Sales coaching is sometimes overlooked by many businesses for the main reason that many believe it is something a person must be born with. We sometimes hear people talk about the “gift of gab” or being a “natural born” salesperson; however there could be nothing further from the truth.
Surprisingly many believe a good sales person is one who has the ability to not miss a beat when pitching a deal, or one who has the ability to turn the act of selling into an entertaining spectacle; however the definition is much more simple…a sales person is a person who can SELL! Understand this my friend…if there are no sales being made then what is the purpose of it all?
In my early years of being a purchasing manager there was nothing more infuriating than buying what was perceived to be “fast moving” stock, only to have it become a camping ground for spiders and other vermin as the months passed by. Let’s face it…poor performing sales people makes us look bad, and that’s why it is in your best interest to ensure your have the best possible sales team available.
Why Is Sales Coaching Important
Ok, now brace yourself for the #1 thing many business owners hate to hear which is “a dedicated sales team should have a dedicated sales coach”. Some business owners see a sales coach as an “unwanted” expense, but how can it be an “unwanted” expense if it has the ability to literally double your yearly revenue? I mean seriously folks…am I missing something here or isn’t the goal of running a business to make money? Recent research from the Corporate Executive Board Company stated that sales teams who received just three (3) hours of training per month exceeded their goals by 7%, boosted revenue by 25% and increased the average close rate by 70%.
The above statistics are based on only three (3) hours of training per month! I am sometimes amazed at how some businesses expect optimum sales results without providing the correct environment for their team. It is important to realise that the art of selling is different to say the art of “accounting”. Why do I say this? Well in order for a sales person to perform at a high level they will need to first maintain a good attitude, display a high level of confidence and have exceptional people skills. Note I said “they will first need…” Now ask yourself if the accountant needs these attributes to excel in their daily duties. The answer is “no”, as accounting doesn’t particularly require an extremely high level of personal engagement.
It doesn’t take much to realise that in order for something to grow abundantly you must first create the correct environment. That correct environment is what’s created when routine sales coaching is put into the mix.
Why You Should Invest Time & Resources In Sales Coaching
Have you ever heard the saying “you can only take out what you put in”? Well this is pretty much a tenet when it comes to sales. Lack of effort equals poor to average results, and the same is true when there is a lack of training.
Speaking of a lack of training do take a look at the video below to get an example of how some businesses motivate their sales team. If this video feels familiar you may really want to consider the options below the video.
Below are a few considerations which may prompt you to give your sales team the additional help they need to make your business more profitable.
Creating Top Performers
A study from HBR shows that even world class coaching has little effect on the weakest or strongest in the sales team. The sales persons in the middle bracket are those who have the potential and incentive to eventually become top performers.
Sales coaching creates a learning environment and emphasizes the importance of meeting company goals and expectations. It is a reminder for the sales team to take their job seriously, and to remember what is expected of them on a daily basis. When the sales team sees improvement in their sales performance it forms a bond of trust and mutual respect between the company and the sales team. Sales teams always feel obligated to perform when they realise the company is investing time and money to assist them in accomplishing their goals.
Retain Talent & Reduce Turnover Rate
A recent Aberdeen Group study shows that on average it takes about 7 months and almost $30,000.00 to fully recruit/train a new sales rep. Besides that the cost of losing a sales rep can be anywhere between 1.5 – 2 times the sales rep’s salary. Sales coaching maintains a level of performance which is beneficial to all parties involved.
All surveys and statistics have showed that sales teams perform better with routine sales coaching. Even if you started at the suggested minimum of 3-4 hours a week…would it be worth it to gain a 25 percent increase in your current revenue?
Should you require an experienced sales coach who can train, develop and implement sales strategies to improve your company’s performance please feel free to Contact Us for more details. We look forward to working with you.
– To your success