White Paper: Is Your Sales Training Worth the Money?
If You Can’t Measure It, Don’t Do It!
Your Greatest Asset
Locked inside practically every company is an asset that represents its greatest investment opportunity and its best chance to achieve dramatic revenue gains. A dollar invested in this asset can return more than $3 in 90 days and almost $14 in a single year. That’s not an opinion or a claim; it’s a documented fact. For some companies, the return can be even higher.
To capitalize on this opportunity and achieve such growth does not require an exotic new business strategy, and it entails no risk. The asset is just sitting there, waiting to be discovered.
The greatest asset any company possesses is the untapped potential of its sales force.
To unlock that potential, the company merely needs to teach its salespeople how to sell more effectively. Is there a catch? Yes. It is this:
- The sales system they are taught must genuinely be more effective than the practices they are
- The system must rely on key skills that can be taught, rather than on innate personality characteristics that aren’t amenable to change (a sunny disposition, “the gift of gab,” etc.).
- The training must be based on proven principles that determine how adults learn and what it takes for learning to translate into lasting behavioral changes and better job performance.
When a system of sales training and certification meets those requirements, the results are nothing short of spectacular. They can be measured. They can be proven. The ROI on the training investment can be demonstrated to the dollar, with no qualifications and none of the usual hedging about outside factors that might have been partly responsible for the increase in sales.
Case in Point:
A firm we’ll call Company A (you would recognize its real name) is a privately held, $1.6 billion distributor with 3,500 locations in the United States and Canada. It has 18,500 employees, of whom more than 1,200 are outside salespeople or sales managers.
Company A has been in business for 45 years and has increased sales and profits every year of its existence. Historically, most of A’s growth came through acquisitions. In recent years internal growth has been very modest—about 1.4% annually, which is directly in line with industry norms in its mature market.
Competitors sell the same products A does, and A found it very difficult to differentiate itself from the pack—to give customers a compelling reason to buy from A rather than from the competition. In other words, Company A was very typical of large distributors in any industry.