Sales Enablement CheatSheet

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The definition of sales enablement
Which technologies address enablement
Related terms and their respective definitions (territory management, configure price quote, learning management, gamification, sales portals, incentive compensation, sales performance management, etc.)
Common reasons to invest in sales enablement- what business outcomes can you expect
Online resources to help identify relevant technologies that can support your sales enablement efforts

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Sales Enablement CheatSheet

  1. 1. Entire content © 2014 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction prohibited. Note: This document is intended for individual use. Electronic distribution via email or by posting on a personal website is in violation of the terms of use. Concept Cheat Sheet What’s a CheatSheet? Gleanster Research produces two types of CheatSheats: ÆÆ Concept CheatSheats: Explaining the nuances of a key concept. ÆÆ Technology CheatSheats: A comprehensive guide to a technology. CheatSheats offer a quick and consumable overview of a key concept or technology. Our analysts develop these with one goal in mind; explain the concept or technology as if you were talking to your grandmother. It’s the quickest way to get acclimated to emerging business terms and impress your colleagues and your boss with your practical insights at your next meeting. Inside a Concept CheatSheet The Concept, Defined Related Definitions Related Business Outcomes Relevant Technologies Compliments of: This CheatSheet is made available compliments of: Gleanster is a new breed of market research and advisory services firm. Its analyst reports highlight the experiences of Top Performing organizations; why they invest in technology, how they overcome challenges, and how they maximize the value of their investments. Sales Enablement The Concept, Defined Sales enablement is a methodical and systematic approach to preparing reps to engage customers and maximize share of wallet at every stage of the customer lifecycle. Sales enablement encompasses cross-functional role responsibilities, tasks, and technologies that enhance the individual success of sales reps in a systematic way. Most organizations are guilty of opportunistic or haphazard sales enablement that gives sales reps just enough information to be marginally effective. Done correctly, a sales enablement infrastructure should make sharing best practices across the sales function a scalable and ongoing process that is readily accessible anytime and anywhere. The nature of the term and its diverse use among vendors and service providers sort of makes it difficult to narrowly define it – in part because none of the definitions seem confusing. They all seem to work. Perhaps that’s okay because the requirements for empowering sales vary widely from organization to organization. As such, sales enablement can be broadly defined as: • A role or function in a company (also commonly referred to as sales operations). • A task conducted by multiple roles (it could be argued that finance, IT, marketing, and sales all consistently conduct routine tasks that impact sales success). • A technology category (with a broad term like Sales Enablement it’s easy for vendors to jump on the bandwagon. There are almost 100 vendors that position solutions around Sales Enablement. It really comes down to what part of sales enablement a solution is enabling Sales enablement is therefore more of a concept or discipline for maximizing sales success. Let’s talk fat word/skinny word for a minute – perhaps this will help put some structure around the term. Fat words are broadly defined categories of terms that have generic meanings. Skinny words narrowly define a very specific object. For example, transportation is a fat word. There are lots of different types of transportation vehicles: cars, boats, airplanes. Let’s get a little skinnier: airplane. Airplane is still fat, but we are narrowly defining a class of vehicle. A McDonnell Douglas DC-10 is a very specific skinny word that could only mean one thing – it’s a vehicle, it’s an airplane, it’s a jet airplane, it’s a model DC-10 built by McDonnell Douglas. Now, let’s apply that to Sales Enablement. That gives us three categories of sales enablement: Sales Enablement Tasks, Sales Enablement Roles, and Sales Enablement Technologies. Sales Enablement ◦◦ Sales Enablement Tasks (conducted by many different functions in the organization) ▪▪ A PowerPoint Deck Template for Sales ▪▪ Developing a performance deck showing aggregate sales results last quarter ▪▪ An update to the global price sheet ▪▪ An communication about a SPIF ▪▪ Create a new whitepaper ▪▪ Create a datasheet ◦◦ Sales Enablement Roles ▪▪ Sales Operations
  2. 2. Entire content © 2014 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction prohibited. Note: This document is intended for individual use. Electronic distribution via email or by posting on a personal website is in violation of the terms of use. Concept CheatSheet: Sales Enablement 2 COMPLIMENTS OF:   ▪▪ Sales Enablement ▪▪ CRM Administrator ◦◦ Sales Enablement Technologies (a variety of different tools can directly enable sales success) ▪▪ Configure Price Quote ▪▪ Customer Feedback ▪▪ Customer Relationship Management ▪▪ eSignature Tools ▪▪ Incentive Compensation Management ▪▪ Lead Management ▪▪ Lead Nurturing ▪▪ Proposal Management ▪▪ Sales Learning Management ▪▪ Sales Performance Management ▪▪ Sales Portal ▪▪ Territory Management While the term may seem like a broad definition, the responsibility of a sales enablement role is to evaluate opportunities to improve efficiency, lower cost, and capture more revenue across all these different skinny capabilities. The sheer volume of opportunities clearly underscores why we continue to see growth in sales enablement roles. Related Definitions Incentive Compensation Management (ICM): ICM tools support the administration of sales compensation plans, quotas, crediting, and adjustments. These systems also help process commissions for direct sales and channel sales Sales performance management (SPM): A set of business processes for planning and determining sales and personnel effectiveness, setting metrics for success in collaboration with other corporate functions (human resources, finance, etc.) and creating efficiency in sales operations. As a software application, the goal of SPM is to develop an infrastructure to educate, motivate, and empower salespeople to satisfy customers and collectively meet organizational objectives. Territory Management: A way of dividing a geographic area with the goal of increasing sales in that area. Territories can be set up to help mitigate the unique challenges that may exist in different geographic regions. Likewise, unique incentive plans may be necessary to drive performance in each territory. Configure Price Quote (CPQ): Configure price quote software (CPQ) is an industry term for products that help companies manage pricing for complex product portfolios. CPQ software is sometimes written as “configure, price, quote” to illustrate that it can help with all three core operations for setting and controlling prices. Learning Management System: A learning management system (LMS) is a software application for the administration, documentation, tracking, reporting and delivery of e-learning education courses or training programs. LMSs range from systems for managing training and educational records to software for distributing online or blended/hybrid college courses over the Internet with features for online collaboration. These platforms are frequently used for scalable sales training. Gamification: Gamification is the use of game thinking and game mechanics in non-game contexts to engage users in solving problems. In SPM, sales gamification creates competitive game based environments around performance and learning management. Reps are rewarded appropriately for accomplishments. It’s sort of like applying an internal FourSquare to your sales team. Sales Portal: A central repository for sales teams and partner channels to collaborate, access content, track leads, access training, and locate channel support. Related Business Outcomes • Empower sales with clear value propositions • Encourage sales collaboration (direct and channel) • Generate ongoing intelligence and competitive insights • Improve competitive differentiation • Improve percentage of reps achieving quota • Improve the quality of leads • Increase efficiency • Increase revenue • Increase the quantity of quality leads • Increase up-sell and cross-sell revenue • Manage and track channel leads • New customer acquisition • Reduce new staff onboarding cycle time • Reduce operational costs Relevant Technologies What technologies support this concept? Check out the links below to view the landscape of vendors (and related Gleanster Research content). Remember that Gleansights contain analyst commentary and vendor
  3. 3. Entire content © 2014 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction prohibited. Note: This document is intended for individual use. Electronic distribution via email or by posting on a personal website is in violation of the terms of use. Concept CheatSheet: Sales Enablement 2 COMPLIMENTS OF:   rankings (based on end-user feedback) on all the relevant Solution Providers in a given Topic Area. Sales Enablement Configure Price Quote Customer Feedback Customer Relationship Management eSignature Tools Incentive Compensation Management Lead Management Lead Nurturing Marketing Automation Proposal Management Sales Learning Management Sales Performance Management Sales Portal Territory Management

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