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According to a recent
survey by the American Society For Training &
Development and IBM, 49% of the executives
who responded said they need to establish a
Return-On-Investment for their training
initiatives. Furthermore, 67% said that
establishing a link between learning and
organizational performance was their number one
pressing issue, and 53% said developing employee
skills needed to drive corporate initiatives is
also a top concern.
What this is saying
is that companies need, and want, to make sure
that employee learning is having an impact on
business results. Unfortunately, when it comes to
figuring out the return-on-investment for
training, many companies hit a road-block. And
sales training, aka selling skills, is one of the
most difficult areas to measure.
Now you have a tool
that can help you measure the
Return-On-Investment for Sales Training. This
simple ROI Calculator will show you when you might
see a return on your training investments. You
will need to provide some information first,
however. For instance, for the seven major areas
of improvement (Cold Calling, Qualifying,
Listening, Handling Objections, Negotiating,
Closing, and Retaining Customers) you
will need to know the priority of each (how
important each one is to your company) and the
percent improvement you expect from each area as a
result of the training. You will also need to
provide
an estimate of what your training investments will
be; including course costs, travel and living
expenses, lost revenue while at the training, etc.
Finally, you'll need to supply the Monthly Gross
Revenue for your company, Total Sales Reps getting
trained, Total People getting trained (including
the sales reps), and the Average Gross Profit for
your products or services. Once you supply this
information, the ROI Calculator will show you when
you might expect to recover your investments.
(Note: This is simply a tool to help as a
guideline. We are not responsible for any use or
interpretation you may have from the results of
this tool).
If you have any questions or need further information, please contact PEAK Sales Consulting,
LLC at 702-655-5652 or russ@peaksalesconsulting.com.
To download your
FREE Sales Training ROI Calculator, simply fill in the
information below (we will not spam you or
sell/distribute your contact information) and
you will be taken to the download page.
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