Increasing sales is the primary goal of many companies. According to 2017 Sales Statistics, Trends, and Data, 74 percent of marketers say converting leads is their top priority.1 The source also said 53 percent of marketers claim half or more of their budget is allocated to lead generation. Clearly, a large number of organizations are committed to increasing sales.
Some companies are succeeding in their quest to increase sales, but some aren’t.2 Even in the case of those that are, there is always room for improvement. The key to maximizing sales teams’ efforts is utilizing the right sales tools, not necessarily selling more products.
Why Companies Lose Money Despite Selling More Products
Increased sales don’t always equal increased revenue. A company may sell more products than ever only to experience a rising bottom line. When this happens, it is sometimes because sales-related expenses are too high. In our blog article Why an LMS is a Great Sales and Marketing Tool, we wrote,
“Why is it that companies are not making an excellent profit as a result of selling more products? The answer is simple: retail costs and marketing expenses are astronomical and eat into profits. Also, costs related to transportation and manufacturing further burn up revenue.”
The solution to this dilemma is to move certain sales-related tasks (marketing, for example) in-house. A Learning management System (LMS) helps company leaders do this seamlessly.
An LMS Maximizes Sales Teams’ Efforts
A learning management system is primarily a tool that facilitates training. In addition to this, it can powerfully drive sales results by maximizing a sales team’s efforts.
One way an LMS encourages increased sales/decreased sales-related costs is by marketing and selling products via an eCommerce engine. eCommerce features allow companies to
- Connect with customers
- Share information
- Create excitement around products
- Reach target markets
- Sell training
eCommerce features increase revenue because they cut out the middleman (the retailer), allowing companies to sell products directly.
A Learning Management System Increases Sales by Facilitating Training
In addition to helping company leaders accomplish sales-related tasks internally, an LMS also drives sales results by addressing what OnePageCRM referred to as one of “the three most pressing challenges amongst sales leaders.”² This challenge is training.
To supercharge a sales team’s efforts, ongoing sales training must be provided. When training is outsourced, it becomes another expense that cuts into revenue. However, when training is provided internally through an LMS, sales-related costs are kept low.
Learning management software can house all of an organization’s sales training resources. These resources can be accessed 24/7 by sales team members through any device with a web browser. Since this on-demand sales training can be accessed at an individual’s convenience, there is a greater likelihood that employees will engage in it. eLearning Industry said it best: “A learning management system that provides timely and powerful sales training online is a strategic advantage no forward-looking organization can afford to ignore.”3
Are you ready to market and sell products with a tool that facilitates on-demand sales training? If so, request a free demo of TOPYX LMS.
References
- OnePageCRM. 2017 sales statistics, trends, and data. https://www.onepagecrm.com/sales-statistics
- Fortune. Nike, Under Armour, and more companies that missed their revenue goals. http://fortune.com/2017/07/27/nike-under-armour-revenue-goals/. July 27, 2017.
- eLearning Industry. 10 steps to take your sales training online. https://elearningindustry.com/take-your-sales-training-online-10-steps. October 29, 2017.
