What should you pay for sales training?

For many companies, sales training is a lot of money, especially for companies that offer sales training. From new car dealers to manufacturers, keeping salespeople motivated and driving these sales is a daily challenge. But as the CEO of the sales manager, what should you pay for the sales training? So please read why my answer depends.

Before any sales manager, a C-level manager's HR professional decides to invest in sales training, he needs to answer this question: What results do I expect from this sales training?

Now the problem seems simple, but I find that many decision makers can't fully answer this question. The usual immediate response is more sales, more bank money, and more customers. Is this the actual end result?

For example, you are a new car dealer and want to sell more units. Your salesman does not sell cars. However, even if research supports reduced traffic and salespeople need to sell dealers, you also require salespeople to be present.

Therefore, investing in any training of your employees to better market your sales training is actually a waste of dollars. The real problem is management, which may lack consistency and poor organizational communication.

Perhaps the result you hope is that you want your sales staff to be more efficient. In many cases, salespeople waste a lot of time due to lack of planning. Rather than investing in expensive national public seminars, the cost ranges from $1,500 to over $2,000. Maybe you should look at a local time management seminar that makes it easy to incorporate some basic sales techniques into time management. Similarly, this sales training investment should be between $500 and $750, depending on the local provider. National public seminars for the CEU cost between $1,500 and $1,800.

Another way to justify your sales training funding is to look at the value of each new customer and the value of existing customers. In many cases, poor customer service makes salespeople or salespeople more difficult. No matter how much sales training your employees receive when they support the customer, the problem is not sales training, but customer service training to better strategic planning and organizational communication.

The question you need to ask yourself is: How much does it cost to lose a customer? When talking to potential new customers, I learned that the average value of each new customer exceeded $150,000. With 10 staff members, even if they pay $5,000 per person, they can get a 2-1 return for every dollar invested to ensure the safety of a new customer. [No, I didn't charge $5,000 per person.]

Another customer wants to add a new salesperson. Taking such action will result in the loss of an additional $60,000 to the bottom line. However, by providing some sales training, time management training and customer service training to the existing four salespeople, $3,000 per person, you can ensure a 1:1 return for every dollar invested.

The cost of any sales training needs to be balanced against the expected results, and in fact the real problem should be solved, not the symptoms that the organization faces. What I have experienced and observed is that poor sales are usually caused by many factors including management. If you are considering sales training, make sure you understand the results and make sure they are positively measured and managed.

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