In the fast-paced world of sales, results are instantly visible and measurable. When performance falls short of plan, there can be a tendency to knee-jerk.
Too many companies spend time and money removing lacklustre sales performers when they could be helping their people to shine. It’s an expensive strategy. Taking into account compensation, management time, recruitment fees, lost sales, induction, training and pipeline ramp-up, the average cost of replacing a sales person is typically equivalent to their annual salary. Alternatively, investment in skills assessment, personal development and ongoing training and coaching is likely to cost just 10% of that figure.
Training and development does a lot more than improve retention. It binds teams together, clarifies personal goals and enables people to work smarter.
Demonstrating a Measurable Return on Investment
Developing people to perform better is often considered an intangible investment. At Seller Performance, we make a point of directly linking our services to results, working closely with businesses to agree a set of pre-development metrics. Our value can then be measured against:
- Increased revenue and profit
- Higher conversion rates
- Shorter length of the sales cycle
- Improved sales funnel growth
We look to: improve individual performance; lift team impact; raise closed sale ratios; increase the average value per sale; create greater forecast accuracy; lower the cost of sale.