We recently performed two studies in partnership with a 30+ location auto group on the east coast. Here are the encouraging results of those studies, which shows why the most successful dealers view training as an investment that pays for itself many times over rather than an expense.
We tracked store-level performance for all rooftops in the group, including:
The 20 stores that trained with Applied Concepts invested an average of $1,253 per month to train heir team. They achieved a 5% increase in Appointment Set and a 15% increase in Appointment Show. The net result was 10 more units sold per rooftop. That equates to an additional $15,000 of gross from an $1,253 training investment.
That is a 10.9x ROI on their training investment (they spend $1,253 and gained $15,000 of gross, for a net gain of $13,747; if you divide $13,747 by $1,253 = 10.9x ROI).
The 10 stores that did not complete training did not see improved performance. This means that the 10.9x result was not a result of improved market conditions or other factors unrelated to training. In fact, all of their performance metrics declined.
The auto group we partnered with concluded that the training was achieving significant ROI, and as a result Applied Concepts became a required training partner for every single store in the group. We've been working with them for the past 2+ years.
In addition to measuring the ROI of their training investment, we also partnered with the group to measure the skill development of their team members.
We graded calls from the 20 rooftops that completed 3+ months of training with Applied Concepts. We looked at their improvement on what we consider "Core Skills" — i.e., the skills that every single sales rep must master in order to succeed in their role.
We graded 5 criteria — "Did the sales rep . . .
Every single store saw significant improvements on these metrics. Below is a quick summary of the average results:
For the 11 rooftops that completed 6+ months of training with Applied Concepts, we also looked at "Advanced Skills"—i.e., skills that are central to developing meaningful relationships with customers. These are the skills necessary for a sales rep to take the next step in their professional development.
We graded 5 criteria — "Did the sales rep . . .
On these advanced skills, the results were equally concrete. Below is a quick summary of the average results:
These results are not unique to only one customer. You can see similar improvements in your performance and your team's skillset. Learn more HERE or connect with us HERE for a free assessment.