As a sales & marketing strategist and executive sales trainer I have had a front row seat for sales training outcomes and keeping an eye on the statistics for training. As sales training investments trend to increase upwards, I am sure you will want to know where to place your focus when it comes to training.
According to Training Magazine’s 2015 Industry Report, corporate training stands at around $1.4 million per year in mid-size companies, rising to $70 million in large organizations because they are aware of how important it is to train their staff properly.
Ideally, everyone within an organization needs high-quality training, but there are instances when prioritization is needed. In this article, we take a closer look at the importance of both sales management and sales executive training, and attempt to decide which group needs effective training the most.
Sales Executive Training
A study commissioned by Middlesex University, has found that 74 percent of workers feel they aren’t achieving their full potential and want more training. This is important because sales executives are the most important contact point between a business and its customers, so their performance is advantages to the success of the business.
Most companies spend a lot of training on the product and the product benefits vs actual sales training techniques. Statistics show that there isn’t a lot of time spent on teaching relationship selling, which most top performers are driving by purpose and not money. Effective sales training can help sales executive to become more engaged at work. This can make a large impact for companies because we know that 26 percent of employees are “actively disengaged”, according to the research from Gallup.
When you have a disengaged sales staff, you end up having a high staff turnover, with as many as one in three sales executives leaving their job within the first year. CED Magazine reported that 70 percent of people cite job-related training and development opportunities as a key factor in deciding whether to stay in their job.
Sales Manager Training
There are a number of important benefits in training your sales managers. It is so important to get the basics of management right, and things like product knowledge, target setting and performance evaluation can all be taught through and effective sales management training program.
The positive effects of training extend beyond the managers themselves. Research shows that highly trained managers form better relationships with sales executives, leading to greater morale, reduced staff absenteeism and lower staff turnover; which as you will remember, were a key benefit of sale executives training too. An employee’s relationship with his or her direct manager is the most important single factor in employee engagement.
The conversations managers have with their sales executives drive the conversation that sales executives have with the customers. If the internal conversations are only about price, volume, and targets, with no mention of a larger purpose, that’s exactly what your sales executives will discuss with customers.
Who Should Get the Training?
It can be argued that executive training is more essential, because managers should a least have a degree of competence, especially if they have worked their way up internally. There normally is no agreed upon skill set for managers as such, as successful managers can have drastically different qualities. Nevertheless, most companies under invest in training for sales managers, choosing instead to focus on the top and bottom of the company. Research from the U.S. Bureau of Labor Statistics shows; that companies with between 100 and 500 employees provide an average of just 6 minutes of manager training every six months.
I would agree that it could be argued that for most companies, the biggest improvement they could see in getting better results would be seen if they increased spending on training for their sales managers. This can then have a positive impact on the manager and sales team as a whole, leading to reduce turnover, improved performance and, hopefully greater sales success.
To help assist sales manager to evaluate performance and to guide what type of training is necessary for their sales team improvement I would highly recommend the Sales IQ Profile Assessment.
The most effective sales tool I have seen and used to get the best results with your sales training is the Sales IQ Profile Assessment. This assessment offers such an objective analysis and essentially answers the question, “What, specifically, is keeping this person from selling more?”
Click here for more info: http://www.ezmarketingllc.com/sales-iq-profile or
CALL: Susan Couslin at 877-434-4337 to see how you can qualify for a FREE Sales IQ Profile Assessment!