Sales training can bring a return on investment of over
350%, according to Task Drive. This expectation of astronomical returns pushes
U.S. companies to spend over $70 billion on training each year as highlighted
by Salesforce. Yet despite the huge potential, ES Research found that an
alarming 85“90% of training has no impact beyond the first 120 days.
It's plain to see that there is a missing link. Companies
are pouring funds into training programs that quickly fizzle out. In light of
this grave situation, your sales training programs need to exceed expectations if you want to avoid throwing
money down the drain.
This article delves into some of the best programs and
techniques to include in your training that can
help bring you results.
Skills Reinforcement
Ardent Learning says that people easily forget what they
learn in sales training. They state that 84“90% of information
from training is lost within the first 90 days
after the course.
Studies by 18th-century psychologist Hermann Ebbinghaus made
it clear that forgetting what you learn can't simply be blamed on a foggy
memory. These studies found that if there's no reinforcement, what you learn
will be forgotten in no time at all. As a result, one of the most critical
factors in your training is reinforcement.
Allow your salespeople the chance to chew over what they
learned before getting back to training. According to Peak, the human brain
retains more information through spaced repetition. Consider sticking to a
routine schedule for training, even if it's 10“15 minutes weekly. Regularly
going over key concepts can maximize learning and keep your team sharp.
Psychology Scripts also says to incorporate practical
activities in your training. The brain neurons involved in performing an action
fire electrical signals that form an active network of cells. By repeatedly
practicing the action, you increase and improve the transmission of signals in
the brain, making the learning stick. The result is better performance of the
action.
You can help your sales team through activities such as:
- Skills building exercises
- Quizzes
- Simulation games
- Roleplay
That said, conducting the same training over and over again
can derail your efforts by being monotonous. Instead, creating different
learning activities and varying your methods can keep your team engaged.
Sales Negotiation
Closing deals often boils down to how well you can persuade
buyers, counter objections, and negotiate with customers.
Sales negotiation training is one of the best ways to boost
your training programs since it ensures that fewer deals will fall through the
cracks.
Here's what sales reps can learn in negotiation training:
Building Rapport
If you're out of sync with buyers, there's little chance
that they'll be willing to hear you out. It's beneficial for salespeople to
learn how to warm customers up to make room for fruitful discussions. It's also
important to learn how to dissipate tensions should they arise. When you see
eye to eye with buyers, you can make more headway in turning a œno or œnot
now into a œyes.
Drawing Value
Winning the deal is one thing, but if you offer huge
discounts, you throw away value. Negotiation training helps salespeople understand
how and when to preserve value. It can pay off to provide value through other
means, such as training and support.
When to Walk Away
When the talks are dragging, it may be a sign that it's time
to pump the brakes or call it quits entirely. Learning negotiation skills can
help reps decide the best course of action in each situation. Agents can also
learn how to walk away without burning bridges and making them too damaged to
cross if the opportunity arises again in the future.
Managing Emotions
Losing your cool can cost you sales. That's why reps must
learn œ to stay calm when they're rattled or frustrated. Negotiations training
teaches salespeople how to handle emotions through techniques such as:
- Taking deep breaths when feeling agitated
- Asking for a time out to compose themselves
The best salespeople don't just master how to manage their
own emotions. They learn to read the buyer's emotions and show empathy to gain
trust.
Sales Prospecting
Forty-two percent of salespeople say prospecting is the hardest
part of selling, according to Lead Squared. Including programs that shed light
on prospecting and qualifying leads can help boost your sales.
When training is centered on prospecting, your sales reps
can learn key concepts, such as:
- Asking the right questions
- Shutting out the noisy voices of doubt and fear
- Screening and sifting through
prospects to narrow down leads
- Digging into connections and
referrals to get more qualified leads
Once salespeople catch how to prospect effectively, you can
sustain your sales. This can help you bring a constant flow of quality leads
into your sales pipeline.
Social Selling
Statista shows that a staggering 4.7 billion people actively
use social media. This makes it critical for salespeople to learn how to
utilize social media buzz to close more sales deals.
Including social selling in your sales training programs can
teach your team how to:
- Create and maintain a strong
social media presence to stand out in the crowded sales sphere.
- Connect and grow the company's
networks to build a reputation and gain referrals.
- Using social media platforms to research and qualify
prospects faster.
- Reach out to prospects and
meaningfully engage to develop relationships.
So, which network is best for social media sales? There's no
one-size-fits-all when it comes to social selling. Research your target
audience to find where they spend the most time. Then tailor your training to
help reps master how to stand out on these platforms.
Remember, the goal is not to bombard leads with spam
messages but rather to develop relationships that add value. It pays to train
reps to create conversations and maximize interactions organically.
Data from LinkedIn Sales Solutions shows that 78% of
businesses using social selling outsell those that shy away from social media.
Storytelling
Storytelling can be a powerful tool for salespeople.
According to Marketing Words, a good story sparks neural coupling. This is when
the brain's neurons fire in rhythm with the storyteller. In the process, the
body releases chemicals such as oxytocin. The brain responds to the story with
sympathy, care, compassion, and empathy, thus creating an emotional connection.
A story told correctly can be the pull factor that draws
prospects in and turns them into customers. Search Engine Watch says
storytelling can raise conversion rates by about 30%.
Stories also help leads and customers remember you.
Researchers at the London School of Business found that people retain only
5“10% of the information they're told when it's comprised of only statistics.
However, people remember 65“70% of the information when told through a story.
This is why it's important to make sure your training
materials cover key elements, such as:
- How to create a compelling
narrative.
- Ways to resonate with your
audience.
- How to keep your audience
hooked.
- Making vibrant presentations.
Consultative and Collaborative Selling
Statistics compiled by Anaeo reveal that:
- Sixty-five percent of business comes from existing
customers.
- Loyal customers are 5 times more likely to buy again.
- Satisfied buyers will refer a
friend to your business 40% of the time.
Making buyers feel heard can be one of the best ways to gain
customer loyalty and foster a sense of trust so buyers feel that reps are
looking out for them. Sellers can achieve this through collaborating and
consulting with buyers.
This involves listening to buyers' needs and giving valuable
insights. The goal is to show your customers how much you value them and that
you're not just chasing them for their money.
Consider teaching your reps to use collaborative selling so
they can learn how to:
- Listen effectively
- Read between the lines
- Get to the heart of the
customer's needs
- Build trust
- Engage and support buyers
With collaborative selling, your reps can build stronger
relationships with buyers. In response, buyers can be more likely to rave about
you and refer your business to others in their circles. Also, satisfied
customers are often more open to accepting upselling opportunities.
Improving your sales training programs
A survey by the Training Industry found that organizations
with sales training programs that exceeded expectations closed about 54% of
their forecast deals. In contrast, companies with training courses that needed
improvement had 56% of their potential sales fall through the cracks.
This tells us that it pays to empower your sales team
through a solid training program that stamps out poor sales and reinforces core
skills so they are committed to memory. When developing your program, consider
using key techniques such as sales negotiation and prospecting to get the
results you are looking for. In addition, you can up your game with social
selling and storytelling skills and train your salespeople on how to use a
collaborative approach to selling.
Using these tips and techniques can ramp up your training
programs to allow your business to soar above competitors.
