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?
Or…..
How much do you need to invest in training and coaching services in 2024?
Sales & marketing training and coaching are critical to a successful business strategy.
Training and coaching aim 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.
Companies can expect improved sales performance, better marketing strategies, and overall business growth.
However, with a wide range of training and coaching options, companies need help determining which investment is most appropriate for their needs and budget.
The cost of marketing training can vary greatly depending on factors such as:
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.
“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:
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:
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 maximize your resources to achieve your desired outcome.
Marketing and sales training helps 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…)
You'll need to consider your near-and long-term goals to feel confident that your financial investment and time commitment will increase your revenue.
Here are some reasons why you should consider investing:
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 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 monthly. 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 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:
Some additional factors 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.
A dedicated team member who 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.
Related: Why You Need Content Marketing for Your Business
Creating engaging and informative videos and investing in relevant MarTech software can enhance your efforts and attract and retain prospects.
Incorporating these strategies into your overall plan 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:
|
Job Title |
Cost |
Why Consider? |
|
Content Marketing Manager |
$50,000-$75,000 annually |
Hiring a full-time content marketing manager may be necessary for helping you create and execute a successful content marketing strategy |
|
Video Producer |
$45,000-$60,000 annually |
As you grow, hiring a full-time videographer will aid in continued success. You will also need to invest in the proper audio equipment (camera, backdrop, and lighting) |
|
Sales & Marketing Software |
$400-$2,000 monthly |
You’ll likely need a scalable CRM and robust content marketing system like HubSpot. |
As with any financial investment, it is essential to choose carefully when searching for the proper marketing training and coaching partner.
Here are a few tips when you start your search:
Be sure you have identified what specific goals you want to accomplish.
Examples of your specific goals might include:
Your specific goals may vary depending on the needs and interests of how you want the training and coaching delivered.
Your goals should 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:
Achieving specific business goals requires strategic thinking, tactical implementation, and consistent execution from the coach and the business’s trained team members.
If you’re not ready to make a major investment, check out some free online training tools we outline below.
Free marketing training is available on our blog, podcast, and social media channels.
You can also find free marketing training through the HubSpot Academy. To access it, you’ll need to create a free account.
Although HubSpot Academy courses differ from hiring a marketing coach, they are worth considering as a starting point and can be done anytime.
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 are essential investments for companies that want 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 and $10,000 monthly or $42,000 and $240,000.
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.
Have questions?
Are you interested in more information on sales & marketing training and coaching for home services companies?
Schedule some time to talk with us. We are here to help.