The sales training market looks a lot different than it did a decade ago, and even five years ago. Today, sales training is by and large a technology-enabled sector of the corporate training market, with everything from mobile coaching solutions to customer relationship management (CRM)-integrated tools available to help sellers close more deals.

As buyer expectations and needs evolve, it’s perhaps unsurprising that investment in sales training is predicted to increase by 11.8% in 2023, with the top five industries sourcing sales training being technology, manufacturing, banking and finance, business services and consulting, and pharmaceuticals, according to Training Industry research.

Founded in 1979, Richardson Sales Performance (“Richardson”) has long been a key player in the sales training market, proving its ability to keep pace with advancements in technology and other shifts. In July, Truelink Capital (“Truelink”), a middle market private equity firm, announced its acquisition of Richardson, further establishing Richardson as a leading sales training company.

Let’s consider the acquisition in more detail.

A Mutually Beneficial Transaction

Truelink’s acquisition of Richardson benefits both companies. Truelink targets companies in the technology-enabled services sector, so Richardson’s technology solutions, as well as its breadth of content, global footprint and client portfolio, were appealing, says Andrea Grodnitzky, Richardson’s chief marketing officer.

Truelink takes an operational approach to help companies adapt, meet current landscape challenges and grow, “and that’s really how they intend to support Richardson,” Grodnitzky says.

The acquisition also means that Richardson has the resources to continue growing its global reach through M&A activity, which Grodnitzky says will be a focus area for the company moving forward.

The Competitive Advantage(s)

Richardson’s competitive advantage lies in three key factors: its technology, its content and its global reach.

• • Technology: The company’s range of technology-enabled solutions allows it to reach customers where they are. Its Accelerate Workflow Tools integrate directly into a CRM and allow sellers to rate opportunities, set goals, and receive real-time recommendations and coaching. And QuickCheck™, Richardson’s mobile sales training reinforcement solution, works to sustain learning over time.
  • Content: Richardson built its Connected Selling Curriculum™ so that its content “works together and builds upon each other across roles and capabilities,” Grodnitzky says. Because selling is “a human-to-human interaction,” the curriculum is rooted in behavioral science, which helps to drive behavior change.
  • Global reach: Richardson operates in multiple markets worldwide, including in the U.S., Europe, Middle East and Africa (EMEA), Latin America (LATAM), Asia Pacific, Australia and New Zealand (APAC) and Canada (CA).

Combatting “The Big Disconnect”

Too often, organizations invest in sales training that is generic and “disconnected from the world that their reps live in” — a challenge that Grodnitzky refers to as “The Big Disconnect.”

To combat this challenge, Richardson is focused on three priorities: developing more adaptable content; offering technology-enabled learning solutions that are engaging, easy to use and accessible in the flow of work; and delivering more visible progress (e.g., tracking key performance indicators and other learning metrics and “serving those up to customers”), Grodnitzky says. Focusing on these areas will help Richarson deliver more effective, relevant sales training that drives results.

Future Plans

Looking ahead, Grodnitzky says that Richarson is excited to keep working with Truelink to grow and innovate its offerings. In addition, “There’s opportunities for Richardson to make some strategic acquisitions that can not just help us grow but help us bring a better solution to our customers.” This may mean looking at companies leveraging artificial intelligence (AI) as well as companies specializing in supporting broader revenue teams, which would help Richarson extend its reach and position it for future success.