How sales management training can help with the bottom line
In helping your company to grow, you can benefit from knowing the difference between the “top line” and “bottom line”. The first of those terms refer to the firm’s gross sales or revenues, as Investopedia explains; meanwhile, the “bottom line” is what remains of your company’s income following the deduction of all expenses from revenues.
Therefore, knowing the bottom line is hugely valuable for making sure that your company is remaining financially efficient. In this article, we are going to detail how sales management training can make that bottom line even more attractive.
You can confidently look to the future
Whilst sales leaders are, of course, tasked with boosting their company’s sales and revenue, a mere third of reps satisfy or exceed quota, according to the Salesforce.com blog. Hence, there is clearly much room for improvement – and a skilful sales manager can help promote this.
You can help produce effective sales managers when you put your staff through sales management training just like the great range of courses we offer here at Frosch Learning. In addition, investing in training can also send out a positive message to people who are considering joining your company about the quality of your staff and the expectation of future employees.
This positive message would arise from the fact that the company is clearly spending on its sales team’s future success, rather than increasing expectations and quotas while leaving reps to have to use outdated sales technologies. Millennials are particularly insistent on using the most recent technology.
Moreover, if the training bears fruit by leading reps to satisfy more ambitious quotas, the salaries and commissions will also be higher. This, in turn, will make joining the sales team a more attractive prospect for people outside the company and so make your recruitment efforts easier.
Training should be ongoing, not one-off
A study by the Aberdeen Group has revealed that the process of recruiting a sales rep and getting them on board can last 7 months, while there are a further 5-11 months before the rep is educated and comfortable in their role. However, training shouldn’t just be a “one-and-done” matter.
We say this because an individual can forget 87% of what they have learnt during training in under a month. Thus, training should be delivered on an ongoing basis to ensure that the sales knowledge is consistently reinforced. Such training can also ensure that employees know about the most recent products and processes relevant to their work and industry.
With the use of the correct tools, businesses can be responsible for a minimum reduction of 30-40% in ramp-up time. Furthermore, mistake frequency can be lowered and job satisfaction boosted. Our sales management training can assist in bringing all of these achievements within easy reach for your company.
Our website includes comprehensive details of the courses we have available, which you can also enquire about by phone via 020 3859 0707 and email through firstname.lastname@example.org.