“For every dollar a company invests in [sales] training, they receive about $4.53 in return. That’s a 353% ROI.” *
I feel like that’s a mic drop statement. I mean, really—what more justification do you need for investment in sales training?
Sales training is crucial for the success of a company
Salespeople represent the company. They are the face of the company to customers, and, as such, can make or break a company’s reputation. So, it makes sense for a company to have a strong sales team. This is especially important in challenging times like these, when companies need to employ all the tools in their toolboxes to their best advantage. Trained salespeople can generate new opportunities and convert them to the sales your company needs. Of course, the better trained they are, the better results you can expect.
Here are four ways sales training can help your team:
1. Communication. In training, we cover the importance of ongoing communication with the customer. Salespeople need to have the kind of conversations where they will be able to uncover what their customers truly want and need, and then be able to communicate how their products and services meet those needs. Strong communication skills will also help salespeople appeal to their audience and build trust and loyalty. This is a pretty big thing, since only 3% of people think salespeople are trustworthy.
2. Connection. It’s long been known that relationships are key to selling. In times of challenge, like those we now find ourselves in, that connection is more important than ever. It’s through connection that salespeople find new opportunities, form the relationships necessary to build trust and loyalty, and gain referrals. In our Sales Hat training, we emphasize the importance of building a strong network of connections who provide support, encouragement, knowledge, and, yes, opportunities through referrals. Knowing how to network and build those connections is a key factor in sales success.
3. Buying Experience. So many businesses, and their salespeople, sell on the basis of price. Yet that determines only 20% of the purchase decision. The other 80% is based on the buyer’s experience with the company. (Source: CMO, 2019) Since the salesperson is a crucial link in the customer experience chain, it’s vital they represent the company well. Training will provide the knowledge they need to create a great sales experience for the customer.
4. Loyalty—both ways. With an improvement in communication and connection, there will be an improvement in loyalty as well. The majority of people make purchasing decisions based on trust and credibility. If they have a salesperson who they feel really gets them and is there to serve their best interests, they’ll come back time and again—and bring others with them. The salesperson should be loyal to the customer as well and always aware of their needs. Support in the form of service and/or product is done for the customer and not for the company. In this way, the purchase ends up being a win-win-win—the salesperson gets the sale, the company gains the revenue, and the customer leaves happy.
Not only are salespeople crucial for the reputation of a company, they are also the main revenue-generating department. Good sales training is vital to the success of your salespeople and your bottom line. With great sales training, your salespeople will gain the skills they need to work with buyers on a personal and professional level, enabling them to make connections and gather the information they need to put forward the right solution for the customer.
Whether you're an entrepreneur who wears the sales hat, a sales professional, or the leader of a sales team, you need to take every opportunity to increase sales. So, invest some dollars in training, and gain the ROI that great training returns.
(FYI - Our latest course Outside In: Reframing the Sales Mindset is being offered at a great rate of $497.00. That should get you a return of $1754! Hey - you could put 3 people through at that rate!)
Check out our Sales Hat training. Here's the link: https://www.eventbrite.ca/e/outside-in-reframing-the-sales-mindset-tickets-106481392712
*(Source: Return on Learning: Training for High Performance at Accenture)
photo credit: Jacob Lund for the Noun Project