How Do You Turn Sales Enablement Into A Profit Center?
Sales enablement is one of the most complex and common challenges facing businesses, and without a plan to achieve it, it can be a roadblock to the revenue growth of your company.
Research has shown that Sales Reps only spend 37% of their time selling, with the rest devoted to non-revenue-generating activities. Now, of course, we can’t expect that they just sell, sell, sell, but sales enablement best practices allow us to maximize our efforts and minimize the time spent doing non-revenue-generating activities.
According to Salesforce, 40% of sellers feel constrained by the limited amount of insight into their sales process, as well as the lack of sales/marketing alignment.
If you can align teams within an effective sales enablement program and give as much insight as possible, then you’ll remove major obstacles to success.
Why is Sales Enablement Important to your organization?
Over 75% of companies using sales enablement tools indicated that sales increased over the past 12 months (HighSpot).
By investing in the right tools, businesses can improve the productivity of their team members, automate specific processes all while gaining insight into their business. All this together leads to having increased performance from your sales team.
There is a lot to think about before, during, and after the sales process. Especially with so many tactics and tools that exist out in the marketplace, the day to day whirlwind of distractions can make it hard for sales teams to effectively reach their goals. Sales enablement exists specifically to help sales teams achieve their goals. Makes sense, right?
How Sales Enablement Drives Revenue
How exactly does sales enablement help an organization generate more revenue?
A sales team supported by sales enablement is a great way of reducing high turnover while making information stick. A recent Aberdeen Group study found that it takes seven months and almost $30,000 to recruit and onboard a new rep. That’s a lot of money down the drain if you have a high rep turnover – and most SaaS companies do.
With sales enablement and the right tools, an organization can decrease ramp-up time by at least 30-40%, as well as reduce the frequency of mistakes and boost job satisfaction. If you’re creating more knowledgeable reps who aren’t going to just leave if they get a better offer or who you aren’t going to have to fire in their first year, you’re likely to sell more in the long run.
Coaching – especially continued coaching – is hugely important when thinking about the success of the sales team. Sales reps who receive just three hours of coaching a month exceed their goals by 7%, boosting revenue by 26% and increasing the average close rate by 70%. We know this to be extremely true at The Core Results. Coaching should be a key component of any organization’s culture and strategy because it can impact performance at every level.
Sales Enablement is Your Competitive Advantage
When companies embrace sales enablement, they inevitably outpace their competition. According to Aberdeen Group, Sales Enablement: What the Best in Class Do Better, “companies that take the right approach are 96% more likely to achieve competitive levels of sales sophistication.”
In this study, they found that when companies align their sales methods, they deliver consistent, predictable results in revenue, quota attainment, and beyond.
Sales Enablement tools like The Core Results App equips sales coaches with the knowledge, skills, and content to improve sales execution and drive revenue. Helping sales coaches add value to the sales process while enabling their sales representatives to become trusted advisors to the customer. Companies that equip their sales teams with this technology find it easier to empower, enable and retain reps.
In the end, there is no doubt that sales enablement is tied directly to revenue and plays a powerful role in generating sales and income for the organization. By incorporating these best practices you will demonstrate how your sales enablement organization can be a profit center for your business. Are you ready?
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