Do You Need Sales & Marketing Training and Coaching? What You Can Expect it to Cost in 2023
by Eliza Spain on Feb 16, 2023
Ever wondered what you could do to boost sales and take your marketing team to the next level?
How much do you need to invest in training and coaching services in 2023?
Sales & marketing training and coaching are critical components of a successful business strategy.
Training and coaching aims to improve the skills and knowledge of sales and marketing professionals, equipping them with the latest tools, techniques, and best practices in their respective fields.
The result—companies can expect improved sales performance, better marketing strategies, and overall growth for the business.
However, with a wide range of training and coaching options available, companies need help determining what investment makes the most sense for their specific needs and budget.
The cost of marketing training can vary greatly depending on factors such as:
- The type of training and coaching offered
- The experience and qualifications of the trainers and coaches
- The size and location of the company
Let’s examine the cost of marketing training and the potential benefits and factors that companies should consider when making this important investment—giving you an honest answer to even the most difficult or uncomfortable questions about the cost and what you can expect from your investment.
You’ll better understand how your investment will help guide you down the path to success.
What is Sales & Marketing Training and Coaching?
“Coaching is unlocking a person's potential to maximize their own performance. It is helping them to learn rather than teaching them.”
– Timothy Gallwey
Marketing training and coaching refers to professional development services aimed at improving the skills and knowledge of sales and marketing professionals.
The goal of marketing training is to help sales and marketing professionals:
- Become the trusted authority in their market
- Create content that is authentic to their brand
- Utilize content that answers customer questions in the sales process
- Delight customers, making them promoters of the brand
These services aim to equip participants with the latest tools, techniques, and best practices in their respective fields and provide opportunities for individual and team growth and development.
Marketing training programs are designed to help companies:
- Develop more effective content that answers prospect questions
- Generate more leads
- Close more sales faster
- Improve their overall sales and marketing performance
Think of it like this:
Like building a home, marketing training helps you lay the foundation for success by providing you with the knowledge and skills necessary to understand your target audience, answer questions that help prospects make purchasing decisions, and close more deals, faster.
A blueprint, or a well-designed strategy, provides a clear roadmap for achieving your goals.
And just like building a home, an experienced advisor's skilled craftsmanship can help you fine-tune your approach and make the most of your resources to achieve your desired outcome.
Marketing and sales training help salespeople and marketers learn and improve their techniques, skills, and processes to achieve revenue growth goals and become self-sufficient.
With hundreds of options, finding the right service for your business size, budget, and needs is challenging (more on that later…)
Reasons to Invest in Marketing Training
In order to feel confident that your financial investment and time commitment will increase your revenue, you’ll need to consider your near and long term goals.
Here are some reasons why you should consider investing:
- Create unique industry-specific content in your company’s voice and tone that only your internal team members can provide
- Develop your team’s skills in marketing, sales, and customer service
- Become self-sufficient and not have to depend on 3rd party agencies
- Reduce costs in the long run and increase your ROI
Does Every Training and Coaching Service Cost the Same?
A few questions we hear often….
How much does marketing training cost?
How much should you budget for sales and marketing efforts?
The answer: it depends.
Although that answer may be a bit frustrating, try not to be discouraged.
Marketing training can range from a free online course to investing time and money into a customized training course and marketing coach for your team.
If you hire a marketing coach, you can expect to pay upfront costs of $3,500 to $10,000 per month. Most coaching programs last 12-24 months, so that’s a total investment ranging from $42,000 to $240,000.
Training and coaching partners have a finite relationship with their clients, so the financial investment also ends once the relationship ends.
The approaches and techniques used in training, and the cost associated with these services, are constantly evolving.
The costs of these services can vary greatly depending on:
- The type of training and coaching offered: The costs of services can vary greatly depending on the length, depth, and scope of the training and coaching. For example, specialized one-on-one coaching services may be more expensive than group coaching or online training courses.
- The experience and qualifications of the trainers and coaches: The costs of services can vary greatly depending on the expertise and credentials of the trainers and coaches. Highly experienced and credentialed professionals may charge more for their services.
- The size and location of the company: The costs of services can vary greatly depending on the size and location of the company offering the services. Larger companies may charge more due to their overhead costs, while companies located in more expensive areas may charge more due to higher living expenses and operating costs.
There are some additional factors that affect these costs.
Hiring staff for video and content creation and purchasing software can be beneficial and significant for you to consider adding to your budget and plan.
Having a dedicated team member that creates and manages your content will allow you to cultivate a content-oriented atmosphere in your company.
It's crucial to have content that attends to buyer questions promptly and effectively. This will show your commitment to providing exceptional customer service and establishing trust with your target audience.
Additionally, creating engaging and informative videos and investing in relevant MarTech software can further enhance your efforts and attract and retain prospects.
By incorporating these strategies into your overall plan, you will build a strong foundation for a content-focused culture that leverages technology to support your goals.
Here is a brief breakdown of what you can expect these factors to cost:
Choosing the Right Coach
As with any financial investment, it’s important to choose carefully when searching for the right marketing training and coaching partner.
A few tips when you start your search:
- Ask questions. Understand the company’s values and mission.
- Take a good look at their website. Find out about their products and services.
- Seek success stories. Consider the company’s reputation in the industry.
Be sure you have identified what specific goals you want to accomplish.
Examples of your specific goals might include:
- Developing a deeper understanding of your target audience and how to effectively reach them.
- Learning how to develop and execute effective marketing strategies and campaigns.
- Improving your branding and messaging to better differentiate your business and products/services.
- Enhancing your online presence and digital marketing capabilities.
- Developing your leadership and management skills to better lead and motivate your marketing team.
- Measuring the ROI of your marketing activities and identifying areas for improvement.
- Overcoming specific marketing challenges or obstacles that are hindering the growth of your business.
Your specific goals may vary depending on the needs and interests of how you want the training and coaching delivered.
You will want your goals to be clear and well-defined to ensure that you choose a marketing coach who can help you achieve them.
What indicates a good fit for a marketing coach?
Look for someone with these qualifications:
- Comprehensive knowledge: A good sales and marketing coach should comprehensively understand the sales and marketing process, the competitive landscape, and how to use various marketing tools and strategies effectively.
- Customer-client relationships: A great sales and marketing coach will have strong relationships with clients and customers, enabling them to provide insights and advice on how to meet their needs best.
- Professional certifications: A coach with professional certifications in sales and marketing will have the necessary skills to help you reach your goals.
- Creative problem-solving: A good sales and marketing coach should be able to think outside the box and come up with creative solutions to complex marketing problems.
- Positive attitude: A good sales and marketing coach should have a positive attitude, be motivated and enthusiastic, and be able to motivate and inspire others.
- Empathy: A good sales and marketing coach should understand their client’s needs and empathize with their struggles and challenges.
- Organizational skills: A good sales and marketing coach should have strong organizational skills, prioritize tasks, and manage their time effectively.
Achieving specific business goals requires strategic thinking, tactical implementation, and consistent execution from both the coach and the business’s trained team members.
If you’re not ready to make a major investment yet, check out some free online training tools we outline below.
Get Started with Free Training Today
You can also find free marketing training available through the HubSpot Academy. You’ll just need to create a free account.
Although HubSpot Academy courses differ from hiring a marketing coach, it is worth considering as a starting point and can be done at any time.
A few courses we recommend:
If you’re looking for self-pacing training, check out the 10 Best Online Marketing Courses of 2023 from Intelligent.
Every company is unique, and we are here to help fulfill any specific needs that arise.
Marketing training and coaching is an important investment for companies looking to improve the skills of their internal sales and marketing teams and become self-sufficient.
The cost of marketing and sales training and coaching can range between $3,500-$10,000 monthly or $42,000-$240,000 in total.
You’ll also need to consider the costs of hiring additional staff ($45k-$75k/yr/person) and purchasing MarTech software ($400-$2,000/yr).
When considering the cost of marketing training, weigh the potential benefits against the investment and determine what type of investment makes the most sense for your company.
Investing in your team's professional development can lead to improved performance and long-term growth for the business.
Are you interested in more information on sales & marketing training and coaching for home services companies?
Schedule some time to talk with an advisor.
No Comments Yet
Let us know what you think