Sales managers have one of the most complicated tasks in any sales organization. After all, their responsibilities combine things like sales development, customer management, training, and coaching. Yet, in a great number of businesses, their professional development is not a top priority.
This is because sales managers often follow the same path. More often than not, they’re promoted to that role because they are effective salespeople. Yet, once they’re in the role, they are largely left to their own devices. However, world-class businesses understand why it’s important to focus on sales manager development, rather than letting it fall to the wayside.
Prepare sales managers for the challenges they’ll face with job-specific training. See how sales teams use Lessonly to enable their leaders and reps for success.
Sales management training is lacking
In the 2017 Sales Manager Enablement Report, CSO Insights, a research division of the Miller Heiman Group, revealed that investment in sales management training lags significantly behind investment in training for other sales staff. In fact, 18.6% of companies do not make any investment in sales management training whatsoever.
To put that figure into perspective, the number of organizations that make no investment in training for core sales teams stands at just 5.5%. That means that sales managers are more than three times as likely as ordinary salespeople to receive no training—despite the importance of their role.
“One possible explanation is a lack of general awareness of the impact,” says Tamara Schenk, research director of CSO Insights. “Often it isn’t so much the cost of the investment as it is the lack of perceived value.”
The impact of training sales managers
Despite the lack of investment, the same study made clear that the impact of developing sales managers is well worth the cost. The organizations that spent more than $5,000 for training per person each year saw better quota attainment, revenue attainment, and win rates than organizations that spent less.
The value of training sales managers was perhaps best demonstrated through win rates. The average win rate for forecasted deals across the entire study was 46.2%. Among businesses that invested less than $500 annually in developing sales managers, the average was 46.1%. Companies that spent more than $5,000, however, saw win rates of 51.4%.
Truthfully, the value of investing in training goes beyond mere numbers, because the average sales manager has more than six people reporting to them. It is only through effective training that sales managers can learn sales development, coaching, and customer management skills, which can positively impact their team of reps.
In order to drive team performance, successful sales managers need to be equipped with key knowledge and skills. See four training needs for sales managers here.
There’s more to a successful sales manager than promoting a winning sales rep. An investment in high-quality training for sales managers has the potential to positively improve the performance of the entire team—and the overall business.
Deliver sales management training with Lessonly
Lessonly helps sales managers learn and practice the skills they need to be quality leaders. Lessonly’s powerfully simple software makes it easy for managers to share knowledge, train reps, and lead their team to success. Learn more, or demo Lessonly today.