Every year, American businesses spend billions of dollars on employee training programs in an effort to maximize the productivity of their staff. The associated costs of these initiatives, from instructors and travel to printing and time spent in the classroom, erode profit margins and increase operational expenditures.
Through the integration of learning management systems (LMS), your company can substantially reduce costs while creating a workforce trained to meet your expectations. By cutting expenses, you will see a corresponding increase in profits due to the following aspects.
- Users dedicate more time to forward-facing tasks: Time spent away from customers is time not spent making sales. Requiring employees to attend in-person training seminars limits their ability to interact with customers and build the relationships necessary to make sales. An online or mobile LMS allows flexibility in when and where users engage with training, giving them more freedom to make sales.
- Users are more productive in their downtime: Downtime crops up periodically throughout the day. Too often, employees waste it on activities unrelated to business. With an LMS, users can complete short training exercises when there is a break in their day. You can customize training modules to be as long or short as you want, and this variation is perfect for staff looking to be productive during downtime.
- Users are more knowledgeable about your products: You would not want to purchase a car from someone who can't tell you the vehicle's fuel efficiency, or a computer from a salesperson who doesn't understand the difference between a CPU and a GPU. Your customers are the same way. Consumers feel confident spending money when the salesperson with whom they interact seems like an expert in a product's features. Product knowledge training keeps users informed about the latest changes to your product lineup and enables them to give expert answers when customers have questions.
- Users are more educated about related products and services: It is not only important that users understand the ins and outs of the products you’re pitching, but also how those items relate to your other offerings. If you own a computer parts store, an online training program can teach your sales team which power supply upgrade to recommend when a customer wants to buy a new graphics card, then demonstrate the best way to prompt the consumer to pay for in-store installation.
- Users are more in tune with company policies and procedures: One of the goals of LMS is to keep users and management on the same page with regard to company policies and procedures. For instance, with the holiday shopping season approaching, you may want to implement a new receipt policy company-wide. Instead of spending money on printing signs that employees won't read or holding in-person training sessions to talk about the changes, simply require users to log into the learning management software and complete a training module on the new rules.
Online LMS tools reduce the costs associated with employee training programs and empower you to make training a priority for your staff. Users of an LMS solution come away with the tools and knowledge necessary to be better salespeople and increase company profits.
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