As Frank Cespedes points out at Harvard Business Review, “U.S. companies spend over $70 billion annually on training, and an average of $1,459 per salesperson — almost 20 percent more than they spend on workers in all other functions.” But sales reps lose more than 80 percent of the information they were taught at traditional sales training within the first 90 days. Sales training, as we know it, is broken.
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” - Aristotle
Many of the world’s top high-tech companies have started selling subscription-based access to their training content, generating net new revenue through an Enterprise Content Marketplace. These organizations understand the value of their content: it allows their customers to maintain their expertise on the latest products and technologies, and helps them earn and renew their certifications, all resulting in job security and career growth. They also understand the importance of the overall training experience, and know that a more enjoyable training experience leads to more engaged users, which in turn leads to “stickier” customers who become brand advocates.
Did you know that one Content Raven client takes in an additional $12 dollars in product and service orders for every one dollar their customer spends on training? Customers are willing to pay for training, and then they are willing to buy more product and upgrades down the line. It’s profit on top of profit for companies with effective training programs.
Choosing a CMS platform has numerous considerations to keep in mind, along with its functionality. It is vital you take the time to sit down with all stakeholders to discuss your needs and requirements. During this process, you will want to make a list of features, functions, and capabilities of the CMS.
Organizations of all sizes have a wide array of content they use every day. As technologies continue to evolve and advance, companies must develop ways to deliver content that is effective and clear while filling the needs of the targeted audience.
Today’s businesses operate much differently than they did a ten or twenty years ago. There have been significant changes to peoples’ work environments during this time as well. No longer are they bound to reporting to an office and working a set schedule from 9 to 5. Rather, they have the flexibility to work in a variety of environments, including: