While it's hard to underline the value of any set of training, it's easy to illustrate the cost ... but is the invoice value the true cost to your business?
THE COST OF SALES TRAINING
There are two classic ways to view the immediate cost of sales training on a business -
1) You have to pay someone to come in to deliver the training. 2) Your sales force is off the floor/off the road/off the phone and if they're not selling, they're not earning.
Both will have direct short-term effects on your costs and for what? To teach something most delegates will have forgotten half way through their first day back ...?
THE VALUE OF SALES TRAINING
But what if the sales training is good? What if the content is relevant to your exact business requirements and delivers the additional skills your team needs? What if your sales training allows each delegate to pick up one technique, one trick or suggestion that will help them bring in an extra sale each month? If you multiply the average cost of one sale by the potential number of delegates and then multiply the total by twelve (months) - what are you left with? Would it outweigh the cost of the training? Now divide that additional revenue by the cost of the course and you suddenly have a potential ROI even the most stringent accountant would be hard pressed to rail against!
INCREASING SALES STAFF RETENTION THROUGH SALES TRAINING
Now think in terms of staff retention.
Sales departments traditionally have the lowest rate of retention in a business - but incur the highest costs in terms of management, training and business expenses.
If the training was able to reinvigorate, motivate and retain a member of staff whose performance had recently dipped or had considered moving on - what is the saving? No recruitment fees, no down time while a new member of the team gets up to speed, no short-term drop in revenues. Maybe you'll even get an increased level of performance from the member of staff you've retained!
All of a sudden your initial outlay has both saved you some money and generated you more.
Suddenly cost has become investment.
| Views: 94
Email This to a Friend 
