Highly engaged sales teams increase profitability by 21%. A drastic drop in absenteeism, significantly lower turnover, and higher productivity are just a few areas of improvement that contribute to the overall increase. Customers also respond to employee engagement. 87% of Starbucks customers state that their affinity for Starbucks is fueled by how the company treats its employees.
On the other hand, disengaged employees cost companies $5.5 billion every year. The good news is that you can take steps to create a strong, employee-centric workplace. A strong company culture that supports the workers' interests, goals, and development is not only a defining characteristic of highly successful companies but one that high-performers seek in an employer. BevAlc managers have the power to cultivate a culture of success and see significant ROI of learning and development by instituting training initiatives for their sales teams.
One of the most impactful changes you can make in your sales organization to achieve higher engagement is providing learning and development opportunities. That doesn't mean that you give them access to content and hope it 'takes.' BevAlc managers must also remember that development requires support, coaching, feedback, and the right tools to help you and your sales reps reap the full benefit of the content. Let's look at some of the most effective techniques to engage your sales team.
Sales statistics aren't the only indicator of your rep's competency or performance. Many factors, such as the territory, could influence sales numbers. Did your salesperson take over an established, dense territory that allows them to meet their sales goals easily, or have they been steadily building sales in a traditionally underperforming area? What about how well they understand their customers' business and how often they provide actionable solutions that help the customer resolve issues and meet their goals?
Most people assess new hires to see if they have the right experience and skills for the position. However, it is essential to continue not only to observe and evaluate your sales rep's progress to ensure success through progressive growth and development but to have them assess themselves to identify areas that may need more work. This provides a more well-rounded view of their performance, determines their growth path through collaboration, and engages the employee proactively. It also gives the manager a view into how effective their sales reps have become at BevAlc sales.
Empathy is the ability to think of situations from another's perspective. When used in sales, it puts the focus on the customer's needs instead of on the salesperson's desire to sell. While it may seem counterintuitive, it allows the sales rep to understand their customer's pain points and enables them to suggest solutions, which in turn creates mutual trust that solidifies the relationship. While 83% of salespeople believe in the importance of trust before a sale, only 40% of buyers find salespeople trustworthy. When sales reps become trusted advisors, the customer will be more forthcoming about their goals, and new needs or opportunities may be revealed.
A continuous learning culture is a characteristic of most high-performing organizations. According to Deloitte, 92% are more likely to innovate. They are 58% more prepared with skills to meet future demand. They exhibit an increased response to customer needs and greater employee productivity.
Companies that have the most successful L&D culture provide a blended learning approach. Offering a combination of self-paced learning with live virtual and on-demand training lets your sales team learn at the speed and style that works best for them. It also gives them the flexibility to commit fully to their work and their studies without having to sacrifice one for the other. When new learning is consistently reinforced and built upon, it increases recall and adoption of the techniques and behaviors.
There is no shortage of training available to businesses today. There are live seminars, self-paced online training, and on-demand classes. However, all training is not equal. The most effective training platform is industry-specific, has a blended learning approach, and provides tools and techniques that support continued growth.
High-quality training will pay for itself many times over, both in cost savings and increased sales. Maximizing the ROI of learning and development comes from transforming your entire culture. When every level of the organization buys into the importance of continuous learning, it is apparent in enhanced productivity, increased profitability, lower turnover, and the ability to attract the top performers in the industry. When your salespeople are successful, your business will reflect it.