Sales Enablement can change the growth story of your company boosting revenue by at least 20%. Here’s what you need to know.
Sales enablement has been an integral part of growing companies, especially in the latter half of the decade. Organisations have been subscribing heavily to the concept of an enablement team purely because of its conversion potential.
Even though the idea is almost a buzzword nowadays, it’s still widely misunderstood. There’s a lack of clarity on what sales enablement actually is and how it impacts the overall KPIs. And believe it or not, this murky distinction hurts the potential that sales enablement could have.
We’ll be clearing the fog and shedding some light on what sales enablement in reality is & why it is an absolute necessity in today’s conversion-focused business environment.
How to define sales enablement?
Sales Enablement is a term loosely used in the context of an overlap between VP of sales & sales manager, which is somewhat true but not entirely.
By definition, it is a strategic placement that focuses on increasing the numbers and productivity of sales teams by providing tools, content, and resources across the buyer’s journey.
Of course, this is an immensely broad definition of sales enablement, presented just to give you an outline. It’s way more nuanced than this. Here’s what sales enablement teams do on an average day:
A day in the life of a sales enablement team
The role of Sales Enablement would be different for every organization. But the purpose is more or less identical. In most organizations, Sales Enablement bridges the gap between Marketing & Sales by:
- Crafting sales assets & trainings
- Leading new hire onboarding and continuous learning of the sales reps
- Heading the evaluation of the reps’ product & user knowledge
- Paving the way for cross-functional communication
- Managing all the sales tools & resources
- Creating reports measuring sales enablement impact
Who heads the sales enablement team?
Now that’s a bit tricky because this is not a traditional function. So it can be very contextual. The head of sales runs almost 40-50% of the functions, the rest being accountable to any of the executives from the management or marketing depending upon the organization’s needs.
You must have a fair idea by now of what to expect while building a sales enablement team. So let’s move on to the meat of the matter – does sales enablement actually impact the bottom line, or is it just another frivolous corporate jargon?
What makes sales enablement so crucial (and an absolute must-have in 2021)
In plain numbers, organizations have witnessed up to 15% more success in closing deals.
Companies like Ringcentral, a business communications SaaS, saw a massive revenue run rate of $775M. The stock shot up to $126 from $22 in about two years of the sales enablement settling in.
Other than that, some companies have also experienced stronger customer relationships & higher quota attainment.
Here are three direct practical benefits of sales enablement
Maximum Sales Potential at each touchpoint
An essential part of sales enablement is sales readiness. It’s the strategic orientation preparing reps with all the armor they require before going ahead and making a sale. The resources can be anything, from the intricate details of the product to the competitive positioning.
Usually, if done right, clients end up having memorable experiences even if the sale doesn’t go through. It’s potentially a candidate for word-of-mouth.
The process includes some strategic activities like:
- Sales coaching
- Materials for consistent & updated knowledge
Engaged Salesmen are Productive Salesmen
The main goal of any Sales Enablement team is to aid sales reps in closing better. Subsequently, it also plays a crucial role in keeping them better engaged & equipped.
There was a report by SiriusDecisions that mentioned high-performing organizations having high rates of early enablement adoption, as compared to the low-performing ones.
Better pre-qualified leads, Increased conversions
Sales teams always complain about the quality of marketing qualified leads. According to Market Sherpa, most sales teams report that only 27% of b2b leads passed from marketing to sales are actually really qualified.
With transparent & consumer-centric resources answering all the generic questions ideal buyers have – the tedious part is cut in half. Now, salespeople have to cater to prospects that are pre-educated. This saves a lot of time & effort, leading to better conversion rates.
Best practices include:
- Working in sync with the sales team to prepare the resources
- Focusing more on the present-day immediate buyers’ needs than long-term traditional pieces
Moreover, your salespeople are allowed to focus on the meat of their job, i.e., selling, and the tedious parts of their job is taken away. This has a minimal but effective impact on the conversion rates.
These were the top three benefits that having a sales enablement team can incur. Here we conclude this edition on sales enablement.
Conclusively, Sales Enablement is an efficient sync between the marketing and sales departments. It’s an absolute must-have in today’s tech-oriented times where the scope of marketing & sales has changed. They are codependent more than ever but still can’t function appropriately in sync with each other. That’s why you can’t miss out on sales enablement.