HOW TO MEASURE THE IMPACT OF YOUR SALES ......HOW TO MEASURE THE IMPACT OF YOUR SALES TRAINING...
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HOW TO MEASURE THE IMPACT OF YOUR SALES TRAINING PROGRAM $ 70B spent on sales training last year $ 1 , 500 per salesperson Sales Training is a Priority for Companies in Every Industry Sales training is critical for a company’s success Your organization invests in sales training and you know it works. But it’s hard to measure the return on your expenses. See how you can prove the impact of your training and learn which companies are getting great results. 10 % by salespeople with high quality training HIGHER WIN RATES
Transcript of HOW TO MEASURE THE IMPACT OF YOUR SALES ......HOW TO MEASURE THE IMPACT OF YOUR SALES TRAINING...
HOW TO MEASURETHE IMPACTOF YOUR SALESTRAINING PROGRAM
$70Bspent on sales
training last year
$1,500per salesperson
Sales Training is a Priority for Companies in Every Industry
Sales training is critical for a company’s success Your organization invests in sales training and you know it works. But it’s hard to measure the return on your expenses. See how you can prove the
impact of your training and learn which companies are getting great results.
10%
by salespeople with high quality training
HIGHER WIN RATES
What Do You Want to Measure?
REVENUE SAVINGS RISK ENGAGEMENT
Your Challenge is to Prove What’s WorkingMany sales trainers can’t optimize learning or prove the value of their programs.
Calculate the impact of your sales training by measuring change in four areas
4 REASONSCompanies Can’t Prove Their ROI
Insufficient data Lack of insight intotop performers
Inability to connect training with results
Lagging indicators
Step 1Choose the Right Metrics
Step 2Analyze the Data
REVENUE METRICS
Time to First DealAverage Selling PriceAverage Contract ValuePercent Quota AttainmentPer Capita DealsAttrition
SAVINGS METRICS
Cost Per New HireOnboarding Days/LengthVenue Rental CostsTravel ExpensesTime Out of FieldOpportunity Costs: Revenue Per Rep Per Day
RISKMETRICS
Ratio of Cases vs. InquiriesIncidents Per YearCost Per IncidentNew Hire Certification TimeAnnual Compliance CompletionRemedial Training Cost and Time
ENGAGEMENT METRICS
Employee NPSAbsenteeismTurnover/RetentionNew Hire Onboarding TimeCoaching TimeProduction/Profitability
Look for Trends/Patterns
CompareTime Periods(M to M or Y to Y)
Pinpoint Successes and Challenges
Recognize Driversand Outliers
Step 3Prove Your Value
Use positive or negative change in these metrics to measure program effectiveness and show the impact of sales training on revenue, savings, risk or employee engagement.
ROI Winners
Learn how to prove the value of your sales training program atwww.allego.com/provingvalue
Maximizing ROI for your sales training initiatives requires planning, execution and the right software to help you get it done. See how these companies proved impact.
By cutting new rep time to first deal from 9 months to 5 months
55%By decreasing travel and expense for 150-person teamSAVED
$300KFASTER
By shortening sales boot camp by 1 week for 40 repsSAVED
$800K
By eliminating travel and expense for 55 repsSAVED
$190K
FASTER50%
Increased sales attributed to first year of trainingREVENUE
$1.6M
Reps prepared to sell in half the time
Allego’s mobile platform elevates performance by combining learning, content and collaboration into a single app. Nearly 200,000 professionals from the world’s best sales teams use Allego to onboard faster, deliver consistent messaging, adopt best practices, coach and practice more frequently, and collaborate more effectively. Find out more at www.allego.com
Sources:https://hbr.org/2017/06/your-sales-training-is-probably-lackluster-heres-how-to-fix-ithttps://www.csoinsights.com/wp-content/uploads/sites/5/2016/08/Business-Case-For-Sales-Training.pdfhttps://spotio.com/blog/sales-statistics/#salestraininghttps://www.complianceweek.com/download?ac=5543https://assets.kpmg/content/dam/kpmg/us/pdf/2018/12/ten-key-regulatory-challenges-pov-v5-web.pdf
