Sales professionals have many responsibilities but, ultimately, they’re expected to deliver revenue and growth.
To identify which sales skills are producing the highest results in today’s economy, Training Industry Inc., conducted a global study exploring the effectiveness of sales training programmes. The research reveals that 81% of companies report that their sales training programmes are effective.
But only 44% of companies report revenue growth of 5% or higher. Why the disparity?
The research uncovered a host of interesting findings about how high performing organisations run their businesses differently than other companies.
What are high performing organisations doing differently?
One of the most interesting findings from the research is that high performing companies place significantly higher value on specific skills. For example, fast growing companies:
- Place twice the importance on developing business skills than other companies
- Rate their sales organisation as excellent or above average three times more often in executive selling skills
- Rate their sales organisation as excellent or above average four times more often in financial acumen
The strategies that high performers have adopted can in part be explained in response to current market trends. One such trend is that customers can now largely self-educate themselves about products and services online. To add value in such an environment, sales professionals must understand their customer’s business and be capable of demonstrating the financial value of their solutions.
A related trend concerns customers continuing focus on controlling costs. With CFOs now micromanaging investments, decision-making authority has been pushed to much higher levels within accounts. This leaves sales professionals ill equipped to manage executive-level relationships at a sizable disadvantage.
Read more about how high performing organisations run and measure their businesses differently in the full research report.