Salesforce recently polled more than 500 customers about the benefits of Lightning, the company’s next generation platform, and discovered that users are seeing increased ROI across a number of key metrics. Here’s a rundown of their findings.
ROI Stat #1: 41% Increase in Productivity
“Companies with successful sales organizations know that productivity is about being both efficient and effective. And they recognize that sales enablement technology can help take them to the next level.” - Kasia Moreno, Forbes
According to the Harvard Business Review, U.S. government data suggests overall labor productivity has only grown 1-2% per year during the tech boom. So achieving a greater than 40% boost in productivity? That’s absolutely massive. At the same time, it’s not necessarily surprising. Per Staples, 3 in 4 workers say their employers don’t give them access to the latest technology to do their job efficiently. The takeaway? Employees believe the right technology solution can make them more productive — and the data backs that up.
ROI Stat #2: 21% Increase in Win Rates
“If [your] win rate is dropping… something is probably wrong with your process, team, and/or lead generation efforts." - Aja Frost, HubSpot
Is there a more important metric for a sales team? Okay, sure, there are lots of important metrics a sales team should be tracking. But in terms of measuring pure success, your win rate is pretty useful — and an area ripe for improvement. According to a survey of nearly 500 sellers and sales executives, the average company’s win rate is only 47%. A 21% boost could push your team squarely into winning-more-often-than-not territory.
ROI Stat #3: 23% Faster Time to Close
“Shortening the sales cycle can lead to explosive growth." - Adam Heitzman, Inc.
This is another crucial sales KPI: The faster your reps are closing deals, the more deals they can close. And having the right technology in place is a key factor: 60% of sales organizations report a longer sales cycle due to a lack of proper tools.
ROI Stat #4: 40% Increase in Collaboration
“It’s no secret that technology is obviously one of the biggest driving factors that is enabling collaboration today.” - Jacob Morgan, Huffington Post
Organizations that are able to effectively foster and encourage collaboration are likely to see some very positive results. Think about it: When one employee has access to the accumulated knowledge of their peers, they become much more capable of engineering innovative solutions for key problems.
ROI Stat #5: 44% Increase in Conversion Rates
“No matter how good your current conversion rates are, they can always get better. And improving your conversion rates dramatically improves profits.” - Dave Lavinsky, Forbes
Increasing your conversion rates throughout the sales funnel is essential to ultimately winning opportunities. It’s a numbers game, right? The more prospects you can convert into leads at the start, the better your bottom line will be. That’s why it’s so worth striving to always do better (and why only about 22% of businesses are satisfied with their conversion rates).
Are you ready to learn more about Lightning? Check out our on-demand webinar.