Does Your Sales Training Measure Up? By Randy Illig Franklin Covey Sales Performance Practice
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1 Does Your Sales Training Measure Up? By Randy Illig Franklin Covey Sales Performance Practice
2 Measuring ROI in your sales improvement initiatives can mean the difference between success and failure of those investments. To ensure success, we ve learned that you have to be willing to set appropriate expectations, hold the sales team accountable and doggedly measure results. There are multiple variables in the success of sales improvement initiatives there is no magic bullet. But since measurement is such a critical success factor, we ve focused on sharing those lessons learned here. Key Principles in Measuring ROI from Sales Training 1. Measure (only) what matters You can probably think of eight to 10 (or more) metrics you would like to improve in your sales organization right now that sales training can impact. The key is to aim at something specific. Pick just one or two of those metrics at the outset of the program, gear the training around improving those metrics, and then measure, measure, measure. When it s too complicated, it just won t work. 2. Have a process There are several techniques to measuring ROI, and none are perfect. The important thing is to select a method, create a process and follow it with discipline. Our preference is The ROI Methodology TM developed by Drs. Jack and Patti Phillips (see sidebar on page 6). 2
3 3. Get aligned Whomever owns the results of the program should set the targets and be held accountable. One of the most common issues we see is when our clients are not clear on roles and responsibilities. Develop a RACI to determine who is Responsible, who is Accountable, who needs to be Consulted and who needs be Informed. Then align accordingly. 4. Report early and often, to everyone When it comes to measurement, transparency is vital. Only showing the positives makes leaders skeptical and misses an opportunity to help the team learn. Be transparent about how metrics are being calculated, where the numbers are coming from and report on it all the good, the bad and the ugly. When everyone sees that, they ll have more confidence in the measurement process and the results. 5. Capture the voice of the customer Metrics improve when behaviors change. While sales leaders and salespeople can play a big part in ascertaining whether change has occurred, the customer (or prospect) really knows what s going on. Ask them you ll be surprised what you can learn. 3
4 We ve seen even the most seasoned sales executives make crucial mistakes like assuming that they don t need to measure the impact of training or even worse, that training can t really be measured. For example, with one client the training was very well-received, but the client executive was flabbergasted when months later he couldn t prove that things had changed for the better. Now, before we begin any training program, we insist on a process that holds all participants accountable for changing their behaviors and adopting new skills that drive sales results and measuring the results. We work with sales managers to set, track, and report clear and measurable objectives before we conduct training. Throughout the program, we collaborate to conduct observations, assessments and simulations; use a proven process to capture critical metrics; and report our findings on a regular basis. The bottom line is that measurement matters. We ve seen what happens when these principles are followed. In one example, we were engaged to help the VP of Sales of a global leader in the integrated marketing space to implement a common sales methodology across their multinational organization. We had two specific goals: (1) increase average deal size, and (2) increase the number of deals over $1 million. With those results in mind, we agreed on leading indicators that would demonstrate we were moving in the right direction, and measured accordingly. The result? Average deal size up 18% Key deals over a million dollars up 33% There are myriad reasons to invest in sales training after all, why would American companies spend $20 billion annually on it?* But it s just not worth the investment unless the executive team validates that the training is working, which can be achieved through sustained execution, diligent measurement and frequent reporting. * American Society for Training & Development 4
5 CSO Insights validates this point in its 2013 Sales Performance Optimization study.** For the first time since the recent economic downturn, investment in sales training is up more than 10% year-over-year. What s even more interesting is that metrics such as percentage of reps meeting/beating quota, overall revenue plan attained, and levels of voluntary rep turnover were essentially the same regardless of amount spent per rep. But adding one key dimension consistency of using new training methodology in day-to-day selling activities significantly changes the outcome as shown in the table below. Annual Investment in Training and Consistent Use Reps Achieving Quota Rep Turnover: Voluntary/ Involuntary Forecast Deals Outcome: Won/ Lost/No Decision $0-$2,500 <75% of Reps Consistently Use Methodology 57% 12%/12% 43%/31%/26% $2,501-$5,000+ >75% of Reps Consistently Use Methodology 69% 7%/9% 51%/26%/23% As a final point, there is a bonus to measurement in that it moves the conversation from the subjective to the objective. The data you get from sound measurement is irrefutable if properly correlated between the training and results, as in the above example. Sales leaders can use that data to reinforce what they instinctively know needs to change. Measurement can support instinct. ** CSO Insights, Sales Performance Optimization: 2013 Sales Process Analysis 5
6 Show Me the Money: The ROI Methodology TM At Franklin Covey, we use a proven methodology to measure the effectiveness of sales improvement programs and initiatives. Developed by Drs. Jack and Patti Phillips of the ROI Institute TM and summarized in their book Show Me the Money: How to Determine ROI in People, Projects and Programs, this methodology provides a systematic approach with five levels of assessment to evaluate training programs and ensure credible, reliable results. Level 1: Relevance We begin by evaluating how participants react to their initial experience with a sales training program gauging their level of satisfaction and determining if they found the concepts relevant to their role. If participants apply what they are learning, then they will dramatically improve their personal performance. As an early indicator of adoption, we ask participants the Net Promoter Score (NPS) question: Would you recommend this program to a colleague? Level 2: Learning and Confidence A crucial element to an individual s long-term success is the ability to master the skills taught in the program. At this level, we assess whether participants have gained required knowledge and understand how to apply that knowledge in their daily practice. We also gauge participants confidence in their developing knowledge so that we can make adjustments to the program to provide more support where needed. Level 3: Application and Implementation Knowing what to do can only get you so far. True change comes from applying what you know and making adjustments based on the feedback you receive. As a third step, we look at how participants are applying the new skills, tools and insights they ve acquired and the results they are starting to achieve. Success is measured after participants have applied their new knowledge and skills on a routine basis. This provides the richest source of data of the five levels because it addresses program success from a system perspective, answering the question Does our system support the transfer of learning? 6
7 Level 4: Business Impact Ultimately, the purpose of any sales training initiative is to increase profitable sales for both the individual and the organization. Learning and applying new skills and tools is only valuable if it results in measurable impact for the business. At this level, we gather both qualitative and quantitative data to confirm if this is indeed happening. Qualitative information provides rich anecdotal evidence about how things like self-confidence, personal effectiveness, and client relationships are affected when sales people use the methodology. Quantitative information illustrates how important business metrics such as win rate, deal size and quota attainment are impacted by the program. Together, both types of data create a compelling portrait of tangible and intangible benefits to the business. Level 5: Return on Investment The ultimate measure of financial success is ROI, which compares the monetary benefits to the costs of the program. To develop ROI, we conduct six steps of cost-benefit analysis: Step 1. Identify the business impact measures that have changed. Step 2. Isolate the effects of the program on the impact data. Step 3. Convert the impact measures to monetary value. Step 4. Tabulate the fully loaded costs. Step 5. Identify the intangible benefits (impact measures not converted to money). Step 6. Compare the monetary benefits to the cost. Ensuring you have credible data sources and conservative estimates to isolate effects is key to effectively implementing this methodology. Being vigilant in collecting and analyzing this information at each of the five levels can ultimately enable you to identify the ROI of your sales training programs. And remember, no data equals no improvement. 7
8 Meet the author When it comes to sales, Randy Illig is one of the go-to professionals. An idea guy with a point of view who has an uncanny ability to also be a great listener, Randy is the global leader of Franklin Covey s Sales Performance Practice, which helps to train, consult and coach clients on how to win more profitable business. He s co-authored a book (Let s Get Real or Let s Not Play Transforming the Buyer/Seller Relationship) and is an avid reader in the sales space, constantly challenging his own ideas and those of others. He consults from experience, having successfully founded, built and sold two successful companies and winning awards along the way, including Ernst & Young s Top CEO under 40, CEO of one of Inc. 500 s fastest-growing companies, and the Arthur Andersen Strategic Leadership award. Most importantly, Randy is known for his sense of humor and storytelling just ask him about fishing, hunting, golfing, and his wonderful wife and daughter. For more information about Franklin Covey s sales training solutions, call us at You can also visit Leadership Execution Productivity Trust Customer Loyalty Sales Performance Education
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