How can you effectively use Enterprise Software ROI calculators in sales?

Focus on key metrics: Highlight key metrics that are important to the client, such as cost savings, productivity gains, or revenue growth. Demonstrate how the software can impact these metrics positively. Include a comparison feature: Provide a comparison feature that shows the difference in ROI between using the software and not using it. This can help the client visualize the value of the software tangibly. Provide supporting documentation: Back up the ROI calculator with case studies, testimonials, and references from existing clients who have realized significant ROI from using the software. This can help build credibility and trust with the potential client.

Create a customer facing calculator which clients can use to create an ROI strategy within a business case. In this era of disruption, without a solid ROI, approvals are at risk.

-Understand the Customer's Needs -Customize the Calculator -Focus on Key Metrics -Use Realistic Assumptions -Provide a Clear ROI Summary -Compare Scenarios -Offer Support and Guidance -Follow Up

Don't get caught in the 'Soft Benefits' trap. Whilst your solution might deliver some incredible 'quality of life' or 'ease of use' benefits, these soft benefits are often treated with some scepticism at the point of financial appraisal. Make sure you follow through with your value discovery questions.

Simplest way to calculate meaningful investment appraisal is to perform the task 'with' the customer, not 'for' the customer.

The most successful sales people I know are master story tellers. They engage and educate while captivating their audience. Let's admit it, ROI calculators can be super fun! (or is it just me?) When configured correctly, they can chart a course by identifying the best strategies, and defining optimal inputs. There is ample room for storytelling here, both on a personal and professional front. Metrics are valuable, but nothing compares to visualizing what is possible and being able to forge a clear path towards the desired outcome.

One lesson I've learned is to ask early in the sales cycle what methods or tools the customer uses to calculate ROI. If the customer already has a standard process and tools, embrace it and build it into your sales effort. Sales people need to align to how the customer calculates their investment returns, not just fill out a calculator.

One or two things I found important about ROIs. First, it’s a good idea to try an early ROI exercise as part of the qualification process, this way it possible to avoid unnecessary effort on further evaluations. Second, make sure the ROI figures are validated by your champion and relevant stakeholders, this way is possible to have a more solid position in front of the decision makers, and during the final negotiation.

Establish a clear understanding of ROI factors from the outset. Relying on hypothetical ROI benefits can lead to skepticism, prompt objections, and undermine credibility. Dedicate effort to secure early consensus on the specific metrics to be evaluated. Utilize authentic data and tangible cost factors to construct a validated ROI model. This approach not only fortifies the proposal's credibility but also streamlines the decision-making process by aligning expectations and outcomes from the beginning

To gauge the ROI of a software package, one must first comprehend the software's essence. Business software essentially encapsulates best practices, compelling the end-user and the company to adopt optimal business methods, whether in retail, manufacturing, or distribution. By pinpointing these best practices within the software, you can identify inefficient practices that are eating into the company's profits. This enables you to conduct a cost-benefit analysis, weighing the benefits of implementing best practices across the enterprise against the cost of the software. The payback period should be less than 24 months for the entire enterprise model. Some software packages offer immediate benefits, leading to a payback in just a few days.