Sales Talk: The Power of Effective Sales Onboarding
In this webinar we are going to show how you can faster onboard your sales reps and increase your revenue. Find also a short summary of the webinar below.
Introduction:
In today's fast-paced business landscape, sales teams play a crucial role in driving revenue and growth. However, to ensure their success, organizations must prioritize an often overlooked aspect: sales onboarding.
Effective onboarding programs can significantly impact a sales rep's performance, quota attainment, and overall retention. Let's explore why sales onboarding is vital and how it can transform your organization's success.
The Importance of Sales Onboarding:
Did you know that sales reps typically stay in their roles for around 2.4 to 2.6 years, with nearly 20% of that time dedicated to onboarding? That's a significant investment. But here's the catch: it takes an average of 11 months for a sales rep to start generating revenue. Imagine the impact of a well-structured onboarding program that shortens that timeframe. Effective onboarding leads to improved quota attainment, increased retention rates, and ultimately, a positive impact on your bottom line.
The High Cost of a Bad Hire: Making the wrong hiring decisions can be an expensive mistake. Replacing a sales rep after a bad hire can cost an average of $115,000. This staggering figure highlights the importance of hiring the right candidates and providing them with proper onboarding. By investing in their success from day one, you can save valuable resources and prevent unnecessary turnover.
Retention and Continuous Learning: Studies show that a significant portion of what sales reps learn during onboarding is lost within 90 days. Repetition and ongoing training are essential to reinforce knowledge and ensure long-term retention. Unfortunately, 62% of organizations have ineffective onboarding programs. To address this, we offer an onboarding platform and consultation sessions to assist organizations in creating impactful and sustainable onboarding programs.
Challenges in Sales Onboarding:
Building an effective onboarding program can be challenging. Time and resource constraints often hinder the creation of a structured onboarding process.
The lack of product and industry knowledge for new hires can also pose a hurdle. Additionally, the absence of a system for continuous learning and skill development, reinforcement, and performance measurement can hinder the onboarding experience.
Overcoming these challenges is crucial to maximizing the potential of your sales team.
Example Sales Onboarding Program:
To demonstrate the power of a well-structured onboarding program, let's explore an example using the Kickscale platform. Our customizable playbook format provides a comprehensive framework for onboarding SDRs and BDRs.
It includes pre-recorded videos, training materials, and external resources to ensure new hires have the necessary skills and knowledge to excel. With our platform, you can save time and equip your sales team with the tools they need to succeed.
Pro Tip: Start Early and Structure Your Onboarding:
A pro tip for effective onboarding is to start the process even before the official start date. By providing access to company and industry information, as well as resources like LinkedIn influencers, new hires can familiarize themselves with the necessary knowledge and begin updating their LinkedIn profiles.
Structuring the onboarding process into different weeks, including pre-start, official start, and ongoing training, can expedite the learning curve and empower your sales team from the get-go.
Conclusion:
Sales onboarding is the foundation for building a successful sales team. By investing in effective onboarding programs, organizations can improve performance, increase retention rates, and reduce the costs associated with bad hires... AND increase their revenue.
About Kickscale & Gerald Zankl:
At Kickscale, we understand the significance of sales onboarding. Our affordable sales onboarding and training solutions are designed to empower small and medium businesses.
Founded by Gerald Zankl, a seasoned professional with a background in software engineering and over 10 years of experience in B2B marketing and sales, our mission is to help sales professionals achieve their quotas through our sales enablement platform.