ROI Calculators are the Key to Unlocking Sales Potential

ROI Calculator

ROI Calculators are the Key to Unlocking Sales Potential

Today, buyers don’t want to be peppered with fun facts and information about the features of your product. They want to know, first-hand, what benefits they’ll receive once they purchase your product. A.K.A. what will their return on investment be? In recent customer meetings and dialogues, we’re seeing a stronger request for proving ROI through visual means like ROI calculators. Simply telling buyers you could increase your conversion rate by 5% no longer suffices. In this digital age, buyers want tangible proof of their potential ROI.

Here’s where ROI calculators come into play.

ROI Calculator

What are ROI calculators and how do they work?

ROI calculators enable reps to easily determine the potential ROI a buyer can expect to receive after making a purchase. Plus, these calculators work in real-time, meaning sales reps can illustrate value to buyers during sales meetings. It’s a win for the buyer and a win for the sales rep!

An ROI calculator uses the buyer’s specific information to produce the right ROI results. For example, if a buyer is looking for insurance plans, there are certain criteria that would impact their monthly premium, coverage options, and ROI. Thus, these calculations are hyper-specific to the buyer themselves and not just a roundabout number.

See an ROI calculator in action

Take a look at the video below showcasing an ROI calculator that poses the hypothetical question, “What if you could increase your conversion rate by 1%?” This calculator illustrates the value of purchasing Prezentor showing that increasing your conversion rate by 1% with the help of Prezentor will provide you with revenue growth of $75k per month. Pretty cool, huh?

Well, what if the buyer was hoping to increase their conversion rate to 2% or 5%? The calculator is dynamic! In the presentation itself, buyers can interact with the calculator in real-time to visualize different scenarios. And we know that interactive presentations are 25% more effective than static lectures. Thus, with each potential increase in conversion rate, the value of the seller’s service expands.

Amplify the personalization in your buyer and seller interactions with rich data

While ROI calculators are extremely useful in displaying value to buyers, they also provide immense value to the sales rep. Consider this scenario. Buyers need to input their personal information in order for the ROI calculator to spin out accurate results. This personal information is deemed as rich data, pertinent to the sales rep’s sales strategy.

Empowered with this personal data, sales reps can ensure each sales interaction moving forward is hyper-personalized to the buyer. Personalized content keeps the buyer engaged throughout their buying journey, making your sales strategy more effective.

For example, say a buyer is looking for familial life insurance. As they use an ROI calculator during (or even after) a sales meeting, they need to input personal criteria such as their income and overall health. Any data that the buyer provides is visible to the sales rep. With this personal information in the hands of the sales rep, they can tailor their pitch to the buyer to focus on pediatric healthcare, the necessary healthcare coverage requirements for families, and even potential family discounts. By providing the buyer with a personalized sales dialogue, sales reps have an increased likelihood of getting the win.

Increase deal velocity with extremely targeted sales efforts

A commonality between sales reps of any industry is that increasing deal velocity is a primary goal. With ROI calculators, sales reps are able to quicken the sales cycle. This is accomplished by providing the buyer with the most pertinent information they need to make a purchasing decision. By obtaining personal information from the buyer, the sales rep is able to speed up the sales process by providing the most relevant content and useful information to the buyer. This ensures that the buyer has access to sales materials that will resonate with them. Plus, the sales rep doesn’t have to waste time locating and sharing irrelevant information to the buyer on a whim, hoping it will encourage the buyer to take further action.

Lastly, with targeted sales tactics, ROI calculators quickly convince prospects of the value and critical need for a particular product. For instance, say a buyer is on the fence about purchasing. A calculator that showcases their ROI in multiple scenarios is extremely effective at persuading the buyer to make a purchase.

To discover how to build your own ROI calculator, take a look at our blog, ROI Calculator – The Ultimate Selling Tool.

Final thoughts

The truth is, sales reps need to convince buyers of the value their product brings to the table. And they want to be sure they can increase ROI before making their investment. By adding an ROI calculator to sales presentations, sales reps can help buyers make a well-informed purchasing decision to drive sales conversions.

Build your own ROI calculator and give your sales team a tool that helps convince buyers and close deals. Request a demo of Prezentor to get started!

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