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Building Business Cases for Sales Training

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Improving the performance of the sales teams you already have is a strategic way to optimize your performance in 2016. View the complete presentation from Jim Dickie's recent webinar to learn more about the latest insights from CSO Insights research.

Published in: Sales
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Building Business Cases for Sales Training

  1. 1. Optimizing Sales Performance in 2016: Business Case for Sales Training
  2. 2. 2 © MHI Global, Inc. All Rights Reserved. • Sales Performance Research and Benchmarking Firm • Survey Thousands of Firms Each Year Worldwide • Focus on Understanding Challenges, Causes, and Solutions 2016 SPO Study Currently Underway Give Us your Input, We’ll Give You the 150+ Page Analysis Email me at Jim.dickie@csoinsights.com
  3. 3. 3 © MHI Global, Inc. All Rights Reserved. 40% 50% 60% 70% 2014 2013 2012 2011 2010 2009 58.1% 58.2% 63.0% 63.0% 59.4% 51.8% Percentage of Salespeople Making Quota 2009 - 2014
  4. 4. 4 © MHI Global, Inc. All Rights Reserved. So how’s that working for you? – Dr. Phil 94.5% of Firms Raised Goals
  5. 5. 5 © MHI Global, Inc. All Rights Reserved. Today we have a surplus of “similar” companies, employing “similar” people, with “similar” backgrounds, coming up with “similar” ideas, producing “similar” things, with “similar” quality & “similar” pricing! Kjell Nordström & Jonas Ridderstråhle – Funky Business
  6. 6. 6 © MHI Global, Inc. All Rights Reserved. Win Rate of Forecast Deals 45.9% 49.3% Seriously? Odds of Winning at Craps
  7. 7. 7 © MHI Global, Inc. All Rights Reserved. Multiple Decision Makers Multiple Influencers Multiple Agendas - Modern Buyers - Procurement Buyers - Generational Buyers - Old School Buyers - Stereotypical Buyers
  8. 8. 8 © MHI Global, Inc. All Rights Reserved. Sales Force Enablement: A strategic, cross-functional discipline designed to increase sales results and productivity by providing integrated content, training and coaching services for salespeople and frontline sales managers along the entire customer’s journey, powered by technology.
  9. 9. 9 © MHI Global, Inc. All Rights Reserved. Level 1: Level 2: Level 3: Level 4: Random Informal Formal Dynamic 13.2% of firms 45.3% of firms 26.8% of firms 14.7% of firms
  10. 10. 10 © MHI Global, Inc. All Rights Reserved. Trusted Partner Strategic Contributor Solutions Consultant Preferred Supplier Approved Vendor Random Process Informal Process Formal Process Dynamic Process
  11. 11. 11 © MHI Global, Inc. All Rights Reserved. Meets/Exceeds Expectations Needs Improvement 47.7% 52.3%
  12. 12. 12 © MHI Global, Inc. All Rights Reserved. Sales Training Meets Expectations: $2,489/Rep Sales Training Needs Improvement: $2,202/Rep Sales Training Exceeds Expectations: $2,885/Rep $673/Rep Difference Between NI and EE Groups
  13. 13. 13 © MHI Global, Inc. All Rights Reserved.
  14. 14. 14 © MHI Global, Inc. All Rights Reserved. Sales Training Meets Expectations: 47.3% Win Rate Sales Training Needs Improvement: 39.3% Win Rate Sales Training Exceeds Expectations: 52.3% Win Rate
  15. 15. 15 © MHI Global, Inc. All Rights Reserved. Understanding the Customer’s Buying Process Training: NI 29.8% Meets or Exceeds Training: EE 76.7% Meets or Exceeds
  16. 16. 16 © MHI Global, Inc. All Rights Reserved. Differentiation versus the Competition Training: NI 38.9% Meets or Exceeds Training: EE 83.6% Meets or Exceeds
  17. 17. 17 © MHI Global, Inc. All Rights Reserved. Align Solution to Customer Journey Training: NI 36.0% Meets or Exceeds Training EE 83.6% Meets or Exceeds
  18. 18. 18 © MHI Global, Inc. All Rights Reserved. Coaching on Pursuing Right Opportunities Training: NI 14.9% Meets or Exceeds Training: EE 78.9% Meets or Exceeds
  19. 19. 19 © MHI Global, Inc. All Rights Reserved. Coaching on Selling Value/Avoiding Discounting Training: NI 35.3% Meets or Exceeds Training: EE 80.0% Meets or Exceeds
  20. 20. 20 © MHI Global, Inc. All Rights Reserved. Training: NI Total Turnover 26.2% Training: ME/EE Total Turnover 14.1%
  21. 21. 21 © MHI Global, Inc. All Rights Reserved. $672/Rep Increased Investment Less Sales Force Churn Higher Margins Better Seller Buyer Alignment More Predictability More Revenues © MHI Global, Inc. All Rights Reserved.
  22. 22. 22 © MHI Global, Inc. All Rights Reserved. Build: 47.4% of Firms Buy: 52.6% of Firms
  23. 23. 23 © MHI Global, Inc. All Rights Reserved. Cost Adoption Impact Build Buy Ratings
  24. 24. 24 © MHI Global, Inc. All Rights Reserved. Cost Adoption Impact Build Buy Ratings  Difference of $67/Rep/Year Between Build and Buy Assume 100 Sales People Savings of $6,700/Year
  25. 25. 25 © MHI Global, Inc. All Rights Reserved. Cost Adoption Impact Build Buy Ratings  Sales Process Adoption: Level 3 – Formal or Level 4 Dynamic Build: 41.0% of Firms Surveyed Buy: 58.5% of Firms Surveyed 
  26. 26. 26 © MHI Global, Inc. All Rights Reserved. Cost Adoption Impact Build Buy Ratings    Sales Effectiveness Ratings as Related to Build Versus Buy Training: Build Training: Buy World-class Rating 4.5% 9.7% Very Effective Rating 7.1% 18.1% Effective Rating 36.5% 26.9%
  27. 27. 27 © MHI Global, Inc. All Rights Reserved. Cost Adoption Impact Build Buy Ratings     Percent of Overall Plan Attainment Build: 87.1% Buy: 90.4% $100M Company Generates $3.3M in Topline Revenue Why Build if You Can Buy?
  28. 28. 28 © MHI Global, Inc. All Rights Reserved.
  29. 29. 29 © MHI Global, Inc. All Rights Reserved. RESEARCH DATA EXPERTISE Research, Data and Expertise Sales Leaders Respect and Trust Globally. Best Practice Frameworks & Trends Sales Performance & Productivity Research Peer & Standard Benchmarking Assessment & Measurement Tools In-person & Online Executive Networking Advisory We provide sales analysis and decision making support to sales leaders: the individuals who are responsible for the creation and execution of the sales strategy.
  30. 30. 30 © MHI Global, Inc. All Rights Reserved. How Effectively are You Connecting with Your Clients? How Well are You Supporting Your Sales Teams? What is the “Cost of Doing Nothing” to Change?

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