Big or small, if your sales organization is like most, it aims to hire and retain sales reps with exceptional selling skills and sales judgment. For new hires, time will be spent getting to know each potential rep and trying to suss out whether or not they will be a “good fit”. Perhaps your HR team will even administer a pre-hire sales assessment.
For the current sales team there will be periodic mandatory sales training sessions, one-on-one sales coaching by sales management, and sales quotas designed to challenge each seller.
And it’s been that way for decades. Until now.
Increasingly, sales technologies including Sales Performance Intelligence are disrupting the way sales organizations hire and manage their teams.
So what is Sales Performance Intelligence?
Sales Performance Intelligence is a formal program in which a company uses analytics to predict sales performance and make data-driven management decisions for each seller on the sales team. Sales Performance Intelligence is used in each phase of a seller’s tenure including hiring, onboarding, ongoing sales education and sales development.
At Selleration, we think of Sales Performance Intelligence as involving four things:
- Predictive Analytics
- Conversation Intelligence
- Modern Sales Training
- Gamified VR Simulated Sales Role-Play
3 Reasons Why Your Team Needs a Sales Performance Intelligence Platform
#1 – The future is now.
Imagine a sales manager in 1983 wondering if computers are worth the expense. Or, the skepticism sales reps from a startup called Salesforce were met within 2000. Sales Performance Intelligence is as game-changing as these other, now standard but once cutting-edge, sales technologies.
Early adopters to technology are at a distinct advantage. They have access to data that their competitors don’t, can make decisions more confidently since they are data-driven, and can work proactively to remediate a problem rep’s selling skills before putting them into another selling situation – or waiting until for dismal sales results at the end of a quarter. Embrace technology as a tool and use it to your advantage early.
We are only beginning to see the possibilities of technology such as Virtual Reality in corporate training.
#2 – It’s Personal
Traditional sales training, whether for onboarding a new hire or bringing a seasoned rep up to speed on a new product, typically consists of two components: classroom lectures and sales role-plays.
While these methods can be effective, they have one big drawback. Training in a classroom with lectures and role-plays last for a few days at the most. For a few reps, that is adequate – but for most it’s just not enough time to hone skills and strengthen their selling weaknesses. When reps train in a virtual environment, including the use of Virtual Reality Sales Conversations, they can progress at their own pace.
Gene Feldman M.A.Ed., Training Manager, Nestlé Purina Pet Care North America, saw this first hand, “We had one sales rep repeat an UPtick conversation 78 times. They wanted to make sure they did it better than they did it before! The virtual sales environment just creates a much different scenario than two people in the back of a training room.”
#3 – The Results Are In
Early adopters of Sales Performance Intelligence are already seeing results:
A new survey shows that companies who have implemented UPtick™ Sales Performance Intelligence software saw decreases in time to revenue and more overall wins.
On average, only 60% of B2B sales reps make quota each year, but organizations that provide ongoing coaching and training reinforcement have four times more reps meeting quota.
A leading financial services firm yielded new revenues of $23.5 Million in year one of an UPtick™ Sales Performance Intelligence program, with two territories swinging from $27.9 to $51.4 Million.