9/9/16
Hiring and training new sales associates can be expensive and time consuming. Unfortunately, some managers adopt a "sink or swim" attitude. They hire new associates, acquaint them with the company's policies, and let them determine their own selling strategies. Those who are 
One-and-done sales and product training, however, is an outdated mindset that leads to high turnover and can prevent talented sales associates from reaching their full potential.
By providing ongoing product and sales training, you can increase the job satisfaction of your sales force and improve your company's bottom line by increasing revenue and lowering the cost of acquiring new salespeople.
Let's take a deeper look at the benefits of ongoing training.
According to a survey by MasterCard*, customers conduct 62 percent more research before buying a product today than they did just two years ago. In addition, 80 percent of buyers use technology such as smartphones while shopping1.
Empowered by information, customers often feel more knowledgeable than the sales associates helping them.
In the tech industry, products are constantly refreshed with new versions and new technologies. Customers now conduct detailed research on a single product or category of product before entering a store.
Sales associates need to be knowledgeable about and up to date on the devices they sell. An employee typically retains less than 20 percent of the information given during training after 30 days.
Ongoing training keeps retail sales associates continually knowledgeable about devices and informed during crucial new product launches.
Lack of training and career development are two reasons employees frequently part ways with employers, and losing a member of a sales team is costly.
The cost of finding and training a replacement for a lost sales associate can exceed $17,0002 — and that's in addition to the revenue that would have been generated if he or she had remained with the company.
By treating product and sales training as a process that never truly ends, you send the message that you consider your associates valuable assets and want to retain them for as long as possible.
Ongoing training is far more economical over the long term than replacing lost sales staff.
Training doesn't simply improve a company's bottom line by combating turnover; it also improves revenue by helping your associates close more sales. In a truly dynamic training process that continuously monitors the performance and disseminates information as market conditions and products change, sales teams are more likely to meet their goals.
For nearly any company, the increase in revenue that occurs when more employees reach their goals far exceed the cost of providing ongoing training.
Retail sales can be an extremely rewarding field because talented sales associates feel they have control over their career path. To maintain an environment in which your employees feel a sense of control, they need to have a thorough understanding of a product lineup that constantly changes.
Ongoing training gives your team the knowledge they need to close more sales, to improve their job satisfaction, and to increase the level of engagement with customers.
The Intel® Retail Edge Program supports your training efforts by providing an engaging interactive community where sales associates learn about the latest Intel® products and technologies, as well as tips and tools to create great customer experiences.
References:
*Other names and brands may be claimed as the property of others.
© 2016, Intel Corporation. All rights reserved. Intel, the Intel logo, and the Intel Retail Edge Program are trademarks of Intel Corporation in the U.S. and/or other countries.
1Mastercard* Global Consumer Survey from The Retail CMO’s Guide to the Omnishopper
2http://smallbusiness.chron.com/turnover-rates-effects-organization-10084.html
