How Much Does Sales Training Cost?

  • May 14, 2024

Alright, brass tacks time people. When it comes to sales training, the burning question on everyone's mind is: "How much is this going to set me back?" We get it - money doesn't grow on trees, and you want to make sure you're getting the most bang for your buck. But here's the thing: the real cost of sales training isn't just the number on the invoice - it's what you're missing out on by not investing in it.

Picture this: you're a sales rockstar, closing deals left and right, rolling in commissions like there's no tomorrow. Sounds pretty sweet, right? Well, guess what? Sales training can help you get there faster. We're talking higher closing percentages, bigger deal sizes, and fatter commission checks. But you don't want to shell out your hard-earned cash for just any old sales training program. No no- you want to make sure it's worth every penny.

So, in this article, we're pulling back the curtain on sales training costs, from the budget-friendly to the break-the-bank options. Strap in, and let's get after it.

Why It's Worth It

Let's get one thing straight: sales is the lifeblood of any business. Whether you're a solopreneur hustling on the side or a seasoned pro climbing the corporate ladder, closing deals is what keeps the lights on and the coffee flowing. But here's the kicker - it's not always smooth sailing. In fact, research shows that a measly 28% of sales professionals expect to meet their quota in 2024. Yikes.

But fear not, because we've got the secret sauce to sales success: sales training. Investing in your sales skills isn't just a good idea - it's a game-changer. With the right training under your belt, you'll be crushing those sales goals faster than you can say "commission check." So why wait? It's time to level up your sales game and start raking in those big bucks.

Factors That Affect the Cost of Sales Training

Now that we've established why sales training is worth its weight in gold, let's talk dollars: how much is this going to cost you? When it comes to paying for sales training, it's important to know what you're getting yourself into. Here are the key factors that can affect the cost of each training program:

Your Trainer

First things first - who are you working with? Are they a seasoned pro with decades of experience in your specific industry? Or are they a bit more generic, catering to a wide range of industries? The answer to this question can have a big impact on how much you're going to pay for your sales training program.

Working with a top-tier sales guru like Grant Cardone might set you back a cool $10,000 for access to around 1,000 sales lessons. Sure, it's great content that covers everything from objection handling to closing techniques, but it's all pre-recorded and lacks that personal touch. Plus, let's be real— not all of us have ten grand lying around.

On the other hand, working with a company that specializes in sales training for your specific industry can be a game-changer. Sure, it might cost a bit more upfront, but the payoff in terms of actionable tactics and industry-specific knowledge can be well worth it. Programs like these can range from $2,000 to $6,000, depending on their size and scope.

But fear not— if you can't find a company that specializes in sales training for your industry, there are still plenty of affordable options out there. Just be sure to do your homework and find a trainer that offers the value you're looking for at a price you can afford. Many courses are out there in a variety of formats that can start at as little as $500.

Type of Training Format

Alright, let's talk about the nuts and bolts of sales training. From books and podcasts to one-on-one coaching, there's no shortage of options when it comes to leveling up your sales game. Here's a breakdown of the pros and cons of each:

Books + Podcasts:

Cheap and cheerful, but about as surface level as it gets. Sure, you might pick up a few tips here and there, but it's no substitute for hands-on experience. Everyone should be reading/listening all the time if they want to grow and progress in their careers, and there's no easier, more convenient, or cheaper way. Can you call it sales training? Not really but it definitely helps. Thank you audible for providing the least expensive, most convenient form of sales training out there. 

Pre-Recorded Videos:

Great for dipping your toes in the water, but lacks that personal touch. Again, like the course we mentioned earlier, some of these premium programs can run up to $10,000— but most don't get to be that expensive.

Recorded sales training is a great option when you're still figuring things out. You're not sure if you need sales training and don't want to commit to a more expensive course if it ends up not being worth it.

Its a learn when you want format that offers convenience over anything else. These types of sales training programs usually offer some GREAT tactics that you can use immediately, and typically stay away from the whole "change your mindset change your life" shtick. Applicable tactics right off the bat.

Not that sales theory is bad—  especially if you do need the mental shift they usually talk about, but we've found that the whole "ra ra just work harder" feeling of motivation you get from some of those sales programs wears off a couple weeks after you've completed them.

And if we want lasting results that will directly impact our closing rates and commission checks— we need tactics and actionable insights first. 

So be sure to do your research on a recorded sales training program. Are the offering what you need most? Then go for it and use one of these courses as an opportunity to assess your strengths. Then you can move on to a more tailored training program now that you know a bit more about what you're looking for.

Small Group Training:

Our personal favorite. Intimate, personalized, and chock-full of actionable tactics you can use right away. Plus, it won't break the bank - usually around $1,000 to $2,500 per course.

With small group training you can get personal advice from your trainer and get right down to what you're struggling with in a low pressure environment. These programs are usually around 5-10 people per class and feature a lot of round table discussion with others similar to you.

These programs have a lot of role playing and situational activities built in so you leave them with practical experience in whatever you're working on that day.

The only drawback here is because it's shared with other sales professionals, you're kind of at the whim of the sales trainer as to when and where these sessions are held. So not as convenient as pre-recorded sales training, but you get a lot of added benefits for not that big an increase in cost. 

1-on-1 Coaching:

Just you, your coach, and a laser focus on taking your sales game to the next level. 

It's by far the most effective form of sales training. You get personalized advice custom-tailored to your needs, your company, and your industry. The cost? Anywhere from $5,000 to $50,000 for a one-on-one program. Yes, it's the most expensive by far, but also the most effective and will have the biggest direct impact on your sales numbers.

So why shell out the big bucks? Well, because it works.

1-on-1 sales coaching is the crème de la crème. It's like hiring a new employee, your own personal trainer for your sales skills. Whether you're a seasoned pro looking to fine-tune your technique or a newbie just starting out, one-on-one coaching offers unparalleled insight and guidance.

Think about it like this: if you're serious about taking your sales game to the next level, investing in one-on-one coaching is a no-brainer. Sure, it might sting a bit upfront, but the payoff in terms of increased sales, bigger deals, and fatter commission checks is well worth it.

Plus, with one-on-one coaching, you get the undivided attention of a seasoned sales pro who's been there, done that, and got the t-shirt. They'll work with you to identify your strengths and weaknesses, develop a personalized training plan, and hold you accountable every step of the way.

But here's the best part: because it's just you and your coach, you'll get to dive deep into the nitty-gritty of your specific industry. No more generic advice that doesn't quite hit the mark - with one-on-one coaching, it's all about you and your success.

Again, we have to factor in how niche the industry is, how experienced the trainer is, and how valuable the content of these sessions are in order to get a good gauge on how much it will cost, but with the right research and the right idea as to what you're looking for you're sure to find a good fit.

Time to Hit the Books

At the end of the day, investing in sales training is like investing in yourself - it pays off in spades. So don't let the price tag scare you off. Find the right program for you, buckle down, and get ready to crush those sales goals. Trust us, your bank account will thank you later.

Ready to take the plunge? Reach out to TSSG today and let's start turning those sales dreams into reality. Your future self will thank you for it.

 

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