Where to Spend $, On Sales Training or Marketing?

One potential flaw in the entrepreneur mindset is the belief that to close more sales we need to invest in more marketing to have the phone ring more frequently. As a result our people will have the opportunity to set more appointments with potential prospects.

For example:
X Company Currently:
Monthly Marketing Budget: $10,000
Results: 20 Appointments per Month
Closes: 8 Closes Per Month (40% Close Ratio)

X Company Doubling the Marketing Budget:
Monthly Marketing Budget: $20,000
Results: 40 Appointments per Month
Closes: 16 Closes Per Month (40% Close Ratio)

What if the same company invested in training to better the skill set of the team? What if a direct result of that training yielded a close ratio that was dramatically increased by 30%?

For example:
X Company with Sales Training:
Monthly Marketing Budget: $10,000
Sales Training Budget: $10,000
Results: 20 Appointments per month
Closes: 14 Closes per month (70% Close Ratio)

Now, what happens to the sales results when the Entrepreneur shifts the focus back into marketing?

For Example:
X Company after training investing back into marketing:
Monthly Marketing Budget: $20,000
Results: 40 Appointments
Closes: 28 Closes per month (70% Close Ratio)

If you or your team is struggling with your results call Sales Concepts Inc. 440-575-7000!