ValueSelling Associates and Training Industry Study Also Reveals That 60% of High-Growth Companies Use Sales Coaching as an Integrated Part of a Sales Training Program
According to research findings released today by ValueSelling Associates, Inc., the creator of the ValueSelling Framework, a proven formula for accelerating sales results, making a long-term investment in sales coaching pays off. More than two-thirds of business-to-business (B2B) companies, 67%, that have had a formal sales coaching program in place for at least three years experienced high revenue growth.
In addition, the research found that 60% of high-growth companies use coaching as an integrated part of a sales training program.
“Great sales leaders know there is a cause and effect relationship between developing their teams and achieving their revenue goals,” said Julie Thomas, CEO and President of ValueSelling Associates. “A winning sales team uses a consistent sales methodology and implements sales coaching as an essential part of a sales training program to make sure the entire customer-facing team will reach their next level of performance and excellence.”
ValueSelling Associates, Inc. and Training Industry, Inc. surveyed online 330 U.S. learning professionals responsible for sales training within a wide range of industries to explore the role of sales coaching within B2B companies.
Key study findings include:
- Measuring the impact of your sales coaching program is of critical importance. Companies with the best coaching programs measure the impact of coaching in many ways to get a complete picture of their performance. High-growth companies expect significant outcomes from their investment in sales coaching, including:
- Individual productivity (63%)
- Customer satisfaction (59%)
- Individual quota achievement (58%)
- Employee satisfaction (51%)
- Bottom-line growth (55%)
- Top 5 most effective coaching skills. The best sales coaching programs focus on a wide range of skills. No two sales engagements are the same, and sellers need a broad skill set to consult with clients and close deals. These five skills were always or almost always effective when supported by sales coaching in high-growth companies:
- Listening/communication skills (67%)
- Product/service knowledge (67%)
- Presentation skills (63%)
- Sales process (62%)
- Engaging prospects (55%)
- Serving the entire sales organization with sales coaching enables the sales function to operate at a high level. High-growth companies focus on a variety of sales roles, and provide sales coaching to:
- Customer service reps (61%)
- External/field sales reps (57%)
- Business development personnel (54%)
- Internal/digital sales reps (43%)
- Top 4 methods high-growth companies use to develop sales coaches within their organization include:
- Pair existing coaches with new coaches (58%)
- Provide training courses aimed at basic coaching competencies (56%)
- Send potential coaches to external programs or certification courses (54%)
- Hire external coaches to train internal coaches (40%)
