Only 16% of all sales training is retained after 90 days, which is why consistent training is one of the most effective ways to ensure that reps are successful over the phone.
The reality is this; a rep that lacks or doesn’t retain training or tips brings no value to your team. However, starting with a well-defined on onboarding process and continuous weekly or monthly training sessions, management can ensure that both their seasoned reps and new hires are on the right track to successful cold calling and deal closing.
Here are a few reasons we believe a structured training program will improve performance and increase revenue at your organization:
Structured Sales Training
To successfully implement a structured sales training program, start by figuring out what works. To start, measure call activity to know where your reps stand, and use these insights to create a model of success for reps. Introducing new employees to a proven training program will ensure your organization will not waste valuable, revenue-generating time onboarding new reps.
Next, managers should identify which behaviors generate desired outcomes over the phone. Look at the behaviors of your top performers such as the number of calls they make, the length of conversations, what words or phrases they use over the phone, and how many appointments are booked. From there, a manager can use these numbers to set standards for new employees or underperformers.
Further, letting reps listen in to the calls of successful reps will give a concrete, real-life example of why they should adopt these behaviors – and therefore they will be more likely to retain (and believe) the information presented during training sessions.
Setting expectations for reps from the get-go is vital to maintaining performance standards. To compare, companies with a training retention plan have 31% more sales reps reach quota than the industry average and have a 10% higher year-over-year increase in corporate revenue.
Communicate expectations with reps at weekly or monthly team meetings, and if possible at one-on-one meetings between rep and manager. Reps should never be in the dark when it comes to how many calls they should be making or how many appointments they need to set. The best way to manage the expectations you hold for reps is to implement technology to automatically reinforce the processes and principles taught in training on a daily basis. Sales tools with performance dashboards can further foster a sense of healthy competition and accountability amongst your team.
Finally, provide feedback to your reps, whether they are hitting their numbers or not. All of this will create a culture of accountability between reps and managers – which will likely result in both improved attitude, effort, and performance.
Training Towards Success
A lack of management can be the difference between crushing quota and having a lousy month. An increase in rep performance means increased revenue, so do not be afraid to use resources to build a highly structured training program for your team. In fact, almost 75 percent of sales organizations waste resources (CSO Insights, 2014) due to random and informal coaching approaches.
Investing in smarter training programs will only escalate rep success and cultivate an environment of accountability. As a sales manager, implement these strategies and you will surely see rep and team performance skyrocket at your organization!