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Enabling, Empowering and Retaining Sales ProfessionalsIn A Digital World@tamaraschenk research director October 12, 2018 Sofia Copyright 2016, A Division of Miller Heiman Group
Educating sellers begins withunderstanding buyers Copyright 2016, A Division of Miller Heiman Group
Agenda1. Buyers: Modern buyers are changingfaster than salespeopleTamara SchenkResearch DirectorCSO Insights, The Research Division ofMiller Heiman GroupTwitter: @tamaraschenk2. Sellers: Enabling sales professionals hasnever been more challenging3. Sales Enablement: An emergingdiscipline and the role of digital learningLinkedIn: http://www.linkedin.com/in/tamaraschenkEmail: tamara.schenk@csoinsights.com4. Critical success factors and Takeaways Copyright 2016, A Division of Miller Heiman Group
Buyers are changing faster than sellers Age of the customer, digitaltransformation Ever-changing buyer behaviours MORE people (6.4 buyers), MOREprocesses and MORE “politics“ Exploding product portfolios Available selling time only 30%HOW to sell has changed - New skills, knowledge, methods to be learned Copyright 2016, A Division of Miller Heiman Group
Buyers do a lot on their ownCustomer’s Path70.2% wait until after they have fully defined needswait until they have44.2% identified their solutionsonly lock20.2% down the details 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.Source:2018 CSO Insights Buyer Preferences Study Copyright 2016, A Division of Miller Heiman Group
However, they are willing to engage sellers earlierBuyers are willing to engage sellersearlier, if the buying scenario is:90%Risky forthemAt least one of thesecriteria can be applied toalmost every opportunityRisky for theorganisationComplexNew to them 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED.Source:2018 CSO Insights Buyer Preferences Study Copyright 2016, A Division of Miller Heiman Group
The reason why they don’t do it more often #1Experts from theirindustry or third parties#2Vendor website#3Events, :2018 CSO Insights Buyer Preferences StudySalespeople are seen assalespeople.NOT as problem solvers! Copyright 2016, A Division of Miller Heiman Group
Buyers’ preferences are not surprising1Understand mybusiness and rolePreparation ismandatory2ExcellentCommunicationsCommunication skillsmatter3Focuson post-saleDeveloping theestablishedrelationshipsSource:2018 CSO Insights Buyer Preferences Study4Provide insightsand expertiseThe hard part:Perspective Copyright 2016, A Division of Miller Heiman Group
Agenda1. Buyers: Modern buyers are changing faster than salespeople2. Sellers: Enabling sales professionals has never been morechallenging3. Sales Enablement: An emerging discipline and the role ofdigital learning4. Critical success factors and Takeaways Copyright 2016, A Division of Miller Heiman Group
Everyone wants to help sales . a salesperson’s realityNew skills training (social selling)New product trainingNew process training (new CRM)New methodology trainingNew sales content has been launchedNew playbook to be usedNew value messaging trainingNew industry contentNew training (business acumen)New proposal templates to be used.What would you do?Salespeople often switch off the noise! Copyright 2016, A Division of Miller Heiman Group
The challengeEngaging, equipping and empowering SALESPEOPLEin the DIGITAL AGE to ensurethey are RELEVANT, VALUABLE, and DIFFERENTIATINGin every BUYER INTERACTIONhas never been more CHALLENGING! Copyright 2016, A Division of Miller Heiman Group
Current confusion on “sales enablement”“It’s just another word for L&D““It’s all about sales content andtechnology““Isn’t this just sales operations““It’s more sales readiness, or fieldreadiness““It’s just about sales effectiveness“ Copyright 2016, A Division of Miller Heiman Group
Sales enablement is differentEnablement cannot be put IN a box likeany other function! It is different! It is always cross-functional It orchestrates ALL enablement effortsacross all “boxes“ Along the customer’s path! Copyright 2016, A Division of Miller Heiman Group
Agenda1. Buyers: Modern buyers are changing faster than salespeople2. Sellers: Enabling sales professionals has never been morechallenging3. Sales Enablement: An emerging discipline and the role ofdigital learning4. Critical success factors and Takeaways Copyright 2016, A Division of Miller Heiman Group
Clarity step 1: Defining enablementSales Force Enablement — A strategic, collaborative disciplinedesigned to increase predictable sales resultsDigitalLearningby providing consistent, scalable enablement servicesthat allow customer-facing professionals and their managersto add value in every customer interaction.Source:2017 CSO Insights Sales Enablement Optimization Study Copyright 2016, A Division of Miller Heiman Group
Sales enablement: a fast growing discipline Young discipline Many new peopleinvolved in a shortamount of time The need forclarity has neverbeen greater!Source:2017 CSO Insights Sales Enablement Optimization Study Copyright 2016, A Division of Miller Heiman Group
Implementing enablement: Polishing a rough diamondImagine enablement as a rough diamond.A rough diamond has to be cut and polished to shine . and that requires a strategy!Source: Oriana Jewels Copyright 2016, A Division of Miller Heiman Group
Clarity step 2: The enablement clarity model Helps you to cut andpolish all enablementfacets based on YOURcontext! Allows you to create astrategic enablementdiscipline Copyright 2016, A Division of Miller Heiman Group
Enablement services overviewTop Enablement Services forSalespeople:Top Enablement Services forSales Managers:1.2.3.4.5.6.7.1. Sales coaching skilldevelopment2. Enablement analytics andmetricsSales trainingSales toolsSales process improvementsSales ContentCoachingCRM/Enablement technologyOnboardingSource:2017 CSO Insights Sales Enablement Optimization Study Copyright 2016, A Division of Miller Heiman Group
Sales training/learning defined Knowledge training:Examples are e.g., product training, industry and market training. The primarypurpose is to transfer knowledge. Often used to prepare another training Methodology training:Helps salespeople and managers to understand what to do and why, based onthe knowledge training. Methodology training helps them to connect the salesprocess to the customer’s path Skills training:Helps salespeople and managers to learn how to apply what they have learned,e.g., messaging skills, skills to apply a process, a methodology;communication, questioning, socal selling skills, and sales coaching skills Copyright 2016, A Division of Miller Heiman Group
Training modalities: E-learning is emergingSource:2017 CSO Insights Sales Enablement Optimization Study Copyright 2016, A Division of Miller Heiman Group
Digital Learning / E-Learning data“The e-learning market worldwide isforecast to surpass 243 Billion USD by2022.”--www.statista.com“ the self-paced e-learning productmarket is projected to decrease to33.5 billion USD in 2021.”“Global E-Learning Market2017 to Boom 275.10 BillionValue by 2022 at a CAGR of7.5%.”– Orbis Research--www.statista.com Copyright 2016, A Division of Miller Heiman Group
A sales leaders’ experience with eLearning“We are a large company with over 300 sales professionals across 24 countries. Thetraditional face-to-face training methods just are not fit to scale across suchan extensive organization, so we needed a more efficient and cost effective way to upskillour sales teams.Fortunately, we have had eLearning in place for over 10 years [ ] and have an extensivelibrary of programs.We mapped our sales competencies to programs in our eLearning platform and couldidentify courses, books and videos that could be used for the personal development for oursales professionals. To address individual development, managers were required tocomplete a development plan in collaboration with every team member.”--Boris Kluck, VP Sales Operations Cable & Wireless CommunicationsSource: Byron Matthews, Tamara Schenk: “Sales Enablement: A Master Framework To Engage,Equip, And Empower A World-Class Sales Force” Copyright 2016, A Division of Miller Heiman Group
Training quality matters, regardlesswhich modality was used.If sales training exceeds expectations,quota attainment can be improved.*compared to the study’s average quota attainment of 57.7% Social Selling training by 33.1% Onboarding by 21.3% Methodology/process training by 17.1%If training needs major redesign,you cannot even achieve averageperformance!Source:2017 CSO Insights Sales Enablement Optimization Study Copyright 2016, A Division of Miller Heiman Group
Effective onboarding is a “must have”Onboarding quality provement/Redesign49.3%average quota attainment: 53.7% 2017 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. 2018 MILLER HEIMAN GROUP. ALL RIGHTS RESERVED. Onboarding that meets/exceeds expectations canimprove quota attainmentby 6.7% Onboarding that needsredesign increases thevoluntary turnover rate from7.9% up to 14.2% Copyright 2016, A Division of Miller Heiman Group
Agenda1. Buyers: Modern buyers are changing faster than salespeople2. Sellers: Enabling sales professionals has never been morechallenging3. Sales Enablement: An emerging discipline and the role ofdigital learning4. Critical success factors and Takeaways Copyright 2016, A Division of Miller Heiman Group
Takeaways and critical success factorsUnderstandthe buyers andthe sales forceCollaboratewith the salesforce Who are our buyers? How do they buy? What is the sales strategy? What are the main challenges? What arethe strengths? What are the demographics? How many people are involved? How many countries/locations? L&D leaders: Collaborate with sales enablement to ensure a tailoredand effective learning strategy Design the required learning assets and play with the modalities:digital, hybrid, interactive, self-paced, etc. Focus on the sales force’s selling challenges! Measure success with predefined leading and lagging indicatorsDon’t forgetthe salesmanagersStrategize Sales coaching can impact win rates by up to 27.6%, but only 30%leverage the potential of sales coaching Develop sales managers to become better coachesSource: Byron Matthews, Tamara Schenk: “Sales Enablement: A Master Framework To Engage,Equip, And Empower A World-Class Sales us onsales coaching Copyright 2016, A Division of Miller Heiman Group
Q&ATamara SchenkResearch DirectorCSO Insights, The Research Division ofMiller Heiman GroupTwitter: @tamaraschenkLinkedIn: http://www.linkedin.com/in/tamaraschenkEmail: tamara.schenk@csoinsights.com Copyright 2016, A Division of Miller Heiman Group
Further information!Download your copy -sales-enablementoptimization-report/CSO Insights Blog:https://www.csoinsights.com/blog/Available May 1, -FrameworkProductive/dp/1119440270 Copyright 2016, A Division of Miller Heiman Group
Copyright 2016, A Division of Miller Heiman Group Agenda Tamara Schenk Research Director CSO Insights, The Research Division of Miller Heiman Group
