Sales Tips

What Is Sales Enablement? (6 Key Sales Enablement KPIs)

Businesses should make all efforts to empower their sales team to live up to their potential and achieve their targets. It can be made possible through sales enablement. Here, we take a look at what sales enablement is, its importance, and what are the primary sales enablement KPIs to track.

What is Sales Enablement?

Sales enablement is a continuous, deliberate, and cross-functional process aiming to equip the sales team with the necessary resources to drive productivity and efficiency. Such resources could be in the form of training, content, knowledge, information, and tools that aid salespersons at every stage of the sales cycle – engagement or closing deals.

Importance of Sales Enablement

Given the definition of sales enablement, it is evident that its purpose is to streamline sales performance throughout the buyer’s journey. It produces some related benefits in the form of:

  • Sales readiness allows sales reps to infuse value at every touchpoint and during every interaction.
  • Increased employee engagement as your sales team is equipped to address customer issues without any duress.
  • Higher employee satisfaction would also result in talent retention and lower employee churn rates.
  • Greater client-facing success since the sales reps would be in a position to engage meaningfully with customers and resolve issues with minimum turnaround time and maximum accuracy.
  • Optimizes the use of sales tools and resources and ensures that no sales rep is left behind.
  • Maximizes profitability as you can not only capitalize on cross-selling and upselling opportunities but also discover high-potential revenue generation opportunities.

6 Sales Enablement KPIs to Measure

As mentioned previously, sales enablement is an iterative process. As such, businesses would need to re-evaluate its impact and make appropriate changes. In this regard, you would need the right set of sales enablement KPIs to monitor the sales enablement process. Here are a few sales enablement KPIs that we recommend tracking:

Ramp Time

Sales enablement starts right from the moment a new sales rep joins your team. As such, one of the first sales enablement KPIs that you should measure surrounds the efficacy of the onboarding process. Ramp Time is the KPI in question. It includes two parameters – the time the new rep takes to make their first sales and the rate at which they hit the quota.

In other words, it is the time taken by a new rep to “ramp up” to meet the sales requirements. If they manage to do well on this front, it means that the sales enablement efforts during onboarding are yielding fruit.

Quota Attainment

Everything in sales eventually boils down to quota. While sales managers can keep tabs on their entire sales team, Quota Attainment is a sales enablement KPI that needs to be measured on the individual level.

After all, your rockstar salespeople could be the ones carrying the entire team on their backs while the rest turn complacent! Granular analysis of this KPI can also highlight each sales rep’s personal strengths and weaknesses, allowing leaders to position them to play to their skills.

Win Rate

As the name indicates, Win Rate is the percentage of the deals closed. You can use this sales enablement KPI to measure the overall performance of a team or an individual sales rep for a defined reporting period.

Those delivering impressive win rates can serve as use cases of what to do while engaging with the customers, while the opposite would outline the don’ts. It could also bring to light what approach suits certain customer groups and how you must adapt your sales methodology accordingly.

Sales Velocity

Sales velocity is the speed at which an opportunity moves from being a lead to a closed deal. Slow sales velocity means that there are several obstacles and bottlenecks that are coming in the way of your progress.

It is also an indicator of how revenue is anticipated to trickle down. Sales enablement would require analyzing the hurdles and eliminating them or minimizing their impact so that sales reps would get compounded results for the same amount of effort.

Average Deal Size

Average deal size is not your typical sales enablement KPI – but it should be. Even if your salespeople are capable of increasing the average deal size by a smidge, it would trickle down exponentially and increase the overall revenue generation capacity.

Sales enablement helps in this regard by equipping the reps with the insights and techniques to harness upselling and cross-selling opportunities to maximize revenue. Also, it might help in identifying untapped revenue potential that would otherwise go ignored.

Conversion Rate

How could we talk about what is sales enablement without bringing up the conversion rate? Conversion rate is the percentage form of the total conversions against the total interactions for the same period. It functions as a sales enablement KPI considering that you could use it to measure the number of calls made by the sales rep and the percentage of such calls that end up converting into deals successfully.

To bring about a consonance between your marketing and sales team, you can also measure MQL-to-SQL (Marketing Qualified Leads to Sales Qualified Leads) conversion rate.

Final words

Having sales enablement platforms with features like Learning Management Systems (LMS), call recording software, individualized AI-powered sales coaching, and other capabilities can make sales enablement easier and more accessible. So, build one such tech stack for your sales team that enables them to perform optimally.

Sid heads the global Sales Team at JustCall. He has been instrumental in establishing the foundation for the GTM functions at JustCall, driving the organisation into a growth phase. He is passionate about enabling organisations to build great customer experiences using technology. He is always looking to help startups beyond work, advising early stage companies on all things Sales & GTM.

How useful was this post?

0/5

-

( 0 votes)

Learn from our videos