Your organization might have already invested in a Sales Enablement platform and could be looking for ways to quantify its benefits. Or you might be considering investing in a Sales Enablement platform but are unsure of the potential business benefits. In either case, this article might help you.
Sales Enablement requires not only investing in the technology, but also in the content, processes and teams to ensure it is a success. Given the investment is not only on the platform but also on the organization to make it successful it important to get a sense of Return on the Investment. While a lot of organizations “know” that Sales Enablement is useful, they often struggle to measure “how much”. Having an insight into how the Sales Enablement program of your organization is performing could allow you to know which activities to continue investing in and the ones which need to be discontinued.
The benefits of Sales Enablement can be grouped under these three categories. To measure the impact on these key metrics, key performance indicators can be compared before and after starting the program or for any two periods.
- Improving business results
Sales Enablement can help either by increasing revenue or reducing costs. In most cases, it does both. The metrics which can be used to evaluate correlations between sales enablement implementation and business performance are:
- Revenue metrics
- Quota achievement percentage by individual sales reps and at an organization-level
- Volume of products or services sold by individual sales reps and at an organization-level
- Value of product or services sold by individual sales reps and at an organization-level
- Conversion % of leads into closed deals by individual sales reps and at an organization-level
- Cost metrics
- Time to first closed deal of new sales reps joining in that period
- Cost of conducting trainings at an organization-level
- Cost of new content creation at an organization-level
- Cost of content printing and distribution at an organization-level
- Time spent by sales reps on unproductive tasks like content creation and searching for the right content
- Attrition rate and cost of new recruit
- Tracking the activity metrics
Sales Enablement platforms can help track activities of sales reps, giving a leading indication of the prospecting, engagement and closing activities. The activities which can be tracked to analyze the input from the sales reps are:
- Learning journeys completion % by individual sales reps and at an organization-level
- Assessment score (%) of sales reps on products and sales skills
- Number of product collateral shared by individual sales reps and at an organization-level
- Number of meetings attended by individual sales reps and at an organization-level
- Number of proposals shared by individual sales reps and at an organization-level
- Value of proposals shared by individual sales reps and at an organization-level
- Improving employee experience
The attrition rate among sales reps is usually higher than other departments. Sales Enablement not only makes the life of a sales rep easier but also increases engagement. Employee Net Promoter Score eNPS is the most commonly used metric for measuring employee experience.
(eNPS calculation: The respondent must place the organization on a scale of 1 to 10. Those who answer 9 -10 are considered promoters, 7-8 are passives and 0-6 are detractors.
Net Promoter Score = % of Promoters minus % of Detractors)
sharpsell is a mobile Sales Enablement and Readiness platform which is designed for field sales reps. It combines training, coaching and enablement for reps to get them sales ready and help them close deals faster. Companies using sharpsell have seen increase in sales team engagement, higher sales productivity with higher number of products sold, higher ticket size, increased visibility on prospecting, reduced content creation cost, reduced time to first sale, reduced costs of training, and uncovering insights on product feedback.
Want to learn more about Sales Enablement? It is the key to drive revenue, especially for distributed field sales teams. Download our ultimate guide to sales enablement to know more.
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