Sales Training ROI Calculator
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).