Boost Sales Productivity through Sales Enablement

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    22-Jan-2018
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Transcript of Boost Sales Productivity through Sales Enablement

  1. 1. Technology continues to drive major industry disruptions and thanks to open access, it is becoming more affordable. To o l s l i k e C R M a n d M a r k e t i n g Automation are being deployed faster t h a n e v e r , b u t b e h i n d t h e s e technologies, there is an engine that makes it all work: Sales Enablement! While organizations are building out their sales teams and chasing more aggressive sales goals, they are not necessarily scaling their processes, best practices, training, onboarding and sales tools effectively, resulting in a lack of focus and widespread decline in sales productivity.
  2. 2. Sales Enablement comes into play to empower and retool sales management and reps to work more effectively and efficiently.
  3. 3. S a l e s p r o d u c t i v i t y i s a challenge for almost every B2B organization. The pressure to meet or surpass r e v e n u e g o a l s i s o n l y increasing, with over half of sales teams expected to meet revenue goals that are at least 20% higher than the previous year. Forbes
  4. 4. SALES ENABLEMENT?
  5. 5. A strategic, cross-functional discipline designed to increase sales results and productivity by providing integrated content, training and coaching to salespeople and sales managers throughout the entire customers buying journey, powered by technology. CSO Insights
  6. 6. Aligning marketing processes and goals, and then arming sales with tools to improve sales execution and drive revenue. The Pedowitz Group
  7. 7. Getting the right information into the hands of the right sellers at the right time and place, and in the right format, to move a sales opportunity forward. IDC
  8. 8. OBJECTIVES
  9. 9. Initiatives focused on ensuring that the right people are on the bus at the right time. In addition, sales enablement involves keeping all of the seats on the bus f i l l e d , s o t h a t t h e s a l e s organization is operating at full capacity. The goal here is clear: Hire the right people, for the right jobs at the right time. RECRUITING AND HIRING THE BEST POSSIBLE SALES FORCE.
  10. 10. Once the right salespeople are onboard, a lot of effort is focused on improving their skills and knowledge to enable better and more consistent execution of key activities. Sales enablement ensures the business is delivering the right training content, effective learning tools, coaching programs and performance improvement plans. The goal is simple: continuously improve the sellers ability to sell. TRAINING & COACHING
  11. 11. Whether it is CRM, Marketing Automation, Contract Management, Intranet Portals, or other selling aids, a good sales enablement team outfits their teams with the right set of tools to collect, structure, process, and report critical business information. Sales Enablement also provides Content Libraries, Battle Cards, Supporting Materials, Case Studies, Applications and other tools that equip their sales team to more effectively collect, structure, process and report. Whether high-tech or old school, the goal is to outfit the sales team with relevant content, supporting materials, technology and other required tools to sell more effectively. EQUIPPING THE SALES FORCE WITH THE RIGHT TOOLS.
  12. 12. These activities are designed to measure how well the sales teams and managers are performing. From day-to-day metrics like sales calls and proposasls to more extensive quarterly qualitiative and quantitative objectives. The goal is to measure, analyze and provide timely feedback with regards to individual and collective team performance and results. ASSESSMENT
  13. 13. Only one-third of sales reps meet or exceed quota, and only 10 percent are consistently high- performers.
  14. 14. 7 Signs You Need Sales Enablement
  15. 15. 1) LONG ON-BOARDING TIME Onboarding is intended to quickly get reps up to speed. Unfortunately, it takes about 7 months and almost $30,000 to recruit and onboard a new salesperson and 87% of training is forgotten within weeks. The Sales Enablement Solution With the right tools in place, an organization can decrease ramp- up time by 30-40% while increasing productivity and reducing mistakes. Sales enablement tools further empower your sales team with content and just-in-time sales guidance, enabling them to learn about complex products and services quickly, and with a level of knowledge deep enough to make the sale.
  16. 16. 2) LACK OF PRODUCTIVITY Sales productivity is the #1 challenge for almost 65% of B2B organizations, according to The Bridge Group. Sales team productivity has a direct and significant impact on revenue. The Sales Enablement Solution Less than one-third of a reps time goes to core selling. Time spent on unproductive, repetitive and manual tasks is time spent not selling. Any process you can automate saves time that reps can employ on core selling activities. For example, a CRM can simplify sales processes and automate workflows, increasing productivity by 32%
  17. 17. 3) ONE-SIZE-FITS ALL APPROACH TO SELLING Todays B2B sales environment requires much more than simply pitching products. Instead, buyers expect an individualized purchase process and a solution that takes into consideration their unique needs, challenges and priorities. It is important to understand your customer and how to tailor the sales process for relevance and value, a task that over 40% of sales reps are unable to do effectively. The Sales Enablement Solution Personalization has become a scientifically-driven approach that matches content, messaging, and sales strategy based on factors such as persona and stage in the buying process. A sales enablement tool should use predictive analytics to proactively recommend next steps by sales situation, customizing and adding value to the buyer experience.
  18. 18. 4) SLOW OPPORTUNITY PROGRESSION The longer a prospect is stuck at a particular stage in the pipeline, the less likely it is they will advance and eventually close. Sales reps must create a compelling case for change and highlight the impact of not taking action (i.e. the cost-to-delay the benefit). The Sales Enablement Solution Tools such as playbooks and battle cards guide sales reps and provide helpful content that can be used effectively in their customer engagements. With just-in- time coaching, you can ensure reps have the guidance they need to further the deal. Collateral such as talk tracks and persona-based selling tips, can be instantly accessible to reps for any sales situation.
  19. 19. 5) DEALS ARE CLOSED LOST WITH NO OFFICIAL DECISION Studies reveal that 25-50% of forecasted deals end in no decision. The Sales Benchmark Index reports that 58%of these stalled deals are lost to the status quo, i.e. its easier to do nothing. The Sales Enablement Solution One of the best ways to override the status quo, is to demonstrate value. B2B buyers look for partners who understand their business and pain points. Sales teams that challenge and engage prospects are 2X as likely to reach their quotas. Sales enablement tools recommend how to build or use a business case, helping reps to engage prospects with relevant, value-add collateral that can advance the deal.
  20. 20. 6) UNUSED MARKETING CONTENT An IDC survey found that 90% of marketing content and resources are never used, and 88 percent of missed opportunities were impacted by sales access to relevant internal resources. Furthermore, sales reps spend up to 30% of their time looking for or creating content to share with prospects. The Sales Enablement Solution When 95% of B2B deals are influenced by content, reps must know what content to use and when. A sales enablement tool uses real-time data to determine what content is most effective at progressing deals and generating the highest ROI and suggests relevant content. This allows sales reps to deliver the right message at the right time, keeping them focused on sales objectives.
  21. 21. 7) BLURRY INSIGHT INTO WHAT WORKS AND DOES NOT Studies from CIO Insights have found that making decisions without data impacts sales, with 40% of survey respondents indicating that limited visibility into data hurts sales performance. A data-driven sales strategy is about decreasing costs, boosting productivity, optimizing effectiveness, and driving revenue. The Sales Enablement Solution Organizations that use sales analytics increase quota attainment four-times faster than non- users. Sales enablement technology uses predictive analytics to determine how to message and who to message, and then helps to replicate those best practices across the organization. These insights enable the entire sales team to operate at a high-level by helping reps understand what factors impact their successes, how to deliver relevant content, and what changes will improve performance.
  22. 22. OTHER POTENTIAL SALES ENABLEMENT FUNCTIONS There are multiple factors impacting sales performance, so make sure that your Sales Enablement Strategy is thorough in assessing what is included and excluded within your Sales Enablement Scope. Other potential responsibilities may include: Internal Sales Contests Compensation Program Performance Based Bonus Assessments CRM and other Applications Administration Remember Sales Enablement is NOT Sales Management
  23. 23. IN SUMMARY. HOW DOES SALES ENABLEMENT ADD VALUE?
  24. 24. CONNECTING SALES TEAMS WITH THE MOST RELEVANT CONTENT FOR EACH OPPORTUNITY ACCORDING TO STAGE IN THE SALES CYCLE
  25. 25. ENABLING SALES TEAMS WITH THE TRAINING THEY NEED AND MEASURING THE EFFECT ON BOTTOM LINE RESULTS
  26. 26. TIMELY ALERTS AND COMMUNICATION DELIVERED TO THE SALES TEAMS (CONTENT ALERTS, PRODUCT NEWS, ETC.)
  27. 27. EMPOWERING MANAGERS AND PEERS TO COACH REPS TO GUIDE, REINFORCE AND PROMOTE BEST PRACTICES
  28. 28. PROVIDING FLEXIBLE WA