Bloomberg Business Week recently published an article that discussed the impact of sales coaching on revenue.
According to the article most organizations realize that improving the coaching skills of sales managers has a significant impact on overall sales performance. On the heels of this realization, 90% of organizations have implemented training programs designed to improve the coaching skills of sales managers, according to a study done by the Corporate Executive Board (CEB).
While recognizing the link between coaching and sales success is a good first step, the same study showed that the majority of companies aren’t using the sales coach training they implement in a way that accesses its full potential. This results in missed opportunities in revenue growth, margin enhancement, forecast accuracy, and conversion rates. In addition, retention and engagement of top sales reps suffers.
You know that sales coaching training can significantly improve your bottom line, so it would be a shame to spend all that money on coaching programs then fall short of putting them to work. Here are five pitfalls identified by CEB, and how TurnKey’s addresses each point.
1. Generic Coaching Training Content.
What would happen if the Miami Heat were given the same training program as, say, the New York City Ballet? They may be just as physically fit, but there’s no doubt their ball-handling skills would suffer. One-size-fits-all training models are killers. TurnKey looks at your specific goals, your sales model, and your sales team, and custom-tailors the coaching program.
2. Discontinuous Coaching Approach. Coaching is a journey.
If you’re going on a journey, you can’t reach your destination without passing through the towns that come before it, accelerating at certain points, slowing down at others, and making a few wrong turns here and there. TurnKey realizes that coaching is the sum of its parts, and not a series of individual events. Our ability to assess progress over time and report on coaching accomplishments allows for a level of consistency that is unmatched in the industry.
3. Blurred lines between Coaching and Performance Management.
Just as professional tennis players develop their skills on the safety of the practice court, away from the pressure of matches that “count” and cheering crowds, salespeople are best coached in a “safe” environment. At TurnKey, we differentiate between coaching sessions and performance management discussions.
4. Lack of an Effective Coaching Infrastructure.
With an eye on long-term results, TurnKey sets up a coaching process that involves everyone, from employees to senior managers. The progress of coaching is evaluated and adjusted on a regular basis, so coaching becomes part of the sales process, and not something that’s done in passing.
5. Managers’ Failure to Accurately Observe Behavior.
The Boston Red Sox needed a radically different game plan to win the 2007 World Series than they did to win the 2004 World Series. Managers must be taught how to observe behavior, as well as how to react to behavior to engage change. TurnKey’s executive coaching program focuses on skills needed today, not those that were needed last year, or at another organization.
If you’ve made the commitment to sales coaching you’ve taken the first step in improving your bottom line. Imagine your sales managers coaching sales reps to better forecasting, higher margins, and increased revenue. Imagine your sales managers having the skills and knowledge needed to hold on to your best sales people! Contact TurnKey Coaching Solutions today, and we’ll show you how to access the full potential of your sales coach training.
Call TurnKey Coaching & Development Solutions at 281-469-4244.