Your SPM and Training in Sales Investments Won’t Give You A Sustainable Advantage
According to Gartner, the SPM (Sales Performance Management) space will grow at more than 25% per year between now and 2018. This means that, by then, companies will be spending roughly $5 Billion on tools to help their salespeople deliver better results. This is in addition to the approximately $35 Billion they will be spending on CRM solutions. It’s a massive investment that will only yield a return commensurate with the competitive advantage gained. Therein lies the problem. Is training in sales really worth it?
Better Tools Don’t Always Produce a Better Result
Equipping your team with the latest CPQ solution or sales enablement technology will allow them to perform better. These tools improve sales EFFICIENCY, not sales EFFECTIVENESS. While they help people get the information they need faster, they don’t necessarily help engage customers in a more effective manner. And it is this engagement that is at the very heart of sales effectiveness. To improve the sales engagement we must develop the skill and knowledge of sellers. Otherwise, we are providing state-of-the-art weaponry to soldiers who don’t know how to use it!
Sales Training is Not the Answer
It stands to reason that combining high-quality sales training with the latest SPM technologies leads to a competitive advantage. Unfortunately, most companies have years, if not decades of practical experience that proves otherwise. Traditional, event-based sales training simply doesn’t work for the majority of salespeople. A small percentage will apply what they learn from attending these events. But as many as 90% get no lasting value for time spent training. This is time that should be spent selling.
Key to Sustainable Advantage is Sustainable Improvement
The good news is that there is a better approach. This method delivers sustainable advantages. Leverage your existing CRM to support sales effectiveness and deliver ongoing learning and development. This simultaneously improves the efficiency and effectiveness of your team. Technology is available that helps sellers better manage opportunities and accounts. Additionally, this tech increases win rates, helps managers have more effective coaching conversations, and improves the skills and knowledge of your team. Moreover, all this can be accomplished for the same price as a single training event!
Better learning, better coaching, better selling. Let us show you how to develop a sustainable competitive advantage for your team.