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

LSA Global demonstrated expertise in the sales leadership subject matter, spent the time to make sure the objectives were clear, and showed flexibility in shaping the session and sustaining it. Their facilitator “MEDRADized” the session, looked beyond the obvious, was enthusiastic, was able to keep people’s attention, made it enjoyable, and got the key points across.

Doug Stantial
North America Sales Training Manager

We selected LSA over a handful of other experts to assist with a key sales leadership imperative. LSA added value every step of the way throughout the entire engagement. 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 Strategy-to-Results approach is an added game changer.  I recommend them to anyone looking to get high quality results when it matters most.

Eric Mugele
Executive Director Global Learning

Grant Thornton

We engaged with LSA Global to help our team identify opportunities to accelerate our commitment to sales excellence as “The Service Revenue Performance Company” in our market place. The facilitator’s shared passion for our goals created a foundation for sales skill adoption, as did LSA’s keen understanding of our unique business environment. This insight allowed LSA to deliver customized business sales training workshops which were adapted to reflect our specific business dynamics and provided our employees with the models and tools to leverage on every call with customers.

Grant Clarke
Director Client Delivery

Service Source

We partnered with LSA to help custom design, deliver, and measure an advanced new employee on-boarding and measurement process. The process was well thought out and bought into by sales leadership. The combination of targeted sales tools, technology, coaching, performance plans, training and reinforcement made all the difference.  The pilot program in EMEA was a big success and the solution quantifiably improved new employee and hiring manager satisfaction and increased the speed to sales quota for new hires. We are continuing to work with LSA Global to scale the program in other GEOs and expand to cover more roles at VMware.  I would recommend LSA Global for any sales enablement team looking to increase the engagement and speed to productivity of their sales force. We are excited to implement the program globally across VMware as we continue to scale.

Rochana Golani
Director, Global Field Readiness

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

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

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

We needed a way to improve training with our customers. We had to reach a disparate group of people in a very short period time. LSA gave us a new training methodology and a way to go to market with our training that improved our customer touch. LSA delivered what we needed in the time we required.

Hinda Chalew
Vice President of Marketing

Originally, we launched a RFP to partner with a sales training provider to improve the sales skills of our global distributor network. LSA Global challenged our thinking by suggesting we focus on the systemic strategy, culture and talent factors that create sales success before we invested in the more symptomatic needs of sales skills and knowledge. LSA Global identified the two strategic actions to improve overall sales performance and then designed and delivered world class sales training across the globe to help increase revenue and margin.  I’m so happy we took a more strategic approach to sales performance.

Kim Benson
Director Human Resources

Trimble

The sales negotiations training program was awesome. The facilitator was excellent. We are immediately able to see the relevance and apply it to specific needs at Blackhawk. The preparation and energy was very apparent. The facilitator did a great job keeping the class engaged for the entire day and focused on what mattered most to our success. I am very pleased with the results and like the very relevant and applicable sales negotiations tools. Great job.

Jack Lord
Vice President of Sales

Blackhawk Network

We recently hired LSA to help us take our client delivery methodology to the next level as we continue to grow and help our clients succeed. The custom strategy and design session exceeded our expectations. They really understood our business and delivered within tight time frames.  They were the best I have seen for this type of complex, visible and strategic work. LSA’s ability to get a group of 20+ executives from around the globe on the same page, push their thinking to new heights, and ensure an executable plan was excellent. I would recommend LSA to anyone looking to take their strategy and strategic execution to the next level.

Rob Sturgeon
EVP Client Delivery

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

ServiceSource has relied on LSA Global’s expertise for a variety of core initiatives, from strategy design and implementation, to business 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

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

One of the most dynamic sales training programs I have had the pleasure of being involved in. Nothing I have experienced comes close to them. The sales principles are unique to contact centers and can be applied effectively in sales and customer service-oriented operations.

Software Company
Director of Sales Development

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More