According to market intelligence firm IDC, one in three sales is lost due to lack of sales preparation. Moreover, IDC estimates that for a typical $1 billion company, poor sales preparation results in $14 million in wasted sales and marketing expenses, and $100 million in lost sales opportunities.
When your reps aren’t ready to sell, you’re leaving money on the table. And that’s a problem, considering the average organization spends 73 days training entry-level sales reps, and even experienced sales pros still need an average of nearly a week’s time in training each year to stay up to speed.
According to Brandon Hall Group analysts, eLearning can save your sales team up to 35% of the time it normally spends training employees on-site. And that means your reps can spend less time in the classroom and more time closing deals. So how much could your organization be saving?
Potential Savings
The results are astounding. By investing in video-based eLearning for sales training you can give your sales reps more time back to sell, allowing for potential revenue gains of annually.
(Calculations shown in US Dollars)