Investing in sales coaching and readiness software is a strategic move for businesses aiming to improve revenue, productivity, and salesforce effectiveness. However, presenting the value and return on investment (ROI) to your CFO (chief financial officer) can be challenging.

Below, we’ve compiled key performance indicators (KPIs), statistics, and research findings from trusted industry sources to help you demonstrate the value of these solutions and provide guidance on how to effectively discuss these advantages with your CFO.

The economic impact of sales coaching and readiness software

Sales coaching and readiness software equips sales teams with the resources and tools necessary to hone their skills, expand their knowledge, and address customer needs effectively. This translates into better sales conversations, higher close rates and contract values, and improved customer satisfaction.

To present the economic value of sales coaching and readiness software to your CFO, focus on these key areas:

  • Increase revenue
    The Sales Management Association found that companies who effectively coach their salespeople report 15% higher revenue achievement than those who don’t, noting “few activities are considered as important as sales coaching” to a sales organization's overall success and revenue growth.
  • Improve sales rep productivity
    Research shared by Training Industry shows that “training and coaching can lead to an 88% increase in productivity versus 23% from training alone.” More productive sales reps means more time engaging with clients and prospects, leading to more opportunities and sales. Read Sales productivity: Taking back seller time to win more opportunities for more data.
  • Decrease employee turnover
    Up to 60% of sales reps say they’re more likely to leave their job if their manager is a poor coach (source). By reducing seller turnover, you avoid a sales capacity gap and save your company the time, effort, and costs required to constantly recruit, hire, and train new sales reps.

Measuring the ROI of sales coaching and readiness solutions

To demonstrate the ROI of these solutions, consider the following KPIs and statistics:

  • Cost savings
    Calculate the cost savings resulting from enhanced sales rep efficiency, decreased employee turnover, and streamlined training processes. Gitnux reports that sales training reaps a staggering 353% ROI for the average company — and we’ve seen similar results from our customers.
  • Revenue growth
    Analyze the increase in revenue attributable to sales coaching and readiness software. According to RAIN Group data, successful sales coaching programs can increase average deal size, sales activity, win rates, and new leads by 25-40%.
  • Time-to-value
    Assess the average time it currently takes reps at your company to meaningfully contribute to revenue, or time-to-competency, and compare that to projected ramp time once you have a readiness and coaching program in place. Data consistently shows that companies with a formal onboarding process see ramp-up times decrease, with some reports showing as much as a 34% faster ramp time to role proficiency.

Presenting the value to your CFO

Now how do you package all this data and present your case to your CFO? Consider the following tips:

  • Tailor your presentation
    Understand your CFO's priorities and concerns and tailor your presentation to address them. Emphasize the aspects of the software that will have the most significant impact on the company's financial performance.
  • Provide real-life examples
    Share success stories, case studies, and research findings from reputable sources like Forrester, Gartner, and current readiness software users from your own industry. This will help your CFO envision the potential positive outcomes for your own company.
  • Offer a detailed cost-benefit analysis
    Present a thorough cost-benefit analysis, including the expected ROI and the time-to-value. This will help your CFO make an informed decision on the investment.

At the end of the day, your CFO wants to ensure the financial health of your organization. By focusing on the key benefits of sales coaching and readiness software and showcasing data-driven evidence from industry leaders, you can persuade your CFO to invest in these critical tools. Doing so will help your organization stay ahead of the curve, empower your sales team to drive revenue growth, improve productivity, and enhance customer satisfaction in the long run.

Need more help making your case? Our team will work with you to build a business case for sales coaching software tailored to your organization. Contact us here.