“The big difference between world-class sales orgs and everyone else - 84% of elite sales organizations spend adequate time coaching each rep every month.” Tamara Schenk via CSO Insights.
In this excerpt from our new eBook, Jared Houghton sets forth key industry data on the ROI of effective sales coaching. Click here to download the full ebook: The Winner's Guide to Effective Sales Coaching.
The ROI of Effective Sales Coaching
In his article for the Harvard Business Review, Jason Jordan shares recent research conducted by his company, Vantage Point Partners: “Companies that had trained their sales managers to manage their pipelines saw their revenue grow 9% faster than those that didn’t.” Likewise, companies that “spent at least three hours per month managing each rep’s sales pipeline saw 11% greater revenue growth than those that did not.” .
Jordan’s findings are consistent with those of leading industry research firms CSO Insights and the Sales Executive Council. In their 2016 report, CSO Insights found that companies lacking a formal coaching program achieved quota attainment just north of 50 percent - roughly industry average. Upon implementing a formal, well-integrated coaching program, companies tended to see a 10-60 percent increase in quota attainment.
Likewise, in its 2016 report, the Sales Executive Council found that - aggregated across all industry - top-end coaching leads to a 7 percent uplift in sales numbers. The industry experts have reached a general consensus: there is massive ROI to be gained from implementing effective sales coaching into your sales organization.
Easy enough, right? Not exactly. The next chapter in The Winner's Guide to Effective Sales Coaching covers the hidden catch behind these numbers - captured by Vantage Point, CSO Insights and Sales Executive Council.
How We Coach: Outreach VP Sales Mark Kosoglow
"Managing a sales team is mostly about finding the constant level of production you need, the people that overachieve - and what to pass down to your lower achievers to coach them up." Watch via YouTube.
The Winner's Guide to Sales Coaching
Companies need elite sales coaches more than ever. The Winner's Guide to Effective Sales Coaching sets forth everything companies need to reach the next level. Visit the Academy Page to download the Winner's Guide and learn: the ROI of effective sales coaching, actionable coaching obstacles for today's sales managers, core coaching strategies and principles for modern teams, and our sales coaching playbook here at Ambition.
The Sales Coaching Experts
The Winner's Guide to Effective Sales Coaching features world-class insights from six featured experts: Jason R. Jordan. Mike Weinberg. John Barrows. Trish Bertuzzi. Lauren Bailey. Mike Kunkle. Tamara Schenk.
Get to know them better below.
Ambition: Real-Time Sales Performance Management
Harvard Business Review and AA-ISP (the Global Inside Sales Organization). See why Salesforce clients like Wayfair, Outreach, Velocify and more use Ambition to assess and motivate their teams with real-time data analytics.
Contact us to schedule a demo of Ambition for your sales force today.