MarketBridge - Sales Training Practice of the Year
Company: MarketBridge, Bethesda, Maryland
Company Division/Group: MarketBridge
Company Description: MarketBridge is a leading consulting agency specializing in marketing and sales enablement. MarketBridge works with Fortune 1000 organizations to plan, develop and execute sales training programs and incentives to help drive employee motivation and participation, improve knowledge retention and drive bottom line business results.
Nomination Category: Solution Provider Awards Categories
Nomination Sub Category: Sales Training Practice of the Year
Nomination Title: MarketBridge
Tell the story about what this nominated organization has achieved since the beginning of July 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
MarketBridge is a leading consulting agency specializing in marketing and sales enablement. MarketBridge works with Fortune 1000 organizations to plan, develop and execute sales training programs and initiatives. MarketBridge is entering the Sales Training Practice of the Year category for its Credit & Loyalty Sales Training Programs that include a multi-channel training approach with instructor-led in-person training, a variety of distance support tactics, and incentives.
“Last year I wasintimidated by opening credit cards. With your tips, trainings, and passion for everyone’s success, I was able to embrace credit. I still remember like it was yesterday when I first talked to you about how hard it was for me, but you truly made me realize it’s easier than you think! Your passion and enthusiasm are greatly appreciated.”– Associate
-“We delivered the #1 result in the company because of the confidence you built with the team. Thank you for the great visit and week!” – Assistant General Manager Operations
-“I received a lot of positive feedback from Managers about how effective the training was and that they would welcome doing this again.” – Assistant General Manager
-“Malik opened 9 Accounts since yourcoaching session in the Spring.” – Manager about an Associate
-“We’re doing well because we have MarketBridge instructor-led classroom trainings.” – Operations Manager
-Associate credit participation is up 22.1% from last year and up 45.7% from last retail season (i.e. the number of Associates that are getting involved in promoting credit is rapidly growing!)
-Performance is up 4.1% over last year (we’ve been training in these stores for several years, so we’re competing against ourselves!)
-Post-visit training impact in Stores receiving virtual instructor-led training improved an average of 59%
-Our incentive programs drove store results, varying from 108% to 122% to plan
MarketBridge Comprehensive Training Tactics
Classroom Trainings: Interactive training classes led by MarketBridge Account Executivesthat include hands-on activities, role playing, pre- and post-assessments, takeaways, etc.
Floor Trainings: Bite-sized iPad eLearning activities (built in Articulate Rise) and mini training games designed for quick coaching while Associates have downtime on the sales floor
eLearnings: Digital classroom modules and mobile-friendly training modules (built in Articulate 360) that include activities and knowledge checks to teach important topics such as New Hire training, Pitching & Objections, etc.
Playbooks: Quick, easy-to follow “manuals” complete with lesson plans, activities and takeaways designed to equip Managers with the tools to continuously train and motivate their team
Incentives: Fun, creative motivation drivers to improve Associate performance (e.g. grab-bags, raffles, recognition awards)
Tracking and Reporting
One of MarketBridge’s key differentiators is its reporting capabilities. Equipped with a full Analytics and Business Intelligence team, our partners receive detailed reporting and results on a weekly cadence. Common metrics include:
-Impact of training visits on results
-Duration of training visit impact
-Month-over-Month and Year-over-Year credit card application performance
-Usage trends of current credit cardholders
-Associate participation (number of Associates processing applications)
-Store-by-store performance and ranking
Challenge: One of the retail partners MarketBridge supported had several stores that were unable to receive in-person training and were also faced with increasing Associate turnover. MarketBridge identified the need for additional distance-based training that could provide timely coaching to new hires and motivate stores outside of in-person visits.
Solution: MarketBridge created a specialized training plan to test in six stores that included virtual instructor-led training sessions.
Benefit: By collaborating with Store Management to understand the stores’ unique challenges, MarketBridge was able to customize content and provide store Associates with the information needed to build knowledge and confidence with credit. Plus, a virtual classroom enabled MarketBridge to engage with twice the number of Associates while effectively negating trainer travel and the Associated costs.
Results: Post-visit training impact in stores receiving virtual instructor-led training improved an average of 59%, with one store nearly doubling their performance at 99%.