According to the American Society of Training and Development, American companies spend approximately $20 billion annually on sales training. Yet a recent study by Sales Performance International shows the percentage of sales reps that consistently attain quota is decreasing from year to year. While the economy certainly plays a role in our ability to sell, the simple truth is that many sales training models just don’t work.
Industry metrics tell us that 50% of the content learned during sales training is not retained past the five-week mark. Much of what companies are paying top dollar for just isn’t sticking. Within 90 days, 84% of what was initially taught is simply – gone. So is all that money your company invested in sales training.
Standard sales training focuses strictly on external skills development. They provide better objection-handling skills, better closing skills, additional product knowledge, or better cold calling scripts, but none of it really makes any difference because they don’t venture below the surface. This is why, even though many companies are engaging in sales training, the results don’t change.
Selling is about more than just a set of repetitious behaviors like phone prospecting and objection handling. Successfully closing a deal is strongly affected by the underlying skills, state of mind, values, self-image and attitudes of the person conducting the sales process.