We have to stop looking at a cost of technology as just a number.
I gave a recommendation to a client to look into LinkedIn Sales Nav to help better organize their lead lists and enhance the nurturing experience of those leads.
I walked them through it and showed them how. They loved it. And then the next day, this was the message sent to me:
"We went to purchase Sales Nav and the cost is around $1k per person per year. That means we'd be spending an additional $5k per year on this technology and I'm not sure it's worth the cost. Is this absolutely needed?"
This client does XX million in revenue a year. They have 5 SDRs to help with that number. Over 95% of their revenue is from inbound and they want to try outbound.
One Closed Won opportunity averages around $45k in revenue.
$5k a year doesn't seem so bad if it can help close 1 additional opportunity.
We have to rework our thinking about the cost of technology as a lost cost but rather a product of ROI and the opportunity to increase opportunities to close new business and upsell to existing ones.
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