Sales training can do more than teach a thing or two to your sales team. For one, it can crown your business with a whopping 353% ROI. To put it simply, for every dollar you put into training, you can fetch $4.53 in return. Both figures are provided by industry experts from Accenture.
This article will share a handful of exciting ways sales training can help improve your business’ income.
Promotes Employee Satisfaction
“Offering sales training and backing it up with quality sales coaching can step up employee satisfaction,” says renowned Forbes council member, Julie Thomas, on the ideal sales formula.
As sales teams reap from the benefits of training programs, they’ll likely credit each milestone to your company and hold the management in high esteem. The relationship between management and the sales team can deepen when there is gratitude and respect on both sides. In turn, sales reps can then carry this warmheartedness into their relationships with customers.
Opportunities for learning new skills are likely to empower and motivate your sales team. The thought that you care for their success as professionals can be a huge inspiration. Employees will highly likely feel valued. So, team members will likely feel more ready to take the challenges of their work by the horns.
Interestingly, according to research done by Huffpost, 70% of employees say empowerment can step up their engagement. Also, 70% of business leaders believe empowerment is vital in achieving employee engagement. Empowerment through training, therefore, enjoys a lot of favor in the corporate world.
Adding an extra cherry to the cake, the University of Michigan has also said employees who are empowered through training show:
- more motivation
- more job satisfaction
- higher sense of commitment
- better performance
- lower turnover
Sales training is the key nutrient reps need to feel more self-assured and less tense when meeting prospects.
Improves Sales Skills
For sales reps, success is closely tied to their grip on selling skills. Even those with a natural flair for selling, without appropriate training to keep their skills sharp and up to date, a rep’s results will tend to flatten. There’s good news, though. Like everything else in life, sales skills can be learned.
Sales training can equip your teams with win-win strategies. The program can help single out the strengths and work on the weaknesses of each team member. This can turn your team into a powerful sales machine.
Today’s customer has a tendency to evolve their expectations more rapidly. Whatever sales techniques worked yesterday might put prospects off today. To cope with this unpredictability, sales training can bring your reps up to speed on the latest market trends. Also, practical training can help sales teams stay on top of the game. Keeping pace with the customer is vital in knowing what they want and ensuring they have it.
With all that said, training can be a rich source of modern sales techniques. Here’s the caveat, though. Success might be a pipe dream if you don’t let your sales teams lay their hands on the training.
Customer Service Skills
Harvard Business Review says it costs 5 to 25 times more to rope in a new customer than to keep the ones you already have. Also, MyCustomer reports that loyal customers tend to spend 33% more on each order than new customers. Sales training experts, therefore, suggest that most of your sales will likely come from repeat customers. So, keeping your existing customers should be on your team’s priority list.
With an ongoing training program in place, your sales teams can:
- gain the customers’ confidence
- offer excellent customer service to customers who need more support
- maintain a positive image in the customers’ eyes
- become better listeners to customers and offer helpful feedback
- build quality customer relationships and become valuable brand ambassadors
Bolsters Customer Experience
It can be risky to sneer at the people skills that training can bring to your sales reps. Skilled team members can use their training to make customers feel valued. When these employees handle customer queries in a professional manner, the customers take note. This can hold off customer churn and be a recipe for undying loyalty.
Trained employees will likely treat customers to a great experience, paving the way for retention and higher income.
Sales training can usher your teams into a world of technologies and strategies that are key to delivering customer satisfaction. On the flip side, sales reps who are short on training are likely to make customers unhappy. In due time, such customers might take off to greener pastures, leaving a dent in your bottom line.
Confident salespersons more often than not tend to write their own tickets. Sales training experts say that customers are likely to place their confidence in a self-assured sales rep. The reason is that sometimes customers are likely to rely on the words of the rep to make a decision.
According to Impact Communications, 71% of the time, prospects are likely to decide to buy a product or service based on how much they trust and believe the reps. If a sales rep seems nervous, the customer might seek the attention of a manager or colleague. In the worst scenario, they might throw their arms up and walk across to a rival business.
An uptight sales rep is likely to throw in the towel in the face of the slightest hint of objection. They may even leave money on the table. Sales training, though, can help your teams develop the confidence they need to increase income.
Empower Your Sales Team
Sales training can be a wise investment. It’s likely to lay the groundwork for effective communication, decision-making, and customer service. In some cases, training sessions might be the only way to break specific ideas down for your sales teams.