Run-of-the-mill sales strategies no longer cut it.
That’s why companies are increasingly turning to sales enablement to empower sellers to have more meaningful, value-driven and consultative conversations with buyers.
CSO Insights revealed that while only 19.3% of organizations reported having a sales enablement person, initiative or function in 2013, that number has surged in recent years, reaching 61.3% in 2019.
And while transforming unprepared, unengaged sales representatives into sellers who can optimize every buyer experience is essential to driving results, the impact of sales enablement goes far beyond higher win rates.
According to a Forrester Consulting Total Economic ImpactTM (TEI) study commissioned by Showpad in March 2020, a sales enablement strategy that incorporates content, training and coaching and is supported by the right technology produces significant ROI across sales and marketing teams, clearing up common pain points along the way for executives and day-to-day practitioners alike.
Increase sales productivity and active selling time
The TEI study commissioned by Showpad illustrated how a comprehensive sales enablement strategy augmented by a sales enablement platform may result in a 10% increase in productivity and active selling time for sales reps, generating a risk-adjusted total present value of $13.2 million over three years.
That ROI speaks to much more than companies’ bottom lines – it addresses some of sales leaders’ most immediate anxieties related to hitting quotas and minimizing time spent on non-revenue generating activities.
But chief sales officers aren’t the only ones benefiting from sales enablement.
Decrease onboarding time
The same TEI study commissioned by Showpad revealed a potential 25% decrease in onboarding time for sales reps, resulting in a $1.8 million risk-adjusted total present value over three years.
Faster onboarding not only provides substantial ROI, but resolves one of the most common pain points among sales enablement professionals: scaling onboarding and getting new hires up to speed quickly.
Yet the ROI of sales enablement is also felt outside of sales teams.
Increase marketing productivity
The TEI study commissioned by Showpad also highlighted a possible 25% increase in productivity for marketing professionals, which, over the course of three years, represents a risk-adjusted total present value of $460,000.
These results not only spotlight significant ROI, but speak to marketing leaders concerned with optimizing the efficiency of their teams.
And beyond chief marketing officers, productivity improvements are extremely advantageous for product marketing practitioners who struggle to develop compelling messaging and collateral in the face of limited time and resources.
The data highlighted above is only a small taste of the cross-functional ROI of sales enablement.
From supporting seller retention to helping marketers prove the value of their work, the benefits of sales enablement are apparent across different business functions, from the C-suite to the front line.
Sales enablement helps professionals of all stripes maximize ROI, prove the value of their decision-making and deliver a better buyer experience – all critical outcomes in today’s business landscape.
More than 75% of organizations with over $250 million in annual revenues invest in sales enablement, according to CSO Insights.
It’s time the rest find out why.
Check out our latest eBook, “No more half measures: How to identify and maximize sales enablement ROI,” to learn more.