So, your company recently invested in a sales enablement solution. Now what? Of course, there are obvious first steps like onboarding sellers and migrating content, but what comes next?
In the case of any sales technology solution, once it’s up and running, my question as a CRO is, “Is it making my sellers more effective?” You’ll eventually need to measure and demonstrate its return on investment (ROI).
But how do you go about evaluating sales enablement ROI?
In Seismic’s Annual Sales Enablement Benchmark Report (2021), we discovered the answer isn’t always easy. Just 68% of all the companies surveyed expressed confidence in the data they use to track the effectiveness of their sales enablement efforts.
However, 94% of sales enablement Visionaries expressed confidence in their data. In this article, we’ll share how Visionaries use data to track sales enablement ROI and, more importantly, why it matters.
Understanding who is using your platform
Platform adoption is a baseline metric used to measure sales enablement ROI. Adoption helps sales enablement leadership understand how many sellers use the solution and how often.
Platform adoption can have a significant impact on a variety of additional metrics. For instance, the data that’s generated by your sales enablement solution can be used to measure content effectiveness. But, to generate reliable data, you need more sellers to adopt and routinely use your sales enablement solution.
Platform adoption rates can also help diagnose challenges. If fewer sellers than expected have adopted your platform, you may need to revisit onboarding or provide additional training.
“If nobody is using it, you are either wasting your money or have done a poor job with rollout and training and need a reboot.”
CMO, Brand Management Company
In the survey, 52% of respondents reported that their sellers had fully adopted their sales enablement solution. That figure increases to 64% among Visionaries.
Seismic’s sales enablement solution provides robust platform analytics to monitor adoption and other critical metrics. It also captures data on content performance which provides more insight into sales enablement ROI.
How content influences sales cycles and revenue
Customers are more inclined to do business with sellers who deliver highly personalized content experiences.
The vast majority of Visionaries expressed confidence in the data they use to measure content effectiveness. So, what metrics do they use to measure success and identify areas of improvement?
These metrics contribute to a better understanding of sales enablement ROI by revealing which content is popular with buyers, as well as sellers.
Knowing what content is accessed by sellers is valuable to marketers, because it indicates the content sellers value the most. Gaining insight into what content influences opportunities and revenue empowers sellers to use top-performing content to accelerate sales cycles win more deals.
These metrics matter for a variety of reasons, but ultimately, they’re valuable because they enable sellers and marketers to make insights-driven content decisions.
Revenue is the best marker of ROI
Adoption and content effectiveness metrics help enablement leaders measure ROI. They also help other parts of the go-to-market (GTM) organization identify trends and patterns that underpin success.
Seismic’s Benchmark survey found that enablement Visionaries use these insights to scale best practices from their most successful sellers across the organization.
Organizations with more mature enablement practices track a number of metrics to evaluate ROI. The data they capture allows them to drive new efficiencies and increase revenue.
Visionaries in our study reported that their companies achieved 121% of their quota in the past fiscal year. 43% of Visionaries also noted that their companies rated in the top 10% in their industry in customer satisfaction as measured by net promoter score (NPS).
If you’d like to learn more about how Visionaries leverage sales enablement as a strategic business enabler, check out the study results. You can also check out some FAQs around the report below!
How can we effectively measure the ROI of a sales enablement tool?
Effectively measuring the return on investment (ROI) of a sales enablement tool involves tracking various metrics like platform adoption rates and content effectiveness. These metrics provide insights into how the platform is being utilized by sellers and its impact on revenue generation. Additionally, comparing these metrics against organizational goals and benchmarks helps evaluate sales enablement success.
What are some key metrics used by enablement leaders to track the effectiveness of the efforts?
Key metrics such as platform adoption rates, content effectiveness, and revenue generated are just a few examples of the top metrics for sales enablement leaders. By analyzing these metrics, enablement organizations gain insights into what content resonates with buyers and sellers, enabling them to make data-driven decisions to optimize sales processes and drive revenue growth.
How can sales enablement platform adoption and content effectiveness metrics help improve the sales cycle and revenue generation?
These metrics play a crucial role in improving sales cycles and revenue generation within an organization. By understanding which content is most effective in influencing opportunities and revenue, sellers can prioritize using top-performing content to accelerate sales cycles and win more deals. Additionally, analyzing platform adoption rates helps identify areas for improvement in onboarding and training, ultimately leading to increased utilization and effectiveness of the sales enablement tool.