Right from its introduction, sales enablement managed to create a stir in the market and since then has been a hot topic as it aims to augment the sales processes and amplify the end results. In this blog, I'll discuss everything you need to know about sales enablement, so let's jump in.
What is Sales Enablement?
We all are familiar with the 4-tiered sales funnel - Awareness, Consideration, Decision, and Purchase. The first 2 stages are attributed to marketing and the last 2 stages to sales. This is being transformed by sales enablement, a continuous strategic process that enriches sellers with the right tools, skillsets, and assets they need in order to enhance buyer experience and engagement, skyrocketing the company revenue.
“As per an annual report from CSO Insights, the sales enablement programs resulted in a 15% increase in the win rates.”
From providing the sales team with all the right and necessary resources, including content, mentorship, and assistance they need to engage potential buyers, to giving them data-driven insights for the optimization of their business’ revenue, sales enablement aligns these resources and actions to drive efficient sales operations. These allocated resources can be analyzed in terms of ROI and profitability - checking whether or not the desired results were achieved. However, it’s important to note that sales enablement is not only about giving out the right resources but guiding the sales team as to when they should use them. This is done by identifying the highest performing content to eventually close the loop between Customer - Sales - Marketing.
Sales Enablement Categories
“More than 75% of businesses have reportedly seen higher sales, out of which 40% of the companies have noted a growth of over 25%.”
Based on what resources are leveraged, sales enablement has been categorized into the following. Companies are free to use either 1 or all of them:
- Content-based Sales Enablement: It refers to equipping sellers with targeted assets which might result in the enhancement of sales conversations with potential buyers. It helps you unleash the power of your otherwise scattered content.
- Technology-based Sales Enablement: It refers to providing the tech sales reps need to improve their sales performance.
- Training-based Sales Enablement: It refers to providing the sales team with training and guidance that will help them improve their sales quota achievement graph. In fact sales leaders have reported a 14% shorter average sales cycle on providing deal-specific mentorship.
- All-In Sales Enablement: For the organizations that practically implement all the aforementioned categories, they follow an “All-In Sales Enablement” path. These types of organizations are bound to outrun their competition in terms of sales performance.
How Will It Help Me?
Around 45% of top-performing companies believe in prioritizing the personalization of sales conversations.
The term “Sales Enablement” has been used rather vaguely over time and it’s not as much about the sales as it is about the buyers - it’s more like equipping the sales team with what the buyer wants.
Like I said, “It’s all about the buyers” and that’s what will get them to convert.
With its analytics part, the sales reps can identify the right content and then leverage it by placing it appropriately throughout the buyer’s journey. Equipping your sales rep with “The Assets” will, obviously, help them sell more effectively. It helps you improve customer conversations and win more deals as you optimize your sales strategy on the go leading to better client interaction and a satisfying user experience.
According to a report by Aberdeen, companies with a robust Sales Enablement program have managed to acquire a 23% increase in their lead conversion rate.
The bottom line is that the sales team is the spinal cord of a company and equipping them with the right resources will act as a step towards unlocking immense future growth opportunities.
**All stats are taken from Aberdeen - a fact-based business intelligence research.
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