How To Save $100,000

 
 
Microsoft calculates that over 3 years, its video portal for employee training and knowledge sharing resulted in total costs saved and avoided of about $13.9 million per year. The ROI for the period was estimated at 569%.
— Microsoft

 
 

Take a look at the math

Let's say you have a team of 10 success managers.

And they make (on average) a $70K salary.

Not including lunch or vacation they work 35 hours a week.

50 weeks a year.

That is 1,750 working hours in a year.

$70,000 divided by 1,750 hours = $40.

That means you pay each person $40 an hour

If each person on your team of ten spends one hour a day training their clients that is 50 hours a week.

50 hours X 50 weeks = 2,500 hours.

2,500 hours a year you could spend growing your client relationships. You are basically wasting the efforts of an entire full time person.

2,500 hours X $40 an hour = $100,000.

That means you are spending $100,000 a year minimum doing the same thing over and over again when it could be done with video.

That's a conservative estimate just based off of time spent training.

How much time does your team spend each week scheduling and delivering kickoff calls?

Answering questions that could be handled by sending a simple video link?

If each person spends 2 hours a day doing repetitive work for their clients...

100 hours a week

5,000 hours a year.

$200,000 a year minimum

You would need to hire 3 people to replace that efficiency loss.

What would your team do with an extra 50 hours a week? 100?