Sales Training
30 articles on Sales Training.
Medical Sales: What is the right strategy?
You would think that because medical products and devices are sold with the best intentions and provide essential assistance to countless individuals, this would be an easy and straightforward industry to trade in. But in many respects, this couldn’t be further from the truth, as market challenges and ever-changing legislation throw up various obstacles that need to be overcome. The United States is a particularly interesting example to look at. According to The US Medical Device Industry in 2012: Challenges at Home and Abroad study, the industry is worth a whopping $350 billion. The US dominates this market, with 32 of the $1 billion+ medical device firms located here, serving around 40 per cent of the world. But at the same time, “unprecedented challenges” such as new regulations also exist, which could threaten the United States’ position as a global leader. While this could enable other countries and companies to gain ground, things like excise tax on medical device sales has already resulted in more than 33,000 jobs being cut, which could have a damaging knock-on effect for the industry as a whole. This may only affect certain companies in the United States, but it is fair to say that
How to be motivational in a sales environment
Irrespective of how productive and prosperous your sales team may be at the best of times, there are bound to be occasions when they lack drive, enthusiasm and motivation. In other job roles and lines of work, this is not a major problem but when it comes to sales, insufficient inspiration can have damaging and detrimental consequences. Despite the fact most sales teams are sufficiently stimulated by the prospect of greater commission and climbing the career ladder, it is natural to feel a little weary or fatigued when endlessly trying to close deals. For this reason, creating a motivational environment has become top priority for numerous sales managers. This is easier said than done for most but there are some tried and tested solutions you can pursue. First off, you will need to identify potential problems that could be causing a distinct absence of enterprise. From there, you can attempt to overcome these obstacles by implementing a few changes or coming up with a whole new approach towards sales. However, you shouldn’t rest on your laurels and think that this strategic shift will last forever, as the attitude of your sales team could change. Therefore, you will also need to
Dos and Don’ts of Successful Automotive Sales Training
For a great deal of people, buying a new or used car will be the most exciting purchase they ever make. Not only used as a vital method of transportation, cars are a sought after status symbol, which tell other road users that you exude certain characteristics. However, some buyers will be more interested in safety and practicality if their desired vehicle is for taxiing the family around. On the other hand, budget-conscious motorists may prefer reliability and value for money, which are equally important features. But regardless of the purchaser that shows up at a dealership or showroom, the automotive sales staff on duty will need to possess certain traits and attributes too. With any luck, these will be inherent and natural skills, which come as second nature to the individual in question. Still, this isn’t always the case and some employees will need additional training to serve the wants and needs of the customer. But the very nature of the automotive industry requires a different approach to other sales-orientated sectors. Choose the right strategy and your forecourt will have to be constantly replenished with new stock. Get it wrong however and those tight profit margins could be getting
Training sales managers to coach employees successfully
Despite your best intentions, traditional training methods are no longer relevant or rousing for sales staff. In the past, teaching and coaching was designed to improve employee expertise on an individual level. More often than not this would assess their performance, identify knowledge or skills gaps, develop a plan of action, implement this strategy, assess employee progress and then repeat for other members of staff. While this approach can go some way in enhancing competence, it doesn’t inspire a long-lasting change for the entire sales force. What’s more, it means that sales managers can become complacent and stagnant when conveying their own experience and knowledge. While the professionalism and proficiency of senior staff should be passed on to junior employees, it is also imperative to train sales managers so they can coach employees successfully. That way, their combination of wisdom and worldliness can always be capitalised on. Not only does this increase the confidence and capabilities of every employee, it can also go a long way in securing more sales and meeting organisational objectives. But how do you go about training sales managers? Problems associated with sales managers that coach The biggest trap that a lot of business fall into
Creating mortgage sales success
Staying ahead in the mortgage market is something no lender or broker can afford to ignore. Figures from the Council of Mortgage Lenders show 40,600 loans were granted in February 2015, worth a value of £6.8 billion to the industry. This is a big market, and it’s becoming increasingly difficult to get a slice of. The key point to consider is that borrowers have a choice of who they turn to for their mortgage. Simply offering competitive products isn’t enough, which is why you will need to be creative when it comes to your sales strategies. It’s essential to stand out from the crowd for all the right reasons, but how can you ensure that this is the case? First impressions count As the saying goes, you only have seven seconds to make a good first impression, and this is certainly true for the nation’s mortgage lenders. Meeting clients face to face is the ideal opportunity to show that you’re the lender for them. It might sound obvious, but simple steps such as shaking their hand and giving eye contact can all work in your favour. It also pays to be polite and make customers feel welcome. Although you might
Leadership training can help to boost sales
Effective leadership can be make or break for an organisation. Having someone who is great at their job heading up a business is just what it needs to move in the right direction, but as with every role, it’s essential not to stop learning. The fact is that the corporate world is changing all the time, bringing new challenges that even the most experienced of leaders can find it difficult to overcome. This is where training really comes into its own. Staying ahead of the curve and being able to deal even with the most contemporary of challenges is just what a business needs to remain relevant and competitive. Of course, a competitive business will also see its sales increase, not least because customers recognise the added value that is on offer. Getting to this stage, however, requires ongoing training for even the most effective of managers. Here are some areas in which you might want to focus your attention for improved sales success. Get recruitment right The first step to boosting sales is to make sure you have the right staff on side. This may involve taking a closer look at your recruitment strategies, and if there is room
Banking sales: Why training matters
Seeing as the financial industry has received a fair bit of criticism and negative press in recent years, banks are finding it more and more difficult to attract customers and achieve sales. Certain sections of the general pubic are becoming increasingly disillusioned with how the city works and don’t have much faith in the majority of today’s biggest banking institutions. On top of that, most customers prefer to bank online, as this is much easier and convenient. Few have the time or inclination to go into their local branch in order to see account statements, apply for a loan, transfer money or speak to an adviser. Therefore, new and novel approaches are often required to gain trust and secure business. But how can this be achieved? Well, it starts with training and coaching your sales team. These employees remain pivotal to a bank’s success, even if numerous branches are deciding to adjust their operating models so that sales staff double up as cashiers or customer service representatives. Changes like this might improve efficiency, but they will do little to increase turnover and boost bottom-line performance. This is only possible by having a confident and competent sales team, capable of taking
How to make B2B sales training more engaging
Despite the fact that B2B sales training has good intentions, members of staff can struggle to see this. For them, it means being away from their desks and missing out on commissions to watch powerpoint presentations and listen to a lecturer. This doesn’t benefit anyone. The business will waste valuable capital on pointless teaching while employees will grow disillusioned with their job roles. Therefore, more and more organisations are starting to adjust their outlook on B2B sales training and adopt new approaches. But how can you get your workforce excited about training and more engaged when learning new skills or expertise? Well, here are some suggestions. Inject excitement by introducing games While making lucrative sales and closing in on deals, your staff are bound to be quite animated and lively. They need to be enthusiastic about the company’s product or services and high-spirited in order to coax prospects into making a decision. But as soon as they enter a training environment, buoyant and bubbly personalities soon disappear, as the passive nature of most teaching methods is enough to make employees fall asleep. To address this problem, think about injecting excitement into training by introducing some games. Get your workforce out
Can sales training make an impact?
From ordering more stock and improving product quality to upgrading essential equipment and opening new premises, there are several areas of a business where money can be spent. All of these will attempt to make an impact, whether it’s to enhance the customer experience or boost employee productivity. But at the end of the day, profit and prosperity will come down to one thing – sales. Failing to generate enough money through the sale of products and services will cause any business to collapse. To ensure a steady stream of sales are being achieved, there are a number of different options. However, investing in sales training can be the most effective and influential. The problem with this is that various organisations and their employees have a rather unfavourable view of training. Some view it as a pointless waste of time, while others feel disengaged and uninterested with the whole process, but this couldn’t be further from the truth. If carried out in the right way, using the right teaching techniques and learning methods, sales training can have an extremely beneficial impact on any organisation’s activity. Best practices for increasing sales training impact Lead by example If your sales team can
Key tips to boost advertising sales
Despite the fact that the majority of sales staff always have a challenge on their hands when it comes to shifting a certain product or service, those in the business of advertising arguably have a much tougher task. In an ever-changing industry where other forms of promotion and publicity are becoming increasingly effective, these men and women are usually given the job of selling something the buyer probably doesn’t need. On top of that, prospects probably aren’t listening and will usually say no regardless of what is being offered. Constantly coming up against these obstacles can be incredibly frustrating, both for the individual and the business. In several cases, advertising sales staff will keep on preserving with the same technique, even if it isn’t getting them anywhere. For this reason, those in advertising are always looking for new ways to sell television commercials, roadside billboards or some other sort of promotion material. Thankfully, there are several approaches and ideas out there, which could boost your advertising sales. Change the attitude and improve the aptitude of staff Managing to secure an advertising sale is solely dependent on one factor – the salesperson. They are the one who should control the process
Proving the ROI of sales training
Conducting and carrying out sales training is a common tactic used by a variety of businesses to improve bottom line performance. In addition to teaching members of staff new skills and expertise, it can also change an employee’s attitude and behaviour at work. What’s more, teaching and tuition may even fuel your workforce’s thirst for knowledge, thus improving personal development and increasing promotion opportunities. However, what is the point of performing training courses or programmes if you do not measure how successful they have been? On top of that, you may never know whether your ROI was worth it in the end. The majority of organisations will probably look at their end of quarter to sales to see whether the cost of training has been cancelled out by greater turnover and bigger profit margins. Unfortunately, this doesn’t provide an in-depth understanding of what employees benefitted from the most, which training techniques were more effective, how the business can improve on coaching in the future and whether the invested capital made a difference. Therefore, it is in any company’s best interests to comprehensively measure the ROI of sales training, as it has a myriad of boons and benefits. Objectives and intentions
3 ways to improve technical sales training
At the end of the day, the majority of companies are hugely reliant on sales to achieve success. If you don’t generate sufficient turnover and profit, chances are your organisation will fail or founder. Therefore, it is in an executive or manager’s best interests to find ways of improving sales team performance, particularly in the knowledge-intensive arena of technical sales training. Product knowledge training has long been held as one of the secret weapons of successful sales organisations. From changing the company culture and hiring more talented staff to providing incentives and introducing performance-based bonuses, there are a number of different techniques and tactics to boost bottom-line conversions. However, several of these approaches are short-term fixes and won’t lead to prolonged prosperity. That being the case, a more sustainable and sure-fire strategy is required. This is where the boons and benefits of training become apparent. By teaching your sales teams new skills, expertise and knowledge, they will feel more comfortable at work, be better equipped to carry out their role and inevitably deliver better results. Training can change workforce behaviour, enable personal growth and transform a company’s fortunes, which is beneficial for both individuals and enterprises. However, training presents a
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