This post shares insight from our new report: “Sales Enablement 2.0 — The Solution for Solving Revenue Growth Challenges.” Download now.
When a portfolio company’s revenue fails to meet a private equity owner’s target, something has to change. A company’s founders might be tempted to jump on the fastest solution to turn things around quickly.
One common quick fix often deployed is sales training. But there is a universal truth about sales training programs that does not seem to be universally understood. Sales training programs almost always fail to increase revenue growth.
The Problem with Sales Training as a Quick Fix
From 85% to 90% of sales training programs have zero lasting impact after 120 days, according to a study by ES Research.
Another study found that standalone sales training programs result in learners forgetting 75% of what they were taught within just six days.
Despite the negative results, organizations spent $370 billion globally on training in 2019. The Harvard Business Journal posed a question to business leaders: Was their investment in training worth it? The conclusion: No.
Some of the findings include:
- 75% of managers were dissatisfied with their company’s learning and development function
- 70% of employees said they don’t have mastery of the skills needed to do their jobs
- Only 12% of employees applied new skills to their jobs
By anyone’s measure, these findings represent a bad return on investment.
If Not Sales Training, Then What?
The main problem with most sales training programs is that they don’t address one fundamental criterion — the way people learn. One- or two-day training events are like Band-Aids. They only last as long as the adhesive holds out. The programs don’t provide the essential, lasting ingredients of successful sales training — repetition, feedback, and reinforcement.
Another essential ingredient is customization. To be effective, sales training needs to speak directly to a company’s unique sales process. This includes the series of stages of the buyer’s journey — from acquiring new prospects to turning them into customers. Sales reps need to understand and work within this journey.
Think of acquiring sales skills like acquiring muscle memory. The goal should be to train salespeople so well that the right sales moves at the right time become second nature.
If sales training programs are not making a meaningful impact on revenue growth, what will? Sales enablement will — but only if it’s done right.
A Better Solution: Next-Generation Sales Enablement
While working with a wide range of portcos, we noticed a common gap in their sales organizations. Their salespeople do not have the right knowledge or the systems and technology support they need to consistently reach their sales quotas.
To overcome this gap, we created an enhanced sales enablement program we call Sales Enablement 2.0. It’s a unique and powerful lever for growth. We designed it to enable salespeople to guide their prospects through the buyer’s journey with skill, speed, and success.
Sales Enablement 2.0 transforms sales organizations from top-to-bottom. It gives sales reps the right knowledge, skills, and support they need to consistently reach their goals. It also gives portfolio companies a comprehensive improvement methodology that we deeply embed into your sales organization.
The reason our program works, while sales training doesn’t, is thanks to our secret sauce. Some of the ingredients include:
- Our unique “train the sales leader” approach, which triples the sales enablement impact
- Our “train, coach, reinforce” methodology, which pumps up reps’ sales muscle memory
- Our customized buyers’ journey mapping, which is specific to your company’s customers
We help fix everything that’s broken and rebuild processes until they run optimally. This sets up your company to generate the highest level of profitable growth.
“Done right, sales enablement delivers a clear path forward for opportunities, win rates, and revenue that reaches — or exceeds — the metrics important to each portfolio company,” said Dan Bernoske, Founder and CEO, Cortado Group.
What Can Sales Enablement Do for Your Portfolio Company?
If your revenue is lagging and your private equity owners are asking questions you can’t answer, it’s time to implement a robust sales enablement program.
As a portfolio company, you’re mandated to grow. Your private equity owners want results — fast. But if there are weak links in your sales team, you’ll continue to face challenges in consistently reaching your revenue goals.
Our goal is to transform your sales organization from top-to-bottom. Our holistic approach includes shaping your sales reps into sales powerhouses. You’ll be in a much stronger position to dependably achieve profitable growth and meet your sales numbers every time.
Learn more about Sales Enablement 2.0 in our new report: “Sales Enablement 2.0 — The Solution for Solving Revenue Growth Challenges.” The report includes insight from our sales enablement experts and a sales enablement success story from a portfolio company.