The Latest Sales Training Industry Statistics Explained
The global eLearning market, integral to remote sales training, is expected to reach $336.98 billion by 2026.
The statistic indicates that the global eLearning market, which plays a significant role in providing remote sales training, is projected to grow to an estimated value of $336.98 billion by the year 2026. This forecast showcases the increasing importance and adoption of online learning platforms in the realm of sales training, as organizations and individuals alike recognize the flexibility, cost-effectiveness, and accessibility that eLearning offers. The substantial growth predicted in this market aligns with the broader trend towards digital transformation and the shift towards remote work and virtual training solutions, highlighting the continued evolution and expansion of eLearning technologies in the sales training sector.
29% of salespeople are not adequately trained, according to CSO Insights.
The statistic that 29% of salespeople are not adequately trained, as reported by CSO Insights, suggests that a significant portion of sales professionals may lack the necessary knowledge and skills to perform effectively in their roles. This finding raises concerns about the potential impact on sales performance, customer satisfaction, and overall business outcomes. Inadequately trained salespeople may struggle to meet sales targets, build relationships with clients, or navigate complex selling situations. As a result, companies may experience lower revenue numbers, decreased customer retention, and missed growth opportunities. Addressing this training gap is crucial to empowering sales teams and enhancing their ability to drive success in competitive markets.
The average large company spends $189,000 in sales training annually, states ATD research.
The statistic states that, on average, a large company invests $189,000 in sales training each year according to the statistics from the Association for Talent Development (ATD). This figure represents the amount of financial resources dedicated by companies towards providing training and development for their sales teams. Investing in sales training is essential for organizations to equip their employees with the necessary skills and knowledge to effectively drive sales and achieve business objectives. By allocating substantial funds towards sales training, companies can improve the performance and productivity of their salesforce, ultimately leading to increased revenue and business success.
A Training Industry, Inc. report revealed that 62% of companies deliver sales training via blended learning.
The statistic indicates that according to a report by Training Industry, Inc., a majority of companies (specifically 62%) utilize blended learning as a method to deliver sales training within their organizations. Blended learning typically involves a combination of traditional in-person training sessions and online or digital learning components. This approach allows companies to leverage the benefits of both in-person interactions and the flexibility and scalability of online learning resources. The high percentage of companies embracing blended learning for sales training suggests a recognition of the effectiveness and efficiency of this approach in enhancing the skills and knowledge of sales professionals within the organizations.
55% of salespeople lack basic sales skills, per The Brevet Group.
The statistic “55% of salespeople lack basic sales skills, per The Brevet Group” suggests that a majority of individuals working in sales do not possess fundamental competencies required for effective sales practices. This statistic may signify a gap in training or education within the sales industry, highlighting a potential issue with the recruitment, development, or ongoing support of sales professionals. As a result, organizations may face challenges in achieving their sales targets and goals if a significant portion of their sales force is not adequately equipped with essential sales skills.
Only 3 in 10 reps that receive ongoing training reach their sales quotas, according to CSO Insights.
The statistic “Only 3 in 10 reps that receive ongoing training reach their sales quotas, according to CSO Insights” highlights the impact of ongoing training on sales performance. With a 30% success rate, it suggests that regular training for sales representatives plays a crucial role in helping them achieve their sales targets. The statistic implies that companies that invest in continuous training programs for their sales teams are more likely to see improved sales outcomes compared to those who do not prioritize ongoing skill development. This data underscores the importance of providing comprehensive and consistent training opportunities to sales professionals to enhance their performance and ultimately drive business success.
The average spending on sales training per person is about $954, as stated by ATD.
The statistic “The average spending on sales training per person is about $954, as stated by ATD” indicates that the average amount of money invested in sales training per individual by organizations, as reported by the Association for Talent Development (ATD), is approximately $954. This figure suggests the average financial commitment that businesses are making toward enhancing the sales skills and performance of their employees. Understanding the average expenditure on sales training per person can provide insights into the importance that organizations place on developing the sales capabilities of their workforce and the resources allocated for training initiatives to drive sales growth and performance improvements.
84% of all sales training is lost after 90 days, according to the Training Industry, Inc.
This statistic indicates that a significant proportion, specifically 84%, of the knowledge and skills acquired through sales training programs are forgotten or not effectively applied within a relatively short period of 90 days. This suggests that there may be issues with the retention and application of training materials, potentially leading to a lack of sustained impact on sales performance in the long term. It highlights the importance of incorporating strategies to reinforce and maintain the learned concepts over time to maximize the return on investment in sales training initiatives.
73% of sales managers say they need help coaching, according to The Brevet Group.
The statistic that 73% of sales managers say they need help coaching, sourced from The Brevet Group, suggests a significant portion of sales managers feel they require assistance in improving their coaching skills. This data highlights a potential gap in the proficiency of sales managers when it comes to coaching their sales teams effectively. The finding implies that there may be opportunities for organizations to provide training and support to sales managers in order to enhance their coaching abilities, ultimately leading to improved performance and outcomes within the sales department.
Sales training programs can improve sales by up to 20%, as found in a study by The Brooks Group.
The statistic “Sales training programs can improve sales by up to 20%, as found in a study by The Brooks Group” indicates that based on research conducted by The Brooks Group, participating in sales training programs can lead to a potential increase in sales performance by as much as 20%. This suggests that individuals or teams who undergo effective sales training are likely to experience a substantial boost in their sales outcomes compared to those who do not receive such training. The statistic highlights the significant impact that targeted training and development initiatives can have on enhancing sales skills, strategies, and overall performance within the sales industry, emphasizing the value and effectiveness of investing in sales training programs.
Independent research firms estimate that that the annual spend on sales training in the U.S. is approximately $5 billion.
This statistic indicates that independent research firms have calculated the total amount of money spent on sales training within the United States to be around $5 billion annually. This figure gives insight into the significant investment companies in the U.S. are making to train their sales personnel. By quantifying the financial commitment to sales training, businesses can assess the value and importance they place on developing their sales teams. This statistic also suggests that the sales training industry is sizeable and plays a critical role in enhancing the skills and performance of sales professionals across various sectors in the U.S.
High-performing sales teams are 2x more likely to provide ongoing training than low-performing teams, according to the Salesforce State of Sales Report 2020.
The statistic indicates that high-performing sales teams are twice as likely to offer ongoing training compared to low-performing teams, as reported in the Salesforce State of Sales Report 2020. This suggests that investing in continuous training and development for sales staff may have a positive impact on sales performance. Ongoing training can help sales teams stay updated on industry trends, improve their skills, and adapt to changing customer needs, ultimately leading to better sales outcomes. By prioritizing ongoing training, high-performing sales teams can continuously improve their performance and maintain a competitive edge in the market.
40% of employees who receive poor job training leave their positions within the first year, notes Go2HR.
This statistic indicates that there is a significant association between the quality of job training provided to employees and their likelihood of leaving their positions within the first year. Specifically, 40% of employees who receive poor job training decide to leave their jobs early. This highlights the importance of effective training programs in fostering employee retention and job satisfaction. Employers should prioritize providing comprehensive and relevant job training to ensure that employees feel equipped and supported in their roles, ultimately reducing turnover rates and the associated costs of hiring and training new employees.
According to LinkedIn’s “Climbing the Learning Curve” report, 59% of hiring managers do not believe that higher education adequately prepares students for the sales business.
The statistic from LinkedIn’s “Climbing the Learning Curve” report indicates that a significant majority, 59% of hiring managers, feel that higher education does not adequately prepare students for the sales industry. This suggests a potential discrepancy between the skills and knowledge imparted by traditional higher education institutions and the practical requirements of a sales career. Hiring managers may perceive a gap in areas such as sales techniques, customer relationship management, and other essential skills crucial for success in sales roles. As a result, this statistic highlights the importance of targeted training and development programs to bridge this gap and better equip individuals for the demands of the sales business.
More than 50% of companies say that successful sales training requires “meaningful” activities that learners can relate to their jobs, as uncovered by Training Industry, Inc.
The statistic that more than 50% of companies believe successful sales training necessitates “meaningful” activities that learners can directly apply to their jobs, as reported by Training Industry, Inc., indicates a prevalent belief in the importance of practical and applicable training methods in the field of sales. This finding suggests that companies recognize the value of engaging learners in activities that are relevant to their roles, enhancing the effectiveness of training programs and promoting better retention and application of new skills. By emphasizing the importance of meaningful activities that align with real-world job responsibilities, organizations are likely aiming to ensure that their sales teams receive training that directly translates into improved performance and productivity.
The global sales training market is projected to grow at a CAGR of 11.8% from 2021 to 2026 according to MarketsandMarkets.
This statistic indicates that the global sales training market is expected to experience a compound annual growth rate (CAGR) of 11.8% over the period from 2021 to 2026, as projected by MarketsandMarkets. This suggests a significant and consistent growth trend in the sales training industry over the next five years, driven by factors such as increasing demand for upskilling and professional development among sales professionals, advancements in technology impacting sales strategies, and the growing emphasis on enhancing sales team effectiveness worldwide. Organizations and individuals operating within the sales training sector should pay attention to this projection as it highlights opportunities for market expansion and evolving business strategies to capitalize on the anticipated growth.
The ROI of sales training is 810%, reveals a study by The Brooks Group.
The statistic that the ROI of sales training is 810%, as revealed by a study conducted by The Brooks Group, indicates that for every dollar invested in sales training, there is a return of $8.10 in terms of increased sales and profitability. This suggests that sales training is highly effective in enhancing the performance of sales teams and driving revenue growth for organizations. A high ROI percentage like 810% highlights the significant impact that investing in sales training can have on the bottom line of a business, making it a worthwhile and lucrative investment for companies looking to improve their sales outcomes.
A CSO Insights study found that only 1 in 3 companies are experiencing effective sales onboarding programs.
The statistic from a CSO Insights study indicates that a significant majority of companies, specifically two out of every three, are not effectively implementing sales onboarding programs. This suggests that many companies are struggling to properly train and equip their sales teams to perform at their best potential, which may impact their overall sales performance and, ultimately, their business success. This underscores the importance for organizations to invest in improving their sales onboarding processes to ensure that new hires are quickly integrated, trained, and equipped with the necessary knowledge and skills to drive sales growth and meet business targets.
References
0. – https://www.www.researchandmarkets.com
1. – https://www.www.brevetgroup.com
2. – https://www.www.sellingpower.com
3. – https://www.www.marketsandmarkets.com
4. – https://www.www.salesforce.com
5. – https://www.www.go2hr.ca
6. – https://www.business.linkedin.com
7. – https://www.www.td.org
8. – https://www.www.salesperformance.com
9. – https://www.brooksgroup.com
10. – https://www.trainingindustry.com
