Study Finds 67% of B2B Companies That Have a Multi-Year Sales Coaching Program Experience High Revenue Growth
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
RANCHO SANTA FE, Calif., Jan. 20, 2020 (GLOBE NEWSWIRE) -- 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:
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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%)
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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%)
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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%)
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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%)
To download the ValueSelling Associates and Training Industry e-book, “Maximizing Performance with Sales Coaching,” visit: https://www.valueselling.com/maximizing-performance-with-sales-coaching. The e-book shares best practices used at high-revenue growth companies to manage effective sales coaching programs.
To download the accompanying infographic, visit: https://www.valueselling.com/hubfs/Infographics/VSA_Infographic_MaxPerformanceSalesCoaching011320.pdf
About ValueSelling Associates, Inc.
ValueSelling Associates is the creator of the ValueSelling Framework®, the practical and proven sales methodology preferred by sales executives around the globe. Since 1991, ValueSelling Associates has helped thousands of sales professionals increase their sales productivity and realize immediate revenue growth. We offer customized training to FORTUNE 1000, mid-sized and start-up companies to keep it simple and drive sales results. www.valueselling.com
About Training Industry, Inc.
Training Industry, Inc. spotlights the latest news, articles, case studies and best practices within the training industry. Training Industry, Inc. research captures the collective wisdom of learning professionals, revealing fresh data on trends and practices in the evolving training market.
For additional information on Training Industry, Inc. visit www.trainingindustry.com.
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Media Contact:
Maria Doyle, Doyle Strategic Communications
781-964-3536
maria@doylestratcomm.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/43f8e777-9b77-4bc8-bb94-24817bb3ced7
Infographic: Maximizing Performance with Sales Coaching
7 Best Practices for Sales Coaching
