As you may recall from one our prior posts, we strongly believe in the value of sales simulations as a cornerstone of providing sales training that not only “sticks”, but also supports a company’s strategic initiative.
Interestingly, we came across a piece written by the Boston Consulting Group (remember the matrix – Stars, Question Marks, Cash Cows, and Dogs?) about the advantages of simulations.
According to the BCG, a growing number of companies are using an array of new approaches and technologies to create and test strategies. In doing so, they can more quickly create a strategic advantage by leveraging the superior “economics of experimentation.” They generate, test, and replicate a greater number of innovative ideas quicker, at lower cost, and risk than their rivals by employing simulation methodology.
In reading this report, we were struck how some of the key benefits of simulations that create corporate strategy are the same as the benefits of sales training simulations. For example:
- Generate and capture ideas a greater speed and lower costs – One of the outcomes of the practice + feedback sessions in sales simulations is the collaboration among members of the sales team that generate new ideas for attacking sales challenges.
- Lower the cost of failure – Especially when selling new solutions or selling to new audiences, sales simulations provide an opportunity to “practice” before “prime time”. They provide a safe environment to try new ideas, make mistakes, and get it right the second time.
- Enhance predictive power – Some companies use sales training simulations as diagnostics – to observe sales performance and determine additional training requirements.
- Accelerate learning and scale up – With sales training simulations, the sales team can experience actual sales challenges they will be facing, ramping up their learning curve rather than putting the total onus on the sales reps to make the transition. If your company is experiencing a time of transformational change, only a few sales reps can, by themselves, adjust and adapt to the “new reality”.
You can find another post: Is it a good idea to use a sales simulation? by clicking here.
Check out other posts on sales effectiveness at the Sales Training Connection.
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