HighRevenue.pdf

    50 TD | December 2018

    SALES ENABLEMENT

    December 2018 | TD 51IMAGE | MICROSTOCKHUB/GETTY IMAGES

    P O D C A S T

    WAYS SALES ENABLEMENT WILL DRIVE REVENUE IN 2019

    The enablement team is a key part of business success.

    5

    52 TD | December 2018

    1 Support sustainment effortsTo outsell an equally armed competitor, sales organi-zations need more-effective selling behaviors. Moreover,

    this effort to sharpen skills must be ongoing. Consider that

    “mature companies spend 34 percent more on training and

    development than their less mature counterparts,” according

    to research from Bersin by Deloitte. These well-established

    companies understand that improvement is an ongoing

    practice. As a result, they earn a profit growth three times

    that of their competitors.

    Earning results like those requires sustainment. However,

    the problem is that sustainment is elusive. This challenge

    is best illustrated by the Ebbinghaus forgetting curve, whose

    downward sloping line represents how people forget infor-

    mation over time. Fortunately, researchers have discovered

    that diminished recall is preventable. The key is to make the

    information meaningful and more salient. Learners retain

    more information when they see the connection between

    the material and the sale—the greater the relevance, the

    greater the recall. Here is where sales enablement enters

    the picture.

    Enablement professionals help tie training lessons to

    real-world selling scenarios. They make concepts salient

    by working with L&D to align skills with corporate goals

    and customer needs. Enablement teams also work with

    sales leaders to develop a list of critical skills that resonate

    with today’s market.

    Having the appropriate resources is only half of the equa-

    tion. Sales professionals also must have a support team

    capable of isolating the material that matters by distributing

    assets that underscore how lessons from training connect

    with selling. These assets can include assessment tools,

    conversation guides, and client-facing collateral. When

    one group owns this responsibility, there is consistency

    across the organization.

    2 Bring efficiency to the onboarding processTime to productivity is a major influence on revenue, and sales enablement professionals are well placed to affect

    this lever.

    Sales enablement teams should have an in-depth understand-

    ing of buyer needs and sales best practices. They understand

    market-facing resources and how they align to the selling pro-

    cess. Therefore, enablement teams can play a more involved role

    in onboarding new hires.

    There was a time

    when the sales pro-

    fessional’s arsenal

    was a telephone

    and a list of con-

    tacts. Since then, technology

    has changed the game. Selling

    organizations now have access

    to nearly limitless data and out-

    reach capabilities. However, these

    tools often function like more

    pistons and valves on an already

    complex and noisy machine.

    According to the Accenture report Selling

    in the Age of Distraction, 59 percent of sales

    professionals say they have more tools than

    they can use. The researchers also found

    that sales professionals “are simply awash

    in more product data, competitor data, and

    customer data than they now can effectively

    absorb or use.” This challenge has given rise

    to one of the fastest-growing titles in sales

    today: sales enablement.

    Sales enablement professionals make

    information actionable. Enablement is

    about organizing decentralized infor-

    mation and leveraging resources to their

    fullest extent. These resources include

    digital tools, marketing materials, and,

    of course, people. Doing so leaves sales

    professionals unencumbered and free to

    pursue the next opportunity. Enablement

    teams deploy marketing collateral and

    selling tools to the appropriate sales pro-

    fessional; the strongest teams are those

    able to yield the greatest value from avail-

    able resources.

    Given that, these are the five new ways

    that sales enablement will drive revenue in

    the coming year.

    BY ANDREA GRODNITZKY

    December 2018 | TD 53

    Sales enablement professionals have experience with

    learning management system software, back-office systems,

    messaging, and overall strategy. By leveraging their experi-

    ence with sales and learning leaders, enablement professionals

    can build a tiered onboarding routine. The result is a layered

    approach in which foundational skills come first, followed by

    more specialized skills.

    New hires benefit because the sales enablement team com-

    municates with both sales and marketing. This exposure

    helps new salespeople understand more about the organiza-

    tion in less time.

    The pairing of new salespeople with sales enablement pro-

    fessionals is appropriate because the enablement team often

    tracks the use and effectiveness of materials among salespeo-

    ple. This insight gives the team a fast read on which practices

    and messaging move the sale. These measurements extend to

    win rate, quota attainment, contract value, and profitability.

    Enablement teams know what drives these numbers and un-

    derstand the best practices for compelling customers to buy.

    3 Develop talent from withinProductivity is about more than getting new sales pro-fessionals up to speed faster. It also relates to experienced

    sales professionals.

    Developing internal talent avoids the time and expense of

    sourcing external talent. Aberdeen data show that the aver-

    age cost of replacing a sales professional is more than $29,000.

    Moreover, the average training time is 7.3 months.

    Enablement teams are critical to avoiding these costs, be-

    cause they help internal sales professionals develop their

    skills. Doing so can develop an inside sales professional into

    a field rep or a field rep into a global account manager. Sales

    enablement teams can chart this path because they know the

    customer and product and where value lies. Therefore, they

    know how to support sales professionals with the messaging

    and skills that connect with buyers.

    A salesperson’s tenure with a company is connected to his

    sense of satisfaction. When someone feels that his actions create

    meaningful influence within the business, he is more likely to

    stay and thrive. Enablement teams become part of this process

    by helping sales professionals acquire new skills that make sell-

    ing behaviors more effective. As a result, sales professionals are

    more influential to the business.

    Bringing sales enablement and talent management together

    means companies are better able to yield the full value of re-

    sources within the company. They also are positioned to help

    inform the marketing team of emerging customer needs. Mar-

    keting can use these insights to develop new material that

    resonates with the marketplace. This routine underscores the

    value that sales enablement teams provide; communication

    between sales and marketing is a feedback loop. By developing

    talent from within, enablement teams create a bank of talent

    that makes the content meaningful.

    COMPANIES WITH A STRONG ENABLEMENT FOCUS GENERATE A 32 PERCENT HIGHER TEAM SALES QUOTA ATTAINMENT.

    4 Yield revenue from digital toolsSales professionals have an arsenal of tools

    at their disposal. In fact, they have so many

    tools that the challenge is often determin-

    ing which ones to use and how best to use

    them. More digital tools often leave sales

    professionals with diminishing returns.

    McKinsey researchers found that the “ma-

    jority of sales executives said that their

    companies are increasing their investments

    in digital sales tools and capabilities for the

    near term.” Despite this, the same study re-

    veals that less than 40 percent believe they

    are even moderately effective. Sales enable-

    ment teams can solve this problem.

    They communicate with the market-

    ing and sales teams. This ongoing dialogue

    enables the sales enablement team to un-

    derstand the macro- and microfocus. The

    marketing team watches broad industry

    changes. In contrast, sales professionals

    watch individual customers. By understand-

    ing these two sides, sales enablement teams

    can develop a shared list of capabilities.

    With this information, sales enablement

    professionals make informed decisions

    about which tools are relevant. They’re also

    54 TD | December 2018

    prepared to list measurements that both

    sides will accept. Enablement teams can

    use this information to decide which digital

    tools to use. The result is capabilities that

    are more in tune with the organization’s

    everyday needs.

    5 Draft and measure critical selling metricsSelling metrics are one of the sales enable-

    ment team’s vital responsibilities. Such

    metrics as quota attainment, win rate,

    and average deal size inform major busi-

    ness decisions. As the pace of competition

    increases, enablement teams need to be

    able to generate this information fast.

    Doing so enables sales professionals to

    outpace the competition.

    A formalized measurement process also

    simplifies today’s dynamic sales cycle. The

    SiriusDecisions State of Sales Enablement

    2017 found that 65 percent of respondents

    face an increasingly complex sales process.

    However, salespeople equipped with a sales

    enablement process are two times more

    likely to see reduced complexity in their

    sales process. This simplification comes

    from the fact that a single enablement

    team has ownership of the data.

    When enablement teams own the measurement process,

    they gain a broad perspective of the business—they’re able

    to understand cause and effect. The net result is a more

    insightful view of which selling behaviors and marketing

    materials compel customers to buy. Enablement teams

    focus on more than measurement—they focus on meaning.

    By interpreting the analytics, the enablement team can

    release the right tools or message at the right point in the

    sales cycle.

    As this cycle becomes more complex, this capability is

    increasingly important. For example, as a sales professional

    works to build consensus among stakeholders, the sales enable-

    ment team can be effective in sharing various marketing assets.

    An effective enablement professional will ensure that each of

    these pieces addresses each stakeholder’s unique perspective.

    TakeawaysMarketing and sales teams are not enough. Winning the sale

    today means companies need professionals who can drive

    more from those two groups. The sales enablement team ful-

    fills this role by optimizing both teams’ capabilities.

    For this reason, sales enablement has become a critical

    function in sales organizations. Aberdeen research shows that

    companies with a strong enablement focus generate a 32

    percent higher team sales quota attainment. These organi-

    zations also generate a 23 percent higher conversion rate.

    Simply put: Enablement keeps the wheels greased.

    Though many companies have a sales enablement function

    in place, success comes from knowing how to focus that tal-

    ent. Selling organizations can do so by asking themselves

    five questions:

    • How can my enablement team ensure that sales profes-

    sionals retain the skills they have learned?

    • What materials can the enablement team supply to new

    hires so that they can be up to speed faster?

    • Where do existing sales professionals need assistance in

    enhancing their productivity and building their careers

    internally?

    • When in the sales cycle are digital tools helpful, and how

    can we maximize our return on investment?

    • Which sales metrics reveal our progress toward company

    goals?

    Answering those questions gives organizations a way to

    build the efficiencies that are integral to winning the sale.

    Efficiency is essential to succeeding today because technol-

    ogy is putting organizations, large and small, on a more even

    playing field. Thus, success doesn’t come from having more

    technology—it comes from the ability to use technology in

    more meaningful ways. Sales enablement is the function

    making that approach possible.

    Andrea Grodnitzky is chief marketing officer for Richardson, a global sales training and performance improvement company; [email protected].

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