Would you say that your sales team understands your company’s products exceptionally well? An expertly trained sales staff is essential to a successful business. Studies show that learners with an above-average understanding of their organizations’ offerings are 12 percent more effective than users with only average product knowledge and more than 25 percent more effective than those with below-average understanding. A learning management system (LMS) is a fast and efficient way to introduce product training to your sales staff. Training management software produces results in several different ways.
When a sales team has more accessible, current and relevant product training, learners are not only more confident, they will improve their sales closing rates. We conducted a study that revealed of the participating distributors, 81 percent reported increased sales and 89 percent reported improved customer service as a result of online training.
Coleman Cable is a great example of a company that experienced amplified sales due to its increased user enrollment in product training. In two-and-a-half years, the firm had more than 3,000 users enroll in its online training programs. The overwhelming enrollment rate also helped bolster Coleman’s product sales.
If you would like to calculate how increased product training will positively affect your sales, you can use our useful ROI Calculator.
With in-person product training, every time you offer a new product to your customers, you have to hold an educational session. Not only do these seminars prevent staff from making sales, you must also pay someone to demonstrate the product. E-learning platforms provide instantaneous training solutions available as soon as the coursework is uploaded. Rather than waiting for a class, your staff can access the product specifications immediately.
Salespeople who feel they have a firm grasp on your products or services are more confident when they interact with customers. They know they can answer questions because they understand your offerings inside and out. Furthermore, purchasers demand and expect salespeople to exhibit sufficient product knowledge. Although 93 percent of the time industrial purchasers feel that salespeople possess satisfactory product knowledge, it’s important to recognize that the other seven percent can dramatically impact your sales in a negative way. Rather than engaging in hesitant interactions and praying they don't come up against a query they can’t answer, your sales team members’ should be confident, knowledgeable, engaging and trustworthy in the eyes of the consumer.
E-learning platforms ensure learner compliance with product training requirements by providing managers with the data from user education and testing. This information shows you which members of your team are committed to learning about your products and which users are lagging behind. You can then use these findings as a contributing factor when determining subsequent training, raises and promotions.
Cross-training allows greater flexibility in scheduling and staffing, while helping the sales team sell across departments. An eLearning platform teaches users about the products and services that exist throughout the company or the store and helps them serve customers more effectively. For instance, with the right product knowledge, a distributor counter sales representative showcasing a multi-speed fan can confidently recommend the best switches and duct sizes.
Over time, product training becomes outdated, especially for innovative products that undergo frequent technology and design modifications. E-learning platforms offer refresher or recertification courses to keep user knowledge sharp and current. And again, with the tracking and reporting functionality, managers can quickly determine who hasn’t complete the updated training.
The greatest strength of eLearning platforms is that they are accessible from anywhere, provided the user has a computer, tablet or mobile device and an Internet connection. Your salaried and commissioned staff can access training modules off-hours from the comfort of their own homes or when they are away on business. In addition, the platforms’ mobile accessibility allows team members to pull up product datasheets while they are on sales calls, ensuring representatives never have to give incomplete information to potential customers.
It’s easy to see why your sales team needs a firm grasp on your company’s offerings. Building product knowledge enables your staff to give customers a better service experience and bolsters your bottom line. The quickest way to achieve this objective is through the integration of an LMS as part of your hiring and training programs. Contact BlueVolt for more information or with questions about incorporating an LMS into your business.