Companies with a formal coaching process see 91.2% of overall quota attainment, as compared to 84.7% quota attainment for companies with an informal coaching process. 1
Coaching and training are the best ways to increase the potential of your teams. Other things to consider are tools, technology, and mentoring.
In fact, in their 2017 Sales Enablement Optimization Study, CSO reports that organizations with a dynamic sales coaching approach enjoy higher-level customer relationships, which, in turn, improves sales performance, such as win rates by double digits. 2
Refer to the image below to see the impact.
What are the other benefits of training and coaching besides the above direct impact?
- Training helps you teach new skills to entire teams in your organization, including sales representatives and managers.
- Consistent coaching affects a behavior change that drives productivity.
- Personalized coaching actually impacts individual performances and success rates.
But then, there are challenges.
- More and more employees are preferring to work from home or in a hybrid environment. With this new normal, getting your teams together can be a big hurdle. Time and geography can be huge constraints.
- The biggest challenge is getting someone who will be willing to coach, putting in their personal time and effort. After all, what will be their motivation?
- Then, there are considerable costs involved in creating content and delivering the programs. Training doesn’t come cheap. You need content, trainers, and physical space to organize training.
- While planned programs are comparatively easy to conduct, ad hoc coaching is not scalable and has a heavy risk of bias.
So how do we overcome these challenges?
The solution lies in eLearning – which helps in delivering learning content virtually. You need a Learning Management System (LMS) to deliver and manage your learning content.
An LMS is an application that helps you to publish and manage your content, manage user enrollments, and track learning activities and user progress.
Announcing Vtiger’s latest feature, the Vtiger LMS!
The LMS feature in Vtiger CRM solves the challenges mentioned earlier in one go. It is easy to use and helps you build structured training programs.
With our LMS, you can do the following from the CRM:
- House your content in different categories: Courses, Concepts (lessons), Quizzes, and Exercises.
- Create customized learning programs: Simply add required content (concepts, videos, duration) and quizzes to come up with a new course.
- Manage and track user progress: Ensure your teams complete their training on time and be ready to deliver. Recognize their achievements with certifications.
- Overcome geographical challenges: Your teams can avail themselves of courses at their convenience – anytime, anywhere.
- Publish content in different formats: Presentations, videos, and documents – make learning impactful, self-paced, and fun.
The One View Advantage of Vtiger
Vtiger’s One View breaks silos between teams and aims to make the latest information available to all the teams across the organization. The concept of One View extends to our LMS.
The LMS becomes a single source of knowledge as it allows you to publish content on a single platform – everybody sees the same concepts, updates, and more. Your employees, customers, and partners will simultaneously receive and use the latest information about the product/service.
As a bonus, your teams don’t have to log in to different applications. They can ‘live and learn in the CRM’.
With Vtiger LMS, you don’t just create learning programs. You create learning experiences.
Harvard Business Review notes, “The real payoff from good coaching lies among the middle 60% — your core performers. For this group, the best-quality coaching can improve performance up to 19%.” 3
Don’t miss out on this opportunity to create customized coaching and training programs with Vtiger LMS. Upskill and reskill your teams effectively.
Vtiger LMS will be released shortly! Be ready!
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References:
1. The Center For Sales Strategy Blog
2. Sales Enablement Optimization Study
3. Harvard Business Review
