Updated: Apr 25, 2021
Even the best products and services don’t sell themselves, especially in the financial services industry and annuity sales, specifically. These products must be properly marketed, and the skills of your sales team will have a profound effect on the success of your organization and your clients’ satisfaction.
Through well-planned and ongoing sales training, you will be in a better position to better increase your customer base, keep your best sales talent, grow your business.
The Benefits of Annuity Sales Training
Annuities advisers are well-aware that the world isn’t kind to those who are passive or bring limited product knowledge. However, those advisers who commit to their profession by keeping their knowledge and skills current will dramatically improve their chances for success in this highly competitive industry.
Incorporating ongoing training for annuity sales professionals can bring the following benefits:
More Representatives Achieve Quota
The data proves that companies with sales training programs can expect a greater number of their annuity sales reps to achieve quota accompanied by an overall uptick in team sales.
Higher Win rates
Incorporating sales training also leads to a greater number of wins as a percentage of overall opportunities. This is because your reps are better prepared for each opportunity they are presented.
Decreased Rep Turnover
Incorporating an annuity sales training program will help to make your reps more successful, which typically leads to an increase in job satisfaction and a greater retention rate of employees.
Build an annuity sales training program will lead to greater communication and a higher degree of collaboration as it creates a forum for your reps to share their success stories and methods.
eLearning for Annuity Sales Training
As online and learning technologies continue to evolve, eLearning has emerged as the cornerstone of annuity sales training programs. Some of the benefits your organization can expect from deploying eLearning annuity sales training include:
Unlike classroom training, eLearning provides a low-cost method of training your sales reps as it eliminates typical in-person training expenses, such as travel, meals, venue and instructor fees, and more.
eLearning provides a convenient way for your annuity reps to learn on their own schedule and at their own pace. They are able to conduct their learning activities at any time and from any place that offers an Internet connection (and many eLearning activities can even be conducted offline).
Many eLearning programs and modules can be deployed quickly. This is particularly valuable for annuity sales training where new products and industry regulations may have a time-sensitivity to their training.
Any good eLearning technology will include powerful tools for collecting and analyzing user data. These findings can then be referenced as your organization looks to refine and improve your annuity sales training program over time.
LMS Portals for Annuity Sales Training
LMS Portals provides a powerful cloud-based platform that will allow your organization to easily and rapidly deploy an annuity sales training program for internal employee use.
Contact us to get started today!