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Hard-dollar ROI.

It sounds like circular logic:

You don’t know what meetings are costing you until you know what meetings are costing you.

ROI

The “homework” to find authoritative data is exhausting — and often misleading — so feel free to “cheat” on your own homework by taking advantage of ours, including:

Data published by otter.ai on the personnel who populate online meetings (no line workers, no admins, all managers and above) shows that the higher the manager’s role (ergo, the higher the salary), the more meetings they attend and the more time per week spent in meetings.

Data from statista.com shows US management salaries at a median $116,880 per year. Data from the US Social Security Administration shows the median level is 67% of the average level. That places the average salary for the most likely online meeting participants at $174, 448.

Data from Notta.ai places the time spent in meetings at 33%. Together, this places the payroll cost of meetings at $57,568 per participant per year.

For the sake of simplicity — and, yes, we know better — let’s assume that a “magic wand” restores everybody’s work/life balance and that these executive salaries represent five 9-to-5 workdays per week. And let’s assume that minutes spent in meetings are a committed payroll pit with a reduced expectation of productivity. Now, follow the math.
 

The average management salary of $174,448 per year is $3,354.77 per week — $83.87 per hour — $1.40 per minute.

 

For the managers through top executives who spend 33% of their time participating in online meetings, on average, $57,567.84 of their annual pay – $1,151.36 per work week (assuming 2 weeks off per year) is spent on their time in online meetings.

There’s the investment – where’s the return?

The premise and design center of Beam4K Pro 24 — and especially its software — is that we can help online meetings be more productive in 20 minutes than today’s typical 30-minute meetings, and similarly, meet 60-minute meetings’ goals in 40 minutes. Overall, this results in a 1/3 reduction in the time spent in meetings.

That’s a $383.79 per week reduction in payroll costs for online meetings that run 50% longer than needed to convey purposeful content, on average.  $19,189.28 per year.

OK. So, based on our full list price ($20,000), it takes us 54 weeks to pay our way – given our 5-year warranty, if we don’t keep working any longer than that, we’ll only be able to deliver a 480% ROI in that time.

Should we mention our 5-year warranty? Should we mention that you can decide on CapEx versus OpEx by leasing? (At full price, a 5-year lease with a $1 buy-out at current rates is about $400/month).

Or should we point out that our LEAP program can reduce your pricing and thereby multiply that ROI?