Have you ever wondered about the impact of customized sales training? We hear a lot about the importance of implementing great training programs, but what do the numbers say? When considering the investment in a customized sales training program, it’s important to evaluate just what kind of return you can expect for your sales team.
We went through the research and compiled a list of the 10 of the most amazing stats we found. We knew sales training made a difference, but a few of these were eye-openers even for us. Let us know if these resonate in the comments!
1. Sales teams implementing post-training reinforcement see 20% more reps achieving quota.
2. Without systematic, ongoing learning and reinforcement, approximately 50% of the learning content is not retained within five weeks, much less applied. Within 90 days, 84% of what was initially learned is lost.
3. Only 22% of executives surveyed felt salespeople “Understand my issues and where they can help.”
4. Firms where salespeople use the company’s methodology and get consistent coaching see 73% quota attainment.
5. More than 22% of those reporting “low” training and coaching support reported a decline in sales revenue of more than 20%.
6. 52% of poor performing firms do not measure the impact of sales training on overall company success.
7. The average company spends $10,000 to $15,000 hiring an individual and only $2,000 a year in sales training.
8. 35% of CSOs are unsure what measurable improvements they seek from training investments.
9. 47.5% of sales representatives take 10 months or longer to become adept enough to contribute to company goals.
10. 65% of employees say the quality of training and learning opportunities positively influences their engagement.