You can be convinced all you want about the advantages of sales enablement, we all know no investment will not happen until you find out how to convince the C-suite to buy. So why not start with the numbers we collected below?
It Won’t Work Without Measurement
Before we take a look at the figures that show how much the business can gain by enabling sales, it is essential to stop for a minute. The mentioned numbers would not be available without companies measuring their efforts.
Sounds so fundamental, right? However, you would be surprised how many of them forget about that in the rush of implementing the new workflows. Alternatively, according to our sources from around the online water cooler, each of the stakeholders considers different measures the most relevant and the projects slip on disagreement.
Don’t be that company! Arrive at an agreement with the C-suite on the measures in advance and continuously monitor your KPIs – just as you are already doing it with your targets. Sirius Decision’s State of Sales Enablement 2017 study shows that 57% of the companies use some impact-based measurement of their sales enablement efforts.
Have the Cracks Been Fixed?
So many hard-working hours and good intentions can fall through the cracks if those have not been fixed. Processes tend to erode over time and, before you introduce any new technology or method, they should be checked for faults and fixed.
The most common mistake is letting data gather in different systems that are not integrated with each other. The bottom line is your CRM is well-connected. Even better is a mobile app, combined with the CRM, that can also function as a distribution and command center for sales ops. From a C-suite perspective, that central hub becomes essential when creating the reports, which are only as good as the input of data.
The other well-known phenomenon is the inability to react to changes midst the complexity of the products and customer demand. More complex products require more consultations, and engaging today’s more informed customer requires competent advice all the way through the buyer’s journey.
So if everything goes as planned and you have avoided all of the above pitfalls, how far can you get with sales enablement? With 44% of Sales Tech survey respondents stating that failing to get approvement from the C-suite for their sales technology purchases, it is more important than ever to see clearly about the return of such investment. However, sales enablement is even more than tech: it needs to help the organization excel in many ways.
A 67% improvement in closing deals
One of the significant advantages of sales enablement technology is that it can closely align the sales efforts with the marketing operations, e.g., by providing content for all steps of the journey the potential buyer goes through. With this close cooperation, companies can become 67% better at closing deals, as well as grow their revenues 24% faster and their profit 27% faster in three years’ time, according to a Wheelhouse Advisor infographic.
At least 10% increase in conversions
In their Sales Enablement Practitioner Survey of 2016, Highspot found that half of the respondents could increase their pipeline conversion rates by at least 10%, with 12% of the companies recording an over 30% increase. Higher conversion rates mean the revenue per rep increases, too.
59% of top performers use it
Of those organizations that earned more than their targets, 59% have a dedicated sales enablement function. Moreover, of those that could do even better, achieving a 25% growth compared to goals, 72% had already invested in sales enablement, a Forrester Insights and Brainshark joint report claimed.
17%-21% potential improvement in quota attainment
An essential pillar of sales enablement is training, including the onboarding of new reps. With a dedicated investment in the necessary services through sales enablement, the potential to attain quotas improves by 17.7% for conventional methodology or process training and 21.3% for onboarding, according to the Sales Enablement Optimization Study by CSO Insights.