Sales Coaching: Does it Matter? Financial Services

Measuring the Impact of Sales Coaching: at a Financial Services Firm

Client Case Study

Situation

How do we get managers and senior executives more involved in training and development initiatives? With tightened budgets and increased pressure to perform, we are getting asked this question more than ever before.

The Answer:

  1. Relevance: Ensure that the training and development initiative is relevant to the participant, their boss, and the company.
  2. Make the Value Visible: Show the value in terms of behavior change and business impact.

Our recent study of 121 professionals and their managers at a major North American financial services firm, amplifies the impact of manager involvement on the transfer of training.

Results

  • 20% greater skill application.  Coaching is directly linked to skill adoption. (59% adoption with no coaching and   71% adoption with performance coaching)
  • 113% greater average revenue per rep.  Coaching is directly linked to revenue.  Of the 61 participants who received coaching, their average revenue per rep during the same period was 113% greater than the 47 participants who did not receive targeted sales performance coaching. ($9.387m compared to $4.412m per rep)
  • Coaching matters to reps.  Participants in the coached group said their manager “made a significant difference” (72%) compared to “a little difference” (33%) for the non-coached group.

Related Information

Originally, we launched a RFP to partner with a sales training provider to improve the sales skills of our global distributor network. However, throughout the process, LSA Global challenged our thinking by suggesting we focus on the systemic factors that create a high performance environment first, before we focused on the more symptomatic needs of sales training. LSA Global identified the two strategic moves that will enable us to improve performance and set the sales training up for sustainable success.

Kim Benson
Director Human Resources

Trimble

LSA is a great and high quality training and consulting resource. In less than a week turnaround time, they were able to design and deliver a ‘best in class’ inside sales solution to meet my team’s unique needs. They met my high expectations and were very responsive to my specific objectives.

Olivia Flach
Americas Retail Sales

Sandisk

The sales strategy and goal setting session was right on target. It was a very valuable process that I highly recommend to any sales team.

Phil Rosenberg
Senior Vice President of Sales

LSA Global’s negotiation training assessment and workshop provided sales negotiation tools and practices that have significantly enhanced our negotiations process. Their facilitators understood our business, its challenges and framed the learning in a way that we understood. I am very happy with the value we have received from this program, and would highly recommend LSA to others looking to improve their sales negotiations results.

Jeff Bizzack
President

Service Source

LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

LSA custom designed and delivered the best sales training session that I have ever attended. They focused on our industry, our customers, and our competitors. The materials and facilitators were world class. They were passionate about helping our global sales force understand the fundamentals necessary to be successful and not leave money on the table. I recommend them to any sales force looking to drive profitable revenue and beat the competition.

Carl Dickenson
Sales

Cutera

We recently hired LSA Global to help take our sales team to the next level. Specifically we focused on targeting the ideal client, differentiating our solutions, getting more qualified leads, and closing a higher percentage of our pipeline through a proven referral selling methodology.

So far, the results from the business sales training have been great. We were pleasantly surprised with the results-oriented approach and thoughtful follow-through plan to ensure that the new sales practices “stick.” We look forward to a long-term relationship, and I would recommend LSA to anyone looking to increase the effectiveness of their sales force.

Patrick Arnold
President

Filice

In an effort to establish a solid foundation of consultative selling skills for our client-facing teams that can be built on over time, we engaged with LSA Global. By understanding our business and our markets, LSA Global was able to develop and deliver the relevant skills, tools and processes that have established the foundation for our future success. We are very satisfied with our decision.”

Kevin Wiley
Chief Operating Officer

Nelnet

ServiceSource has relied on LSA Global’s expertise for a variety of core initiatives, from strategy design and implementation, to sales skills, to sales coaching. We recently engaged LSA Global to create a competency matrix for our inside sales team that will serve as our roadmap for employee on-boarding, development, succession planning and retention. This project had a tight timeline with high visibility. LSA Global completed the deliverable ahead of schedule and surpassed our expectations.

PMO and Outside Sales Operations
Senior Vice President

Service Source

LSA is an excellent training outsource partner! They listen to our needs, are responsive and work at a pace that keeps up with ours. We have found LSA to bring strategic and innovative solutions to meet our business problems by partnering effectively with our staff. I consider them to be an external extension of our team.

Wendy Chinn
Sr. Director, Global Sales Enablement

Seagate has always found LSA to be a valuable resource. LSA delivers top quality solutions when we need them with just one call. The recent business sales training programs they’ve delivered for Seagate University have been the right solution, highest of quality and customized to our business and culture. I would highly recommend LSA to any company interested in offering top notch learning solutions.

Tammy Dujmovich
Sales, Marketing & Customer Service

Seagate

We originally engaged with LSA Global to help our subcontract administrators and buyers develop better negotiations skills. As manufacturers of satellites, we have many sole source companies to procure the required parts.

Our teams must be able to interact effectively with international companies. This environment uniquely challenges our team in their ability to create equitable contracts, while preserving and strengthening our supplier relationships.

LSA Global not only provided our team with the skills to negotiate effectively and consistently, but we further expanded our relationship to include consulting around our negotiations’ process, measurement of our negotiations, and one-on-one coaching for our team members. We are very pleased with the result of our partnership with LSA Global.

Vivian Mackintosh
Vice President of Materiel

Space Systems Loral

The introduction and continuous reinforcement of the MEDRAD objectives, vision, and mission was very impressive. By the end of the session, a large majority of the audience understood and was openly able to verbalize these items. LSA did a wonderful job introducing the importance of sales coaching and reinforcement and was able to keep the groups focused.

Cindy Steffen
National Manager, Telesales

We selected LSA over a handful of other experts to assist with a key sales imperative. LSA added value every step of the way throughout the entire sales, design, implementation, and follow-up process. Their customized approach to sales presentation training exceeded expectations, and we are excited about global implementation across our offices in more than 100 countries. LSA’s unique approach is an added game changer, and I recommend them to anyone looking to get high quality results.”

Eric Mugele
Executive Director Global Learning

Grant Thornton

We value the relationship we have had with LSA over the years. LSA has delivered top quality solutions when we needed them. They pay special attention to ensuring the content fits our current needs and that the facilitators are familiar with our business and culture. I would recommend them to anyone looking to greatly improve the skills of their sales force.

Carol M. Harbin
Manager, Worldwide Sales L&D

AMD

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