It’s no secret that businesses run on tight budgets. This is why it’s important for managers to learn how to effectively utilize their limited funds. A good rule of thumb is to choose to invest in areas most likely to ramp up business KPIs. One key area of the business worth pouring funds into is training, especially in sales skills.
According to research by TaskDrive, sales training programs have a 353% return on investment. So, here’s a rundown of why an investment in sales training can beef up your operations.
Prop up your business
Your business will crumble under the heavy weight of expenses if you don’t maintain a steady stream of revenue to balance the load. One way to prevent a crash is to invest in the team that works the magic to keep the topline dollars flowing in.
Training helps your team master key skills, such as:
- qualifying and chasing leads
- reading customers
- active listening
- answering questions
- handling objections
- closing deals
With the right skills, your sales reps can get an edge over competitors, helping your business thrive.
If all your reps are sharp as a tack but their work has no cohesion, they are more likely to perform below par. Statistics compiled by Zippia reveal that workplace collaboration causes a 27% jump in sales.
Training programs for salespeople involve sessions that promote teamwork and collaboration to smoothen the workflow. Reps learn how to, for instance, bounce ideas off each other or offer a hand when needed.
This collaborative environment helps team members to come up with better ideas, notice their blind spots, navigate through bumpy situations and dissolve tensions leading to more fluid interactions within the team.
Fuel employee engagement
The material covered in training courses helps give reps clarity and empowers salespeople when performing their tasks.
When reps gain confidence, they tend to feel more committed to their work. In a study conducted by Udemy, 8 out of 10 people say that learning opportunities helped them become more engaged when performing their duties.
According to Awardco, training helps create a positive cycle of empowered employees and increased productivity.
Also, having a strong training program in place helps attract and retain top talent. As reported by Lorman, more than 75% of people are drawn to an employer because of the promise of training and development.
Builds an adaptable workforce
Selling any product is not something you can do with your eyes shut. Customer demands are ever-changing and so is the business environment. Training helps to keep your reps on their toes and in tune with the most relevant techniques of the time.
In addition, learning programs help your sales team learn how to respond to change and adapt quickly. A team that’s skilled, confident, and on point with hitting targets tends to stay on for longer saving you the time, opportunity costs and hassle of recruiting.
A worthwhile investment in sales training programs
A well-oiled sales process where reps are skilled and engaged is at the core of a thriving business. So, consider investing in sales training to give your reps the tools for success.