Here are the five key metrics to assess the effectiveness of your sales enablement strategy
Traditional training metrics such as frequency of training programs, participation levels, and amount of content disseminated, often fail to provide enough meaningful insights to showcase sales-enablement effectiveness to top management. They are equally ineffective in helping enablement managers identify the root cause of training challenges that result in ineffective training outcomes and lead to the underperformance of sales teams.
While there are various solutions in the market that help sales managers with enablement and training, not knowing what's working and what's not is their biggest challenge. 55% of organizations say the biggest roadblock to their sales enablement journey is their inability to measure its success. Clearly, a majority of organizations are struggling to capture crucial data that can help optimize their sales enablement strategies – a key step that can increase sales by over 25%.
Here are five key indicators that can help enablement managers and training leaders measure the efficacy of their sales enablement efforts:
#1 Extent of internalization: Did the sales representative understand and imbibe the information provided during the course of the training? This should ideally be tracked right after the content is shared with the audience - through quizzes, verbal role plays or observation.
#2 Amount of value addition: Were the sales representatives engaged enough and did they find value in the content? This should also be captured immediately after the content is disseminated to the audience - through feedback surveys, conversations, interviews, or word of mouth feedback received from sales representatives.
#3 Demonstration of behavioral changes: Are the sales representatives demonstrating the desired behaviors that were promoted in the training? This can be checked through observation, usage of tools, and uptake and adoption of new content. This metric should ideally be tracked 60 days after completion of training as it takes participants some time to absorb the information and display relevant behavioral changes.
#4 Change in business metrics: Are there any changes in the key business KPIs such as pipeline size, win rate, or sales/ leads generated that can predict if an important business objective will be realized in the future? If yes, can these changes be traced to any of the sales enablement efforts? This metric should ideally be measured after three months of sales enablement efforts.
#5 Realization of results: Is there a business result such as increase in revenue, EBITDA, stock price of the organization, or more that can be attributed to the sales enablement efforts? These should only be measured after about nine to 12 months, or depending on the sales cycle and complexity of the sales enablement efforts.
Designing a sales enablement program that focuses on driving these key indicators can help organizations ensure better training outcomes.
Crafting the right sales enablement strategy
Digest this - nearly 84% of sales training is forgotten after 90 days. Bite-sized digestible content delivered in an engaging manner through videos, games or simulations helps modern learners better internalize training content and display desired behaviors. Today’s learners are able to dedicate less than 1% of their time each week towards professional development and learning, which averages out to 4.8 minutes per day. This is why microlearning – the new paradigm in the world of L&D is gaining increased traction as the go-to sales enablement delivery strategy. Besides saving significant amount of time, microlearning drives 20% higher retention as compared to traditional macrolearning techniques such as instructor-led classroom training, online MOOCs, and annual training workshops. A holistic approach, it leverages content delivery strategies focused on the short-term to ensure skill-based understanding, learning, and education.
Sales representatives can access the online microlearning platform on-the-go to receive targeted updates – product related information such as features, comparison charts, pricing or how-to-use/troubleshoot videos - across geographies and devices. The result: empowered sales representatives who are fully equipped to make a positive impact on business metrics and goals.
How Shotclasses can help you drive effective sales enablement
Mindtree’s Shotclasses is an end-to-end mobile-first microlearning solution that helps improve, measure, and predict outcomes. It is a cloud-based, gamified social learning platform that helps learning admins create and distribute bite-sized content at the point and time of need. Picture this – John, a new sales employee at a leading wine retailer, is looking to become job-ready as quickly as possible. Leveraging Shotclasses, he accesses short videos and tutorials on how to select the right wine. He compares his learning with that of his peers by playing an engaging game on the Shotclasses platform and checking the leaderboard. Happy with his performance, he digs into more content around wine selection. Within a short period of time, he becomes an expert wine advisor to customers. Motivated by the positive response from customers, he updates his knowledge every day using the platform and shares his tips with peers who benefit from it. Business for the retailer booms as a result of engaged employees such as John who keep customers happy, satisfied and loyal with their expert advice and service.
To see how Shotclasses helped a leading multimedia software company train its geographically dispersed channel partners, enabling them to not only sell right but also sell more, click here.