Part 1 of this blog began with a statistic showing that U.S. firms spend just south of one trillion dollars on their sales forces. A portion of this spend is on sales training, which can be off-the-shelf content/training, custom training, or some combo thereof. We developed this two-part blog with the premise that your sales training is unlikely to hit its target if you don’t first define your desired outcomes (Step 1), your adoption strategy (Step 2), and your optimal modality mix (Step 3), all of which were addressed in 5 Steps to Find Your Actual Cost of Sales Training - Part 1. In Part 2, we explore the specific sales training investments (Steps 4 & 5), as well as a hypothetical example between off-the-shelf vs. custom approaches.
Annually, U.S. firms spend approximately $900 billion on their sales forces, which is greater than three times their total media ad spend and 20 times their spend on all digital marketing[i]. Based on various sources, there are between 4 and 5 million business-to-business (B2B) sales professionals in the U.S. and approximately $20B is spent on sales training alone, not including sales enablement technologies, tools, and aids.
As a firm that often develops customized sales training, we are frequently asked about the costs over and above our fees. As you can imagine, it’s not a simple answer, but this two-part article highlights the 5 steps you should take to define your cost of sales training and determine whether custom or off-the-shelf training is a better option for you.