According to TaskDrive, a company earns $4.53 for every dollar spent on sales training. Here’s the irony. The same survey also found that over 25% of all sales reps say their company’s sales training adds little to no value to their productivity.
Here are five methods from the best Sales Training course to help you evaluate the success of your program and ensure it’s in step with the top sales skills practices.
Analyze Costs and Benefits
In business, every action has two sides: cost and return on investment (ROI). Sales training is no exception. If the cost of rolling out a program is higher than the ROI, it’ll be hard to justify the outlay. However, it could be worth every dime if the benefits outweigh the costs.
According to Forbes, seeing a single sales rep through a generic one to two-day program can leave your coffers anywhere from $500 to $5,000 leaner. Taking the same rep through a day of 1:1 coaching can leave you with a hefty bill in the range of $3,500 to $25,000. Though those numbers appear eyewatering, Forbes estimates you can see a 5% improvement in revenue after about 18 months.
As the name suggests, generic sales training programs are one-size-fits-all offerings that are a decent option for start-ups with basic sales system needs. In contrast, the benefit of 1:1 coaching means your rep has a proven expert to hold their hand and walk them through specific concepts and their use.
Before hiring a sales coach, touch base with your team to pinpoint any skills gaps. This way, you can shop for a training program that plugs those holes. Finally, make use of the below methods before, during, and after a program. This will tell you if a course adds value to your business and employees.
- Pre-training: Also known as a baseline check, it can help you place your finger on an employee’s skills gaps. This insight can guide you to the right type of coaching.
- During training: For example, testing your employees during a program with a pop quiz can help expose the areas of the course that need a touch-up.
- Post-training: Test the participants at intervals after the program is complete. Then compare the feedback with the pre-training stage findings. An improvement means the training is on the ball. If there’s no progress at all or, worse still, a lapse, it’s worth changing programs.
Track Employee Engagement
A coaching process with actionable and enjoyable content will keep learners engaged. This motivates employees to go above and beyond the basic course requirements.
According to Unboxed Technology, spicing up course content with custom training games can turn a drab curriculum into an immersive experience. Similarly, sessions with micro-learning videos can also keep learners engaged, thanks to their visual nature.
While these methods can move the engagement needle, keeping tabs on employee commitment levels is a useful practice to see if the content is helpful.
Observe Employee Behavior
After training, employees can apply their new skills, strategies, and thought processes to profitable use.
The new habits can help your team members to:
- improve communication and negotiation skills
- develop better customer relationships and interactions
- stay up to date on the latest industry trends and best practices
You can tell a course is worth the time and money when your employees blend new skills and techniques with their existing processes.
Compare Performance Levels
Looking at your sales numbers before and after a course is a simple way to assess a course. If your reps are closing more deals than before the training, it is likely that the program was a success.
You can measure the effectiveness of a training by keeping an eye on the following metrics:
- the percentage of prospects that convert to sales
- net profit per sale
- average order value
A rise in sales volumes and profit margins is a telltale sign that a course has improved your reps’ skill levels.Together, these five methods can help your business harvest the skill and financial benefits of a good training program while avoiding courses that bring your team no added value.