3 Ways to increase Revenue through training.
As we start the year, we’re all looking for ways to ensure 2014 is better than 2013, and for business owners and managers, one of our top priorities is always revenue and profit.
So here’s 3 areas training can help you achieve your 2014 goals:
1. Train your employees
Training your employees not only makes sense, it makes dollars.
Whether you are training to meet your compliance requirements, saving you the expense of fines or penalties, or training for competence to improve productivity and performance, the right training is one the best performing investments you can make in your business today.
What if your sales people were better trained to upsell or value add, increasing the number of sales, and the value of each transaction?
What if your support staff were better trained to identify clients that were unhappy or about to leave, allowing you to act and save the relationship or opportunities to do more business that might have otherwise been missed?
What if your line managers and supervisors were better trained to manage their people, reducing staff turnover and improving productivity?
Training can not only save you money, it can make you money too.
These are just a few simple, internal training initiatives for your employees that can deliver massive improvements to your bottom line.
But there’s more…
2. Train your Customers
Training customers not only reinforces your organisation as the industry leader, it provides a great way of adding additional value and additional revenue.
A lot of organisations already offer training, even if its not formalised or recognised.
We have a client involved in providing cleaning chemicals for example, who offer training to their customers on the safe use and handling of their product.
We have another client who wholesales products to a national retailer.
Recognising that their retail clients are “high turnover” employers, they offered their very own “Retail Sales Training Course” for their customers employees, providing training in generic retail sales and offering value to all involved.
The Customer benefits as their employees become better at selling and make more sales (including more sales of our clients product), and our client benefits by building a stronger relationship with their customer and also getting a chance to spend more time detailing the features and benefits of their products during the sales training.
What product and service did they elect to use as a sample when explaining or demonstrating the sales process, overcoming objections and making the sale, their own of course.
Where are the opportunities in your business, to add value or build revenue by training your customers?
3. Train the public
You’re an expert in your field. You’re the best in your industry, so why not share that experience with the public.
Its well known that information led marketing is by far the most successful marketing in business today, so why not extend that and create a lead generation system that not only drives sales, but delivers its own line of revenue?
We have a client who sells products to assist in environmental spill clean up. They created an online course to show people how to identify and clean up a spill, and now sell that as a separate offering.
We have another client in Marketing and PR, who has created a series of training tools on Do It Yourself Public Relations.
This process has been so successful, even some of their competitors now refer their own staff to if for training a new source of revenue plus a great marketing tool.
What industry skills or knowledge do you have that you could turn into a training program for the public, and a revenue source for your business?
If you currently have employees, customers or knowledge, you have a great opportunity to leverage those relationships or skills into improved revenue and profits in 2014 by exploring training.
And the best training to provide is YOUR training.
And the best way to deliver that training is online and on demand. If only there was someone who could help!!
OTrain – we put YOUR training, online.
Wondering how this might work for you and your business?
OTrain offers a Training Opportunity Discovery Service (TOD) which can help identify opportunities for you and your business in each of the three areas.
Valued at $275, the discovery service involves a 45 minute consultation, and includes a detail report or identified opportunities across all 3 areas for your consideration.
Best of all, there’s no obligation. Just a chance to identify where Training could add profit in your business in 2014.
To book a TOD, click here and use the promotion code 2014Growth and its yours for free, just for reading our blog.
About the Author
Shane Ridley is the Founder and Managing Director of OTrain. With a background in Workforce Development, Shane has been involved in everything from staffing and developing workforces in Greenfield sites to working with 100 year old companies. 1 man operations to multinationals.
A serial entrepreneur, Shane has also successfully started and grown 5 businesses, on 3 occasions taking them from concept to $1M+ in revenue.
Connect with Shane via LinkedIn or Twitter
About OTrain
OTrain puts training online.
With our cloud based Learning Management System, and our Studi.O team, OTrain is on a mission to Save the World from Boring Training”
OTrain is Simply put, a better way to train.
Learn more about OTrain by visiting www.otrain.com.au or calling us on 07 3040 3310