Sales enablement is like having a secret weapon in your sales arsenal, isn’t it?
The process of equipping your sales team with the tools, resources, and information they need to effectively sell a product or service and make it rain (money, that is) is critical in today’s fast-paced business environment. Sales enablement has become a must-have as companies are looking for ways to improve their sales performance and stay competitive.
In this blog post, I’m going to take a deep dive into what sales enablement is, why it’s important, and some of the key trends and best practices that are emerging in the field in 2023.
But first … a definition
Let’s ask ChatGPT to define sales enablement:
But sales enablement isn’t just about providing your sales team with the tools and resources, it’s also about aligning them with the rest of the business. For sales enablement to be truly effective, it must be integrated with other key business functions like marketing, customer service and product development.
Competitiveness in a high-octane business environment
One of the reasons why sales enablement is so important is because it can help a company stay competitive in a fast-paced business environment. As technology and the economy continue to evolve at a rapid pace, companies need to find ways to stay ahead of the curve.
Sales enablement helps companies win by providing salespeople with the tools and resources they need to sell more effectively. For example, if a company provides its salespeople with access to customer insights, they will be able to better understand their customers’ needs and tailor their sales pitch accordingly. It’s like having a crystal ball that can predict your customer’s wants and needs.
Sales enablement also helps to improve overall sales performance which, in turn, increases revenue and business growth. This positive impact on a company’s bottom line leads to long term success. It’s like having a personal trainer for your sales team, helping them to reach their full potential and hit those quotas with ease.
Trend 1: Artificial Intelligence and Machine Learning
There are several key trends and best practices that are emerging in the field of sales enablement in 2023. One trend that is becoming increasingly popular is the use of artificial intelligence (AI) and machine learning. These technologies can help salespeople by providing real-time customer insights, identifying sales opportunities, and automating repetitive tasks.
Companies plan to use AI in their sales processes. This can help salespeople sell more effectively and efficiently, which can lead to increased revenue for a company.
Imagine having a robot sidekick that can assist you with all your sales tasks!
Trend 2: Virtual and Augmented Reality
Virtual and augmented reality are also becoming more prevalent in the sales environment. These technologies are assisting to create a more immersive and interactive sales experience. For example, a salesperson can use virtual reality to give a customer a virtual tour of a product or use augmented reality to show a customer what a product would look like in their home.
According to a report by MarketsandMarkets, the virtual reality in sales enablement market is expected to grow from $9.4 million in 2018 to $49.4 million by 2023, at a CAGR of 40.5%. These technologies are like having a time machine that can take your customers to the future and show them how your product will benefit them.
Trend 3: Customer-centricity
There has been a marked shift to a more customer-centric approach in sales enablement. This means that companies are focusing on providing personalized, relevant and valuable content to their customers, instead of using a one-size-fits-all approach. This can help to build trust and loyalty with customers, leading to more sales. According to a report by Forrester Research, companies that prioritize a customer-centric approach in sales enablement are 3x more likely to exceed their revenue goals. It’s like having a personal shopper for your customers, helping them to find the perfect product or service that meets their unique needs and wants.
Improving Sales Enablement
In addition to these trends, there are several best practices that companies can follow to improve their sales enablement efforts in 2023.
- Involve the sales team in the sales enablement process. Salespeople are often the best source of information about what tools and resources they need to sell more effectively. By involving the sales team in the sales enablement process, a company can ensure that its sales enablement efforts are aligned with the needs of its salespeople. According to a study by the Sales Management Association, companies that involve their sales team in the sales enablement process see a 38% increase in sales productivity. It’s like having a sales team that is fully invested in the process and determined to succeed.
- Provide regular training and development opportunities. Salespeople need to stay up-to-date with the latest sales techniques, products, and technologies in order to sell effectively. By providing regular training and development opportunities, a company can ensure that its salespeople are equipped with the knowledge and skills they need to sell effectively and efficiently.
- Ensure that sales enablement is integrated with other key business functions. Integration with marketing, customer service, product development, etc. allows for a more comprehensive and integrated approach, and helps to ensure that the sales team is aligned with the rest of the business. According to a study by the Aberdeen Group, companies that integrate sales enablement with other key business functions see a 9% increase in sales productivity. It’s like having a well-oiled machine that runs smoothly and efficiently.
In conclusion, sales enablement is essential for any company that wants to improve its sales performance and stay competitive in a fast-paced business environment. By following the trends and best practices outlined in this blog post, companies can improve their sales enablement efforts and increase revenue.