1) There is a $1 TRILLION global spend on sales training. (Bureau of labor Statistics)
With that said, video is the ultimate game-changer and a global trend.
2) 1 in 8 jobs in the US are full-time sales positions. (Bureau of Labor Statistics)
This leaves millions of employees in need of comprehensive and engaging training that the old “sales school” cannot provide.
3) US companies spend $20 billion yearly on sales training. (ASTD)
Organizations are clearly focused on training—they’re just failing to see that video does a better job than the traditional model at producing great communicators and problem solvers.
4) 94% of companies invest in sales training. (IKO Systems)
Sadly, many organizations invest too much time on old teaching methods that don’t deliver the same results as video on-demand.
5) Organizations spend $5K per year on training each sales rep. (IKO Systems)
If they replaced in-person training with video, the yearly savings would be tremendous.
6) Employees would rather watch video. (Forrester Research)
75% of respondents were more likely to check out video lessons than reading the usual documents, emails, and web articles.
7) We must SEE it to LEARN it (The Brevet Group)
Here’s what goes into our long-term memory:
- 80% comes from seeing and doing
- 20% comes from reading
- 10% comes from hearing
8) Video cures our information overload. (The Brevet Group)
We receive 5X more information than we did in 1986. That’s 174 newspapers worth of data EVERY DAY! (University of Southern California) Video delivers the most relevant content by slicing it up into 3-5 minute clips. This does wonders for long-term retention.
9) On-demand learning yields 50% higher net sales per employee (ASTD)
Video provides the technology for continuous training. Sales reps are able to pull up lessons on their iPads or laptops at their convenience—so they get answers right when they need them.
10) Video cuts nearly half the cost of training. (IBM)
Before video, 40% of training expenditures came from travel and lodging costs alone.
11) IBM saved $579 million over 2 years with video. (IBM Case Study)
Enormous savings where quickly realized when they made the switch from in-person learning to e-learning.
12) Microsoft saved $303 per employee on training. (Microsoft Case Study)
When they finally transitioned to video, the computer giant went from $320/trainee to a mere $17/trainee.
13) Video cures the dreaded “Walking Brochure” rep. (Brevet Group)
According to buyer surveys, one of the most common gripes is that salespeople show off their product knowledge too much. Video teaches reps how to better respond to customer NEEDS.
14) 13% of customers feel understood by salespeople. (Josaine Feigon)
This is a low number. Video engages employees into becoming problem solvers instead of product info absorbers.
15) 55% of sales reps don’t have effective communications skills. (Caliper Group)
The reason is that they just aren’t getting enough practice on sales techniques. Video provides the continuous reinforcement the is necessary for long-term retention.
So many companies recognize the importance of sales training. Unfortunately, it’s a lack of resources and a tight budget that usually gets in the way.
If you want to learn how to use video as a sustainable learning tool that delivers on ROI, feel free to contact us at KZO Innovations.
Want to hear what Dimitar Popov has to say about video changing sales training? Check out his webinar!