We’ve got a question for all the wireless retail store owners and managers out there today. Have you spent much time observing your sales associates on the floor lately? If not, try grabbing your favorite accessory from the floor, pulling one of your associates to the side and ask them to sell you that product as if you were a customer who had just walked in the door. Listen intently to the information they share, the questions they ask and how much product knowledge they have. Were the results of this conversation not exactly what you were expecting or how you would have done it? If that’s the case, it is definitely time to get your team some sales and product training.
We have a good idea about what your objections to that statement might be: there’s no budget, no time, no interest from your employees, or all of the above. While these are all legitimate concerns, the infographic we created recently is full of data showing that you can’t afford to not have a training program in place. Here is our list of the top four reasons why training needs to be part of your business strategy:
1. More Training = More Revenue
Businesses that invest in training have 24% higher margins than those that have little to no training at all. A great training program can give you an almost instant leg-up on your competition, and who wants to miss the boat on that? Not only does training deliver higher margins, but it also has an average ROI of between 8 and 15 percent. If you’re on the fence about investing in a training program, hopefully that statistic encourages you to get a program in place. The financial benefits outweigh the costs by a landslide.
2. It Increases Productivity
A knowledgeable employee is a motivated one. Your employees are definitely going to be more likely to get excited about a product when they know the features and the best way to sell it to their customers. Our research has shown that your business will see a 5.2% average increase in productivity at an employee level if they are effectively trained. Training your employees will give them the tools they need to succeed in their positions, and that investment will pay off in a big way.
3. Without it, Your Business Suffers
Here’s a number that will probably surprise you: 41% of employees who experience a lack of training plan to leave their position within a year. Combine that with the cost of employee turnover, which lands somewhere between 90 and 200 percent of the employee’s annual salary, and you have a very expensive potential problem on your hands. The answer to eliminating a majority of these expenses simply lies within training. Additionally, studies have shown that proficient employees spend 8 hours of their week helping coworkers. That means that your best employees are probably spending an average of one entire work day, per week getting their coworkers up to speed. While you always want to foster teamwork, don’t you want your employees on the floor closing sales? Especially your best ones?
4. Accessories Academy Will Deliver
Nothing matters more to us than the success of our clients, and the results shown in our infographic prove that we deliver on our promises. Our trainers are knowledgeable and bring years of experience to the table when developing our programs. Whether your training solution is online, on site, or both, we have a solution that is customizable to your needs. Maybe you have a training program currently in place that is less than effective, or maybe you don’t have one at all. Whatever the case may be, we partner with you from day one to make sure that our programs exceed your expectations and move the needle. Contact us to find out what’s best for your business.
Click here to view the full infographic and sources.