You’re probably well used to measuring data at the top of the sales funnel i.e. your leads, traffic and conversions. But in order to run an effective sales enablement strategy, you need to be tracking another set of key metrics: Sales enablement metrics. This is the data that’s directly tied to sales activity and sales results.
In this post we’ll discuss some key metrics you need to be measuring.
For many companies a big roadblock to building a sound sales enablement strategy is the inability to measure its success. Unless you know whether your reps are using enablement processes, technology and content effectively you won’t be able to correlate their activity with revenue goals.
Make sure you check out our in-depth guide to sales enablement here Sales Enablement: The Secret To Predictable Sales Revenue Growth.
Which are the most important sales enablement metrics?
Relevant sales enablement metrics will differ from organisation to organisation, but these are some worth having on the radar:
1. Content effectiveness
Persuasive content is a crucial element of an effective sales enablement campaign. Your marketing team create lots of content to fuel different aspects of the sales cycle. With so much content doing the rounds it’s essential to identify what’s working, and what’s not. To help you assess the effectiveness of your content some things to measure could include
- total views
Then these metrics should be compared to revenue.
As part of a sales enablement process you also need to be able to tie content usage to closed or lost deals. Only then can marketing know if their efforts are paying off.
2. How technology is being used
As part of a sales enablement strategy reps need to have various tools at their disposal e.g. a CRM. Then they can collect, and process data as well as provide feedback to elevate the sales process.
Things to measure include how much reps are using theses tools on a daily/weekly basis.
3. Whether reps are adhering to the sales process
Sales reps should be following the protocols set down by the sales enablement team. If they aren’t this will have an impact on sales.
To help you understand how well sales are following the rules, break the sales process down into a set of desired sales processes at each stage of the sales cycle. If your CRM is not capable of tracking these kinds of actions it’s maybe time to adopt a separate tracking system.
By understanding at what stages sales may be skipping actions you can rectify the situation with enhanced training.
4. The time taken to close deals
This is a key sales enablement metric to track. The time taken to close deals is often referred to as the ‘ramp to revenue’ time. A way to measure this is to monitor how long it takes a rep to achieve a given quota. For example if you hire a rep in January and they achieve their full quota by June their ramp time is six months.
Long ramp times indicate that training needs to be revisited while lower ramp times suggest your sales enablement tactics are working.
5. Selling time
According to some reports salespeople spend just one third of their time actually selling.
The more time salespeople spend searching for leads, crafting presentations and researching, the less time they spend on calls, and the less likely they’ll close deals. Reps that are ‘enabled’ with all relevant content and references easily accessible should have far more time available to achieve their quotas.
It’s important to measure how much of each rep’s time is spent on direct sales – along with how successfully they’re selling. Greater focus and fewer distractions should lead to greater revenue. Just a few hours a week can add up and boost the bottom line.
6. Average deal size
The average deal size is a key sales enablement metric you should be measuring. This is the average size of all new deals won. Sales reps often miss opportunities to help customers and increase deal size because they’re poorly prepared to recognise the problems you can solve for your customers.
In order to achieve larger deals, reps need to be highly knowledgeable about the products and understand how to impart information to customers so that it’s relevant to them.
With the ever-increasing progress of new technologies it’s easy to get lost in the minutiae of endless numbers and forget the metrics that really matter.
The above list rounds up some key metrics you need to keep an eye on as part of a successful sales enablement strategy. While this type of information gathering may seem time-consuming, it will be worth it. According to CSO Insights having an effective sales enablement strategy leads to a two digit improvement for quota attainment and win rates compared to those without.