Sales Training Software Market

Sales training is a process that organizations use to educate their salesforce and level up their sales skills. Sales training is important as it educates salespeople on the different sales tools, improves their interpersonal skills, and enables them to communicate effectively with potential customers about the products or services offered.

Sales training software allows organizations to curate, manage and deliver sales training programs at scale. With the rising trend of e-learning and the increasing adoption of Customer Relationship Management (CRM) technology, more and more businesses worldwide are looking to implement sales training software. This blog post sheds light on the basics of sales training and the global sales training software market.

The global sales training software market was valued at USD 2.12 billion in 2022 and is expected to reach USD 7.74 billion at a CAGR of 13.9% during the forecast period.

Exploring The Different Sales Training Types

Sales training programs can be classified into four main subcategories. They are inside sales, service sales, field sales, and sales management. Below is a quick overview of these four sales training categories:

Inside sales: The term inside sales is used to refer to the act of selling products or services remotely. Inside sales can be done via multiple channels, which include email, internet, and phone. They are quite popular in the Business-to-Business (B2B) space, especially among organizations offering technology and SaaS services.

Field sales: Also known as outside sales, field sales refer to the process of selling an organization’s product or service on the field directly. When making field sales, sales reps often need to travel to potential customers and interact face-to-face about the company’s product or service.

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Service sales: Service sales deals with increasing the Customer Lifetime Value (CLV) of current buyers by fostering loyalty and providing exceptional customer services.

Sales management: This sales training program type is oriented towards sales managers. Sales management aims at helping experienced salespeople improve their team-building and sales development skills.

Advantages of Sales Training Programs

There are several advantages of conducting sales training programs. Some of them include:

  • Improved communication skills
  • Increased productivity
  • Lower turnover rate of salesforce
  • Attracts talent
  • Builds relationships with customers
  • Can help salespeople in realizing their potential

Industry Dynamics

The rising number of small, medium, and large enterprises around the world and the continuous expansion of the software product space are expected to boost the sales training software market demand. Also, the world’s paradigm shift towards e-learning is likely to fuel the growth of the market.

In addition, industry leaders conducting sales training programs to create awareness about industry-related products is likely to augment the market. Furthermore, the extensive adoption of CRM technology and the development of new policies and reimbursement programs by major governments are expected to drive sales training software industry growth during the forecast period.

Recent Developments in the Market

Corporate Visions, a leading B2B revenue growth service provider, developed a novel skills training program in October 2022. Aimed at renewing and expanding existing customers, the training program helps account managers learn how to leverage incumbent advantage to boost customer growth.

Salesloft, a leading sales engagement platform, developed an innovative coaching capability in August 2022. The coaching capability brings all sales activity in one place, which helps sales managers in tracking key trends and recommendations easily.

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Competitive Insight

Some of the global sales training software market key players include Allego, Brainshark, Commercial Tribe, Level Jump, Lessonly, Point Forward, Mindtickle, TalentMS, SAP SE, SalesHood, Salesforce, and Zoho Corporation.

Summing Up

The cloud-based segment accounted for the largest market share in the global sales training market segment in 2022. The growth of the segment can be attributed to the increasing prevalence of cloud-based software solutions, owing to their reliable and adaptable nature. Also, numerous global cloud companies are emphasizing on including innovations in their offering to garner the attention of sales training software providers. Cloud companies focusing on developing innovations for the sales training software space are influencing the growth of the market.

By Sonia Javadekar

Sonia is a poised content writer with five years of experience in the same. She is an avid writer with getting her work published for an audience to read and share. She strives to develop content that spreads brand awareness and induces consumers to click on the website that she wrote for after searching for a keyword. Her experience in content writing has permitted her to work with clients in market research industry. My passions include reading, writing and classical dance.