Peer-to-Peer Learning Improves Win Rates
by Bill Rose, on Jan, 14, 2020
Have you ever been in awe of a “life hack” that seemed so obvious in retrospect? Did you obsessively reorganize your home after watching Marie Kondo on Netflix? If so, you know how powerful it is to see someone demonstrate a concept, especially when they do it well.
Enter peer-to-peer learning. Also known as user-generated content (UGC), peer-to-peer learning is the “life hack” that can elevate your sales organization.
For instance, you can encourage your sales reps to record a video of a skill in practice or a sales pitch that helped them win deals. Peer-to-peer learning allows your entire team to be exposed to proven tips, best practices, and vital feedback to raise their game. Sales reps that use peer-to-peer learning will quickly develop a mastery of products, skills and selling scenarios; they’ll also learn faster and retain more because they’re actively engaged and exposed to relatable perspectives.
Allowing your reps to contribute content based on their selling experiences engages the entire sales team in the design, creation, and value of learning.
Senior reps can pass along their hard-won expertise to junior reps; while younger contributors can bring fresh eyes to emerging challenges. Peer-to-peer learning supports the knowledge transfer needed to help sales grow, compete effectively and replicate what drives business.
Peer-to-peer learning readies your reps to apply what works with buyers to win more deals and promotes ongoing social learning. People—especially Millennials—expect to take control of their learning. User-generated content is a way to help inspire them to do so.
Informal, just-in-time learning puts the focus on context (the “how” and “why” of a strategy) vs. a blanket approach that requires rigid and formal training, and may not be needed or retained.
As you’re initiating 2020 sales readiness programs, it may be advantageous for you to consider the power of peer-to-peer learning facilitated by Microlearning within a Sales Hub.
- How to use content in support of conversations
- Skills development
- Pitch proficiency
- Market positioning
- Buyer awareness
- New product launches
- and more…
Engage Reps in Proactive Learning
Inviting your sellers to proactively participate in demonstrating their skills, learning from their peers or contributing their perspective can make learning more approachable and fun.
Peer-to-peer learning dispels the reasons most learners give for not engaging readily with training available in most LMS systems, including:
- Lack of time
- Uninspiring content
- Inability to find the content they need
- Barriers presented by your legacy LMS user interface
Microlearning created by your sellers creates a natural collaborative experience, which is how 91% of modern workers prefer to learn. Research from Bersin by Deloitte found that 87% of workers say that sharing with their team is critical for learning. Relating to a peer’s personal experience is a key way sales reps can visualize a technique in the field and then apply to their real-world scenarios.
Reps participate when they have the time—or a revelation—within the flow of work. Seventy-four percent of workers want to learn during their spare time at work. And nearly half of them prefer self-directed learning opportunities available on-demand to do so.
Imagine giving reps access to a resource where every “Eureka!” moment has been collected and can be replicated in their selling scenarios.
Peer-to-peer learning and collaboration is preferred over a paid actor or HQ instructor who may lack the perceived relevance of having “walked in their shoes.” Plus, you maintain control with a workflow that has content approved by you before pushing it to reps. Alerts about new courses make it easy to find, increasing proactive engagement.
Cloud-based Microlearning with a responsive interface removes the barriers of static learning in favor of a dynamic, interactive learning experience available just in time—not just in case.
Four Reasons to Embrace UGC for Sales Readiness
Ease bandwidth constraints: Marketing’s role continues to expand. With Forrester predicting that sales enablement will become a marketing responsibility for a majority of firms in 2020, incorporating informal learning into your sales training will reduce the time and effort marketers must allocate to fulfill this responsibility. Leadership boards tap into your sales reps' competitive spirit and the collaborative experience earns reps' attention. For sales managers, reps can choose to self-record a video and send it to a peer or mentor for feedback, lessening the managers’ coaching responsibilities without diminishing the learning necessary to retain talent.
Reduce spend on sales training: The 2019 State of Sales Training found that organizations spent an average of $2,326 per sales rep on training annually. Unfortunately, the report also found that organizations had trouble tying sales training to sales performance. More importantly, the study also found sales reps learn by watching their peers or asking them questions. Peer-created learning via video that creates a feedback loop is that the study also found sales reps learn by watching their peers or asking them questions. UGC via video that creates a feedback loop hits on both preferences. Content created by sales reps on their mobile devices and shared through your Modus Sales Hub is content that doesn’t need to be created, reducing spend on sales training.
Improve collaboration to increase sales: People learn better by observing and then doing. The beauty of video is that it shows reps—rather than telling them—what works and how to do it. When a sales rep has an “aha” moment or finds out something no longer works, they can simply record a video while the moment is fresh. By sharing it with the field they will help others capitalize on their discovery, clearing bottlenecks or avoiding inciting objections to keep deals moving forward.
Rewarding Reps for Creating Learning Builds Morale: The ability to add a comment before posting to encourage other reps to engage with the content can work wonders for validating your sales reps’ expertise, not to mention driving engagement. A simple, “Look how Tom nailed the new product pitch!” can make the difference between reps ingesting and retaining the learnings or just giving the video a cursory view.
Microlearning Accelerates Sales Readiness
You’ll find a variety of uses for just-in-time learning to help increase competence, skills, morale, and buyer alignment. And, you’ll be offloading some of the effort otherwise required to prepare reps to own the buyers’ experience to get sales done.