SPI-1 is a better way because it’s “one size fits one.” It’s not saying that everybody must do something the exact same way. We do have program-level kinds of learning, and that may be recommended. But ultimately, what the SPI platform can do is say, “Here’s what you need to do to be more effective,” […]
Link Competencies to Business Results SPI is really a very simple concept. It’s based on the idea of linking competencies to business. When we say “competencies,” we mean knowledge, skills, and abilities. This is something unique that’s never really been done before in the world of sales performance or sales effectiveness. In other words, if […]
Sales success in today’s life sciences market comes to those individuals who are nimble and able to adapt their selling approach to a changing market. The healthcare market is a fluid environment, stretched to capacity by emerging competitive threats, expanding industry dynamics, and constricting regulatory changes.
From our observations over nearly two decades, the top performing companies understand one thing really well – “programmatic” thinking. They just get it. In other words, they understand the difference between a collection of Ferrari parts and an assembled Chevrolet. Their sales and training organizations understand the difference between checklist compliant training events (and technologies) and on-going professional development that relates to business outcomes. The top companies have both the requisite parts and a coherent integration of the parts into a model for on-going improvement. They’ve organized the right intellectual property around a planned sequence of on-going learning and reinforcement – a continual learning program.
Research indicates that without systematic, ongoing learning and reinforcement, approximately 50% of the learning content is not retained within five weeks, much less applied. Within 90 days, 84% of what was initially learned is lost.But a continual learning approach, if well designed, can overcome many of the shortcomings of conventional training methods. So what can your organization do to combat the ROI gap and maximize the return on training?
It’s time for sales training to grow up and face the metrics. A remarkable amount is spent annually on sales training initiatives – some industry experts estimate that as much as $7 billion per year are spent annually in the US market alone on sales training. A fair question then; to what extent is this investment paying measurable dividends for corporations? The first decade of the new millennium has essentially been a treadmill from a sales performance perspective. Industry research provides limited evidence that these training investments are attaining sustainable results for most companies. In fact, most aggregate metrics for sales effectiveness have failed to reach pre-2000 levels at any point in the last decade.