The one tool that will keep your CFO happy

Have you ever pitched to your CFO for funding a Sales Training Programme?

If you haven’t, just make sure your proposal answers at least this question: what’s the Return On Investment (ROI) for this Sales Training Programme?

In other words, you need to be able to justify that investing in the Sales Training Programme is going to deliver results (that is an increase in sales!) that will make the investment worthwhile. That’s easier said than done, but as long as you have this one tool, you’re safe.

What you need is a Learning Management System (LMS) that will not only host/store your programme, but also provide you with the visibility you need to determine the effectiveness of the Sales Training Programme you’re pitching. The trick is, you need to get the one that’s fit for purpose.

There is an overwhelming choice when it comes to choosing an LMS. It’s easy to get excited by all the ‘bells and whistles’ in a system and lose sight of what you really want the system to be able to do.

Learning Management Systems are quickly evolving, yet many are over-featured and are missing a focus on the crux of all learning - a change in skills and associated behaviour. It’s been an elusive goal.

So what are the functions to look for in an LMS that will give you return on your investment (ROI) and keep your CFO happy?

All learning should change behaviour

It’s not enough to record completion. You need to know that the information has been absorbed and is being transferred into the trainee’s environment. How can you validate the change in behaviour within the system?

Harness the power of your people as coaches

People that have coaching skills and know the material that their trainees are going through, can increase the transition of learning by as much as 41%! Having a system that facilitates one-on-one coaching and records the conversations and behaviour verification is a must-have if you want to get a real shift in behaviour and outcomes.

Simplicity

Is the system easy to use and intuitive? Complexity will cost you time and resource. Simplicity makes the system efficient and allows you to be efficient with your time.

Transparency

You want to see what’s happening with your trainees. Where do you need to focus? Where do they need support? Get the insights to show engagement, progress, feedback and coaching time. These are all key indicators of behavioural change. Then, use this data to compare it against your business’ KPIs

Customer support and expertise

Need some advice? You want to know that you can get someone to help you set it up and when you get stuck. Also, you want some proof that it really delivers what it says, so a great way is to talk to some existing clients using that LMS.

The bottom line is that you want to show that your Sales Training Programme is delivering the goods. Having solid reporting in place which gives you full visibility on completion rates, engagement and the quality of the coaching is crucial. This is what shows a real shift in behaviour.

Once you’ve gathered this data, you’ll be able to compare it against your Key Performance Indicators in your business and see the direct impact of your Sales Training Programme.

Remember...

It’s not just about having an LMS. It’s about having the RIGHT LMS that will provide you with the visibility you need to be able to determine if your Sales Training Programme is effective and has contributed to increased sales. And that will make your CFO very happy any day of the week!