So, you're thinking of building your own sales training program? You've got a cup of coffee, your best flowchart software open, maybe even ChatGPT and a twinkle of ambition in your eye. But hang on a second, before you become the Picasso of PowerPoints and the Shakespeare of Sales Scripts.
Let's talk about the numbers and logistics of putting it all together. It's like assembling IKEA furniture; you don't want to get halfway through only to realize you needed a specialized tool you don't own.
The Financial Investment in Development
Creating an in-house sales training program is not a "buy some markers and a whiteboard" sort of deal. For an enterprise organization, costs could easily reach into the hundreds of thousands, if not millions, when you consider the following:
- Needs Analysis & Curriculum Development: Just the planning stage could cost you $50,000 to $100,000.
- Content Creation: Think PowerPoints, workbooks, etc., costing around $100,000 to $250,000.
- Instructors: They don't work for free. Factor in another $100,000 or more annually per instructor. Most top tier facilitators have a daily rate of $3000-5000.
- Video Production: Video isn't cheap; we're talking $5,000 to $10,000 per minute for quality content.
- Role-Plays and Exercises: Each session could add another $10,000 to $25,000.
- Interactive Online Courses: Development of effective eLearning can cost another $5,000 to $10,000 per module.
Other Hidden Costs and Risks
- Quality Control: Who checks the program's efficacy? More personnel means more costs.
- Legal & HR Compliance: Did you consider that? Neglect it and face fines or lawsuits.
- Employee Morale: Ineffective training programs can disengage your workforce.
What are you not doing while you're crafting your magnum opus of sales training? Growing your business. Let's say you spend six months developing this program. In that time, Sandler's program could have already trained your team and started reaping the benefits. The longer your sales team operates without effective training, the more revenue you lose. If you generate $1M per month and good training could boost that by just 10%, you're losing $100,000 every month your team is not trained.
The Risks of Ineffectiveness
You know that recipe you tried off Pinterest that ended up tasting like cardboard? DIY sales training has the same risks. If it doesn't effectively boost your sales, you've not only wasted time and money, but now you've also got a team trained in ineffective techniques. Yikes! In contrast, Sandler has a track record. It's the Michelin-star restaurant of sales training.
Keeping Up with Market and Tech Changes
Sales isn't a "set it and forget it" game. Your training has to adapt to shifts in consumer behavior, economic trends, and technological advancements. Keeping an in-house program updated would require constant attention and, you guessed it, more money. According to Training Industry, organizations already spend $13.5 billion on sales training annually, and it's not a one-time cost. New updates mean new costs.
The Cost of Developing Multiple Learning Modalities
From online courses to in-person seminars, people have their own learning tastes, preferring podcasts to books or Netflix to theaters. Each format has its costs. Modern sales training has to be delivered across a variety of mediums and modalities, so it can multiple your development costs and be complex to manage with a small enablement team.
The Sandler Advantage
Don't reinvent the wheel; get the sports car that's ready to go. Sandler brings expertise, a track record of success, and cost-efficiency. With Sandler, you're not just buying a service; you're investing in decades of proven expertise with over a million salespeople. We're talking a well-oiled machine of over 400 trainers who live and breathe sales training every day. Our sales methodology is based on years of research, customer feedback, and real-world application. So, you're not just getting a sales training program; you're getting the highly-optimized Sandler Selling System designed to supercharge your team's performance.
You are probably looking for something custom, though. Don’t worry. We know one size doesn't fit all in the world of sales. Sandler has been providing a range of customizable programs that can fit your industry, organization, and specific growth gaps. If your team is already well-versed in basic sales techniques, Sandler can dive deep into advanced strategies that deliver results. And as your team expands, you don't have to worry about onboarding the basics either. We’ll work with you to do a performance gap analysis and design a plan that will provide the tools and knowledge needed to keep your organization growing.
If you’re looking for a customizable solution that brings expertise, efficiency, and scalability, Sandler has one that’s been proven to succeed. Ask us about the Sales Development Series and how we help teams of all sizes maximize their sales performance.
Here's your challenge. Compare the real costs. Do a side-by-side comparison of developing in-house training versus hiring Sandler. Look at your revenue goals, look at the time frame, and consider the risks and rewards. In the words of Ben Franklin, "An investment in knowledge pays the best interest." Make sure you're getting the best ROI by choosing a proven sales training program like Sandler.