Building Business Cases for Sales Training
-
Upload
cso-insights -
Category
Sales
-
view
801 -
download
1
Transcript of Building Business Cases for Sales Training
![Page 1: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/1.jpg)
Optimizing Sales Performance in 2016:Business Case for Sales Training
![Page 2: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/2.jpg)
2© MHI Global, Inc. All Rights Reserved.
CSO INSIGHTS
• Sales Performance Research and Benchmarking Firm
• Survey Thousands of Firms Each Year Worldwide
• Focus on Understanding Challenges, Causes, and Solutions
2016 SPO Study Currently UnderwayGive Us your Input,
We’ll Give You the 150+ Page AnalysisEmail me at [email protected]
![Page 3: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/3.jpg)
3© MHI Global, Inc. All Rights Reserved.
THE UPS AND DOWNS OF B2B SALES
2014 2013 2012 2011 2010 200940%
50%
60%
70%
58.1% 58.2%
63.0% 63.0%
59.4%
51.8%
Percentage of Salespeople Mak-ing Quota
2009 - 2014
![Page 4: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/4.jpg)
4© MHI Global, Inc. All Rights Reserved.
AND THE HITS JUST KEEP ON COMING
And in the Face of Declining Performance, What Did We Do?
So how’s that working for you? – Dr. Phil
94.5% of Firms Raised Goals
![Page 5: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/5.jpg)
5© MHI Global, Inc. All Rights Reserved.
TODAY’S SALE CHALLENGES: THE NEW MARKETPLACE REALITY???
Today we have a surplus of “similar” companies,employing “similar” people,with “similar” backgrounds,
coming up with “similar” ideas,producing “similar” things,
with “similar” quality & “similar” pricing!
Kjell Nordström & Jonas Ridderstråhle – Funky Business
![Page 6: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/6.jpg)
6© MHI Global, Inc. All Rights Reserved.
TODAY’S SALES CHALLENGES: GETTING TO YES
Win Rate of Forecast Deals
45.9%
49.3%Seriously?
Odds of Winning at Craps
![Page 7: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/7.jpg)
7© MHI Global, Inc. All Rights Reserved.
TODAY’S SALES CHALLENGES: NO “ONE” BUYER
Multiple Decision Makers
Multiple Influencers
Multiple Agendas - Modern Buyers - Procurement Buyers - Generational Buyers - Old School Buyers - Stereotypical Buyers
![Page 8: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/8.jpg)
8© MHI Global, Inc. All Rights Reserved.
THE SALES ENABLEMENT TRANSFORMATION
Sales Force Enablement: A strategic, cross-functional discipline
designed to increase sales results and productivityby providing integrated content, training and coaching services for salespeople and frontline sales managers
along the entire customer’s journey,powered by technology.
![Page 9: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/9.jpg)
9© MHI Global, Inc. All Rights Reserved.
CSO INSIGHTS LEVELS OF SALES PROCESS
Level 1: Level 2:
Level 3: Level 4:
RandomInformal
FormalDynamic
13.2%of firms
45.3% of firms
26.8% of firms
14.7% of firms
![Page 10: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/10.jpg)
10© MHI Global, Inc. All Rights Reserved.
ADDING RELATIONSHIPS INTO THE EQUATION
Trusted Partner
Strategic Contributor
Solutions Consultant
Preferred Supplier
Approved Vendor
Random Process
Informal Process
Formal Process
Dynamic Process
![Page 11: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/11.jpg)
11© MHI Global, Inc. All Rights Reserved.
WHEN ASKED TO RATE THE EFFECTIVENESS OF SALES TRAINING
Meets/Exceeds Expectations
Needs Improvement
47.7%
52.3%
![Page 12: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/12.jpg)
12© MHI Global, Inc. All Rights Reserved.
TOTAL TRAINING INVESTMENTS DIFFERENCES
Sales TrainingMeets Expectations:
$2,489/Rep
Sales TrainingNeeds
Improvement:$2,202/Rep
Sales TrainingExceeds Expectations:
$2,885/Rep
$673/Rep DifferenceBetween NI and EE Groups
![Page 13: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/13.jpg)
13© MHI Global, Inc. All Rights Reserved.
SALES TRAINING: THE DOING IT RIGHT ADVANTAGE
![Page 14: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/14.jpg)
14© MHI Global, Inc. All Rights Reserved.
SALES TRAINING WIN RATE ASSESSMENT
Sales TrainingMeets Expectations:
47.3% Win Rate
Sales TrainingNeeds
Improvement:39.3% Win Rate
Sales TrainingExceeds Expectations:
52.3% Win Rate
![Page 15: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/15.jpg)
15© MHI Global, Inc. All Rights Reserved.
WHAT GETS BETTER?
Understanding the Customer’s Buying Process
Training: NI29.8% Meets
or Exceeds
Training: EE76.7% Meets
or Exceeds
![Page 16: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/16.jpg)
16© MHI Global, Inc. All Rights Reserved.
SALES PERSON EFFECTIVENESS: WHAT GETS BETTER?
Differentiation versus the Competition
Training: NI38.9% Meets
or Exceeds
Training: EE83.6% Meets
or Exceeds
![Page 17: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/17.jpg)
17© MHI Global, Inc. All Rights Reserved.
SALES PERSON EFFECTIVENESS: WHAT GETS BETTER?
Align Solution to Customer Journey
Training: NI36.0% Meets
or Exceeds
Training EE83.6% Meets
or Exceeds
![Page 18: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/18.jpg)
18© MHI Global, Inc. All Rights Reserved.
SALES MANAGEMENT COACHING EFFECTIVENESS: WHAT GETS BETTER?
Coaching on Pursuing Right Opportunities
Training: NI14.9% Meets
or Exceeds
Training: EE78.9% Meets
or Exceeds
![Page 19: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/19.jpg)
19© MHI Global, Inc. All Rights Reserved.
Coaching on Selling Value/Avoiding Discounting
Training: NI35.3% Meets
or Exceeds
Training: EE80.0% Meets
or Exceeds
SALES MANAGEMENT COACHING EFFECTIVENESS: WHAT GETS BETTER?
![Page 20: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/20.jpg)
20© MHI Global, Inc. All Rights Reserved.
MAJOR BONUS OF PROVIDING GREAT TRAINING SUPPORT
Training: NITotal Turnover
26.2%
Training: ME/EETotal Turnover
14.1%
![Page 21: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/21.jpg)
21© MHI Global, Inc. All Rights Reserved.
WHAT DOES SOLID SALES TRAINING GET YOU?
$672/Rep Increased Investment
Less Sales Force ChurnHigher Margins
Better Seller Buyer AlignmentMore Predictability
More Revenues
© MHI Global, Inc. All Rights Reserved.
![Page 22: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/22.jpg)
22© MHI Global, Inc. All Rights Reserved.
THE QUESTION OF BUILD VERSUS BUY
Build: 47.4% of Firms Buy: 52.6% of Firms
![Page 23: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/23.jpg)
23© MHI Global, Inc. All Rights Reserved.
Cost
Adoption
Impact
Build Buy
Ratings
SALES TRAINING: BUILD VERSUS BUY
![Page 24: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/24.jpg)
24© MHI Global, Inc. All Rights Reserved.
Cost
Adoption
Impact
Build Buy
Ratings
Difference of $67/Rep/Year
Between Build and Buy
Assume 100 Sales PeopleSavings of $6,700/Year
SALES TRAINING: BUILD VERSUS BUY
![Page 25: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/25.jpg)
25© MHI Global, Inc. All Rights Reserved.
Cost
Adoption
Impact
Build Buy
Ratings
Sales Process Adoption:
Level 3 – Formal or Level 4 Dynamic
Build: 41.0% of Firms Surveyed
Buy: 58.5% of Firms Surveyed
SALES TRAINING: BUILD VERSUS BUY
![Page 26: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/26.jpg)
26© MHI Global, Inc. All Rights Reserved.
Cost
Adoption
Impact
Build Buy
Ratings
Sales Effectiveness Ratings as Related to Build Versus Buy
Training: Build
Training: Buy
World-class Rating 4.5% 9.7%
Very Effective Rating 7.1% 18.1%
Effective Rating 36.5% 26.9%
SALES TRAINING: BUILD VERSUS BUY
![Page 27: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/27.jpg)
27© MHI Global, Inc. All Rights Reserved.
Cost
Adoption
Impact
Build Buy
Ratings
Percent of Overall Plan Attainment
Build: 87.1%
Buy: 90.4%
$100M Company Generates $3.3M in Topline Revenue
Why Build if You Can Buy?
SALES TRAINING: BUILD VERSUS BUY
![Page 28: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/28.jpg)
28© MHI Global, Inc. All Rights Reserved.
2016 Revenue Targets
It’s okay to raise
the bar …
As long as you
raise performance
![Page 29: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/29.jpg)
29© MHI Global, Inc. All Rights Reserved.
RESEARCH DATA EXPERTISE
Research, Data and Expertise Sales Leaders Respect and Trust Globally.
Best Practice Frameworks & Trends
Sales Performance & Productivity Research
Peer & Standard Benchmarking
Assessment & Measurement Tools
In-person & Online Executive Networking
Advisory
We provide sales analysis and decision making support to sales leaders: the individuals who are responsible for the creation and
execution of the sales strategy.
CSO INSIGHTS
![Page 30: Building Business Cases for Sales Training](https://reader034.fdocuments.us/reader034/viewer/2022051520/589e684a1a28ab1a548b5c0d/html5/thumbnails/30.jpg)
30© MHI Global, Inc. All Rights Reserved.
THREE QUESTIONS FOR YOU TO ANSWER
How Effectively are You Connecting with Your Clients?
How Well are You Supporting Your Sales Teams?
What is the “Cost of Doing Nothing” to Change?