Latest Event Updates

SPASigma Featured in The Distributor Channel article “The Dog Ate My Customer List (and other Excuses from the Sales Department)”

Posted on Updated on

SPASigma was featured in a recent The Distributor Channel article, “The Dog Ate My Customer List (and other Excuses from the Sales Department)”, which discusses how many organizations’ sales people – “Simply stated, distributors are giving away money by the bushel”.

Excerpts of the article follow.

I Know the Market and This Won’t Work- Pricing Process

During in-depth interviews with dozens of distributors who have instituted successful pricing processes, the story always comes back the same. They experience very little, if any push-back from customers, but they get plenty of push-back from their team.

The excuses are so predicable, I can almost mouth the words. “This pricing stuff works in big cities/small towns/west coast/east coast/ anywhere but here. Our customers will react negatively. They will immediately recognize we are gouging them. And the competition will have a field day.” When all else fails, the sales guy will look their boss in the eye and say, “I’m paid on gross margin, I’m doing everything in my power to maximize that gross margin. Don’t you trust me?”

Simply stated, distributors are giving away money by the bushel

David Bauders’ team at Strategic Pricing Associates has developed some powerful tools to analyze price data. In an interview with him sometime ago, David produced dozens of analytical graphs showing market price, order size and product discounts. Amazingly, they all looked the same. Customers making very small purchases are getting price levels well below the natural market. Simply stated, distributors are giving away money by the bushel.

a simple test to determine if a distributor’s team actually understands market pricing

David recommends a simple test to determine if a distributor’s team actually understands market pricing. He takes the top 20 SKUs from a company and asks the sales team to provide a best estimate of the market price. Fewer than 25 percent of the sales team gets anywhere near a passing grade. The guys who claim to be maximizing your margin can’t.

There are some root causes to this whole issue with pricing. First, most distributor salespeople really do believe they understand the market. The question becomes, where do they get their information?

 “in our world, customers have been trained to mislead us on pricing.”

Let’s face it, in our world, customers have been trained to mislead us on pricing. When was the last time somebody said, “Wait a minute, Jim, your price is too low?”  Purchasing departments see their role as trimming just a few percentage points off of the buy price. Their goal is the best service at the lowest price. Secondly, most customers really are nice folks. Rather than tell us our service is rotten or we lack the follow through required to earn their business, they let us down gently with a well-placed, “It looks like your price didn’t line up this time.”

What’s a mother to do? We believe that using a scientifically driven analytic tool will begin to give you an idea of your company’s pricing in the market. On top of that, pricing process metrics allow the manager to measure, coach and enforce a process that adds significantly to the overall bottom line.

Click here to read the complete article.

 

Upcoming SPA Events

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

Other SPA Events

Click here for other SPA event dates and times including our upcoming webcasts.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Six Sigma Pricing > Improve: Build Processes, Systems and Tools to Assist Teams & Create Reporting Tools to Track Improvements

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This is the fifth in a six part blog series on how manufacturers and distributors can apply Six Sigma methodology to the pricing function to generate repeatable margin gains. This blog covers the importance of driving incremental improvements through building processes, systems and tools to assist teams and create reporting tools to track improvements.

All pricing practice leaders know a disciplined process is needed to create and maintain Pricing Excellence – to effectively drive incremental improvements your team must focus on these four areas:

  1. Build process, systems & tools to assist team in exceeding their goals. (Automate at all cost)
  2. Hire based on foundational skills versus experience
  3. Train teams on key foundational skills that they will need to exceed their goals.
  4. Create reporting tools to track improvements

Processes, Systems, and Tools

As we covered in our last article on this topic, it is crucial that you implement real-time visibility into business processes defects in the Analyze phase to ensure you are focusing your improvement efforts in the right areas.

Other key elements of this phase include:

  • Base lining your current pricing performance helps to understand what the potential improvement can be.
  • Benchmark your goals and objectives based on the leader in your industry to drive toward World-class performance.
  • Creating playbooks allows you to go from identifying to rectifying deficiencies in your pricing process.
  • Implement automated deal tools so you can play offense or defense when appropriate by being able to make dynamic pricing decisions.

Hiring and Training

The real key to long-term success and to achieve Pricing Excellence – people. Always choose character over experience. Pricing is hard and you will train them to make excellent pricing decisions but they must have some core traits. Leadership, communications skills, and an analytical mind are the three most important traits. Quantitative, numbers driven decision makers such as former military academy grads, quantitative undergrad (Finance, Accounting, Physics, etc.) majors who also participated in a team sport, and yes even select sales people in your own company make great pricers.

To achieve long-term success, an effective and robust training program must be developed. It must include everything pricers will need to be successful and must be geared towards developing a proactive approach to identifying improvement opportunities in margin, market share, etc.  They must be constantly driving change – the ability to make decisions faster and more accurately is a major competitive advantage.

Reporting

Reporting tools to track performance in all areas are a must to drive profitable growth in your business and to drive discipline in the revenue side of your business.

Automated tools are needed to make effective decisions based on analytical scorecards. Answers to 95% of the questions about a deal should be at hand in near real-time and in a clear and concise format.

Creating Standard Operating Procedures are also key and must detail who does what in each step of each process and how decisions are made to eliminate confusion over price setting and approval authority, etc.

Six Sigma Program Overview

Six Sigma Master Blackbelt Greg Preuer, of SPA has created the first course designed to apply time tested Six Sigma methodology to pricing.  Those who study with Greg will learn not only how to drive the pricing process but how to sustain the gains and automate the process.  They will become Six Sigma experts (Blackbelt) in business process with a focus placed squarely on price management.

Graduates from this course will learn to chart a clear path to pricing improvement.  They will learn each of the following steps:

  • How to design and design goals which are consistent with their company’s pricing strategy.
  • How to measure and identify characteristics critical for pricing success.
  • How to analyze the current situation and steps along the way.
  • How to design an improved alternative which moves closer to the desired result.
  • How to verify that actions taken create the right results.

A Pricing Process founded on SPA’s Six Sigma Program includes the following:

  • Negotiating strategy and tactics
  • Value-based pricing
  • Automated decision making tools
  • Customer Profitability improvement plans
  • Sales team selling value
  • Pricing strategy and leadership
  • Consistent and fair pricing architecture
  • 2 to 4% growth in GM%
  • Pricing based on customer sensitivity
  • Continuous improvement focus

To learn how you can realize the benefits of SixSigma Pricing, contact SPA today at info@strategicpricing.com or 216.455.1545.

The following is the remaining area we will dive into in a future article in this blog series that will help illuminate the path to Six Sigma Pricing Excellence.

  1. Control: set and enforce pricing authority levels and repeat previous steps as continuous improvement never stops

Upcoming SPA Events

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

Other SPA Events

Click here for other SPA event dates and times including our upcoming webcasts.

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Webinar: Pricing Effectiveness – You Get What You Can Negotiate | 12-Jan

Posted on

What would happen if every deal that came across your desk suddenly had a one percent higher margin?

When: Thursday, January 12, 2017 @ 2:00 PM Eastern

are-you-leaving-money-on-the-table

What if, in a few months you were seeing 3-5 percent higher margins on most of your deals?

These aren’t pie-in-the-sky questions – this is reality for SPASIGMA clients.

You and your team can become master negotiators. That sounds far-fetched, I know, which is why we’re offering this overview of how we make it happen.

It’s simple: just register for the SPASigma webinar on a new approach to negotiation training.

Click here to register

Why Negotiation Training

What does success mean to you? Higher margins and profits? Higher customer satisfaction? Stronger business relationships? More money? A successful career? Whatever your version of success, negotiation is a critical key to achieve it. We believe negotiation is like a sport. It requires deep knowledge of the subject, specific skills, training, coaching, equipment and continuous practice. SPASIGMA offers the systematic, holistic, long-term approach that professional business people need in order to achieve true mastery of this critical skill-set.

Optimal success requires negotiation training. Typically, salespeople are trained to sell, buyers are trained to buy. Buying and selling skills provide one component, but the subject of negotiation is vast and complex. Once exposed to formal negotiation training, experienced professionals are often amazed to learn of the vital areas of opportunity only visible through the lens of negotiation.

Click here for the SPASigma Negotiation Resource Center

SPASIGMA addresses one more important point in their training offering. “Salespeople go to great training, get enthused and return back to 150 other things we ask them to do,” Smith says. “If they don’t immediately start using the skills covered in the course, a couple weeks later most of the valuable tools are forgotten or at least not top of mind.”

Find out: How a One Day Seminar Leads to Negotiation Mastery

To ensure distributors realize a long-term ROI from their negotiation training investment, SPASIGMA offers a series of interactive online exercises which extend for months following the training, thus addressing this important component of adult learning.

Would you like your distributorship to realize the same benefits as the team at Granite City Electric Supply?

Check out our on-demand webinar to learn more: Introduction to Negotiation Mastery

 

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

 

Other SPA Events

Click here for other SPA event dates and times including our upcoming webcasts.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

Webinar: SPASigma Personality Quotient Training | 11-Jan

Posted on

Imagine you have to build relationships with two personalities as different as Donald Trump and Hillary Clinton. A single strategy probably wouldn’t work equally well with each of them, would it?

When: Wednesday, January 11, 2017 @ 2:00 PM Eastern

What if you could learn a practical set of skills to help you quickly and efficiently differentiate your strategy to the personality of the individual? You would build stronger relationships, faster and more efficiently, than if you applied a one-size-fits-all approach. You would increase your RQ!

With proper PQ training, within a couple of minutes of meeting an individual, you can identify which of four temperaments they relate to, and adjust your relationship-building, selling, negotiating, and other strategies to efficiently accomplish your objectives. You can boost your RQ!

Check out these two short videos for a glimpse of the tools the webcast will provide:

Donald Trump Video:

Hillary Clinton Video:

We can’t wait to show you how to master these skills! See you at the webinar!

Click here to register

Why Negotiation Training

What does success mean to you? Higher margins and profits? Higher customer satisfaction? Stronger business relationships? More money? A successful career? Whatever your version of success, negotiation is a critical key to achieve it. We believe negotiation is like a sport. It requires deep knowledge of the subject, specific skills, training, coaching, equipment and continuous practice. SPASIGMA offers the systematic, holistic, long-term approach that professional business people need in order to achieve true mastery of this critical skill-set.

Optimal success requires negotiation training. Typically, salespeople are trained to sell, buyers are trained to buy. Buying and selling skills provide one component, but the subject of negotiation is vast and complex. Once exposed to formal negotiation training, experienced professionals are often amazed to learn of the vital areas of opportunity only visible through the lens of negotiation.

Click here for the SPASigma Negotiation Resource Center

SPASIGMA addresses one more important point in their training offering. “Salespeople go to great training, get enthused and return back to 150 other things we ask them to do,” Smith says. “If they don’t immediately start using the skills covered in the course, a couple weeks later most of the valuable tools are forgotten or at least not top of mind.”

Find out: How a One Day Seminar Leads to Negotiation Mastery

To ensure distributors realize a long-term ROI from their negotiation training investment, SPASIGMA offers a series of interactive online exercises which extend for months following the training, thus addressing this important component of adult learning.

Would you like your distributorship to realize the same benefits as the team at Granite City Electric Supply?

Check out our on-demand webinar to learn more: Introduction to Negotiation Mastery

 

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

 

Other SPA Events

Click here for other SPA event dates and times including our upcoming webcasts.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

How Negotiation Training Makes a Difference for Distributors

Posted on Updated on

If you were to assume that knowledge-based distributor salespeople live on the front lines of negotiation training you would be wrong. In the unlikely event they have been exposed to formalized training on the subject, many have been turned off by the “one time” event nature of the training. Those who took part in the training years ago admit they have forgotten the skills they were taught.

electrical-tools-for-electricians-1000x400

Negotiation training that emphasizes relationships

The difference between the “one time” event and the realities of distribution selling was summed up best by Greg Smith, Executive VP of New England based Granite City Electric Supply. “Our selling is based on building an ongoing customer relationship. These extend for decades and embody mutual trust, respect and partnership. The negotiation tactics, which typically make up the bulk of most such training, are just not appropriate when we plan to see the guy again next week.”

There is a difference, and upon learning of Granite City Electric’s decision to employ SPASIGMA’s training program for their sales team, we decided to solicit Mr. Smith’s thoughts on the drivers of this decision.

Survey Results: Shortcomings of Wholesale Distributor Negotiation Training

Teaching sellers to act like owners

“We allow our sales people a lot of leeway with their customers. Granite City Electric offers a vast number of extra services, things like an emergency hotline, our Night Train Delivery Service, job trailers, rapid wire spools and a whole bunch more,” says Smith. “Service doesn’t just happen, it costs money. After previewing the SPASIGMA training, we realized it transcends anything else on the market. Instead of just a bunch of tactics, it encourages a solid understanding of the impact of everything associated with our kind of selling. It encourages sellers to think more like business people, recognizing the overall impact of their actions on profitability. They’re encouraged to find the ideal mix of customer value and return on investment for our organization.”

During each and every customer interaction, sales people are put into a give and take interaction with long-term customers, and must quickly determine the cost of any concessions. In an industry where the bottom line margins hover between two and three percent, a few price concessions and extras can take a sizable bite out of profitability.

Further complicating the situation, distributor salespeople are mostly unaware of the costs of non-product offerings both intangible and otherwise. Granite City Electric believes the training (in Smith’s words) “gets people to understand the whole situation and make better decisions.”

Getting to the heart of what matters

Looking into the nuts and bolts of the training, SPASIGMA instructs on strategies to determine the customer’s pressure points. For example, it’s not uncommon for salespeople to offer up services which are costly to their employer, but not all that important to the customer. For instance, a salesperson receiving an order gives the customer expedited (and more costly) delivery even though delivery really wasn’t of high importance to customer. The truck makes a special trip rather than including the products in the regular delivery schedule. Operating costs skyrocket, profits drop and all the while, the customer didn’t even care. Unfortunately, this is an everyday occurrence in wholesale distribution.

Negotiation training that sticks

SPASIGMA addresses one more important point in their training offering. “Salespeople go to great training, get enthused and return back to 150 other things we ask them to do,” Smith says. “If they don’t immediately start using the skills covered in the course, a couple weeks later most of the valuable tools are forgotten or at least not top of mind.”

Find out: How a One Day Seminar Leads to Negotiation Mastery

To ensure distributors realize a long-term ROI from their negotiation training investment, SPASIGMA offers a series of interactive online exercises which extend for months following the training, thus addressing this important component of adult learning.

Would you like your distributorship to realize the same benefits as the team at Granite City Electric Supply?

Check out our on-demand webinar to learn more: Introduction to Negotiation Mastery

 

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

 

Other SPA Events

Join us for one of the following upcoming webinars:

SPASigma Personality Quotient Training

Wednesday, January 11, 2017 @ 2:00 PM Eastern

Imagine you have to build relationships with two personalities as different as Donald Trump and Hillary Clinton. A single strategy probably wouldn’t work equally well with each of them, would it? What if you could learn a practical set of skills to help you quickly and efficiently differentiate your strategy to the personality of the individual? You would build stronger relationships, faster and more efficiently, than if you applied a one-size-fits-all approach. You would increase your RQ!

With proper PQ training, within a couple of minutes of meeting an individual, you can identify which of four temperaments they relate to, and adjust your relationship-building, selling, negotiating, and other strategies to efficiently accomplish your objectives. You can boost your RQ!

Check out these two short videos for a glimpse of the tools the webcast will provide:

Donald Trump Video:

Hillary Clinton Video:

We can’t wait to show you how to master these skills! See you at the webinar!

Click here to register

 

Pricing Effectiveness – You Get What You Can Negotiate

Thursday, January 12, 2017 @ 2:00 PM Eastern

What would happen if every deal that came across your desk suddenly had a one percent higher margin?

What if, in a few months you were seeing 3-5 percent higher margins on most of your deals?

These aren’t pie-in-the-sky questions – this is reality for SPASIGMA clients.

You and your team can become master negotiators. That sounds far-fetched, I know, which is why we’re offering this overview of how we make it happen.

It’s simple: just register for the SPASigma webinar on a new approach to negotiation training.

Click here to register

Click here for other SPA event dates and times including our upcoming webcasts.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

 

Wholesale Distributors: Do You Suffer from These Sales Training Shortcomings?

Posted on

Acquisitions, new transactional channels and shrinking margins are the new normal for wholesale distributors. In this era of changing customer needs, are you providing your sales team with the training they need to thrive?

That’s what Real Results Marketing aimed to find out in its recent survey of wholesale distributors.

We reviewed the results and found three prevalent opportunities for wholesale distributors to improve their training methods. If any of these shortcomings sound familiar, don’t worry, you will also discover insights that can help you address the holes in your company’s current training system.

[Related] Why Negotiation Training Makes a Difference to Distributors

Shortcoming #1: You over-rely on “on-the-job” training

More than four out of five survey respondents cited on-the-job training as the “preferred method” of sales training. Just behind it was side-by-side training at 74 percent.

Can on-the-job training work? Sure, it can be very effective. But in most cases, the training is either demonstrated or verbalized with limited documentation or follow-up.

It’s hard to tell if this style of training actually works because the effectiveness of most internal training isn’t tracked. There’s no formal structure, which typically means no benchmarks with which to compare performance. Rather than following a set program, you rely on a veteran member of your sales team to serve as an example, meaning success is highly reliant on the individual trainer. One trainee’s experience can be excellent. Another’s experience can be horrific.

Because veteran trainers typically have no vested interest in the trainee’s success, trainees are often left to sink or swim. Trial and error learning can lead to lower morale and higher turnover, which can lower customer satisfaction.

[Related] The Difference Between a Trained and Untrained Negotiator

Shortcoming #2: You prioritize product knowledge over profitability

When asked about the type of training provided for customer-facing employees, most distributors said product training was offered most frequently, followed by general sales training, then followed by another type of product training: vendor product training.

There’s no question that product-centric training is valuable, especially for newer employees. The problem is when training begins and ends with product knowledge and internal systems. In The Conference Board’s “2016 CEO Challenge,” leadership development was a recurring “top concern” among distributors, yet this concern is not reflected in the actual training distributors offer.

Another type of training that allows customer-facing employees to evolve into leadership roles (and has the most direct effect on a distributor’s profitability), negotiation training, is also offered much less frequently than product and systems-centric training.

By empowering employees to play a strategic role in customer satisfaction and profitability, they can grow customer relationships and loyalty while also serving their desire to grow with the company.

Shortcoming #3: There’s no system in place to ensure sales training “sticks”

Real Results Marketing’s survey revealed that while 75 percent of distributors would like to see training delivered via a learning management system (LMS), only 22 percent of respondents are actually using an LMS. The minutes per month spent on online learning (below) also reflects the lack of a formal training process.

The problem with most training is that it’s delivered as a one-time event via PowerPoints, webcasts or videos. When the training ends, the training materials are filed away, never to see the light of day again. The knowledge within the training material gets filed away as well, limiting the distributor’s ROI.

Lack of accountability can also negatively affect training ROI. When given a choice between training and selling, salespeople most often opt to perform their normal, day-to-day duties.

So, what is the best way forward for sales leaders at wholesale distributors? As one distribution executive noted, “We need to do less training and find ways to retain the training we are delivering in a more effective way.”

To thrive, modern distributors must build an effective, repeatable training path that returns real, provable value to both salespeople and the company. Training effectiveness should be tracked so that sales leaders and executives can be certain that mission-critical knowledge is retained.

[Related] Learn 10 Negotiation Tactics Buyers and Sellers Use to Gain Leverage

See how your buyers and sellers can learn and retain strategic negotiation skills that significantly boost long-term profitability. It’s easy.

[Watch] 30-minute, on-demand webinar Introduction to Negotiation Mastery

 

Set You and Your Team Up to Win Better Agreements at Battle For Margin

spasigma-blog-footer-800-by-300-pixels

Your organization’s profits depend on the individual and collective negotiation skill of your employees – from sales to purchasing. The Battle for Margin negotiation intensive is a rare opportunity to dive deeper into negotiation strategy that will immediately drive for more profitable agreements. Don’t you and your team deserve to be set up for success? Don’t miss the Battle for Margin.

It will be held in Miami at February 9-10 at the Grand Beach Hotel Surfside.

Get negotiation intelligence you’ll find nowhere else:

Revolutionize how you and your team view negotiation. Give your organization the tools and knowledge to drive more profit than ever before with compelling and eye-opening case studies, critiques, and group exercises. Instill knowledge fast. The day will fly by because our seminars are purposefully entertaining and educational; people learn more when they’re having fun.

Attendee Testimonials

Here what our clients have to say about the power of strategic pricing tools from SPASigma Negotiation Training Seminars.

“SPASIGMA breaks the standard mold of slow pace seminars. It’s engaging, fun, and interactive in a setting that feels warm and comfortable.”

     — Mitch Koepp, Marketing Manager, All World Machinery

 

Other SPA Events

Join us for one of the following upcoming webinars:

SPASigma Personality Quotient Training

Wednesday, January 11, 2017 @ 2:00 PM Eastern

Imagine you have to build relationships with two personalities as different as Donald Trump and Hillary Clinton. A single strategy probably wouldn’t work equally well with each of them, would it? What if you could learn a practical set of skills to help you quickly and efficiently differentiate your strategy to the personality of the individual? You would build stronger relationships, faster and more efficiently, than if you applied a one-size-fits-all approach. You would increase your RQ!

With proper PQ training, within a couple of minutes of meeting an individual, you can identify which of four temperaments they relate to, and adjust your relationship-building, selling, negotiating, and other strategies to efficiently accomplish your objectives. You can boost your RQ!

Check out these two short videos for a glimpse of the tools the webcast will provide:

Donald Trump Video:

Hillary Clinton Video:

We can’t wait to show you how to master these skills! See you at the webinar!

Click here to register

 

Pricing Effectiveness – You Get What You Can Negotiate

Thursday, January 12, 2017 @ 2:00 PM Eastern

What would happen if every deal that came across your desk suddenly had a one percent higher margin?

What if, in a few months you were seeing 3-5 percent higher margins on most of your deals?

These aren’t pie-in-the-sky questions – this is reality for SPASIGMA clients.

You and your team can become master negotiators. That sounds far-fetched, I know, which is why we’re offering this overview of how we make it happen.

It’s simple: just register for the SPASigma webinar on a new approach to negotiation training.

Click here to register

 

Click here for other SPA event dates and times including our upcoming webcasts.

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.

SPASIGMA Personality Quotient Training Webinar | 15 December at 2:00 EST

Posted on Updated on

Personality Quotient Training Overview

Imagine you have to build relationships with two personalities as different as Donald Trump and Hillary Clinton. 

A single strategy probably wouldn’t work equally well with each of them, would it?  What if you could learn a practical set of skills to help you quickly and efficiently differentiate your strategy to the personality of the individual?  You would build stronger relationships, faster and more efficiently, than if you applied a one-size-fits-all approach.  You would increase your RQ!

With proper PQ training, within a couple of minutes of meeting an individual, you can identify which of four temperaments they relate to, and adjust your relationship-building, selling, negotiating, and other strategies to efficiently accomplish your objectives.  You can boost your RQ!

Check out these two short videos for a glimpse of the tools the webcast will provide:

Donald Trump Video: https://vimeo.com/193264640/89e56e46f4

Hillary Clinton Video: https://vimeo.com/193264660/33e8855ec1

We can’t wait to show you how to master these skills!  See you at the webinar!

Click here to register

 

Other SPA Events

Click here for other SPA event dates and times including our Battle for Margin Conferences.

 

 

Follow SPA

To easily keep up with the latest SPA announcements, events and resources you can subscribe to our Strategic Pricing Pays blog or follow us on LinkedIn or on the following major social media channels and file sharing platforms: Twitter, Google+, Facebook, SlideShare, and YouTube.

We also encourage you to join the Strategic Pricing discussions in our LinkedIn group and to sign up to receive our Strategic Pricing Newsletter by clicking here.