This is usually the first question that most trainers will face as soon as they say ‘sales training’. Probably because they do not have separate budgets for each activity in training. The answer is also equally difficult because it depends on a lot of variables.
However, let’s take a look at what sales training is, how you can use it to your advantage, and other such questions which can not only save you money on effective sales training but also help you to decide which right sales training company for you is.
You can expect the sales training cost on the basis of the modules that are being shared by the sales trainer. Usually, it will start at a minimum cost of USD 1000 or INR 70,000 per session by the sales training company. Make a note that the charges will depend on the modules that are being enclosed in the training session. Some of the other factors also depend on the cost which is shared in the below points:
Let’s start with the basics.
What is Sales Training?
Simply put, sales training is the process of improving seller skills, knowledge, and behavioral tips that drive sales and maximize sales success. It is the process of equipping the seller with the right set of tools to create and explore new sales opportunities, as well as close sales for the organization, and not just to become a sales expert.
Those employed in the field of sales will find that becoming a sales expert is not as straightforward as it sounds. There are so many variables at play that it is not possible to predict the outcome of every sales pitch.
But with the right training, skills, and attitude, it is possible to increase the chances of a sale. You can become a sales expert so you can close more deals and improve the performance of your sales team.
So What Does Sales Training Involve?
As mentioned before there are as many different ways of providing sales training as there are many sales training companies. Each will require a completely customized approach for maximum efficiency and impact. That is why it is important to take a different approach when finalizing a sales training cost and sales training company for your team.
You should start with the end in mind. What do you want to accomplish with the sales training session? Do you have long-term goals or short-term goals? What are the current challenges that your sales team is facing? Usually, the major issues include not closing enough new business, long sales cycles, etc., so it would be a better plan for you to identify the sales problem that you want to solve.
Being aware of these questions will also mean that you can ask the right sales interview question for a sales candidate. It would be better to self-reflect on the problems your sales teams face, but you can also approach a reputed sales trainer to discuss the issues in detail and then prioritize your focus. This is to ensure that your sales training expenditure achieves the maximum results possible, and is providing 10X Sales returns.
While it may not be possible to accurately figure out the sales training company cost of the sales training program to become a sales expert, there are some factors that will play a major role. The sales training cost will usually be based on these factors:
Terms of Engagement
Training is not a one-time activity but a continuous process of sales employee improvement and development as they grow in their roles and need new sales skills. The principle of reinforcement is crucial to training and behavior modification so attendees can employ their newly learned sales skills, and discuss them with the trainer to make sure that they do not have any shortcomings or doubts about how to be better at their job, which will make them better salespeople.
Though sales trainers are usually hired for specific sales skills training and employee development, it is common to also request their services for allied aspects of business development such as helping with interviews, leadership training, sales process implementation, employee assessments, etc. Obviously, this would mean a different cost structure and model with the sales trainer so he takes a personal approach to the sales functions and the sales teams that the organization has employed, and makes sure that they are trained for the highest efficiency.
Experience of The Trainer
Experience can be considered one of the most important aspects of a trainer. The better his experience, the more he is able to accomplish through sales training programs. This is simply because he would have interacted with similar employees and understood their problems in detail. Moreover, it would be better to have trainers who have worked in a similar role and profile as your sales team so they understand the inside out of what is involved in closing the sales.
New Skills Development
Finally, the most important variable is the skillset that you want to impart to your sales employees. New technologies and techniques will obviously command a premium in the market. And again, the question of the terms of engagement also applies.
As part of a long-term engagement, trainers may charge you less than what you would pay as a single session. That is why it is important for you to identify the exact reasons why you want to undertake sales training.
No matter how customized sales training programs are or how much does sales training cost, the fundamentals will be the same for most of them. The important thing is that to become a sales expert, you will have to understand several topics such as human behavior, psychology, etc. which will help you not only make a sale but establish authentic relationships with customers. Also, be clear about the budget you are comfortable working with, so you can achieve maximum returns for your investment by planning properly.