10 Reasons to Invest in Sales Training Right Now
Let’s face it; sales training can have a hit-or-miss reputation when it comes to delivering a meaningful return on investment (ROI). For this reason, many companies hesitate to invest in developing skills and knowledge within their sales team. With current changes in the modern B2B complex sale, it’s critical that companies put the right training and resources in place to enable their teams to thrive today and in the years to come. Below are ten compelling reasons for companies to consider investing in training for their sales team.
1. Sales training is more cost-effective than ever before.
While there are no shortages of challenges and disruptions resulting from a global pandemic, a silver lining is it’s more obvious now that teams can operate remotely. Similarly, virtual training is cost-effective thanks to a reduction in travel and is just as potent in developing skills and knowledge, when compared with in-person training.
2. Your sales team will offer value beyond product expertise.
In many industries, sellers have long been seen as a source of technical expertise than as consultants who help buyers solve problems. In today’s digital buying environment, buyers get most of that information on their own, so when they do engage with sellers, they expect additional insights and value. Consultative selling skills are critical in positioning your sellers as valued resources beyond simply providing product and technical expertise.
3. Build a better baseline for sales execution.
A lot of sales teams are composed of individuals with a large variance of experience and level of skill. For many organizations, the type of training that sellers received depends on when they were hired, or what companies they’d worked for previously. Putting a fresh selling system in place through effective training builds a better baseline to get everyone executing at the same standard.
4. Establish a common sales vocabulary.
Companies who invest in core sales methodology training find that one of the most significant benefits is having a common language in which the team can talk about their everyday sales situations. Whether it’s sellers discussing pipeline deals or front-line managers coaching to refine behaviors in the field, an established sales vocabulary is a way to know that more of these conversations are happening productively.
5. Seamlessly integrate new hires into your company.
A lot of noise has been made about the “great resignation” resulting from the COVID-19 pandemic. For you to capitalize on the moment, attract the best available talent, and get them ramped up quickly, you’ll need the right training capabilities. Provide new hires with the necessary skills, tools, and expertise to hit the ground running.
6. Outsell your digital competition.
Buyers are doing more of their own research and evaluation online. If your company hasn’t been on the cutting edge of enabling a self-guided buyer journey, that likely means your sellers will need to compete against other companies that have. Sellers with stronger selling skills earn the attention and trust of your buyers and put your company in a stronger position against digital competition.
7. Incorporate new tools into the sales process.
The recent advances in sales tech provide companies a ton of opportunities for improving efficiency and effectiveness. However, bolting on new tools to old processes sometimes creates confusion or misalignment. It’s important to put effort into communicating how your sales team should fit these new tools into daily activities alongside existing tech and processes.
8. Master the complex sale with multiple decision makers.
Over the past ten years, it’s become apparent that few purchases are being made by individuals in a vacuum. Gardner’s latest research shows that upwards of ten decision makers and influencers are involved in a B2B purchase. Unfortunately, many traditional sales training methodologies weren’t built for this drastic change in the buyer-seller dynamic. Qualifying, discovery, communicating value, moving the process forward, and gaining commitment all require different approaches when there are a large number of decision makers involved in the process. Investing in a modern sales methodology that is built for these complexities gives your team the ability to get more deals across the finish line.
9. Virtual and hybrid selling requires better fundamentals.
While some core sales skills translate into any selling environment (in-person, virtual, or hybrid), there are a few differences in the blocking and tackling that happens when selling virtually. The organization, communication, and execution of prospect and customer meetings require more intention and effort than traditionally necessary for in-person situations. Why? Sellers’ meetings are lining up shoulder to shoulder on their calendars, and much of the planning and follow-up is getting squeezed out. Help your team stand out with your buyers by giving them tools and approaches to run excellent meetings while your competition bumbles and fumbles.
10. It’s not a cost; it’s an investment.
In some circles, sales training has been seen through a Human Resources lens as a necessary expense rather than an investment in the continued growth of the business. The fact is, sales is the most performance-based function in any organization. Just as world-class athletes continue to train and receive coaching daily, your sellers need to constantly work to improve and perfect their craft.
The buyer and seller dynamic is changing quickly and it’s up to you to attract the best salespeople and arm them with the right skills to be successful with today’s buyers. If core sales training is in your roadmap in the coming months, consider how you can establish training in a way that makes lasting improvements.
Modern Sales Foundations provides the complete toolkit to ensure that your training investment delivers the results you’re looking for.