Sales Coaching Software Market

Sales Coaching Software Market (2022 to 2032)

[300 Pages Report] The sales coaching software market is expected to record a CAGR of 6.4% during the forecast period 2022 to 2032, up from US$ 47.6 Billion in the year 2022 to reach a valuation of US$ 88.7 Billion by 2032. From 2021 to 2022, the industry is poised to document a Y-o-Y growth rate of 8.4%, increasing from its previous valuation of US4 43.9 Billion.

Organizations build the necessary skills to maximize the level of sales performance through the adaptation of various skills development programs and workshops that are created by the business in order to uncover new ways for growth and build pathways for a sustained market share.

AI can be used to evaluate conversations and identify when sales representatives are struggling to discuss a solution or talking about key topics, prompting other talking points based on the evidence. In a remote working environment, coaches can provide effective coaching with the help of software. The software records video and audio of meetings, so managers can re-watch those meetings from around the world and still offer helpful advice, to their representatives in the organizations.

Even though some tools are specifically designed to be used as sales coaching software, some sales software solutions can do the job of upskilling or coaching sales professionals as part of a comprehensive sales enablement solution. By leveraging artificial intelligence, sales reps can offer upsells to their engaged contacts and handle tricky scenarios with ease. In addition to collecting valuable sales data, these tools rate reps based on how well their calls match up with successful templates, such as the talking/listening ratio, the focus of their conversation, and the length of the call.

What is Driving Market Growth of Sales Coaching Software?

A sales coaching program provides coaching through a variety of features including real-time feedback, analysis of customer interactions, and the signaling of upselling and close opportunities. To meet that demand, such tools are becoming increasingly popular in the market for sales coaching software, thereby raising the prospects for the market's future growth. The product would be further optimized and advanced using the latest technological innovations and advancements, making it suitable for a wide variety of industrial and commercial applications.

In addition, organizations are becoming more inclined to use digital coaching tools, and their desire to improve long-term business prospects has contributed to the growth of the sales coaching software market. Employees can use this software if they wish to view the past communications of a client to comply with the growing demand for reviewing past conversations. As technology advances and artificial intelligence (AI) is aiding live feeds to make performance evaluations more objective, there is a growing demand for sales coaching software in various parts of the world.

Managers and salespeople can collaborate and analyze emails and phone calls using sales coaching software. Improved sales close rate, improved sales techniques, and the setting of best practices can be achieved by this training. The use of sales coaching and feedback can benefit everyone, from aspiring salespeople to talented professionals. In addition, the ramp time of a sales team can be shortened with the help of sales coaching tools since they enable them to identify areas for improvement quickly.

Software designed for sales coaching allows teams to align their approach and messaging when interacting with clients. In addition, the expected growth of the sales coaching software market can be attributed to the growing acceptance of digital coaching technologies among organizations, as well as the need to ensure long-term sales success.

Businesses can improve the effectiveness of their sales cycle by tracking deal risks, tracking adoption, and identifying the next steps with AI-based insights. As a key to business success, it is essential to strengthening learning through systematic and continuous learning. Developing sales training programs with sales coaching software can help with these initiatives. Keeping training concise can make it easier to spread them over a long period by breaking them down as needed.

Managers, executives, and sales coaches can work together to identify actions sales professionals need to implement and manage to develop their sales skills. In addition, to call tracking and web conferencing, software integrations also include sales performance tracking and CRM systems. By integrating data from your sales coaching software and existing systems, a business can know its customers better.

Challenges to Sales Coaching Software Vendors in the Global Market?

Coaches are capable of helping the sales team to develop both their skills and confidence. Onboarding will improve, turnover will be reduced, sales will rise, and revenue will be boosted. With ongoing sales coaching software, the return on investment will increase. The impact will vary according to the ability of the coaching software. The efficacy of coaching sessions will increase as employees gain more experience dealing with challenges.

Sales training programs have virtually no chance of producing lasting results if they fail to analyze the real learning needs of their team. If businesses are not aware of what skills the team already has and where their weaknesses lie this will hamper the growth of the software that's relevant to them and is expected to hamper sales in the market.

Many sales training programs fail to teach employees how to move prospects through the funnel systematically. Training is easily forgotten without a systematic approach, and salespeople waste a lot of time and effort reinventing themselves. All these factors have hampered the growth of the market.

Sudip Saha

Principal Consultant

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Category-wise Insights

Which type of Sales Coaching Software is expected to grow the Fastest?

Cloud-based Sales Coaching Software to witness Maximum Uptake

Demand for Cloud-based sales coaching software is predicted to grow at the fastest rate during the forecast period. Cloud-based sales coaching software is projected to grow at a CAGR of 6.1% during the forecast period. The market is in the process of integrating new technologies to keep track of all the activities associated with all the sales that are being carried out. The market is adding AI and cloud-based sales coaching software into its product offering.

Cloud-based coaching software empowers coaches with the ability to manage clients' data in a centralized location, from client training plans to training histories, and much more. Clients can also receive automated updates on their performance via emails or text messages. To offer highly personalized care management strategies, a host of companies have integrated machine learning algorithms. The market is also growing in part since companies are delivering real-time information via online channels, including smartphones and tablets.

By Application, which Sales Coaching Software Category will be the Star Performer?

Large Enterprises to be the Primary Application Area for Sales Coaching Software

Based on application, the large enterprise segment is projected to have the largest market share during the forecast period. It is anticipated that the market will increase at a 5.8% CAGR during the forecast period.

As part of the continuous training provided by sales coaching software, multiple features such as exclusive feedback from observers, upsell/close opportunities, and evidence-based conversations are available. Consequently, the industry is growing up along with the prominence of such applications in the market.

Regional Analysis of the Market for Sales Coaching Software

North America to Witness Highest Demand for Sales Coaching Software

As the sales coaching software market is expected to grow, North America is expected to have the largest share of the market during the forecast period. This region is focusing primarily on providing flexible working hours to its employees which ultimately drives these companies to implement coaching tools such as SaaS to grow in the market.

The market for the USA is projected to grow at a value of US$ 31.5 Billion with a CAGR of 6.2% during the forecast period. The USA holds the largest market for tech development and sales businesses in the online market. Growing demand for these businesses has significantly raised market demand for this software the market. A growing regional market is also attributed to significant IT investment, technical advancements, and adoption of new technologies early on in their development. Large, medium, and small companies in the region are investing heavily in sales coaching software to maximize employee skills, and income and maintain market position.

The rapid digitalization of business activities has changed the dynamic of business processes over the last few years. Sales-related activities are streamlined and businesses are seeking effective solutions that can help them close leads faster and better performance to maintain client relations in the market.

Developing New Technologies and Expanding Online Commerce to propel the Asia Pacific Market

The Asia-Pacific market for sales coaching software is expected to grow the fastest during the forecast period, followed by Europe. Asia-Pacific is projected to be the region to see increased demand for sales coaching, due to a growing need for customer service and training.

China accounts for 5.9% of revenue growth in the region. In addition to technological advancements, the expansion of IT firms in many developing nations has created a demand for sales coaching software sales. Growing online e-commerce businesses and retail sales are creating a market for sales coaching software in the market.

Over the forecast period, Japan is projected to achieve a CAGR of 5.2% in 2032. Demand for cloud storage systems and the increase of SMEs in this region are expected to support sales of cloud storage systems in this region. South Korea's market is expected to flourish at a 4.3% CAGR in the coming years. In addition, sales coaching software is becoming an increasingly popular tool to ensure customers experience an enhanced level of service, which presents an untapped opportunity for the sales coaching software market.

UK Accounts for a Large Share of SaaS Adoption in the market

With flexible working hours, efficient business management practices, and reduced costs for organizations, the UK region is expected to have the third-largest share of the market over the forecast period. These factors will lead these organizations to adopt coaching software in the market.

The UK sales coaching software market is expected to grow at a compound annual growth rate of 5.4% over the forecast period. In addition, advances in artificial intelligence and the Internet of Things will lead to a greater demand for skill development and evaluation of employee performance in the market.

As the need for better customer services increases, cloud-based storage services and the integration of AI and ML will be of even greater importance. Due to the growing use of cellular devices and improvements in network access, consumers and businesses in the UK have become more reliant on customer-centric businesses that are strengthening the market for sales coaching software.

Competitive Landscape of Sales Coaching Software

Through strategic partnerships, manufacturers can increase production and meet consumer demand, increasing both their revenues and market share. The introduction of new products and technologies will allow end-users to reap the benefits of new technologies. Increasing the company's production capacity is one of the potential benefits of a strategic partnership.

• In August 2021, Mindtickle raised an additional US$ 100 Million in a Series E round of funding led by SoftBank Vision Fund II, as foreign investors continue to pour money into India's burgeoning tech industry. In this deal, the Pune-based software company became the 20th unicorn of the year, valued at US$ 1.2 Billion. These startups have an estimated worth of more than US$ 1 Billion each.
• Training and coaching platform Lessonly has been acquired by sales enablement platform Seismic in September 2021. In addition to marketing and sales content, the company will provide sellers with training programs, coaching plans, and practice situations all in one place. Furthermore, a US$ 170 Million Series G funding round was closed in conjunction with this acquisition. Through this round of funding, the company's valuation has been increased to $3 billion.
• In January 2022, Coaching.com, the premier digital publisher of premium education programs led by globally recognized coaching experts, acquired the World Business and Executive Coach Summit (WBECS). WBECS is the world's foremost learning event for professional coaches, as well as the world's leading education platform for finding, tracking, managing, and evaluating coaches. Combining these teams and companies creates a powerful coaching machine that offers a unique value proposition. Through a powerful technology platform, coaches will be able to manage their practice, access world-class learning content, and be discovered by new individuals and clients.
• In January 2022, a company called Second Nature, one of the world's leading AI-based sales coaching service providers, announced that it has closed a US $12.5 Million Series A round of funding. Zoom Video Communications, Inc. led the Zoom Apps Fund with signals Venture Capital, StageOne Ventures, and Cardumen Capital. It has been reported that the total amount raised by the firm for its Series A has now reached US$ 15.5 Million.
• In February 2022, Perceptyx, a pioneer in AI-powered leadership development, acquired Cultivate, the leading employee listening, and people analytics platform. As a result of the agreement, Perceptyx's active listening and feedback platform will be combined with Cultivate's leading digital coaching and passive listening products, creating a valuable employee experience that closes the gap between signal and action.

By Key Players

• Conga
• SalesLoft
• LevelEleven
• Brainshark
• Chorus.ai
• Lessonly
• Chorusai
• MindTickle
• Showpad Coach
• Outreach
• Lessonly
• ExecVision

Key Segments Covered in the Sales Coaching Software Market Study

By Type:

• Cloud-based
• Web-based

By Application:

• Large Enterprises
• SMEs

By Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America