Measuring the results or impact of any learning intervention is challenging. This is true when it comes to sales training also.
Because there is a significant time gap that can exist b/w effect of any intervention like training and tangible business results and added to that complexity of isolating the impact only training made on results, businesses do not like to invest in learning interventions.
But the benefits of sales training are too many to be left ignored for long. So in the below video, we share how you can measure your sales training ROI. But before that, let’s understand a little on what benefits does sales training bring?
In today’s extremely competitive business environment, having any advantage over the competition is necessary. One of the most important tools that a company can have, to ensure that they stay one step ahead; is a strong sales team.
According to a study cited on the SalesForce Training website, the caliber of the salesperson, in a B2B environment, is the most important factor influencing prospects’ decisions to buy. In the U.S., more than $5 billion is invested in sales training and improvement.
Dartnell’s 30th Sales Force Compensation Survey reports that companies with less than $5 million in annual sales are spending increasing amounts of money on employee development.
These large investments highlight the importance businesses place on sales training, however, not every training program is effective. To get a return on your investment, training programs must be targeted to achieve particular objectives.
Sales training that works is an investment that reinvigorates your team and revenue. It will be suited to your industry and personalized for your business. But most businesses who have never seen the benefits of sales training or have been on the wrong side of sales training where nothing came out, wonder how do I measure sales training ROI.
Will the investments made in terms of effort, time, and cost be worth it? Is there a method to measure this?
Yes, there is a way to measure any learning intervention ROI and it is a time-tested 4-Level Model called Kirkpatric or 5-Level Philips ROI model that exists and has been practiced for decades. This video describes the same
The benefit of Sales Training
As shared in the video, sales training ROI measurement is very much possible but requires the tools and timelines properly set.
There is no doubt that the better trained your sales team is, the better results for your entire company. But not measuring what is better, how people react to training translate to learning, then behavior on the field, and finally results is important to make the best use of training.
Sales training enhances the person-to-person connection which is necessary to gain loyal consumers. According to impactcommunicationsinc.com, 71 percent of people base their buying decisions on trust and believability.
All salespeople need to thoroughly understand their audience’s wants and needs while also being able to communicate to that audience the benefits of the products and services their company offers so that they can truly appeal to the audience and build that necessary loyalty.
This level of behavior doesn’t come naturally to many sellers. So an L&D head, Sales Head should always look for sales training courses that will enable the staff to constantly upgrade skills, and competencies and demonstrate the same on the field.