Uncover hidden ROI to make better training investments and secure more resources
Companies spend billions every year training their sales teams, yet the results generally disappoint. An astounding 96 percent of the sales leaders, trainers and reps we polled felt their training needs improvement!
Systematically measuring the ROI of sales learning reveals the path out of this situation by differentiating those investments that improve sales performance from those that don’t. Quantifying impact lets training and enablement teams more effectively champion their initiatives and win additional resources.
For a deeper dive into the 4 sources of ROI for sales training technology,
Nobody seriously doubts the importance of sales training, so the ROI for sales teams is there. However, organizations typically focus too narrowly when trying to measure it. Activity and engagement metrics, while important, are too far removed from actual business outcomes to convince most decision makers that an initiative produced value.
Cost savings, particularly related to travel, is the easiest and most commonly measured type of ROI (here’s a post about it) — and these are “hard” dollars, the kind CFOs love. But if you stop there, you’re selling your team’s impact far too short. You’ll miss entire categories of real business value your team probably already delivers. Specifically:
1) Eliminating Costs that Drag you Down
The easiest ROI component to capture and quantify is cost reduction. Good sales training technologies make sales learning more efficient and effective. Read Allego’s series of posts about the ROI of sales training for more on how modern sales learning reduces training costs. It’s not just hard travel expense. Reducing lost selling time from reps being out of the field impacts the top line even more.
2) Reducing Risks that Threaten Success
Sales training costs money, but poor or absent sales training also has costs, in the form of risks. Sales training technologies mitigate execution risk, planning risk, regulatory and compliance risk, as well as brand risk by ensuring sellers delivering the right messages in every interaction. Learn more via this blog post and video.
3) Accelerating your Organization’s Revenue Growth
The previous two components focused on cost reduction, but the way to really juice your ROI is by growing revenue through higher performing sellers. The best technologies deliver faster revenue growth, and this post on measuring revenue growth outlines how to tie it back to training.
4) Engaging and Retaining your Best Salespeople
You might not associate an ROI with the well-being of your employees, but this component has intrinsic value and far-reaching business benefits. Highly engaged employees perform 20% better and are up to 87% less likely to leave the organization, which pays off big dollars.
Sales learning programs contribute to bottom line performance in ways organizations often fail to fully appreciate. By systematically measuring and comprehensively demonstrating the full value of sales training efforts, trainers and enablement professionals can earn more resources to invest into their programs and outperform goals.
The Outsized ROI of Better Sales On-boarding
On-boarding new salespeople is a core function of sales enablement and sales training teams. Improving this critical process delivers outsized business impact in the form or reps able to close deals more quickly, reach and maintain a higher level of proficiency, reduce costs and identify and address those struggling with the program. Unsurprisingly, applying modern sales learning technology to on-boarding produces massive ROI.