As per industry figures, only a third of the sales team meet their quota, and just a few exceed it. So how does an organization get its sales team to deliver a great performance? Simple answer really- get in new tools to help your sales team. Empirical evidence shows that the right sales enablement technology implemented correctly, at the right time, makes the difference between lead, deal, and a loss. Organizations need sales enablement tools for a superlative sales performance. And the perfect time to do it is when you see any of the following happenings in your organization.
- Onboarding time for new salespersons exceeds the average Thousands of dollars are spent and hundreds of man-hours invested in getting the new salespersons get up to speed in their onboarding. And despite this, the performance is average or even poor. The right sales enablement tool can help cut this time by 30 to 40 % while ensuring the right content and knowledge of products and services are at hand for the new sales team to move ahead with confidence, sound knowledge and perform well.
- Productivity is suffering due to less time spent on core selling Sales productivity is a challenge, has been one, for a long time for many B2B companies When sales productivity dips, revenue is heavily impacted. The primary cause of this decline is attributed to the sales team performing more functions other than core selling. Usually, these tasks are routine, non-core and repetitive. Perfect candidates for automation. A good example would be a CRM that helps automate major such tasks and increases productivity by at least 30%.
- A blanket approach to sales The buyer is getting smarter and more demanding. If sales are using a blanket approach to selling, then it is the seller’s loss, for certain. To stem the loss and to transform the selling process vis-à-vis the changing buyer scenario, it is critical to get into automation. These tools can help tailor the offering or solution based on buyer persona, preferences while also tailoring the content, messaging and interaction timing between the salesperson and buyer. Sales strategies have to take this into account to ensure that the sales team meets the buyer one-on-one, thus improving effectiveness.
- Taking the sales further in the journey is a problem There is a cost attached to not taking the sale further in its journey, in time and in the right manner. Often, salespersons are not aware of how to do it; they get stuck after a point, or maybe they are not so sure about the next step in certain situations. Sales enablement tools like relationship mapping come to the rescue once again by helping the salespersons with the right help through persona-based selling tips, just-in-time coaching, and effective collaterals. These are also instantly accessible to any of the sales team members.
- Sitting on the fence ends up in more losses than anything else It is incredible to note that anything up to 50% of the sales forecasts ends up as a no-decision. Something that is neither here nor there and as time lapses, the decision goes the wrong end of the funnel and is declared as a lost deal. It is interesting to see that this happens because, in many cases, it is easier to do nothing. “Why challenge the status quo?” is always a better proposition. With sales enablement tools, it is easier to overcome the status quo. This happens by offering value. The more the salesperson gets to the depth of the prospect and understands his business, addresses his pain points, the more the engagement between the salesperson and the buyer. This often results in a deal. Sales enablement tools help salespersons by guiding them on how to build a case, helps them to engage the prospects with value-added content and help them to advance the deal.
- The right content at the right time is not available to the sales team A survey shows that 90 percent of content is not used. Where we know that impactful content influences 95 percent of B2B sales, sales teams say they never have the right content on hand when they want it. As a result, sales teams waste valuable time away from core selling and in finding the right content or creating it themselves. With sales enablement tools, real-time data shows what content a sales rep may need at what time for a maximum turnaround and helps put up that content for the salesperson to use. Right content, at the right time for the right sales person, is the best thing that can happen to sales effectiveness.
- Limited insights into what works and what doesn’t, hampers the sale If data is there, then data analytics are not there; this is true in many cases. This hampers the sale as has been proven time and again. Insights help in closing a deal because insights help the salesperson in knowing more about his prospect. Sales enablement tools help in data mining and with predictive analysis helps the sales persons to glean insights from data captured. This helps the sales team to improve sales performance, through improved productivity, increased effectiveness and thus improves revenues. The above 7 signs are clear indications of when an organization should start getting in automation and look at sales enablement seriously. If you have spotted any of the above signs, we recommend you start getting into action immediately and get in Sales Enablement.