How to make sales training stick

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<p>How to make sales training stick.Complimentary Webinar</p> <p>This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.19th November 2015 | David Nisbet</p> <p>1</p> <p>AgendaBackground/contextWhy sales training failsCritical success factors of an effective sales methodologyThe importance of coachingMeasurement and adoption metricsClosing thoughtsQuestions</p> <p> 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>2</p> <p>*Bersin by Deloitte - Corporate Learning Factbook 2014. http://www.bersin.com/corporate-learning-factbook-2014 </p> <p>over $130 Billion worldwide</p> <p>Companies spent on corporate training initiatives last yearof that $70 Billion was USA spend</p> <p>Just slightly less that the GDP of Greece or Finland but more than that of IrelandThe Corporate Learning Factbook 2014: Benchmarks, Trends, and Analysis of the U.S. Training MarketJosh Bersin, Deloitte3</p> <p>sales training initiatives have no lasting impact beyond 120 days*9 out of 10*Dave Stein, Sales Training: The 120-Day Curse (ES Research Group).</p> <p>The ForgettingCurve</p> <p>Hermann Ebbinghaus </p> <p>Hermann Ebbinghaus was a 19th-century German psychologist and a pioneer in the study of memory. His most well-known contribution was what he called "the learning curve" - a term we still use today. However, Ebbinghaus also proposed "the forgetting curve," showing how students forget more and more of what they've learned over time until there is almost nothing left. </p> <p>More recently Dave Stein for ES Research has put some pretty scary numbers to this field of reseach.</p> <p>4</p> <p>What is the worst sales training experience you can imagine?</p> <p>Question to the floor</p> <p>5</p> <p>Why sales training fails 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>Theory that cant be applied in the real worldLack of management buy-in and accountabilityPoor integration with existing processes (such as CRM systems)Little or no ongoing reinforcementNo measurement of indicators of successOne size does not fit allFailure to align sales training with strategic objectives</p> <p>Failure to align sales training with strategic objectives, corporate goalsAlthough the primary objective of training should be the development of individual knowledge, skills and competencies, what should really count is the resultant improvement in individual and/or collective performance needed to meet the unit/organization goals. ALWAYS ask the question; the is the Number ONE Business Issue or Challenge that we are trying to Achieve/Resolve e.g. Capture 50% of the widget market.That way the training initiative can get everyone pulling in the same direction. One size does not fit all by this I mean two things:generic sales training programs that doesnt take into account the status quo, industry trends, your business realityneed to make it real to the sales people examples and case studiesexisting knowledge (train in the gap) that is the key skills gaps that presently exist among your team. We really need to understand: what challenges, or problems they are facing? Ask the people that will be in the classroom - also what they feel would help them to be more successful? Focusing the training on these areas will deliver the best results and thereby improve sales conversation rates and performance. Is the training practical when you leave the classroom? (overcomplicated) The content needs to be simple, engaging and practicalTo master new selling skills, salespeople need one thing: practice! Mastery will never occur without practice regardless of the ease or difficulty of the subject. In his book, Outliers, Malcolm Gladwell contends that it takes roughly 10,000 hours to become skilled enough to be considered an expert in any area. Salespeople should take every opportunity to use their new skills right away. Managers need to be 100% onboard - Failure to Define, Support, and Drive Action walk the walk, set the example, help sales people visualise what best practice looks like. People do what you DO, NOT what you say.War Story management not fully bought in.Create an ecosystem in which learning and application of knowledge can thrive CRM integration, Reporting The technology has to be there to support the Sales Person and help them easily APPLY the training content. Which sounds obvious but there is software out there that actually hinders Sales people, making them spend time filling in data for managers rather than selling.Consistent reinforcement Blended learning, Evaluation, continuous improvement Measurement/KPIs measure what countsIf you can't measure it, you can't manage it. - Peter Drucker- Measure the RIGHT THINGS6</p> <p>Poll</p> <p>In your experience, which of these do you think is the biggest challenge? 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>7</p> <p>Sales Methodology Success Factors 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>Organizational focus on the value of solutions</p> <p>Comprehensive implementation plan</p> <p>Management coaching and reinforcement</p> <p>SuccessKeep it simple and straightforward (KISS)</p> <p>8An organizational focus on the value of solutionsKeep It Simple and Straightforward (KISS)Simple, Implementable and RepeatableComprehensive implementation planIntegration into Management ProcessIntegration into pipeline and opportunity management processesManagement coaching and reinforcement</p> <p>Change management approach 2015 ValueSelling Associates, Inc. All rights reserved.Prepareand AlignExecuteTransferOwnership/Measure</p> <p>9Focus on successful integration of our methodology into existing tools and processesNot just an eventCustomized content and tailored to the client Change management approach3 phases: Prepare and alignExecute Transfer ownership and measure</p> <p>Develop a tailored sales training program aligned with sales leadershipPrepare and Align 2015 ValueSelling Associates, Inc. All rights reserved.Build tailored materialsIdentify not only the content but delivery modelsIntegrate and leverage existing programs, tools and processesAlign sales leaders and line to the program</p> <p>10Identify not only the content but delivery models: eLearning, instructor-led, virtual instructor-led and blended approachesIntegrate and leverage existing programs, tools and processesAlign executive sales leaders and line sales management to the programBuild materials: Workbooks, facilitator guides, case study, simulations and role plays, and content for CRM best-practice</p> <p>Operationalise the sales training programExecute 2015 ValueSelling Associates, Inc. All rights reserved.eLearning pre-work a key component of rolloutSales Leadership Coaching programme an integral part of processMaterials highly customised to reflect real world situations</p> <p>11Identify not only the content but delivery models: eLearning, instructor-led, virtual instructor-led and blended approachesIntegrate and leverage existing programs, tools and processesAlign executive sales leaders and line sales management to the programBuild materials: Workbooks, facilitator guides, case study, simulations and role plays, and content for CRM best-practice</p> <p>Change management and transfer of ownership to the OrganisationTransfer Ownership/Measure 2015 ValueSelling Associates, Inc. All rights reserved.Integration of your methodology into existing sales management process and sales toolsImplementation of the eValuePrompter in CRM systemMeasurement of objectives leading and lagging indicators</p> <p>12Identify not only the content but delivery models: eLearning, instructor-led, virtual instructor-led and blended approachesIntegrate and leverage existing programs, tools and processesAlign executive sales leaders and line sales management to the programBuild materials: Workbooks, facilitator guides, case study, simulations and role plays, and content for CRM best-practice</p> <p>The importance of coaching 2015 ValueSelling Associates, Inc. All rights reserved.Sales Executive Council</p> <p>3 hours of coaching per month perform 15% to 17% better than their peers. Combining training and coaching improves productivity by 88%Improving coaching programs increases revenue by 19%</p> <p>Coaching Put to the Test In 1997, Olivero, Bane, and Kopelman conducted research into the impact of coaching on the outcomes from training programmes. Two groups of managers attended the same management training course. One group received the training. The other group also received a planned coaching programme over the next few weeks to complement the training. The group that received the training reported a significant increase in productivity, but the group that received the additional coaching reported an increase that was four times greater.</p> <p>Change is like baking a cake, several ingredients are required. Specifically, a mix of the following is required:Leadershipis required to get things started (it provides direction, inspiration and motivation).Coachingis essential to keeping things going (it provides the support and the empowerment).Trainingcreates awareness and provides skills that people are likely to need along the way.Leadership is focused on the why, while training is focused on the how. Coaching straddles both, which it why it plays a particularly important role.13</p> <p>10%UrgentThe enablement of sales talent </p> <p>20%70%80% of the sales force brings in 38% of therevenue</p> <p># of sales peopleHighCore PerformanceLowSource CSO Insights</p> <p> 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>The top 20%brings in 62%of the revenue!</p> <p>Stop at first build, before the bubbles come up and explain the bell curve , then make the point about the revenue (next build) our coaching goal is to move the frozen middle (some of the 70% into the High performer category)14</p> <p>How can you effectively measure return on investment? 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>ValueSelling is different than other sales training programs. Our associates work with you to tailor our workshops, e-learning, computer- and web-based tools and consulting services to your teams specific needs anytime and anywhere. Being a global company, we custom-design training for your companys language and location needs so that your sales force learns to accurately forecast, generate great leads, access decision-makers and land bigger contracts and orders. Within weeks of properly installing ValueSelling, youll experience a return on your investment. That ROI will grow as you increase sales productivity, performance, and customer retention. We do this through a unique combination of energetic on-site and online sales training workshops and tools to boost your sales skills and sales revenues. 15</p> <p>How can we tell if its working?Increased marginsLess discountingIncrease in revenueShorter sales cyclesIncrease in strategic account penetrationFewer calls required to close business Increased transaction sizeImprovement in % of deals closedIncrease in number of deals wonMutual value articulationIncrease in follow-up lettersIncrease in proposal presentations prior to submitting final offerUse of appropriate language during discussions of sales opportunitiesDrop in technical resources involved until opportunity qualified No evals/proposals released until ALL components uncoveredCertain sales reps turning around poor performanceThisleads to this16 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p> 2015 ValueSelling Associates, Inc. All rights reserved.Failure is successif we learn from it.Malcom Forbes</p> <p>Let me leave you with this. George Santayana wrote (in The Life of Reason, 1905) Churchill WWII</p> <p>At the end of todays webinarGo to valueselling.com &gt; resources &gt; webinars to download todays slides 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>18</p> <p>Visit the eStore at valueselling.comBooksValueSelling toolsOn-demand coursesComplimentary library of webinars and newsletters</p> <p> 2015 ValueSelling Associates, Inc. All rights reserved.</p> <p>19</p> <p> 2014 ValueSelling Associates, Inc. All rights reserved.</p> <p>20</p> <p>Thank you!David Nisbet | Managing Partner, UKdavid.nisbet@valueselling.com+ 44 7816 161 409</p> <p>uk.linkedin.com/in/davidjnisbet</p> <p>21</p>