It may not feel like it yet, but the fiscal year is already winding down. As the fourth quarter approaches, how close have you gotten to hitting EOY targets? Will the sales team you have today get you there?
If you’re not feeling too confident about either answer, it still is not too late to turn things around before Q4. Consider these tips to get your organization, and especially your sales team, into shape so that you can cross your EOY with flying colors.
1. Upskill the Bottom Half of Your Sales Team
How big was the gap between your top and bottom performers heading into the second half? A huge rift can highlight your area with the most potential to leverage additional sales. After all, if your top performer is selling $500,000, asking him to simply “sell more” is not really the answer.
Instead, the real answer is getting the bottom half of the team to start pulling their weight. Research shows that more than half of salespeople close less than 40 percent of the time. Yet, sales management often focuses on top sellers while neglecting the part of their sales team that needs the most training and coaching support.
Some sales management staff may wonder how to boost the skills of the bottom half of their team in a way that can scale and that does not take their top performer out of the field. The solution? Pay more attention to the middle 50 percent of the team and let the knowledge trickle down. Providing ongoing development and coaching opportunities for the entire sales team is essential, but prioritization reigns when heading into the EOY home stretch.
2. Align Your Budget with Your Goals
Any budget you have left over should be used to invest in meaningful solutions that lift your bottom line. Instead of wasting money on things like company outings or a destination SKO, invest in something that offers a short term and long term ROI — like sales training. The American Society for Training and Development reports that continuous sales training can contribute to a 50 percent increase in sales per employee. Forrester Research has also determined that 75 percent of employees say they would rather watch video for their sales training than any other method.
Align your budget towards learning platforms like LearnCore in order to improve the skills of your staff, reinforce learning throughout the year and generate higher ROI. Our platform has been shown to work efficiently and effectively, boosting individual performance by 17 percent in as little as five days.
3. Cut the Buddy Cord
Shadowing someone for a day has quickly become an outdated training method. Remove the buddy cord, take the ride-along out and let your top earners focus on their jobs. Learning technology platforms like LearnCore are modern training solutions that generate real results without burdening team members. On average, LearnCore has freed up 5 hours per month of sales management time. This benefit has allowed sales managers to interact with more people in less time and at less cost to the company.
LearnCore’s unique video training techniques allow members to work both on their own and remotely one-on-one with you and your staff all within their own schedule. Companies like AOL have discovered the power of the LearnCore program, who used it to rapidly onboard 600 new employees for their brand new marketing division.
LearnCore’s sales-oriented Pitch IQ system diagnoses sales skills underperformance and helps you develop a program to strengthen your team’s abilities using the latest best practices. Click here to discover more about how LearnCore can unlock the potential within your team before EOY comes flying past.