Building Business Cases for Sales Training

Optimizing Sales Performance in 2016:Business Case for Sales Training

2© MHI Global, Inc. All Rights Reserved.

CSO INSIGHTS

• Sales Performance Research and Benchmarking Firm

• Survey Thousands of Firms Each Year Worldwide

• Focus on Understanding Challenges, Causes, and Solutions

2016 SPO Study Currently UnderwayGive Us your Input,

We’ll Give You the 150+ Page AnalysisEmail me at [email protected]


THE UPS AND DOWNS OF B2B SALES

2014 2013 2012 2011 2010 200940%

50%

60%

70%

58.1% 58.2%

63.0% 63.0%

59.4%

51.8%

Percentage of Salespeople Mak-ing Quota

2009 - 2014


AND THE HITS JUST KEEP ON COMING

And in the Face of Declining Performance, What Did We Do?

So how’s that working for you? – Dr. Phil

94.5% of Firms Raised Goals


TODAY’S SALE CHALLENGES: THE NEW MARKETPLACE REALITY???

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


TODAY’S SALES CHALLENGES: GETTING TO YES

Win Rate of Forecast Deals

45.9%

49.3%Seriously?

Odds of Winning at Craps


TODAY’S SALES CHALLENGES: NO “ONE” BUYER

Multiple Decision Makers

Multiple Influencers

Multiple Agendas - Modern Buyers - Procurement Buyers - Generational Buyers - Old School Buyers - Stereotypical Buyers


THE SALES ENABLEMENT TRANSFORMATION

Sales Force Enablement: A strategic, cross-functional discipline

designed to increase sales results and productivityby providing integrated content, training and coaching services for salespeople and frontline sales managers

along the entire customer’s journey,powered by technology.


CSO INSIGHTS LEVELS OF SALES PROCESS

Level 1: Level 2:

Level 3: Level 4:

RandomInformal

FormalDynamic

13.2%of firms

45.3% of firms

26.8% of firms

14.7% of firms


ADDING RELATIONSHIPS INTO THE EQUATION

Trusted Partner

Strategic Contributor

Solutions Consultant

Preferred Supplier

Approved Vendor

Random Process

Informal Process

Formal Process

Dynamic Process


WHEN ASKED TO RATE THE EFFECTIVENESS OF SALES TRAINING

Meets/Exceeds Expectations

Needs Improvement

47.7%

52.3%


TOTAL TRAINING INVESTMENTS DIFFERENCES

Sales TrainingMeets Expectations:

$2,489/Rep

Sales TrainingNeeds

Improvement:$2,202/Rep

Sales TrainingExceeds Expectations:

$2,885/Rep

$673/Rep DifferenceBetween NI and EE Groups


SALES TRAINING: THE DOING IT RIGHT ADVANTAGE


SALES TRAINING WIN RATE ASSESSMENT

Sales TrainingMeets Expectations:

47.3% Win Rate

Sales TrainingNeeds

Improvement:39.3% Win Rate

Sales TrainingExceeds Expectations:

52.3% Win Rate


WHAT GETS BETTER?

Understanding the Customer’s Buying Process

Training: NI29.8% Meets

or Exceeds

Training: EE76.7% Meets

or Exceeds


SALES PERSON EFFECTIVENESS: WHAT GETS BETTER?

Differentiation versus the Competition


or Exceeds


or Exceeds


SALES PERSON EFFECTIVENESS: WHAT GETS BETTER?

Align Solution to Customer Journey


or Exceeds

Training EE83.6% Meets

or Exceeds


SALES MANAGEMENT COACHING EFFECTIVENESS: WHAT GETS BETTER?

Coaching on Pursuing Right Opportunities


or Exceeds


or Exceeds


Coaching on Selling Value/Avoiding Discounting


or Exceeds


or Exceeds

SALES MANAGEMENT COACHING EFFECTIVENESS: WHAT GETS BETTER?


MAJOR BONUS OF PROVIDING GREAT TRAINING SUPPORT

Training: NITotal Turnover

26.2%

Training: ME/EETotal Turnover

14.1%


WHAT DOES SOLID SALES TRAINING GET YOU?

$672/Rep Increased Investment

Less Sales Force ChurnHigher Margins

Better Seller Buyer AlignmentMore Predictability

More Revenues

© MHI Global, Inc. All Rights Reserved.


THE QUESTION OF BUILD VERSUS BUY

Build: 47.4% of Firms Buy: 52.6% of Firms


Cost

Adoption

Impact

Build Buy

Ratings

SALES TRAINING: BUILD VERSUS BUY


Cost

Adoption

Impact

Build Buy

Ratings

Difference of $67/Rep/Year

Between Build and Buy

Assume 100 Sales PeopleSavings of $6,700/Year



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



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%



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?



2016 Revenue Targets

It’s okay to raise

the bar …

As long as you

raise performance


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.

CSO INSIGHTS


THREE QUESTIONS FOR YOU TO ANSWER

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?

Building Business Cases for Sales Training

Sales

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