I am, by nature, a realist optimist who looks at what we can do, how we can make things better and so on. But I don’t do things on a whim, my team and I study what is best practice and look to design, build and weave the various ingredients together to create cost effective, human-centred, strategy and process driven transformation frameworks and journeys that deliver magnificent results and highly capable people when it to comes to selling better.
So effective – cost wise and results wise – that it becomes a no-brainer.
Yet, too many business and sales leaders opt for substandard 20th century quick-fix sales training solutions –that deliver virtually nothing and keep people from growing, reaching their true potential and achieving magnificent and sustainable sales results– despite clear, well researched evidence to the contrary.
Let’s take a look at the 3 basic options currently available to you:
- Do nothing but expect improved results.
Hope is not a strategy.
Investment: zero. ROI: uncertain
This is still very common across business and prevalent in a number of industries - Opt for traditional (annual) 2-day sales training workshop.
Average cost per person*: $1,000 to $2,000.
Investment: high. ROI: low.
Research shows that after 30 days, almost 90% of the learning is forgotten. Nothing really changes.
Sometimes the 2 day training is reduced to 2 hours at a conference in the hope it will be enough for the sales team over the ensuing 12 months. - Implement a 12+ months Sales Transformation Programme.
Average cost per person*: $3,000**
**(based on a team of 15 people)
Typically includes: 2 days face-to-face Sales Management Training for sales managers, 2 days face-to-face Sales Training for the sales team, 12 months access to online sales training including a parallel support programme for managers to coach their teams on a regular and consistent basis using 70:20:10 learning principles.
Investment: low to medium ($58 per week per person).
ROI: 20% to 30% improvement in sales results on average.Let’s do the ROI math: If a salesperson’s average sale is $5,000 and they were selling $500,000 per year – that’s 100 sales on average. If they improved their performance by 20% over the year they will have sold $600,000 at an average deal size of $5,000 then there are 20 extra sales. In addition, the average size of the sale could increase by 20%+ to $6,000 as well. Now combine increase in numbers of sales with increase in size of sales and the sales results could be $720,000 per annum which is an increase of $220,000 in sales growth which is nearly 50% increase in sales. These are just some of the ROI we are seeing from adopting Option 3.
Don’t take my word for it or my 23 years of experience in this space.
Option 3 works because it uses well researched and effective business models and frameworks along with inquiry based 70:20:10 learning and insights to drive the right thinking, behaviours and change outcomes needed. It is housed in Perpetual Learning Environments™ that show success over and over again.
There is plenty of research and we have plenty of client case studies that show Option 3 delivers results and outcomes time and time again. Such as:
Successful Sales Training
Option 3 Sales Results and Outcomes
- Sales revenues and profits growing in all regions
- Increased share of wallet per customer
- Drastic reductions in discounting and clients still happy
- Increased growth in size of each sale
- Sales teams much more confident and competent with clear demonstration of application of sales skills leading to better sales
- Lift in out bound and field sales activities, better prospecting and qualifying of opportunities and better activity management
- Lift sales prospecting activities, better conversion rates and activity management
- Sales team finding and winning more profitable sales with better quality clients
- Healthier sales pipeline with more confirmed work over longer time frame
- Customer retention improvement
- Improved customer satisfaction and NPS
- Complete culture and mindset shift across the entire organisation to improve the customer experience and lift sales
- Increased level of staff competence and retention
- Increased coaching capabilities of sales leadership team.
- Sales staff turnover reduced from 30-40% to less than 5%
- Salespeople clearly explaining to their team mates how they have just won a significant new customers using the tools and learnings from their training and coaching
- Sales managers trained and evolved to become very competent, effective and respected coaches and leaders which have lead the way
Who wouldn’t want this for their sales teams?
You would be mad not to want this.
Here are the brutal facts:
- Option 3 starts with leaders. It must be leader led. Commitment to the long term is required. Interest in your people’s development is a must.
- To achieve Option 3 results requires a small investment of money and a small commitment of time invested at regular intervals to make this happen.
- Option 3 must be strategy and process lead but human-centred.
So, we invite you to go out on a limb and give Option 3 a go.
Because we want you to create your own magnificent sales team.
It’s a worthwhile investment. Your sales team will thank you, your clients will thank you, your shareholders will thank you. It’s a win:win:win all around.
Here’s to selling better and leading and developing magnificent sales teams.
Remember everybody lives by selling something.
Author: Sue Barrett, www.barrett.com.au
More about Option 3 Principles and Practices
The principles of a Perpetual Learning Environment (PLE)
Sales operations are complex systems with many variables – both inputs and outputs. When it comes to getting a sales team on the right track we need to make sure there are sales strategies and systems in place to guide the right behaviours and mindsets.
Delivering an effective sales training, coaching and mentoring programme is more than a 1-2 day event on sales theory and skill. We emphasise and encourage a holistic approach by integrating both formal and informal learning elements that are underpinned by a sound sales strategy, a robust sales operational framework and clear sales leadership.
The 70:20:10 formula
Our learning and development philosophy is built upon how individuals internalise, own and apply what they learn based on how they acquire the knowledge. We rely on the 70:20:10 formula that describes how learning occurs and includes interval training and discovery learning.
The most effective way to learn and develop a skill, behaviour or mindset is to apply and practice it on the job and in real life situations. We integrate customised classroom training with in-field coaching and reinforcement supplemented by access to Barrett’s on-line sales resource (manuals, training, materials, blogs, tools and papers) to ensure a focused, blended, learning experience that sustains continuous reinforcement and improvement over time.