The Era of Sales Intelligence: Training Your Reps Smarter
Today, more sales organizations than ever are investing in training tools. However, the number of obtained sales goals has only increased minimally—from 31% to 34% in 2017. In fact, there is a correlation between an increase in spending on training tools and a decrease in sales team performance. How is this possible?
In the past two years, less than 1/3 of organizations said that their sales goals were met. These include increasing revenue and new accounts. What sales teams need is to invest in the right thing; a sales intelligence tool with smarter training. Here are a few reasons why a sales intelligence system is your answer to better training and increased sales performance:
A study by CSO Insights found that the main factor for declining sales productivity is poor value communication. However, tools such as call recording, speech analytics, and activity tracking enable sales leaders to recognize talent based on accurate data. This allows for the delivery of targeted training based on 100% accurate data.
For example, sales intelligence with speech analytics can point out the underlying causes of poor value communication and help managers track these statistics. Resultingly, managers can work on creating clearer communication between reps and prospects to produce more desirable results.
Coach to a Standard
Sales coaching reinforces sales enablement. Adopting a formal coaching process can be linked to better adoption and reinforcement of sales enablement tools, and can result in a 27.6% improvement in win rates for sales teams. Interestingly enough, less than 1/3 of sales organizations have a dynamic coaching process that connects sales coaching to sales enablement.
Sales coaching and mentoring have been found to have more long-term effects than introductory seminar-style training sessions, which lose their effect around 6-8 weeks. Sales intelligence tools, on the other hand, provide managers with the accurate data needed to manage and create results over time.
Train and Maintain with Sales Intelligence
Not surprisingly, 34% of salespeople are finding that closing deals keep getting harder. Clearly, there is a need for smarter coaching and management to reinforce effective behaviors across sales teams.
Implementing a sales intelligence system is the smarter choice. It kills two birds with one stone by providing managers with the accurate data they need to better coach their teams, and secondly, allows them to maintain this behavior over time.