How to Effectively Invest in a Sales Enablement Ecosystem
Research shows that sales enablement works.
More than 75% of companies using sales enablement tools reported that their sales increased over the past 12 months, with nearly 40% seeing a growth of more than 25%.
Not only that, but 29% of companies that surpassed revenue targets and 72% that exceeded them by 25% or more – have actively implemented sales enablement tools, compared to only 30% of underperforming organizations.
Yet – even though its value has been proven – again and again – decision-makers frequently balk at making a major investment in sales enablement.
This investment feels like a loss. Many decision-makers don’t know where to pull this money from, and instead of investing in sales enablement, they put money into marketing promotions to close their sales gaps.
Yet, these decision-makers are missing a significant opportunity.
To effectively invest in sales enablement – all you have to do is think more like Robin Hood.
Legend Has It…
You don’t have to dress in green, traipse through Sherwood Forest by night, or feast in the woods with a band of merry men.
But, there are lessons to be gained from this legendary character.
In the classic story, Robin Hood stole from the rich and gave to the poor. While the tale has been romanticized over centuries, at its heart, Robin Hood is a story about the redistribution of wealth.
That’s the same story you need to tell with your organization’s budget.
To invest in sales enablement in a sustainable way and generate measurable returns, you must redistribute the wealth (i.e., budget) within your departments.
Your Sales Enablement Ecosystem (Not So Different From Sherwood Forest)
Sales enablement is an ecosystem.
The sales enablement ecosystem consists of multiple components; including recruiting, onboarding, training, reinforcement training, coaching, validations of proficiency, and succession planning.
These sales enablement components require collaboration between multiple departments within an organization; including marketing, finance, human resources, and operations.
To adequately invest in Sales Enablement, you need to redirect money from these resource-rich departments into your resource-poor sales enablement function.
Taking on the Robin Hood role is simply reallocating your existing money.
And, here’s what Robin Hood didn’t talk about too much:
When you steal from your resource-rich and give to your resource-poor… everyone prospers.
The money you take out of your organization’s departments is simply an investment in those same departments. Your sales enablement tool feeds back into every corner of your organization; increasing your revenue, boosting your bottom line, and giving you a significant and measurable return on your investment.
Of course, how much you invest in sales enablement, “depends on your industry, your company size, and the strategies you plan on implementing,” says a Square2Marketing article.
But one thing is certain; the resources you invest in sales enablement are working on your behalf.
According to the Training Industry, “one hundred percent of sales enablement – including the reporting, sales processes, data, analysis, lead scoring, marketing content, AI, and more – is there to position the salesperson to have better quality sales conversions,”
Approach your sales enablement investment in the same way Robin Hood approached the redistribution of wealth in Sherwood Forest; with passion, integrity, and a steadfast knowledge that you are doing the right thing; taking steps to make your entire organization more prosperous.
References:
https://www.square2marketing.com/blog/what-should-my-budget-be-for-sales-enablement
https://www.highspot.com/blog/new-research-state-of-sales-enablement-2017/
https://www.jeffdavis2.com/blog/2018/11/16/what-i-learned-at-transform18-by-showpad