Sales training

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Brian Tracy is a well-known sales training author/speaker, personal development author and motivational speaker.

Sales training is the process of teaching salespeople how to sell more effectively. It helps sales representatives develop the skills they need to sell more efficiently so they can succeed.[1]

Formal sales training can include such topics as: building rapport; sales prospecting; sales presentations; avoiding/overcoming buyer objections; closing sales; getting referrals and customer retention.

Source: What is sales training?

Effectiveness of sales training. Return of investment of sales training for companies

According to HireDNA.com: "A 2020 study by Southern New Hampshire University found that salesperson training can have an ROI of up to 353%. And a separate 2020 study by the Sales Management Association found “teams that invest in sales training and development are 57% more effective than teams that don’t.”[2]

According to the website TrainingIndustry.com:

“ In one study, we included a question that asked participants to rate the quality of their company’s sales skills training program. We found that 10.7 percent of the programs “exceeded expectations,” 42.5 percent “met expectations,” and 43.5 percent “needed improvement.”

What the data clearly showed is that effective sales training has a higher cost attached. Companies with sales skills training programs that exceeded expectations averaged spending $2,870 per salesperson, compared to $2,196 per salesperson for companies with sales skills training programs that met expectations, and $1,815 per salesperson with sales skills training programs that needed improvement.[3]

”


Source: Studies on how effective sales training is
Source: Studies on how effective sales training is

Emotional intelligence training and increased sales performance

The five components of emotional intelligence are: self-awareness, self-regulation, motivation, empathy, and social skills.[4]

Emotional intelligence (EI) "refers to the ability to perceive, control and evaluate emotions."[5]

The five components of emotional intelligence are: self-awareness, self-regulation, motivation, empathy, and social skills.[6]

Many businesses offer their employees seminars or courses on emotional intelligence in order to boost their employees effectively and to create more harmony in the workplace.

According to the Business.com article 5 Reasons Why Emotional Intelligence Matters in Sales:

“ Emotional intelligence is a valuable soft skill in any career, but especially in the sales industry. In a job that requires breaking down barriers with total strangers, overcoming objections, building relationships and making connections, the ability to control emotions and respond appropriately is essential.

In a case study by healthcare organization Sanofi Aventis, the company found that salespeople trained in emotional intelligence sold 12 percent more than a control group that didn’t undergo the EQ training.

There’s some evidence that high-EQ salespeople land more valuable deals, too. A Hay Group study of 44 Fortune 500 companies found that salespeople with high emotional intelligence produced twice as much revenue as those with average or below-average EQ scores.[7]

”

According to Forbes magazine:

“ On top of being better team players, emotionally intelligent people tend to perform better. Bradberry discussed how 90% of top performers score highly for emotional intelligence. A study conducted at a Motorola manufacturing site found that employees were 93% more productive after undergoing stress management and EQ training. So why do emotionally intelligent employees perform better? There are several reasons.[8] ”

HubSpot.com reports concerning salespersons and their moods:

“ Long hours, aggressive targets, difficult prospects. For many salespeople, it's all in a day's work. But it's also a recipe for stress, frustration, and low morale — which, when left unchecked, can quickly affect sales performance...
  • Sales teams with high morale were found 21% more profitable and 17% more productive.
  • Highly engaged salespeople achieve a 20% increase in sales.
  • Emotional intelligence is responsible for 58% of professional success.
  • Salespeople with high EQ bring 2x more revenue than those with low to average emotional intelligence.
  • 80% of customers say the experience a company provides is as important as its products and services.
  • 75% of long-term job success depends on people skills, while only 25% on technical knowledge.
  • 64% percent of customers say providing an excellent experience strengthens their loyalty.
  • 61% of buyers have a positive sales experience when the sales rep isn't pushy or aggressive.
  • Customers are most motivated to make purchases when they see the sales rep as a trusted adviser who boosts their confidence...

Sales is a tough grind. It involves long hours, constant rejection, and an "always-on" attitude — and keeping that pace is stressful. It's no surprise that 67% of salespeople feel close to a burnout.[9]

”

According to the article 47 Emotional Intelligence Statistics & Facts:

“ Many smart individuals are often linked with having a high IQ.

However, according to emotional intelligence statistics, those who thrive and succeed typically possess more intelligence (EQ) than raw intellectual abilities.

  • Individuals with high EQ scores tend to outperform those with IQs in 70% of cases due to their better grasp of emotions and adeptness in managing them
  • 95% believe they are self-aware, but according to tests, only 15% of individuals are genuinely aware of themselves
  • 58% of the variation in job success is attributed to emotional intelligence.
  • In the workplace, emotional intelligence is a factor that predicts the success of 90% of high performers
  • Most workers have a 99% probability of dealing with at least one person who is not self-aware
  • Globally one third (36%) of individuals demonstrate emotional intelligence.
  • Contrary to belief that Intelligence Quotient (IQ) alone determines success, social and emotional intelligence are revealed as factors accounting for up to 80% of overall success
  • Emotional intelligence plays a role in both professional accomplishments attributing more than half (60%) towards individuals achievements.
  • Most individuals believe they possess self awareness. Only a small percentage, 10-15% truly exhibit this trait.
  • People with higher emotional intelligence (EQ) scores earn an average of over $29,000 more annually compared to those with lower EQ. Having emotional intelligence is associated with career advancement and increased productivity. It’s not surprising that individuals with EQ tend to have higher incomes than those with lower EQ levels. However there’s no need to worry much because as you grow older your emotional intelligence tends to improve and you can work on enhancing it over time.
  • For every point increase in your EQ score you can expect $1,300 in your earnings. While IQ scores may reflect a person’s job related skills and abilities, having a high EQ score seems to be a predictor of success. Nevertheless improving your intelligence also comes with benefits.
  • Leaders who have empathy outperform their counterparts by 40%[10]
 ”

Developing greater emotional intelligence

A Venn diagram showing the relationship between self-concept, self-efficacy, and self-esteem.

See also: Self-awareness and Self-regulation and Self-control and Listening skills and Empathy and Interpersonal skills and Social intelligence and Mindfulness (Psychology) and Stress management and Peak performance and Sport psychology and Metacognition and Positive thinking and Optimism and Self-talk and Hope and Rational thinking and Critical thinking

"To increase emotional intelligence, focus on developing self-awareness by recognizing your own emotions, practicing active listening to understand others' feelings, cultivating empathy, managing your emotions through techniques like deep breathing, and seeking feedback on your emotional responses to situations; essentially, becoming more mindful of your own emotions and how they impact your interactions with others."[11]

A study of information technology (IT) professionals found that with only two days of training, emotional intelligence scores increased by 7%.[12]

Source: How to increase emotional intelligence

Articles:

Videos:

Sales and self-awareness training

See also: Self-awareness

Self-awareness training helps salespeople understand their: emotions, behaviors, and how they impact sales interactions. This leads to improved sales performance and business/customer relationships.[13]

Source: Sales and self-awareness training
Source: Sales and self-awareness training

Article:

Videos:

Sales and empathy training

Empathy training in sales enables professionals to: understand and share customer perspectives; fostering trust; build deeper and stronger relationships This ultimately leads to higher customer satisfaction and higher sales volume/success.[14]

Prominent sales trainers, sales training companies, YouTube channels and podcasts

Podcasts:

Business to business selling podcasts:

See also

References

  1. ↑
  2. ↑ Investing in Salesperson Training Can Have Up to 353% ROI: Why it Pays to Develop Your Talent, HireDNA.com
  3. ↑ Sales Training: Is It Worth It?, Training Industry website
  4. ↑ Domains of Emotional Intelligence, MBA Knowledge Base
  5. ↑ Emotional intelligence
  6. ↑ Domains of Emotional Intelligence, MBA Knowledge Base
  7. ↑ 5 Reasons Why Emotional Intelligence Matters in Sales, Business.com
  8. ↑ [The Importance Of Emotional Intelligence At Work], Forbes, 2023
  9. ↑ 9 Stats That Prove Your Mood Can Impact Sales Performance, Hubspot.com
  10. ↑ 47 Emotional Intelligence Statistics & Facts
  11. ↑
  12. ↑ White paper - Emotional intelligence
  13. ↑
  14. ↑
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