When a thoughtful sales enablement process is practiced in an organization, there is a direct impact on sales conversion rates.
A new Highspot/Heinz Marketing survey of nearly 400 B2B sales, marketing, and sales enablement professionals shows a heightened investment in sales enablement teams, initiatives, and technology directly—and in many cases dramatically—increases sales conversion rates from opportunity to closed-won deals, for B2B companies.
According to the survey, more than 50% of companies that have committed to sales enablement efforts have experienced improved sales conversion rates of greater than 10%. A full 23% of companies have seen conversion rates increase by 20% or more, and 11% have increased their conversion rate by greater than 30%. That could represent as much as a 30% increase in revenue from existing pipeline! I can’t think of another business process that can deliver such results.
When it comes to sales enablement, larger organizations are largely on board, but opportunity awaits for smaller organizations who lag slightly on adoption.
- 79% of organizations with sales teams larger than 10 reps are doing some form of structured sales enablement activities
- A majority (53%) have teams dedicated to sales enablement
- 67% of organizations with 100 sales reps or more report dedicated sales enablement teams, but only 44% of those in the mid-market (11-99 sales reps) have dedicated teams
Now that I’ve hit you with a whole lot of statistics, what does this mean in the day-to-day world of an organization running a structured, measurable sales enablement practice? For the “feet on the street”—your sales reps—it means being able to find the content they need, when they need it. And for your marketing team, it means knowing what works—and what doesn’t—and being able to tailor content to both sales team’s and prospects’ needs.
I’ll give you a couple of quick examples of sales enablement at work.
Red Hat has successfully organized more than 3,000 pieces of content, and made it highly accessible for its sales force based out of 85 global offices, without requiring VPN access from behind its firewall. Sales can quickly and easily access the right material at the right time, including from mobile devices, because it knows exactly where to go when a content need arises. And, PayScale has saved its sales team an average of three hours per week by making it easy to find the latest and greatest content, organized the way its sales team searches.
We see it time and again—once you put structure around sales enablement, the results start rolling in, and both sales and marketing get more invested in optimizing efforts—which leads to even better results. Survey respondents told us firsthand what they do to make the most of their sales enablement initiatives, and you can read about it in the in-depth results of the 2016 Sales Enablement Practitioner Survey.
Today’s post is by guest author Jeff Day, VP Marketing for Highspot, a sales enablement platform that connects sales teams with the most relevant content for each sales situation.