The Benefits of Sales Coaching
Bill Gates is famous for saying “if I only had $2 left, I’d spend $1 on PR.”
Fair enough; effective public relations are pretty important. But if I were him you know what I’d spend my other $1 on?
Sales coaching!
Even masterminds like Bill Gates can use a motivating force to keep them on track and reaching their goals, especially when it comes to hitting sales targets. And for those who already know the basics of sales through a professional sales training course, coaching can take their performance to a superior level.
Let’s take a look at some of the benefits obtainable through sales coaching.
Skyrocket revenue
This first one is probably number one in the minds of most managers and executives. Better salespeople will bring in more dollars, and that means dining on steak and lobster instead of frozen dinners. Revenue — not just names in a database or people walking in the door — is the lifeblood of a business. So say “yes, please” to anything which helps convert those identities into paying customers, such as sales coaching.
Boost productivity
When salespeople bring in more business through sales coaching, the rest of the organization tends to move as well to handle it. Having plenty of things to do reduces idle chit-chat and hours spent on social media sites, leading to greater ROI per employee.
Close bigger deals
Salespeople who are coached tend to bring in a bigger deal size per transaction, according to a survey by AchieveGlobal. That survey also points to the following fact:
Experience a bigger Performance-to-Quota improvement
Sales coaching helps salespeople better bridge the gap between the actual scene and ideal scene, and in many cases leads to quotas being left in the dust.
Strengthen the entire organization
Just like a sports team with a good coach, sales coaches not only boost the performance of individuals, but also create a cohesive unit where everyone knows their job and contributes to the overall effort. Even “lone wolves” tend to become better team players when coached as part of a group.
Capture new business, rather than just service existing customers
With sales coaching, you can motivate salespeople who have grown too comfortable handling customer issues to go back into the field and get new ones. Fresh accounts are always good, as attrition is a fact of life.
Increase job satisfaction
Not only do salespeople who are coached make more money, but they appreciate the attention coaching provides. This equates to less turnover and makes recruiting easier.
Significantly reduce costs
Private sales coaching should be part of every sales organization’s budget in order to save money. Just think about the expense created with each salesperson hired who then leaves, not to mention the dollars which go down the drain from their blown deals and you will get an idea of how much you can save.
The examples above are just some of the many benefits of proper sales coaching. Does your firm have a formal coaching plan in place? If not, we’d love to help set something up that fits within your budget and performance expectations. Just drop us a line.
