Archive: Nov 2017
How can you measure ROI on your sales training?
Posted: November 28, 2017 10:53 amSales training is a highly effective way to improve team performance and boost overall results. However, when it comes to quantifying its impact it’s far less simple to do than with more numbers based and easier to attribute investments. Measuring the ROI on sales training is challenging, mostly because calculating the return is quite a difficult job. There are a number of reasons for this:
- Return on sales training is not instant. It may take some time to appear and, depending on the length of the sales cycle, the actual return could only materialise several months in the future.
- The impact of sales training is often felt right across the business. Pinpointing the direct return of sales training is not that easy as the return could be disparate. You’ll often find that the results of sales training are broad and everyone, from the CEO down will want to take the credit for it.
- We frequently simply use the wrong metrics. When you’re looking to measure ROI on anything the first instinct is often to look at increased sales revenue as the right metric to work with. At first glance this does seem to make sense - the initial investment was financial and so the return should be identifiable in that way too. However, the issue there is that an increase in revenue could be the result of many factors – not just training - and so any measurements you try to make relating to sales training may not be accurate.
Metrics: the optionsSo, if sales revenue isn’t an option when it comes to measuring ROI on sales training what else can you use? There are two other potential metrics that could provide accurate and actionable insights into the impact that sales training is having. The first of these is sales activities. This could be anything from making sales calls and attending training, to accounts plans that are completed. Unfortunately, in the same way as measuring a business result like revenue, attempting to use sales activities to calculate ROI can be a bit of a stretch. The second metric that is likely to have a much greater impact is sales objectives. This would cover any goal that you’re setting for a sales team, whether that’s close rates, customer retention or the acquisition of new customers. It’s here that you will often be able to see the most obvious correlation between investment made in sales training and results.
Why does the sales objective make more sense?There is a far more direct correlation between training and the sales objective – and it can be better quantified. For example, you might look into investing in training to generate more new customer acquisitions. Although acquiring new customers may also contribute to other metrics such as business results like revenue, there is a direct and measurable link between a training programme designed to increase new acquisitions and the number of acquisitions that you make. So, if you invest in training for the purpose of a sales objective such as this, by looking at whether that objective was achieved (and how) you will find it much easier to measure the ROI. Training is increasingly a crucial way for businesses to evolve and drive up returns of all types – if you’d like more information on the training options we offer please get in touch with a member of the PTP team today.
What type of Management Training is the best fit for you?
Posted: November 21, 2017 10:50 amAt PTP we offer a range of interactive and practical management courses that are designed specifically for the client. Our courses run with a maximum attendance of 10 delegates although the average class is around 4-5 delegates. However, for larger groups we also offer tailor-made courses depending on the type of training required. But which one is right for you?
Public CoursesAll of our courses can be run as a public course. What is great about the public courses is that we run them in 7 different UK cities, meaning, if you require training in London, we can offer you a choice of over 80 management courses in the heart of London. Each of our venues are of exceptional quality with lunch and refreshments provided. However, if you’re looking for more of a tailored course for you, we would recommend choosing a more bespoke option.
In-House Tailored TrainingEach and every one of our courses can be tailored to the exact needs of you and your company, making it perfect for your team to really benefit from the training. We deliver our tailored training in-house at your offices, or we can organise a venue for you to make your employees feel more valued. As part of this package, the trainer will call you in advance of the course and discuss your needs so that the course is tailored for you.
U-ChooseAlongside our public course, we also offer a U-Choose service that is unique and flexible to you. As long as you book for a minimum of 2 delegates on any of our courses, we give you the power to choose the date and location on which you would like the course delivered. We will then promote the course and venue you have chosen and we guarantee we will run the course even if we don’t sell any additional places, which makes it perfectly tailored to you.
One-To-One TrainingFinally, we offer an affordable training service on a 1-to-1 basis for any of our 200+ courses. When you book a 1-to-1 training programme you will get a telephone conference of up to 1 hour prior to the on-site session, a half day on site coaching session and then a further telephone conference call of up to an hour within 2 weeks of the on-site visit. To find out more or to book a place on one of our courses or to book your own, visit our website here.
How could encouraging the personal development of staff through training reduce your business costs?
Posted: November 12, 2017 10:46 amIt may seem overwhelming investing both time and money into professional development and training, however, your investing will ultimately save your business money in the long run. When you provide your employees with opportunities to excel and further the development of their professional skills, what you are creating is a positive company culture. Business’ are more likely to thrive when employees feel valued, as they feel more confident in their career and the skills that they have to offer.
Retaining employeesMany companies today foster a culture of high turnover, recruiting employees for short periods. According to research the average cost of each new employee costs 30-50% of their salary. When you have a business with a high turnover with employees seeking new jobs as they feel their career is stagnant, this can lead to high ongoing recruitment costs. Many employees desire to develop their skills, but fail to cope with the costs and sourcing of training independently. When employers take the cost and responsibility on themselves, employees feel happier and are encouraged to collaborate more to see the business grow.
Fostering leadership skillsIt is easier to identify strong leadership skills in some employees over others, but when your staff are doing small jobs on a day to day basis, you can sometimes fail to see their potential, as they haven’t been given opportunities to excel. Investing into professional training, you offer your employees the opportunities they’re seeking to best utilize the skills they have. This brings value internally to your business, which can then be rewarded to promote greater employee satisfaction. When your employees feel they have opportunities to prosper and move up the career ladder, they’re more likely to stay long term, whilst developing their skills will also bring greater capabilities into your company.
InnovationIt is also likely that employees have ideas for making processes more efficient and other creative ideas that need nurturing. If an employee was to share these insights, they would have to feel valued and invested in by the company, and secure in knowing they’ll be with the business long enough the see their ideas come to fruition. Innovation is realised the most when employees are confidently collaborating together. Professional training can introduce a philosophy of teamwork and collaboration that, when supported, becomes a natural component of an organisation. To find out more about the training programmes we offer, and which may benefit your staff and meet your current requirements, get in touch with one of our team today on 01509 889632.  Source: http://www.adlestropconsulting.com/recruitment_starts_when_the_candidate_joins
How could customer care training improve your customer services?
Posted: November 4, 2017 10:43 amCustomer service has a big impact on every business – 78% of consumers have abandoned a transaction or relationship if they have had a bad experience. Plus, it takes 12 positive experiences to make up for just one negative customer service experience. So, investing in being able to deliver great customer service is always going to be a good idea. There are many different ways to give your customer services a boost and customer care training provides a lot of opportunities for improvement.