Optimizing the ROI from Sales Training
Through the years, we have reiterated the importance of sales training. We even put together a template pack dedicated to the cause. Now our friends at CSO Insights have released an excellent white paper that puts more hard evidence behind the ROI of sales training based on their 2012 Sales Performance Optimization Study.
It is no surprise to us that the biggest impact on sales training ROI is about what happens afterstudents leave the training.
In their report, Optimizing the ROI from Sales Training, CSO Insights finds that organizations operating at the highest level of sales process (i.e. provide formal training, modify it based on market conditions, and provide ongoing feedback to sales team on their application of the process) ensure their sales team is consistently applying skills after they learn them.
To do so, companies are investing in training sales managers on effective coaching to make sure sales skills are being reinforced. Next, they provide unlimited access to online training, allowing sales reps and sales managers alike to access online tools from anywhere at anytime.
CSO Insights also reports:
· Sales training must be directly aligned to the clear business objectives that have a clear and measurable ROI.
· Commercial courses are more successful than those created in-house, however these trainings must be adapted to fit the company so reps can see how it applies to their sales process.
· Training should primarily focus on the selling skills of the team, not the product, as prospects are already knowledgeable on the product before contacting a sales person.
The study revealed that sales executives clearly understand the need to invest in sales training, as the majority of the companies indicated they already provide some level of education. Aligning this training to the company’s sales process, focusing on selling skills, and executing regular follow-up to training is essential to achieving success.
It is this commitment to sales process that ensures ROI.
