Staff left in complex sales processes without support, hindering revenue growth and the move from product to service sales
Showpad research has revealed that sales staff are being left dangerously exposed when selling complex or high-value products and services, with 25% of organisations failing to carry out any kind of training or coaching. According to the study, only 16% of firms offer the continuous and ongoing training and coaching necessary for sales teams to keep up with the increasingly sophisticated products, services and AI-driven solutions across their industry.
“Organisations today are selling incredibly complex propositions,” commented Iain Masson, Director of Sales at Showpad. “If staff are simply being trained when they join the company, or when a new product comes out, they will be taking an ineffective approach – or worse, missing out on deals, upsell or cross-selling opportunities.”
The study revealed a disconnect in how organisations are empowering their sales staff with content, training and coaching (sales enablement) with 51% of organisations admitting that training and coaching was important or crucial but many companies failing to train effectively.
In fact, 65% of companies admitted to using training methods such as lectures, presentations, demos or group discussions, when studies from the NTL Institute have shown that these methods help learners retain 50% of the content at most. Only 16% of sales staff are using highly effective methods, such as learning, then having learners teach others, which results in a 90% information retention rate.
“Sales is a complex role,” concluded Masson. “Although staff will learn from their own experiences, it’s better to share these learnings across the organisation, then track and use analytics to understand the best ways of selling and how to shorten the sales cycle. There is certainly optimism – 79% of staff believe that training and coaching is better than it was five years ago – but it’s crucial to accelerate such sales enablement initiatives if organisations are to make the most of new budgets in the new year.”
At Showpad, we believe that the best buyer experience wins. And this is why we built the most complete and flexible sales enablement platform that marketing and sales rely on to prepare sellers, engage buyers, and optimise performance with insights. With a single user experience, our solution makes it easy to discover and share the right content, deliver training and coaching, and maximise seller productivity.
Showpad drives rapid deployment and adoption with best-in-class technology and practices based on the success of 1,200+ customers in over 50 countries.
Johnson & Johnson, GE Healthcare, Bridgestone, Honeywell, and Merck, among others, rely on Showpad’s sales enablement platform in every step of the buyer journey.
Founded in 2011, today Showpad is the team of 450+ people working from the company’s headquarters in Ghent and Chicago and regional offices in Brussels, London, Munich, Portland, San Francisco, and Wroclaw. Showpad has experienced explosive growth in recent years and has now raised a total of $185 million in funding. In 2019 Showpad was included on the Best Workplaces list by Inc. Magazine. To learn more about Showpad, visit www.showpad.com or follow Showpad on Twitter and Linkedin.