Peloton is a tech / fitness company launched in 2012 and is reportedly now approaching an $8 billion evaluation. In addition to being wildly successful, they’re the first company to break the SoulCycle cult, surpassing their active users in Q4 2018.
But why are we talking about it?
Because you can learn a lot about your sales training program by looking at how Peloton captures the attention of hundreds of thousands of cycling enthusiasts.
Why Peloton-ize your sales training program
First, let’s get a better idea of what Peloton is.
This is your traditional indoor cycling experience:
Peloton is different.
It looks like this.
The Peloton is a state of the art, indoor spin bike equipped with a screen that can stream thousands of live and on-demand spin classes and tracking your progress metrics in real time. People can engage in a spin class-esque environment directly from their home, while being pushed and encouraged by coaches and leaderboards in real time.
Now, given that Peloton isn’t actually a cycling studio, they needed something else to drive the engagement most your sales training program can probably only dream of.
That secret sauce really comes down to three things:
- They have an enormous amount of data
- Which they use to personalize the experience
- And make the whole thing social
Let’s dive deeper to see how they map to your sales training program.
1. Set the Right Goals & Measure the Right Metrics
When you’re Peloton-ing, metrics like your riding speed, calories, output, and mileage all scroll continuously on your screen, and the leaderboard on one side shows how you’re doing compared to others.
The screen shows you how fast you’re going, the bike’s resistance level, and your ranking in the class in terms of output.
And this last bit is one of the best parts of the Peloton bike vs taking a studio class.
In a studio, there’s no accurate way to track your performance since there’s no screen on the bikes. This means you could end up slacking by pedalling the same amount at a lower resistance level.
For enablers running sales training programs, this means tracking output rather than just tracking your inputs like sales training program attendance, content consumption, and quiz completion.You need to know how to measure training effectiveness metrics.
You should also be measuring the performance and impact of those programs.
For example, you should be measuring sales outputs like how many meetings get booked, how much pipeline gets generated, and ultimately, how much revenue a rep closes.
If you don’t incorporate the outputs you want (pipeline, revenue), into the sales training program itself, it makes it much more difficult to understand if its working or not.
2. Personalize your sales training programs
The Peloton app has different classes that you can filter by difficulty, class type, music style, and even class length.
Every time a rider interacts with their Peloton bike, information is gathered that fuels future interactions in a massive data feedback loop.
The company is paying attention to what songs riders like, which instructors they prefer, what type of workout they gravitate toward and what ratings they give individual classes.
Peloton then uses that data offer a personalized experience to each rider, with song, instructor, and class recommendations.
Your sales training program should be customized and personalized as well. Start simple with having specific programs for different roles, then expand into different segments. Then, get even more personalized with programs by pipeline size / type and just-in-time training by opportunity attributes including stage, product, or competitor.
3. Make your sales training program Social
If you are streaming a live Peloton class, your username is added to a leaderboard on the side of the screen, meaning the instructor can shout out your name to motivate you.
During live classes – in which instructors and riders alike can track participants’ progress up an down the leaderboard – a community of virtual friendship develops. Instructors in New York can acknowledge a rider in Boise, Idaho, by name, encourage them to pedal a little faster, and congratulate them on taking their 100th ride or riding 20 days in a row.
You can set up leaderboards as well to create a shared understanding of progress and give your team a chance to celebrate wins and identify reps who need extra help. You can also incorporate peer to peer learning, feedback, and coaching by integrating any social collaboration tool (Slack, Chatter, etc.) within the sales training program flow.
The Peloton app has different classes that are filterable by difficulty, class type, music style, and even class length.
Every interaction a rider has with a Peloton bike is collected as data that feeds the experience. The company is paying attention to what songs riders like, what instructors they prefer, what type of workout they gravitate toward and what ratings they give individual classes. Peloton uses that data to compare rider profiles and suggests (and creates) better, more targeted and personalized content.
Your sales training and enablement programs should be customized and personalized as well. Start simple with having programs by role and segment, and then get even more personalized with programs by pipeline size/type and just-in-time training by opportunity attributes including stage, product and competitors.
Your sales training, enablement, and onboarding programs should be tied directly to the performance outcomes and business impact in your CRM.
And this starts by getting your team and sales training program the executive attention it deserves.
William Lynch, Peloton’s CEO, notes that it’s members currently work out 11 times a month, up 27% from last year. “That’s unheard of, compared to about 2 times a month for the average gym,” Lynch said. “So it’s this really immersive experience and we think it’s the best deal in fitness”.
So how can enablement teams achieve the same level of engagement? We think its’ the same secret sauce as Peloton:
- Measure your sales training program from inputs all the way through to outputs.
- Personalize the content and experience for your reps.
- Make your sales training program social (after all, when did you last meet a non-competitive rep!?)
If you can embrace these tenants, you can make your sales training program immersive, impactful, and drive ROI.