According to CSO Insights only 25% of companies have a formalised sales coaching process.
The CSO report also studied 4,500 organisations and found that companies with defined sales coaching were –
- Twice as likely to be regarded by customers as trusted advisors.
- 17% more likely to hit quota.
- Actually won 24% more forecasted sales.
However, in their book Insight Selling by Mike Schultz and John E Doerr, they write that most sales training focuses on a 2-3 day event where sellers learn new skills. The problem is that between 85% and 90% of sales training has no lasting impact after 4 months.
Indeed John Neill, chairman & CEO of Unipart Group, recently stated in the Sunday Times that less than 20% of any external training is effective in gaining performance.
Certainly to reinforce sales training for lasting impact, sales coaching is needed. In fact it’s quite possible to provide one-to-one, on-the-job sales coaching without the expense of taking salespeople out of the field for several days on expensive sales training courses.
In his book Coaching Salespeople into Sales Champions, Keith Rosen describes a 28 day turnaround strategy based on 4 weekly benchmarks.
How good are your sales managers at providing sales coaching?
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