CARLSBAD, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Companies that incorporated Artificial Intelligence (AI) into their sales training activities more than tripled (3.3x) year-over-year growth in overall sales team quota attainment compared with companies that are using AI without sales training. This is according to new research findings released by ValueSelling Associates, Inc. in conjunction with Aberdeen Strategy & Research.
To determine if there’s a difference in sales results between companies that use AI with sales training and coaching versus those that use AI alone, the global study surveyed 610 sales and enablement leaders from various industries and company sizes. The research uncovered a substantial difference in sales results between companies that leverage AI alongside sales coaching versus those that rely solely on AI. The findings shed light on how to close the gap between employee productivity gains and revenue results.
The study identifies three common sales coaching challenges and shows that integrating AI into coaching helps overcome these obstacles, leading to a significant boost in sales performance. The challenges include:
1. It takes a long time to get coaching right. Managers often sideline coaching when pressed for time, or rarely receive the proper training to effectively coach their teams—and the skill sets required for sales management and coaching are worlds apart.
2. Managers can have human (confirmation) biases. Traditional role-playing with managers or peers can be affected by unconscious bias, which can negatively impact coaching decisions and interactions. Each of us harbors some form of unconscious bias, even if it’s favoring—or being tougher on—your top performers.
3. Reps don’t always have the ability to practice and utilize skills. Lack of time often leads sales reps to practice on real prospects, instead of using role-plays to prepare. This is sub-optimal for both the sales rep and the prospect.
Key study findings include:
- Top goals of sales and enablement leaders:
- Reduce cost and improve operational efficiency (44%). This research finding is counterintuitive as operational efficiency is not typically part of a sales leader’s role. As nearly a full day of a seller’s time each week is spent looking for account and buyer insights, leaders recognize that their teams are not as efficient as they could be.
- Improve customer satisfaction (34%)
- Increase number of net-new customers (31%)
- Increase top-line revenue (30%)
- Top strategies for sales leaders to reach their goals
- Invest in technology tools (e.g., AI, automation, analytics) (44%). The number one technology B2B sales leaders report planning to implement in 2024 and beyond is AI.
- Deliver real-time customer insights to support employees (36%)
- Use multi-channel data to personalize customer conversations (33%)
- Companies that use AI and sales training improve sales performance and revenue uplift year-over-year [vs. companies that use AI without sales training]. In addition to businesses achieving 3.3x year-over-year growth in sales quota attainment, they have:
- Shortened the sales cycle time by 56%
- Improved average profit margin per customer by 118%
- Infusing AI in sales coaching activities drives greater efficiency and employee engagement. Companies have:
- Increased sales productivity by 95%
- Improved employee engagement by 30%
- AI and sales training supports employees long-term to reduce rep attrition by providing:
- Reps with individual development programs and career paths based on their skills and the overall needs of the business by 25%
- Onboarding, coaching and retraining programs provide employees with an overview of their broader impact on company goals by 32%
- Regularly survey employees and monitor performance to boost employee engagement and results by 38%
- Adjust employee assessment and coaching programs based on changes in employee skills and performance by 20%
“For companies early in their AI and sales coaching journey, the best approach is to explore use cases that align with your business goals—those that boost sales effectiveness and win new opportunities,” said Julie Thomas, ValueSelling Associates CEO. “It all comes down to a business conversation, and AI can help to build and reinforce the desired selling behaviors in a very human-centric way.”
For a summary of the research download the SmartBite infographic.
About Aberdeen Strategy & Research
Aberdeen Strategy & Research, a division of Spiceworks Ziff Davis (SWZD), illuminates B2B market realities through unbiased, credible research to inspire critical thinking and ignite data driven business actions — among end-users and vendors alike.
About ValueSelling Associates, Inc.
ValueSelling Associates is the creator of the ValueSelling Framework®: the sales methodology, training and toolset that aligns your revenue engine with a common language and enables sales professionals to compete on value, not price. Since 1991, ValueSelling has helped hundreds of thousands of sales professionals realize immediate revenue growth and achieve results they never thought possible.
ValueSelling offers bespoke training to FORTUNE 1000, mid-sized, and start-up companies that includes eLearning courses, instructor-led workshops (virtual and in-person), microlearning and on-demand reinforcement in over 17 languages. ValueSelling programs provide globally scalable and sustainable tools, skills, and processes for sales teams, executives, and all customer-facing professionals to effectively engage, qualify, advance, and close more sales with higher margins.
Connect with ValueSelling Associates:
Media Contact:
Maria Doyle
Doyle Strategic Communications
781-964-3536
maria@doylestratcomm.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f875df22-344c-4b05-9be7-7dbe830670b7
