Corporate profits are now at an all-time high, so it’s not as common to see companies trimming sales training budgets as it was between 2009-2011.
But it is still happening as the economic recovery meanders along in it’s fifth year, and companies face real peril when sales training goes on the chopping block. Before that sales training budget gets trimmed, take into consideration the top three reasons why it may not be the wisest move:
1. Customers notice and will go elsewhere.
Customers sense when a salesperson is not armed with the right knowledge and skills. Think about the last time you walked into a Best Buy and went looking for a specific flat-screen TV. If your experience was anything like mine, the sales associate began reaching for answers to questions about the features of model X over model Y, and then started making up answers entirely.
As a customer, we notice these lapses in knowledge (and training!) and often take our business elsewhere. […]