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ROI White Paper

Common Training Challenges

  • Lack of time
  • Lack of qualified resources
  • Inconsistencies in instruction
  • High costs of recurring in class training
  • Keeping pace with product changes
Standard Training Programs Weakness
Weakness
Outcome
  • Training is passive
  • Instructor led classroom format
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  • Length of training is fixed
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  • Inconsistencies in training
  • Training focuses on knowledge
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  • Lack of follow-up training
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  • Low levels of retention (5%)
  • Low levels of retention (5%)
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  • Quick learners waste time, become demotivated
  • Slow learners sent out prematurely, fail with customers
  • Representatives develop bad habits
  • Little or no opportunity to apply knowledge
  • Prevents change in behavior and habit creation
How To Increase Retention
Two Commonly Used Approaches
Drawbacks
  • Live Role Playing
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  • On-the-Job Training
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  • Trainees can practice poor skills with inexperienced partner
  • Create bad habits
  • Subjective
  • Inconsistency of instruction and individual trainer techniques
  • Subjective
  • Representatives learn at the expense of lost customers and business opportunities
  • Lengthy
  • Burns leads
  • Impacts reputations

There is an alternative: DialogCoach.

Did you know?...Companies admit, they train representatives through a training program, but the real learning (procedural knowledge) is developed through on-the-job experience. People learn by doing.

Why not learn and transform the proper behavior patterns into habits without practicing on customers?

How Can Your Representatives Transform Behavior Patterns Into Effective Habits And Action?

DialogCoach: your representatives personal CUSTOMER SIMULATOR.

  • The Virtual Customer:
    • listens
    • responds
    • objects
    • asks questions
    • interrupts
Virtual Customer
Advantages
Outcome
  • Representatives master dialogue (and software if relevant) before customer interaction
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  • Ability to adjust quickly to new product data, objections, findings
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  • Safe learning environment
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  • Objectivity
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  • Consistency
  • Burns less leads
  • Preserves reputations
  • Presentations are more succinct, captivating
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  • Prompt, consistent messaging
  • Maintain product sales
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  • Representatives create habits without feeling awkward, or under pressure
  • Practice as much as necessary
  • Practice anywhere, anytime
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  • Results and scores are fair and accurate
  • Personal/subjective dynamics avoided
  • Consistent feedback regardless of personal relationships
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  • Increases brand awareness
  • Secures customer perception of product
  • Prevents representative confusion

ROI Analysis

At the simplest level, any ROI analysis boils down to 3 basic dimensions: business results, time, and cost. In short, how will the solution help the organization perform better, faster and cheaper?

The analysis can be further broken down within these dimensions:

  • Cost of Delivery
  • Learner seat time (wages of learners)
  • Instructor time (wages of instructors)
  • Curriculum/solution development costs
  • Delivery costs
  • Turnover
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  • Business Results (Performance)
  • Business metrics
  • Sales
  • Customer satisfaction
  • New accounts
  • Operational metrics
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  • Calls per hour
  • Average talk time
  • Cost per transaction
  • Hold time
  • Etc.
  • Time
  • Learner seat time (cost of downtime)
  • Instructor time (cost of time away from other value add activities)
  • Learning Gains*
  • Post test results
  • Learner surveys
  • Instructor evaluations

* With respect to training solutions, some analysis also include a fourth category, learning gains. Learning gains are, in many cases, a convenient statistic because they can be relatively easy to measure. These measures can be useful but can be misleading, since it is often difficult to translate these metrics into tangible business result.


Learning Curve

Another way to think about the benefits is to look at the typical learning curve for most organizations. Diagram 1 below depicts a typical situation for a company.

Learning Curve Sans DialogCoach
Figure 1
Lerning Curve WITH DialogCaoch
Figure 2 The shaded area represents the potential gains.

The ultimate goal is to bring representatives up to a level of competency that is productive for the organization (C). Productivity might be defined along any combination of business results metrics listed above.

Typically, the new hire curriculum falls well short of achieving this level of proficiency (A). Not surprisingly, the classroom curriculum is followed by a period of monitored on-the-job training. In many cases, this period still does not bring the representative to the productive level but to an 'acceptable' skill level (B) that the organization can manage.

For a solution to have compelling ROI, it must either 1) reduce the cost of getting to C, 2) reduce the time needed to get to C, and/or 3) raise the average level of agent productivity beyond C ('raise the bar').

DialogCoach has the potential to do all three. As you can see, above (figure 2) is an illustration of how DialogCoach can deliver substantial ROI.

DialogCoach can not only help representatives reach a productive level faster, but it can also raise skill levels of representatives beyond what is possible in a traditional training and development process.

Cost of Delivery
Standard Classroom
DialogCoach
  • Wages of learners
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  • Downtime/lost sales opportunities
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  • Representatives' travel, lodging, meals, flights
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  • Trainers' travel, lodging, meals, flights
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  • Training development
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  • Facilities
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  • Trainers' time consumed
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  • Licenses
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  • Scenario Development (if the company does not create their own scenarios)
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  • N/A
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Cost of Failure
Standard Classroom
DialogCoach
  • New representative wages
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  • Trainers' time and energy
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  • Representative's travel, lodging, meals, flights
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  • Turnover attrition
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  • Training materials
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  • DialogCoach doesn't fail
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  • N/A
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Remember: The point is not that people won't make mistakes. Failure is a part of the learning process. The issue is where and when you allow them to fail, and what they learn from the experience. By providing representatives real world experience in a safe environment, the organization can reduce costly failures and missed opportunities.

Companies using DialogCoach benefit up to 117% increase in sales.

Added Benefits Of DialogCoach

Most representatives have a tendency to speak too fast and slur phrases. DialogCoach forces the representative to speak at a slower, more understandable pace.

If DialogCoach cannot understand you, then chances are neither will your customer. In this way, DialogCoach provides a good sounding board for students to rehearse and tune their accents