The Importance of a Dedicated Budget for AI Sales Technology

BY:  Rebecca Herson
December 12, 2023
14 MIN. READING

Table of Contents

Artificial intelligence (AI) has caused immense disruption in just about every industry, and sales is no exception. The arrival of AI sales technology has brought a great many benefits to sales organizations, but while some corporations are storming ahead, others are lagging behind and haven’t yet actualized all the advantages of AI in sales enablement

One key differentiator between leaders and laggards has been the creation and application of a dedicated AI sales tech budget. In this article, we’ll discuss the benefits of AI sales training, the main steps in establishing a budget for AI sales training solutions, and how to allocate your budget for the greatest effect. 

An Overview of AI Sales Training Technology

AI sales technology encompasses many types of tools and use cases. One of the most valuable is that of AI sales training, which uses AI technologies like machine learning (ML) and natural language processing (NLP) to support sales training with personalized coaching and guidance.

AI sales training solutions can offer AI-based role play partners which conduct genuine sales conversations with sales reps, serving as knowledgeable, patient, and non-judgmental sales coaches. 

AI sales training also leverages powerful ML algorithms and vast large language models (LLMs) to automate evaluations and assessments far more quickly, objectively, and accurately than human supervisors. The solutions run sentiment analysis to understand sales rep strengths and weaknesses, and deliver insights into sales readiness and performance. 

The Benefits of AI Sales Training

As a subset of AI sales tech, AI sales training brings many benefits and advantages for growth-oriented organizations. 

Enhanced Sales Performance

AI-powered sales coaches and role play partners are available on demand and round the clock,  allowing sales reps to rehearse sales calls far more often. Interactive AI sales training is also more enjoyable and engaging than traditional training methods, encouraging sales reps to increase their practice time. More practice time inevitably improves both their confidence and their performance.

AI sales training enables sales reps to strengthen their selling skills, rehearse the best ways to deal with objections or respond to difficult customers, and polish soft skills before talking to a live lead. With the help of AI sales training insights and interactive sessions, sales leadership and sales enablement teams can speed up onboarding for new hires and make ongoing training and development more effective to build stronger sales teams.

Experience Realistic Sales Training
 

Personalized Training Programs

Thanks to the AI and ML analytics engine, AI sales training platforms can gather and analyze data about each sales rep’s performance. They identify and understand each rep’s individual strengths and weaknesses, including their tone, pace, and style, as well as noting when reps cover all the talking points that should be included in a given sales call. 

Using this information, AI sales training platforms can deliver customized sales training that is suited to each rep’s skills and capabilities. Reps receive timely and personalized assessments about their progress and achievements, together with recommendations about best practices. They can immediately return to another practice call and implement the suggestions to develop good habits. 

Reporting and Real-time Analytics

AI and ML analysis can crunch massive amounts of data about sales conversations, deal volumes, conversion rates, and more to produce actionable and easy-to-read insights. Sales leadership and sales enablement teams can view confidence, fluency, and mastery of product knowledge and value propositions on both an individual sales rep and team level. 

With user-friendly dashboards and real time analytics, you can track sales readiness and better predict sales performance. Trustworthy, relevant reports and insights allow you to plan sales strategies based on data rather than guesswork, and quickly adapt them to changing circumstances. 

How to Allocate a Dedicated Budget for AI Sales Training

Now that you’re eager to actualize the benefits of AI sales training solutions in your own organizations, it’s time to talk about allocating a budget. We all know that if something doesn’t have a budget, it doesn’t get taken seriously. That’s why your AI sales training plans need a ring-fenced budget that’s theirs alone. 

Here are 4 important steps to setting an AI sales training budget. 

Evaluate Current Training Costs

The first step is to carry out a thorough assessment of all your current training costs. Consider how much you spend on expert trainers, how much your existing training tools and tech stack cost, and extra expenses for additional licenses. Don’t forget to include the amount of work hours that go into running role plays for sales reps and evaluating recorded pitches. 

Define Your Needs and Objectives

Next, identify what you want to achieve with your sales training programs. Evaluate current sales processes and identify areas where AI training integration can enhance performance, such as boosting cold call conversions, increasing customer satisfaction with support processes, and improving strategic sales planning. 

By the end of this step, you should have established clear objectives for AI sales training, including specific metrics to measure success, like increased conversion rates or higher sales productivity.

Estimate the Costs of Your Planned Training Program 

At this point, you’ll need to research the different AI sales training solutions out there, so that you can build in the cost of different platforms or software. Think about whether you’ll need a custom-built program, or can buy a customizable solution that’s less expensive but just as effective. 

Don’t forget to factor in the cost of training materials, software subscriptions, and training employees to manage the new tech. You should also develop a timeline and strategy for implementing AI sales training, so you’ll know how long it will take before you see the effects. 

Identify ROI from AI Training

Setting a budget includes putting into place measures to track and measure the effectiveness of your new AI solution. Decide in advance on KPIs that align with your goals, like increased lead conversion rates, shorter sales cycles, improved customer retention, or higher average deal sizes. If you don’t already have data on these metrics, track them for a few months before introducing AI sales training tools, so you’ll have a benchmark. 

Continuously track the effectiveness of AI sales training against your established metrics, and analyze the data to isolate their influence. Calculate the cost savings or revenue gains directly associated with the use of AI tools by comparing your investment against the improved performance metrics, and then adjust the budget accordingly to optimize performance and address any evolving training needs. 

Key Considerations for Budget Allocation

With a budget laid out and your goals defined, it’s time to invest in an AI sales training solution. Make the most of the budget by evaluating different providers, choosing one that aligns with your sales strategies and available funds, and establishing an effective training implementation strategy that ensures your new solution will achieve all you expect from it. 

Choosing the Right AI Sales Training Provider

When you look for a vendor that aligns with your sales training strategies, check that it’s familiar with and able to meet the needs of your organization’s size and the type of sales you carry out. A smaller company could need to prioritize ease of implementation, because it may not have an extensive sales IT team, while a bigger one with multiple remote sales teams may be more concerned with ease of use for the end user. 

Reporting capabilities, training personalization, scalability, and data privacy and security are all critical features for every sales organization. You want to be able to easily customize your new AI sales training solution to deliver training for different sales situations and types of sales conversations, support the individual learning styles of every sales rep, and ensure compliance with all data privacy regulations. 

Second Nature, for example, offers an easy to use drag and drop simulation editor that allows sales leadership to build tailored sales conversation scenarios in a few minutes. The solution provides extensive reporting and data insights, and the AI engine quickly learns each sales rep’s strengths and weaknesses, and adjusts its recommendations and training simulations accordingly. It’s also compliant with all the leading data privacy regulations and comes with uncrackable encryption and access controls built into the framework. 

Training Implementation Strategy

It’s just as important to implement your new sales training AI tool in ways that maximize its effectiveness and ensure you achieve the RoI that you expect. First, you’ll need to think about your implementation goals, like if you want to onboard new hires 30% faster, or increase sales deal volume by 25%. 

If you’re using Second Nature’s AI sales training platform, you can then create role play simulations to achieve these goals. Use the training content you already have prepared. Upload your call scripts, customer scorecards, messaging guidelines, and other information to the platform, so that it can learn about your value proposition, understand your target audience, and produce relevant simulations more quickly. 

We recommend that you begin by building many role play simulations, so you can offer sales reps multiple scenarios. Second Nature makes it so quick and easy to create role play scenarios that you can quickly generate numerous role plays, empowering sales reps to train for every eventuality and become familiar with every sales call situation. 

The built-in AI analyzes the results of each practice session, and managers can drill into individual sessions or view their team analytics to get an overall picture of how close you are to achieving the goals you’ve defined. 

A Dedicated Budget Can Be the Key to Success with AI Sales Technology 

AI sales training solutions, and the broader category of AI-powered sales tech, can bring many benefits to your organizations, but the best way to maximize them is with a dedicated budget. By considering your sales goals and strategies, evaluating providers carefully, and taking a smart approach to implementation, you’ll be able to implement AI sales training solutions for maximum impact. 

FAQs

Is AI sales training suitable for all types of businesses?

Yes, AI sales training is an excellent option for any company that’s concerned about growing sales and/or delivering top customer support. With an AI training solution, you can help sales reps and customer support agents to practice difficult conversations, improve soft skills, and gain confidence so that they can perform better in sales or support calls. AI sales training is also appropriate for helping managers practice sensitive conversations with employees, and any situation where listening or conversational skills are required. 

What are some common challenges in implementing AI sales training?

Although AI sales training solutions bring many benefits, there can also be challenges in introducing them to your organization. AI systems rely heavily on high-quality, up-to-date datasets, which might require you to re-evaluate your data pipelines. 

Sometimes, new solutions aren’t easy to integrate with existing workflows and tech stacks. You might also encounter resistance from employees, who are nervous about using AI, don’t trust AI recommendations, or worry that AI could take over their jobs. 

However, when you plan ahead to meet these challenges and establish effective change management practices among your workforce, you’ll be able to overcome these challenges and unlock the advantages of AI sales technologies. 

Are there any security concerns associated with AI in sales training?

Potentially yes, so it’s important to be aware of the security issues that can affect AI sales training solutions. AI systems often require access to substantial amounts of data, which can raise privacy and data security issues if not handled appropriately. You’ll need to ensure robust security measures to protect data from potential breaches, unauthorized access, or misuse.

 

Additionally, AI algorithms themselves can be vulnerable to adversarial attacks or biases, which could lead to inaccurate insights or compromised decision-making that undermines the integrity of sales processes and customer interactions. That’s why it’s so important to choose a provider that takes security and data privacy seriously, with strong encryption, access controls, and other security measures, frequent audits, and a history of trustworthy interactions. 

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About the author

Rebecca Herson

Rebecca is head of marketing at Second Nature.

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