Your sales enablement efforts are intended to improve the performance of your sales team. They’re supposed to increase efficiency and productivity. They’re supposed to set your sales people on the right path to sell to today’s customers. They’re supposed to increase sales and revenue.
How can you figure out if your efforts have paid off? Though there is no one specific way to measure your results, there are many strategies that you can choose from to find out whether or not sales enablement has improved your sales department.
Here are some of those strategies.
Review Conversion Rates
To keep track of your sales enablement results, look at your lead-to-customer conversion rate. With better analytics, more lead intelligence, and best practices under their belt, your sales people should be able to successfully convert more leads into customers. You should see an upwards trend in closed deals.
Though it will be influenced by many factors, the conversion rate is a good number to keep track of to measure the impact of your enablement efforts. Compare the numbers before and after sales enablement for specific time periods.
Track Time Spent Selling
The sales tools and technologies that will be introduced in your sales department should effectively cut down on wasted time, increase efficiency, and allow your sales people to have more time available for core selling.
With more automation and fewer interruptions, your sales team can get back to selling, and any time put back into core selling can increase revenue, which means that tracking time spent on core selling is a good way to measure your program’s success.
Track Quota Attainment
Sales performance is measured by quota attainment, which means this is an excellent metric to track. Of course, you’re going to have A, B, and C players, all with different attainment numbers. If best practices were adopted across the board, then you should see your B and C players rising up to the same level as your star performers.
Track Time to Quota
Your enablement program will be used to train and onboard new sales people. If your efforts succeeded, then you should be able ramp up your new team members more quickly and see them being as effective as the rest of your team faster than before. Understanding how long it takes new sales people to match the quota attainment levels of the rest of your seasoned sales reps will help you evaluate the success of your program.
Calculate Win/Loss Rates
Sales enablement supports and guides your sales people. It improves their selling skills. And it ensures that they’re equipped with all of the knowledge, best practices, and strategies they need to win when they’re facing their competitors.
In your CRM software, you can measure your win/loss ratio in the track deal stages.
Post Your Sales Content on the Web, and Track the Results
Your sales enablement consultant will arm your sales reps will all of the different types of sales content they need to convince prospects to buy, including testimonials, case studies, and product overviews. But how can you tell if this content is really working to change buying behaviours? Post it online.
When you post this sales content online, you’ll then be able to track who is viewing the content and whether or not it’s actually influencing purchasing decisions. Use attribution reporting to see the how much influence your content pieces had in converting leads to customers.
No two enablement programs are alike. As such, no two companies should use the same metrics to measure their programs’ successes. However, these metrics are a good start to helping you understand whether or not you have succeeded to improve your sales department with your efforts.