Bitcoin is a secure system for storing and exchanging money anonymously on the internet. Got it? Easy to say, but don’t ask me to explain how it works. Similarly, corporate sales training is easy to define. But like bitcoin, it can take forever to explain.
It makes your head spin trying to figure out which program will work best for your organization.
I’m mostly talking about outsourced corporate sales training. You know, the latest flavor of the month type of training. So, which one is for you? How do you apply it? And where do you start?
These tips will help you prepare to implement a corporate sales training program and measure the return on your investment.
1. Align the corporate sales training to your corporate strategy
- Growing organically
- Selling a new product
- Expanding into a new territory
- Competing in a new market
- Improving marketing and branding
Create a list of selling skill gaps between what exists now and what you’ll need. Make sure your corporate sales training consultant can fill these gaps.
2. Survey your salespeople
Surveys are a good way to quantify skill gaps in specific areas. Your outside corporate sales training company should help you develop these.
- Ability to generate cold leads
- Ability to generate referrals
- Quantity and quality of meetings with decision makers and key executives
- Effectiveness of in-person prospecting sales calls
- Effectiveness of phone-based prospecting sales calls
- Keeping prospects engaged throughout the sales cycle
- Customer opportunity to close ratio
- Effective CRM system use
- Ability to qualify and disqualify new opportunities
- Customer relationship building skills
- Strength of relationship with the rest of the organization
- Time management effectiveness
Survey participants on how useful the corporate sales training was for them.
Things you want to know include:
- Has training helped people to become more productive?
- What did they stop doing?
- What did they start doing?
- How many bad habits were undone?
- How do they measure the success of the corporate sales training?
Survey your customers as well. Pick the top three questions you would ask. The list below gives some examples:
- How well did the salesperson present what the company does?
- Did your salesperson ask useful questions to help you determine your goals?
- How effective was the salesperson’s follow up?
- Do you trust and have confidence in your salesperson’s abilities?
- Would you continue to buy from your salesperson and why?
- How would you rank the overall performance of your salesperson?
3. Use a discovery model
Use discovery-based vs. lecture-based curriculum. And include dialog and exercises that allow participants to figure things out for themselves. Lessons learned from lectures don’t last long for the trainee.
Include these topics in the corporate sales training program:
4. Track Key Performance Indicators
Make indicators SMART: specific, measurable, agreed upon, realistic, and time-based. Make sure the corporate sales training program addresses all of the indicators listed below:
- Meetings and phone calls
- Referral requests
- New leads
- New opportunities
- Lead to opportunity conversion ratio
- Opportunity to “won” business conversion ratio
- Prospect meeting follow up emails
- Proposals sent
- Customer testimonials and success stories
Corporate sales training shouldn’t be as hard to figure out as bitcoin!
Your plan for implementing, delivering, and measuring corporate sales training results should be simple and effective. Corporate sales training should be engaging, memorable, and something people enjoy. It should also be ongoing.
I wish you good luck in selecting the type of corporate sales training that gives you the maximum return on investment. And I wish you much sales success!