to free up 6,450 minutes per year (30 X 215) per rep. Now multiply the total saved minutes, by your average revenue per minute calculated above.
6,450 X $9.70 = $62,565
You’ve got your sales capacity, and your average revenue per minute. Now you can determine the value of every minute of the day. Pretty cool, right?
For this demonstration, 30 minutes of time each day is valued at nearly $63,000 in revenue over 12 months. You still have to multiply that figure by the number of reps in your organization to arrive at the total impact the adoption of iPad apps could have on your revenue.
If you have 20 reps, your potential revenue impact is a staggering $1,290,000.
I’ll let you find a paper bag to breathe into and gather yourself here for a second…
Clearly from the demonstration above, the iPad can be your race car that allows your reps to lap the competition. Maximize iPad apps field sales revenue growth far beyond what’s possible with a laptop or, forgive me, boxes of old fashion collateral.
Think through how much time is lost by continuing to use a laptop or shipping paper collateral instead of an iPad for the following activities:
• Launching presentations
• Accessing client records
• Logging calls in CRM
• Looking up key pricing and catalog data
• Following up with information requests
• Compiling and sending sales call follow-up materials
Imagine if your reps spend 20 hours per year trying to find the right collateral to send.
20 X 60 = 1,200 minutes
1,200 X 20 reps X $62,565 = $1,501,560,000
Yeah, that’s over $1.5 billion in lost revenue. Think you can afford to lose that time?
Speed really does matter when it comes to sales. Now you know what it costs to lose precious time.