How an LMS for Sales Training can help Boost your Revenue
Sales Training is a crucial part of the growth strategy for SaaS Companies. With the fast evolution of companies, they barely have time to train their sales representatives. Many sales leaders take the training as simple as delivering a sales playbook or sitting on a few calls. However, the role of a salesperson goes beyond reaching out to prospects. A sales representative should understand your customers and their problems entirely by providing them real insights into how your product can be useful. Indeed practical sales training involves a lot of investment in resources. Today, many organizations support this idea and consider sales training an essential part of a company’s investment. Most modern organizations consider using LMS to deliver sales training as an integral part of the employee training process.
In today’s competitive era, only 42% of the sales training program meets the expectations, 11% exceed the salesperson’s expectations, and 44% need improvement. The organizations that implement the sales training programs exceeding the expectations ace the sales by 10%.
Today, let’s dig into a strategy of building a strong and revenue-driven sales training program and help your team improve sales.
Why is Sales Training Important?
In today’s highly challenging environment, maintaining a competitive advantage is essential. A strong sales team is one of the valuable tools to keep your company ahead of the competition. Today, the customers and prospects expect more. To achieve your sales goals, you need to provide valuable information rather than basic details about your product. You need to facilitate your sales team with the necessary tools for a relationship-building approach.
At Kloudlearn, we have examined what training would help you achieve your goals and build relationships with your prospects and customers. We have created a comprehensive sales learning strategy that leads to more sales. Let’s dig into it.
Every salesperson should have complete knowledge of your product. This makes it easier for your sales representatives to understand the customer’s perspective, what they want to accomplish with your product, and how each feature helps them solve their problems. Integrating this knowledge with your sales team ensures that they can proficiently showcase your product and answer all your customer’s questions.
How do you want to communicate with your prospective customers? Do you follow a formal or casual approach? These are crucial things that your sales representatives should know. You can ensure that your sales representatives effectively communicate with your customers by establishing a set tone of voice. It is essential to convince your customers emotionally before they make a purchase. You can achieve your sales goals only if your sales representatives effectively interact with your prospects and customers and clearly define your product’s benefits.
You can lead your business down if you have no clarity about who your customers are? Your sales representatives should know their core audience, their needs, and their problems. Your sales training program is not possible until you have well-defined use cases for your customers.
Define specific use cases to help your customers make informed decisions about your product. Your organization should have a defined use case to build trust among your customers and meet their needs and expectations to make a purchase.
For tracking your prospects, your organization needs to invest in sales tools and resources. Your salesperson should know how to effectively use CRM to boost sales, productivity and keep track of prospects. According to Nucleus Research Report, 65% of the companies using CRM are achieving their sales goals. And research from Forester shows that 50% of the companies enhanced their team productivity using a CRM. With CRM, you can easily plan and manage your time by prioritizing tasks. CRM allows sales representatives to spend more time with your prospects and customers, leading to more sales opportunities and stronger customer relationships.
At Kloudlearn, we focus heavily on company culture. We believe that a company that values its employees encourages trust and communication among them. This means your employees are taught the values of your company. You can regularly boost your team’s progress by sharing a shared vision. Doing so will reinforce your sales representatives to increase sales opportunities and achieve your sales goals.
Traditional Vs. Online Sales Training
In earlier days, sales training was done face-to-face with the sales manager or other sales team members. But today, that’s no longer the only option. Businesses are increasingly shifting to online training platforms. The organizations are effectively delivering training through learning technologies like learning management systems. According to the Industry survey conducted by corporate visions, 65% of the companies invested in online training technologies. Online training is measurable and scalable. It enables your organization to automate the sales training process by controlling disruption and sales training costs. Online sales training is more focused as it provides the information only about those topics that a learner has chosen. The online sales training engages the salesperson by providing modern sales tactics and tools to improve their bounce rates. Companies that invest in online training boost their employee’s productivity by 30%. Online sales training has a significant impact on your company’s overall ROI. You can quickly improve the sales KPI by maximizing the sales leads with online training.
However, at Kloudlearn, we follow a middle option by implementing a blended learning approach. We improve the sales team’s knowledge, productivity, and performance by combining traditional learning methodologies and online strategies to provide more rich learning experiences.
Designing a Sales Training Program.
Let’s understand how to create, manage and deliver an effective sales training program. Here are five critical steps for an effective sales training program.
The planning of your sales training will depend on factors like your business industry, products, etc. For an effective sales training program, you need to outline a complete list of skills that your sales team must succeed. The sales training program should fit into your organization’s needs and the sales team. You can start with the essential competencies that you consider necessary for achieving your sales goals.
According to the Pareto Principle, 20% of the competencies result in 80% of the sales success. A structured training program can quickly advance the competency of your employees.
At Kloudlearn, we achieve this by first figuring out how long the sales onboarding procedure would take. Accordingly, we had set courses and tasks to be acquired during the entire training.
Identify the various formats you will be using to deliver the training. What course will be available in your LMS? Are you going to provide traditionally or face to face sessions? All these things will enable you to add structure to your training content, and your team will effectively implement the strategy.
Once you have planned your sales training content, you have to ensure if your training is accessible through LMS. Centralize your LMS before delivering and managing the sales training. With this, your sales team members will get instant access to all the training content. Walk all your sales representatives through the entire training process to ensure they understand the exact requirements. You can always inform your employees what courses they need to take, where they can find the materials, and how they can reach their goals.
An LMS for sales training can be very helpful for fast-growing companies. You can easily add new sales team members into the onboarding process via LMS. Your learners are automatically assigned the groups when added to the LMS. You can assign the courses to all the group members at once instead of enrolling each learner individually.
Learning paths are essential elements of LMSs that automate all your tasks and ensure all your team members are getting the required training resources. Learning paths are ideal for a sales onboarding plan, and it links the number of selected courses together. You can easily enroll any number of learners into the learning path. Your learners can complete the courses without any kind of intervention.
Assessments are one of the crucial elements of your sales training content. You can easily ensure if your sales representatives have absorbed the required information by testing them.
You can assign weekly assignments to your learners within an LMS to assess them. You can incorporate quizzes, true or false, or other interactive activities to ensure your sales team grasps all the information they need. To make your assessments more blended and individualized, you can run a webinar or Virtual instructor-led training (VILT) session. Additionally, you can encourage your salespeople to provide you with real-time feedback about your product.
To identify what is working and what is not, you need to monitor and measure your training’s success. You can have real-time insights about your sales and training by using the LMS reports and comparing the results that your sales team has achieved before implementing the training strategy.
You can easily track how your sales training program is performing based on your KPIs. You can quickly identify the critical areas of improvement. This way, you can get meaningful and real-time results that impact the most crucial parts of your business.
Kloudlearn helps you deliver interactive and engaging sales training with an insightful and powerful Learning Management System. You can easily create your training content using a powerful authoring tool. Get access to the pre-built reports to track your training performance and your employee’s progress. Offer your workforce a seamless and rich learning experience with Kloudlearn’s Mobile application. Implement an effective sales training program with us.
To know more about Kloudlearn, Schedule your Demo today.