FAQ: What kinds of businesses see the best sales training results?

Your success as a result of sales training and return on investment is dependent on several factors. Some organisations will experience a huge difference in results after the sales training, while others will achieve a more modest return on investment.

Which are those factors?

The three most telling indicators that a business will benefit from sales training are:

  • Number of leads
  • Average price point
  • Number of transactions.

The strengths or weaknesses that each business brings are bases around these three parameters. Companies with low figures may have a relatively lower increase in success following sales training as they are limited by their existing client base and conversion rate or price point.

For companies with high figures for number of leads, price point and number of transactions, an increase in conversion rates either on the phone or at appointments will have an exponential ROI for sales training.

Do you have an example?

To illustrate with an example, consider a hypothetical business with the following measurements of success prior to sales training:

  • 100 leads
  • 20 appointments (20% telephone conversion)
  • 10 clients (50% appointment conversion)
  • An average price of £1000
  • An average number of transactions of 1
  • Therefore the business is selling £10,000 per month.

If this business were to increase its conversion rate to 40% (which is not an uncommon increase) after 3 months, the sales training ROI will be 5.

Another business might have:

  • 1000 leads
  • 20 appointments (20% telephone conversion)
  • 10 clients (50% appointment conversion)
  • An average price of £1000
  • An average number of transactions of 1
  • Therefore this business also sells £10,000 per month.

If this business were also to increase its conversion rate to 40% after 3 months, the sales training ROI would be 59.

The equation works the same for higher average prices and transactions. A higher price point or more transactions per customer are huge factors. It’s easy to see that increasing transactions for a company with a product or service worth £5,000 will provide a much higher return than a company with an average price point of £500.

It therefore makes a great deal of sense for a business with either many leads, a high price point, and a high average number of repeat transactions to commission sales training.

NOTE: The best way to answer that nagging question about practice growth or marketing or patient volume in the back of your mind is to book a free 15-minute compatibility call. Get some options and go away with a clear idea of what’s possible.

About the author

LiveseySolar

LiveseySolar’s mission is to double the size of 150 cataract and refractive surgery practices. Using our proven marketing frameworks and deep market knowledge, our customers can predictably and sustainably grow their practices so that they can enjoy a healthy balance between both worlds – a successful private practice and a happy life.

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Meet our Founders

We’re passionate about helping leaders of high-quality, growth-minded practice owners double their practice revenue

Rod Solar

Founder & Fractional CMO

Rod co-founded LiveseySolar and acts as a Fractional CMO for our customers. He’s on a mission to help transform the lives of 10,000 people with vision correction surgery by 2024. To achieve that, he inspires his customers to make confident decisions that will help 50,000 people take the first step towards vision correction.

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LiveseySolar completely transformed the way we were approaching this… We’ve gone from having just the dream of having a practice to having a practice up and running with people making inquiries and booking for procedures… It’s extremely pleasing. We feel lucky we connected with LiveseySolar.

— Dr Matthew Russell, MBChB, FRANZCO, specialist ophthalmic surgeon and founder of VSON and OKKO

Laura Livesey

Founder & CEO

Laura Livesey is the co-founder & CEO of LiveseySolar. She has developed powerful refractive surgery marketing systems that increase patient volumes and profits for doctors, clinics, and hospitals, since 1997.

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Rod and Laura know as much about marketing surgery to patients as I know about performing it. They are an expert in the field of laser eye surgery marketing. They know this industry inside out. I believe that they could help many companies in a variety of areas including marketing materials, sales training and marketing support for doctors.

— Prof. Dan Reinstein, MD MA FRSC DABO, founder of the London Vision Clinic, UK