Unlocking Growth: The ROI of Sales Training
Sales Training - effective, or an eye roll from your team?
If it's an eye roll, chances are it's some dude delivering training via zoom in a monotone voice. Your team checks out and you check the box that you delivered training...until next time!
This past July I had the privilege of training 300 people IN PERSON (see the proof in the pic). Man did I feel alive on stage - I gave it my all - my energy - connected with the audience and delivered a home run training with actionable steps that individuals could walk away with to see an immediately impact.
Training + Education + Entertainment....now we are talking!
I've sat through hundreds of trainings in my career and most of them are a snooze fest - am I right? The below picture sums it up perfectly.
Tired Sloth Gif by Animal Planet
Ok - let's get into it...
In the ever-evolving landscape of business, the importance of investing in your sales team's development cannot be overstated. As markets shift, customer behaviors change, and competition intensifies, staying ahead of the curve is a perpetual challenge.
Sales training emerges as a powerful tool to equip your team with the skills and knowledge needed to thrive.
The statistics from Southern New Hampshire University and the Sales Management Association speak volumes – sales training can deliver an impressive return on investment (ROI) of up to 353%, and teams that prioritize sales training are a whopping 57% more effective.
The Southern New Hampshire University ROI Findings
Let's start with the eye-opening data from Southern New Hampshire University (SNHU). Their research reveals that investing in sales training can yield an astounding ROI of up to 353%. This means that for every dollar spent on training, organizations can expect to receive a return of $3.53. The impact is not just monetary; it's about empowering your sales force to perform at their peak potential.
The Sales Management Association's Insights
Additionally, the Sales Management Association underscores the value of sales training through their research, which found that teams committed to ongoing training and development are 57% more effective than their counterparts who neglect this critical aspect. This effectiveness manifests in various ways – from increased sales revenue and higher closing rates to enhanced customer relationships and greater overall team productivity.
The Tangible Benefits of Sales Training
- Enhanced Sales Skills: Sales training equips your team with the latest strategies, techniques, and best practices, empowering them to engage effectively with prospects and close deals more efficiently.
- Increased Revenue: A well-trained sales team is better positioned to identify opportunities, understand customer's problems, and convert leads into paying customers, leading to a significant boost in revenue.
- Efficiency and Productivity: Training helps streamline sales processes and improve time management, allowing your team to work more efficiently and productively.
- Adaptability: In rapidly changing markets, adaptability is key. Sales training ensures your team is prepared to pivot and thrive in evolving business environments.
- Competitive Advantage: A well-trained sales force can give you a competitive edge by consistently outperforming rivals.
- Employee Morale: Investing in training sends a clear message that you value your team's growth and development, which can boost morale and motivation.
Time to Invest in Sales Training: The Signs You Can't Ignore
Are your close rates not where you want them to be?
Have you noticed a decline in your sales figures?
Is lead generation struggling, and are your average sales prices dwindling?
If you find yourself nodding to any of these questions, it's a clear signal that it's time to invest in sales training. These challenges can be symptoms of gaps in your sales team's skills and techniques.
By prioritizing training, you empower your team to overcome these obstacles, adapt to changing markets, and propel your sales efforts to new heights.
Choosing the Right Sales Training: Don't Be Fooled By Shiny Objects
A little PS here.
Not all sales training is created equal. Some checks the box and looks shiny on paper, but it's not sticky. That means, it won't stick and will not set your team up for long term success. Choose wisely.
If your discovery starts out with a product pitch - RUN. You want a sales training company that goes through discovery to DIAGNOSE what is going on in your business and is able to identify a major gap to determine IF moving forward makes sense.
Are you looking for education, training and entertainment? Vet the trainers.
Are they funny, engaging and entertaining?
No - then your team most likely be on their phones texting each other.
Remember, investing in your team's growth is an investment in your organization's future success - choose wisely!
