How to accurately estimate the external cost of sales activation
Every penny should be counted and justified when you try to make it Successful Sales Activation Business Case. Exceeding the budget means borrowing from other businesses and departments. Or, worse, dig into your profit margin to ensure your employees get the resources they need. If you are hiring an e-learning content provider for the first time, how do you know what costs should be included in your external service budget? Even if you have experience with vendors, there is still the risk of overspending. Therefore, here are the top 7 tips for developing a realistic sales active outreach budget and expanding existing resources.
1. Take stock of internal assets
The secret to reducing costs is to reduce waste and maximize existing assets. Take a closer look at your current resource library to avoid redundancies and identify reusable content. For example, you can recreate that COI compliance course by breaking it down into JIT modules, thus reducing cognitive overload. Admittedly, you may want to invest in a fast e-learning authoring tool to provide a good polish and incorporate new online training materials. By taking stock of internal assets you can extend your sales by reducing the scope of the active outsourcing budget. Thanks to Domestic Uprisings you will not need to hire their services for as many activities as you thought.
2. Evaluate your online training needs and objectives
Another way to reduce external service costs is to explain your online training objectives. This allows you to determine if they are still aligned with your online training needs. The seller will provide you genuine articles as he does not want to tarnish his own image. Since you have already filled those performance and skill gaps, you can go beyond the online training objectives list, thereby further lengthening your outsourcing budget.
3. Make a list of essential solutions
Identify what should be in your sales activation budget and then distinguish between homework and outsourced solutions. For example, for a real-world experience you need JIT product knowledge representations and customer personality simulations. Does your team have the skills and tools needed to get rid of it? Or do you need to outsource these tasks to your e-learning content provider to allocate time and resources? Compiling a list of essential solutions allows you to find the best external service provider for the task based on their service menu.
4. Develop an implementation time frame
Time is wealth. Thus, you need to create an activation time frame to find out how much time you need and calculate the payroll for your L&D team. The timeline also allows you to break down the process into manageable tasks, tools and risks to develop a realistic budget. For example, it may take a week to set up an LMS and endure the learning curve. What are the possible problems? How can you minimize them? How much extra money do you have to spend on troubleshooting and troubleshooting?
5. Estimate the price points of an online catalog
A trusted online directory displays the top externalization partners in your industry. With the help of user reviews you can estimate their price points and value for money. What is the overall satisfaction score and are they likely to recommend this company? What are their specializations and do these Align with your sales activation requirements? Of course, this is a starting point so you should look deeply into their pricing options, payment terms, etc. However, the directory gives you the opportunity to cross candidates that do not exceed your price range or provide the right solutions. Off the list.
6. Ask for privatized prices
You never know how much you will spend until you reach out to vendors for a personalized quote. Enter as much information as possible to get an accurate estimate. Use the information to recalculate your budget and rethink your outreach scope. For example, it may be cheaper to develop certain resources at home as opposed to hiring an outsourced partner. Similarly, you will find that outsourcing is more budget friendly because of the cost of tools, content calculation, and so on. Now is a good time to evaluate their portfolio to see what your money can buy.
7. Arrange a meeting to identify hidden fees
Schedule a meeting with an e-learning content provider to discuss your sales activation training needs and expectations. The primary goal is to ensure that they are a good fit for your organization. That they have the required special expertise and sales operation experience. However, it also gives you the opportunity to uncover hidden fees and fine-tune your sales training budget. Do they cover amendments? Or is it an extra charge? Does the estimate include e-learning authoring tools? Who hosts the content? Ask for a list of everything that is part of the package. Then go back to your original budget and compare. Is there something you overlooked that goes beyond your spending limit? Can you negotiate a better price with the seller by entering into multiple solution agreements?
If you are not lucky enough to have endless L&D resources, you need the right sales active exposure budget to identify your spending limits as well as make the most of existing assets and achieve your online training goals without going red. The most crucial accounting element is to explain the seller and reveal the cost of open communication, hidden fees or tools you have overlooked. Therefore, it is always worth meeting one by one with the seller to discuss the nuances of your agreement before making long-term commitments.
If you want to know more about implementing successful sales operation training, download our e-book Skills, Support and Confidence: Launch a Successful Sales Activation Training Strategy Today. You will find all the information you need to train your sales team, giving them the expertise and confidence they need to make their operations skyrocket and provide a unique customer experience.