Sales performance improvement and leadership development are two of the fastest growing segments for sourcing training from the supply side of the market. We are also seeing continued strength in the custom content development space as it pertains to salesforce development, so understanding what to look for in a vendor should be top of mind for training professionals.
In a recent Training Industry research study, we explored several questions relating to both the propensity to include external vendors to support sales performance improvement initiatives and best practices to consider when moving through the selection process.
Respondents were asked what their key priorities were for improving the effectiveness of their salesforce. The 22 percent of companies that self-assessed their programs as very effective (see Figure 1), said the key focus areas for their investments are improvements to the sales process, as well as training and coaching of the sales reps and managers. More than half of respondents (57 percent) felt that starting with the sales process was critical to improving the performance of a sales team (see Figure 2).
Figure 1. Effectiveness of Current Sales Performance Improvement Efforts
Figure 2. Priorities for Improving Sales Performance
Figure 3. Propensity to Engage External Providers for Sales Training Solutions
We are encouraged to see the trend toward investing time in the sales process prior to jumping into program development. Our study reveals that 43 percent of learning leaders reported that they look to the market for help with improving the sales process.
As illustrated in Figure 3, learning leaders responsible for improving sales team performance understand the value of leveraging external training providers for traditional program development and delivery, as well as for critical success factors to any sales transformation, such as reviewing the sales process and integrating the right data and tools. Seeking guidance in both of these areas prior to developing the program can actually be critical to maximizing the impact of your sales transformation investment.
Criteria for Selecting External Providers
After identifying why effective companies leverage the support of external vendors to improve sales performance, let’s explore what these companies value from prospective partners and the best practices they deploy when going through the selection process.
The research identifies four standards that buyers of sales learning services use when selecting a vendor:
- Trust that the provider can deliver the solution
- Ability to customize the solution
- Industry expertise
- Fit with company culture and values
These results proved consistent with the research conducted for our book, “What Makes a Great Training Organization?” Speaking the same language of business and being a cultural fit are key considerations when making a partnership decision.
We asked for further input using an open-ended best practice question and two new criteria emerged in the discussion including, the buyer of learning services must ensure that their partner is easy to work with and has a proven track record. These best practices clearly illustrate that a provider’s past successes and approach with their clients are critical to the success of their future projects.
Summary
Leaders who are responsible for improving sales performance can use these research findings to achieve performance goals by assessing the sales process and leveraging solutions that integrate with the tools the sales team already uses on a regular basis, such as a client relationship management database.
The impact of this training investment has the potential to be significant, so choose a partner who understands your business and the industry you serve, fits with your company’s culture and values, and can be trusted to deliver the solutions that you need.
