Sales training is an important investment for any business, large or small. It helps sales professionals improve their skills, close more deals, and increase revenue. But with so many options available, it can be difficult to know which sales training method will be the most effective.
According to a study by the Sales Management Association, companies that invest in sales training see an average return on investment of more than 50%. That’s a pretty impressive number, and it’s no wonder that businesses of all sizes are clamoring to get their hands on the best sales training programs, tools and coaches.
How do you measure whether it’s effective?
Measuring the effectiveness of sales training can be a bit of a tricky task, but there are a few key metrics you can use to gauge whether your training is having the desired impact.
One of the most obvious ways to measure the effectiveness of sales training is by looking at changes in sales performance. If you see an increase in the number of deals closed, the value of those deals, or the overall revenue generated by your sales team, it’s likely that the training is having a positive impact.
Another metric you can use is the amount of time it takes for new hires to become fully productive. If new hires are able to hit the ground running and reach full productivity faster after receiving training, that’s a good sign that the training is effective. Finally, you can also look at employee satisfaction and retention rates. If employees feel more confident and satisfied in their roles after receiving training, they may be more likely to stay with the company and continue to perform at a high level.
What are the most effective sales training methods?
It’s pretty clear that there’s no one-size-fits-all solution when it comes to sales training. Some businesses find that classroom-based training is the most effective, while others prefer online courses or coaching. On-the-job training is also a popular option, especially for businesses that want to give their sales reps hands-on experience with real customers. That being said, there are a few methods that seem to stand out as being particularly effective.
For example, many businesses are finding the newer, more modern method of asynchronous video sales training is one of the most effective tools in their toolkit. With tools like Re-View, sales managers can send questions to their reps and have them answer them via recorded video. This not only takes the pressure off the situation, but it also imitates what a client would see on a zoom call.
We were keen to test this out, so we ran a study of our own.
In a survey conducted by Re-View, 77% of sales managers reported that they saw an increase in sales productivity after implementing video training with their team. Not only did they see an increase in sales, but they also found that reps were more engaged and motivated after participating in video training.
re-view research, 2023
Plus, you can re-use the videos your reps have recorded to share with other reps, quickly establishing best practices and making it super easy to build out a training guide that will accelerate the onboarding of other reps in the future.
In conclusion, sales training is a valuable investment for businesses of all sizes. From classroom-based training to on-the-job experience, there are a variety of methods that can help your sales team improve their skills and close more deals. And don’t forget about the power of asynchronous video training, which allows your reps to learn at their own pace and get real-time feedback from experienced sales managers. With the right approach, you can expect to see a significant return on your investment in sales training and take your team’s performance to the next level.