The first question when considering Sales Training is about the need for it. Management of any company has to balance priorities and distribute budgets for the organization’s needs and requirements.
So let us first attempt to understand what it takes to make an individual, team, or even an organization better at selling.
If we look at the question from that perspective, then sales training is clearly an investment that will pay off with greater opportunities, higher sales closures, and retaining existing customers with lesser costs.
Measuring sales training effectiveness is important. Begin by assessing the need for training. What are the goals that have to be achieved through this particular sales programme?
The most common goal is to acquire new customers or expand the market reach. Or the product may have to be pivoted to be sold at a higher (with greater profit) sales margins.
Sales are not just one activity. There are many specific skills that go into converting prospects into paying customers. Salespeople need to understand potential prospecting, conversation planning, relationship nurturing, needs analysis and prioritization, problem handling, purchase justification, consensus building, and negotiation. To improve customer acquisition, they have to be trained to prospect activity levels, improve the quality of prospecting customers, or even leveraging referrals.
There are different types of sales performance optimization studies such as product/ service training, target audience profiling, marketplace training, CRM system utilization, and sales skills. None of these by themselves are enough.
It seems logical that skills training can have a strong impact on skills, which will result in better performance. Let’s try and justify this position.
We studied a research report by CSO Insights called The Business Case for Sales Training. CSO Insights conducted research of over 2000 companies for 2015 Sales Performance Optimization and Sales Management Optimization studies.
The questions were on the different types of training and how they can have an effect on the bottom line of any company – small, medium or large