Onboarding sales reps is critical to any sales team’s success, and it sets the tone for new sellers and is crucial in acquainting them with your firm, its culture, and their responsibilities. Sales staff are also given the training and resources they need to get started right away.
A growing number of businesses are putting money towards sales onboarding. And it’s not without reason. Effective onboarding increases rep productivity, which leads to a faster increase in profits. Furthermore, a stable onboarding programme enhances the likelihood that new sales will remain with the company long-term, saving you time and money in the long run.
Here are the compiled 15 current stats from industry-leading firms to show why now is the best time to create and optimize an excellent sales onboarding programme that will set your sellers (and your entire organization) up for long-term success.
- According to G2, sales agents who go through the top sales onboarding programmes are productive 3.4 months sooner than those who go through the worst programmes.
- Effective sales onboarding solutions that meet or exceed expectations, according to CSO Insights, can increase quota attainment by 16.2 %.
- 84 percent of sales training is forgotten within the first three months, according to Xerox via Hubspot.
- According to the SiriusDecisions study (via Hirebox), nearly half (49 per cent) of high-performing sales reps regard onboarding as an essential aspect when selecting a new position.
- Only 37% of firms, according to Aberdeen Research, extend their onboarding programmes beyond the first month.
- According to Sales Enablement PRO’s State of Sales Enablement 2020 study, firms that use a sales onboarding technology and use it effectively have seven percentage points greater win rates than those that don’t.
- According to the research, onboarding new workers is listed as one of the top three sales challenges by 21% of firms.
- According to the Sales Management Association, the average sales new hire spends 10 weeks in training (SMA).
- According to the SMA, the average sales new hire is only productive after 11.2 months.
- According to the SMA, 62 % of companies believe their sales onboarding programmes are useless according to Sales & Marketing Management.
- According to the Bridge Group’s Periodic Table of B2B Sales Metrics, the average tenure of a B2B Account Executive (AE) is 2.6 years. And it takes these AEs an average of 4.9 months to ramp up.
- According to Spotio, the quality of training and learning options given to employees has a favourable impact on their engagement.
- According to UrbanBound, companies that use a regular onboarding procedure retain new hires 50% better than those that don’t.
- According to UrbanBound, 49% of organisations now invest in modernising their onboarding processes.
- According to DePaul University research, replacing a sales representative costs about $115,000.
Onboarding and training
As a result of the current situation, there has been a boom in new competencies that are now considered vital for sales success, such as empathy and digital selling tools. These are new abilities that sellers must learn quickly in many firms. Sales enablement is ideally positioned to boost seller proficiency through onboarding and training suited to the virtual environment. In fact, people that emphasize competency improvement have a 3 percentage point greater victory rate than those who do not. Enablement’s ability to conduct excellent onboarding and training remotely is also aided by technology. Those who use tools effectively for onboarding experience win rates 7 percentage points higher than those who do not use a tool. Furthermore, individuals who use tools effectively for sales training initiatives have win rates that are 5 percentage points more significant than those who do not.
BUSINESS IMPACT—NOW AND LONG-TERM
In the present scenario, sales enablement can be crucial in enlightening sales reps to use technologies and resources effectively in an environment that necessitates virtual involvement.
By employing solutions, sales enablement may bring significant benefits across onboarding, training, content, coaching, and engagement. In fact, sales enablement units that focus on sales technology management have a 6 percentage point greater win rate than those that don’t.
Many business owners consider sales onboarding nothing more than an introduction meeting, but it is so much more. Effective sales onboarding is the process of bringing new employees up to speed on company operations by providing them with the essential information, values, and tools.
Learning about your company’s history and culture, transforming a new hire into an expert in your product or service, and teaching them how to use their skills and equipment are all important components of this process. Increasing productivity and customer satisfaction by ensuring that all employees have a clear grasp of your business and their job. You’ll ultimately increase your company’s earnings by enhancing these.
Instead of being a fragmented set of stages, effective sales onboarding should be a unified, purposeful process. As a result, a complete sales-focused onboarding strategy can assist you in creating a favourable environment for your new sales staff.
It’s impossible to overestimate the value of an engaging sales onboarding programme. In the long run, the money and time it takes to train a new employee can have a substantial impact on not only your company’s bottom line but also its client retention rate.
A good onboarding experience will assist salespeople get up to speed faster, which is wonderful news if there are any issues with switching industries or roles. More significantly, your sales representatives will maintain a high degree of interest and confidence throughout their careers.
We can assist you in setting up and streamlining your sales onboarding processes at Mindtickle. Our platform provides a factual foundation for better personnel management in your organisation. We combine onboarding and training functions to increase time-to-productivity across the board! Furthermore, we provide user-friendly dashboards and statistics that assist you in identifying sales agents who require further productivity boosts in specific parts of their sales process. To arrange a live demonstration, don’t hesitate to get in touch with us right away.