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State of Sales Enablement 2015

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Analyst report on the 2015 industry survey on sales enablement adoption, best practices and results.

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State of Sales Enablement 2015

  1. 1. EFFECTIVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING NT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNO EFFECTIVENESS SALES ENABLEMENT SUP TIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINMENT EFFECTIVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGE EMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINMENT GROWTH BES EFFECTIVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVEN SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA NTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINMENT GROWTH BEST PRACTIC QUALITY VELOCITY EFFECTIVENESS SALES ENABLEMENT SU ODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINM BOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINMENT GROWTH BEST PRACTICE MARGIN VELOCITY IVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN TY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE QUALITY ATTAIN EFFECTIVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT NT TRAINING ONBOARDING REVENUE MARGIN QUOTA EFFICIENCY KNOWLEDGE ATTAINMENT GROWTH BEST PRACTICE QU FFECTIVENESS SALES ENABLEMENT SUPPORT PRODUCTIVITY ENGAGEMENT CONTENT TRAINING ONBOARDING REVENUE M 2015 STATE OF SALES ENABLEMENT RESULTS AND ANALYSIS FROM THE 2015 RESEARCH STUDY ON SALES ENABLEMENT BY HIGHSPOT & HEINZ MARKETING
  2. 2. 2015 STATE OF SALES ENABLEMENT 2 “Sales enablement” as a general business process has been around in B2B organizations for quite some time. That is, most organizations have had people in marketing and sales dedicate time to helping the Sales team be more effective. But in the last 5 years, its importance has skyrocketed, due to its ability to increase sales productivity and effectiveness. Leading organizations are forming Sales Enablement teams dedicated to this task and the market for Sales Enablement technology solutions has exploded. According to Aberdeen research1 , these leading organizations are seeing incredible results such as: • 99% overall team attainment of sales quota • 9% advantage in year-to-year revenue growth over average companies • 7.4% year over year growth in average deal size (ASP) But how many companies are taking advantage of this opportunity? And how well have they implemented sales enablement programs to achieve these results? What are sales enablement activities, how effective are they, and how actively are organizations executing them? These were the questions at the heart of a groundbreaking study conducted in August 2015 by Highspot and Heinz Marketing among more than 400 B2B sales & marketing professionals. The results may surprise you. The importance of sales enablement activities rank high across all organizations, but there is clearly a gap between the ‘have’ and the ‘have nots‘ in achieving the intended results. Many of the pains of sales-marketing misalignment exist across most organizations. If nothing else, let these insights inform your prioritization and provide focus heading into 2016. INTRODUCTION JEFF DAY VP of Marketing Highspot @highspot MATT HEINZ Founder and President Heinz Marketing @HeinzMarketing 1 “Making Sales Enablement Work: Nine Must-Haves for the Modern Sales Ops Leader”, Aberdeen Group, March 2015
  3. 3. 2015 STATE OF SALES ENABLEMENT 3 SALES TEAMS PERCEIVED AS NOT EFFECTIVE Across the board, organizations ranked the effectiveness of their sales teams functions pretty low—the majority scored them as “not effective.” Clearly respondents expectations are high and there is a need for increased attention on improving Sales’ performance. But there is a significant gap in reported effectiveness between those companies with focused sales enablement teams and those that do not. Organizations with sales enablement teams scored much higher. 1 4 SALES ENABLEMENT DRIVES REAL IMPROVEMENTS IN SALES Reported business benefit of sales enablement efforts align with key sales performance metrics such as improving conversion rates, sales productivity and ability to sell. 3 KNOWLEDGE IS POWER. CONTENT IS KING. When respondents ranked the activities associated with sales enablement, creating, managing, distributing and presenting content ranked highest. It is clear that quality content and knowledge transfer through training are critical activities that Sales Enablement teams must drive to reach their business objectives. KEY FINDINGS SALES ENABLEMENT FUNCTIONS RANK HIGH IN IMPORTANCE ACROSS ALL ORGANIZATIONS Across all organizations, those activities that were identified as sales enablement ranked very important in their value to the company. Across the board, organizations recognize the importance of sales enablement activities, but few have focused their organization with dedicated teams in order to improve their effectiveness. 2
  4. 4. 2015 STATE OF SALES ENABLEMENT 4 THE MACRO PROBLEM: SALES ENABLEMENT EFFORTS ARE NOT LIVING UP TO EXPECTATIONS B2B companies are struggling to increase sales effectiveness. With 60%-70% of the buyer’s journey happening before a prospect ever talks to sales, sales is in a tough position to increase their effectiveness once they are able to engage with the customer. And according to our study, most organizations are coming up short. Across all respondents, only 48% ranked their sales efforts as effective (4 or 5 on the 5 point scale)—less than half. Surprisingly, those respondents from the sales side of the house, rated themselves worse; only 35% rated their efforts effective or very effective. This is a discouraging sign. But when segmented as those organizations that have sales enablement teams versus those that don’t, 57% of organizations that have sales enablement ranked their sales efforts as effective or very effective versus only 35% for those that don’t, indicating a correlation between the existence of a sales enablement team and a more effective sales organization. SURVEY RESULTS QUESTION How would you rate the overall effectiveness of your company’s sales efforts on a 1–5 scale? All Respondents With Sales Enablement (SE) Teams Without SE Teams 33% 22% 35% 10% 25% Very Effective Effective OK 2015 STATE OF SALES ENABLEMENT 4 Poor Very Poor 15% 33%40% 11% 1%
  5. 5. 2015 STATE OF SALES ENABLEMENT 5 SALES ENABLEMENT EFFORTS ARE FALLING SHORT Similarly, organizations are failing in their sales enablement activities, despite reported high importance. When asked about their sales enablement efforts, only 31% of all companies reported that their efforts were effective (4–5 on a 5 point scale). Only 6% of the population rated their efforts as very effective, while 8% rated themselves on the far other side of the spectrum, very poor. This certainly leaves a lot of room for improvement. 8% Very Poor 23% Poor 32% OK 25% Effective 6% Very Effective QUESTION Please rate how effective you believe your company’s current “sales enablement” efforts are on a scale of 1–5 2015 STATE OF SALES ENABLEMENT 5
  6. 6. 2015 STATE OF SALES ENABLEMENT 6 QUESTION #1 Please rate how important you believe each of the following activities are to the success of your company on a 1–10 scale QUESTION #2 Please rate how effectively you believe your company is currently performing and/or completing the following sales related activities on a scale of 1–10 A GAP BETWEEN IMPORTANCE AND EFFECTIVENESS When asked to rate the importance of sales support related activities, many sales enablement activities ranked high in “contributing to the success of your company.” Unfortunately, most organizations report a stunning difference between rated importance and the effectiveness with which they are accomplishing those activities. Organizations without sales enablement teams report very mediocre effectiveness (scores 5–6) in sales enablement tasks. 0 1 2 3 4 5 6 7 8 9 Training/ Onboarding Producing Content Identifying Best Practices Helping Sales Find Content Measuring Content Effectiveness MEDIOCRITY Importance Effectiveness 8.32 5.58 8.29 6.18 8.18 5.63 8.16 6.08 8.02 5.21 2015 STATE OF SALES ENABLEMENT 6 Organizations without SE Teams
  7. 7. 2015 STATE OF SALES ENABLEMENT 7 QUESTION Does your company currently have some type of defined sales enablement team in place? ADOPTION OF BEST PRACTICES IS LOW Only 14% of respondents have a sales enablement team. This will be an interesting trend to watch. Other studies suggest that sales enablement is on the rise. As we do this study each year, we will track the adoption rate of sales enablement. Yes No Not Sure 14% 62% 24% 2015 STATE OF SALES ENABLEMENT 7
  8. 8. 2015 STATE OF SALES ENABLEMENT 8 COMPELLING BUSINESS BENEFIT That’s the bad news, but the benefits and positive impact on key sales metrics for those investing in sales enablement are compelling and highly encouraging. Despite a current lack of investment in sales enablement, many of these same companies recognize the benefit of effective sales enablement practices. There is also a clear, measurable improvement in results for those with dedicated sales enablement functions. Improving sales conversion rates and sales productivity are top priority objectives for any business team and have a direct impact on increasing revenue. Improving Sales’ ability to sell is inherently beneficial. Both ”improving knowledge” and “delivering quality content” point to a key aspect of sales enablement; coordinating with marketing to create, deliver and train the sales team on quality content, which in turn leads to higher conversion rates and increasing revenue. THE UPSIDE POTENTIAL QUESTION In your opinion, which of the following benefits that could come from a successful sales enablement process do you believe would deliver the greatest value to your company? Select the top three. 0% 10% 20% 30% 40% 50% 60% 70% Improving Conversion Rates Increasing Sales Productivity Improving Knowledge & Ability to Sell Delivering Quality Content %ofRespondents 2015 STATE OF SALES ENABLEMENT 8
  9. 9. 2015 STATE OF SALES ENABLEMENT 9 QUESTION How would you rate the overall effectiveness of your company’s sales efforts on a 1–5 scale? SALES EFFECTIVENESS UP IN ORGANIZATIONS WITH SALES ENABLEMENT Comparing the responses of effectiveness for those companies with sales enablement teams in place vs. those without shows a stark improvement in results: 57% of respondents reported that their sales efforts were effective or very effective for companies with sales enablement teams versus only 35% without. With SE Teams Without SE Teams 22% 35% 10% 25% Very Effective Effective Not Effective 2015 STATE OF SALES ENABLEMENT 9
  10. 10. 2015 STATE OF SALES ENABLEMENT 10 QUESTION Please rate how effectively you believe your company is currently performing and/or completing the following sales related activities on a scale of 1–10 SALES ENABLEMENT DRIVES EFFECTIVENESS IN KEY ACTIVITIES Organizations with sales enablement teams were also significantly more effective (by as much as 25%) on key sales support activities vs. organizations without. 0 1 2 3 4 5 6 7 8 Training/ Onboarding Producing Content Identifying Best Practices Helping Sales Find Content Measuring Content Effectiveness Without SE Team With SE Team Managing Sales Comms. Choosing Technology for Sales Running Email Campaigns for Sales Coordinating Sales Meetings 30% 25% 20% 15% 10% 5% 0% % Improvement
  11. 11. 2015 STATE OF SALES ENABLEMENT 11 QUESTION How do you define sales enablement? Which activities do you believe should be included in sales enablement? 2015 STATE OF SALES ENABLEMENT 11 Sales Related Activities Total Marketing Teams Sales Teams Sales Enablement Teams Making sure sales team can find content 65% 71% 62% 80% Producing materials for sales 63 64 64 50 Identify/implement sales productivity tools 62 64 61 90 Producing content for sales 61 62 57 40 Training and onboarding sales team 61 65 55 70 Identifying best practices in sales 59 54 60 80 Sales playbooks 57 56 51 80 Measuring sales content effectiveness 54 56 47 60 CRM configuration 52 52 46 50 Choosing tech. solutions for sales 48 49 43 50 Email campaigns for sales reps 47 56 47 40 Managing sales team communication 46 46 42 30 SalesEnablementNotSalesEnablement DEFINING SALES ENABLEMENT When asked what activities were included in Sales Enablement the responses were pretty consistent, with some notable exceptions from Sales Enablement practitioners, themselves. In general, activities that the majority of respondents indicated were “in” included content for sales, training sales, identifying best practices and creating sales playbooks. In other words, knowledge transfer, knowledge sharing and tools and processes to identify and share best practices. These are all activities that were traditionally part of the product marketing or field marketing role. And in many institutions, they still are. We’re seeing a small, but meaningful shift in responsibilities from Product Marketing to Sales Enablement. Generally, activities that were left out were those traditionally in the Sales Operations role; CRM configuration, choosing tech for sales, and managing sales communications. The biggest difference in opinion was that Sales Enablement practitioners scored “Producing content for sales” very low. We believe that is because Marketing is still expected to produce the content and Sales Enablement is in charge of training the sales team on it, ensuring they can find it when needed and measuring the effectiveness of it. BEST PRACTICES IN SALES ENABLEMENT
  12. 12. 2015 STATE OF SALES ENABLEMENT 12 6.5 7 7.5 8 8.5 9 Training/ Onboarding Producing Content Identifying Best Practices Helping Sales Find Content Measuring Content Effectiveness With SE Team Without SE Team QUESTION Please rate how important you believe each of the following activities are to the success of your company on a 1–10 scale ACTIVITIES TO FOCUS ON Organizations focused on sales enablement place higher importance on the key sales enablement activities. It is worth noting that three of the top five sales enablement activities relate to producing, distributing and measuring effectiveness of sales content. The activity with the biggest gap between the two segments is measuring the effectiveness of sales content;those organizations with sales enablement teams are 20% more effective at measuring the impact of sales content. RatedImportance 2015 STATE OF SALES ENABLEMENT 12
  13. 13. 2015 STATE OF SALES ENABLEMENT 13 QUESTION How important is having objective quantifiable measurement of the effectiveness of sales enablement to your organization? MEASURING THE PERFORMANCE OF SALES CONTENT Despite a general lack of formal sales enablement functions, most companies still rate the importance of measuring sales content effectiveness as very high. More than 75% of respondents rated sales enablement measurement as important, very important or extremely important. 13% 27% 36% 16% 3% 6% Extremely important Very important Important Not very important Not important at all Not sure 2015 STATE OF SALES ENABLEMENT 13
  14. 14. 2015 STATE OF SALES ENABLEMENT 14 0% 10% 20% 30% 40% 50% 60% 70% Email CRM Cloud- Sharing Shared Drive %ofRespondents QUESTION What technologies is your company currently using to deliver sales collateral to the sales organization today? ORGANIZATIONS STILL REPLY ON ANTIQUATED SYSTEMS TO DISTRIBUTE CONTENT TO THEIR SALES TEAMS More than 70% of respondents rely on email to distribute content to their sales organization. More than 45% of marketing respondents rely on a shared network drive to deliver sales collateral and content. Only 12% have a dedicated Sales Enablement solution in place—possibly another key to the performance gap. 80% Web Portal Sharepoint Sales Enablement Technology 2015 STATE OF SALES ENABLEMENT 14
  15. 15. 2015 STATE OF SALES ENABLEMENT 15 0% 5% 10% 15% 20% 25% 30% One Solution Two Solutions Three Solutions Four Solutions Five Solutions Six Solutions Seven Solutions …And, 55% of respondents have three of more channels for sharing sales content, further complicating the content delivery process for both sales and marketing, increasing inefficiency for the sales organization. 20% 26% 25% 13% 7% 3% 2% 2015 STATE OF SALES ENABLEMENT 15
  16. 16. 2015 STATE OF SALES ENABLEMENT 16 KEY TAKEAWAYS Sales Enablement is growing movement with clear benefits to improving sales effectiveness.1 To achieve similar results, organizations would be wise to: Identify or create a team dedicated to improving sales enablement Develop a charter that focuses on these core activities Establish cross-functional (sales and marketing) support to ensure good alignment and ability to execute Provide the tools, resources and support to be successful Set goals for better sales enablement in 2016 2 Early adopters who have formed dedicated teams to improve sales enablement report much higher effectiveness in sales and sales enablement activities. 3 Across all organizations, sales enablement is seen as a critical business function with meaningful impact on Improving Conversion Rates, Increasing Sales Productivity and Improving Ability to Sell. These have direct impact on both top-line revenue and cost-per-sales which impacts margin. 4 Leading organizations are being successful by creating teams dedicated to Sales Enablement and its core activities including training the sales team, ensuring they have easy access to quality content, developing tools and processes to identify and share best practices and measuring the effectiveness of sales content.
  17. 17. 2015 STATE OF SALES ENABLEMENT 17 For more information on Sales Enablement, including getting started tips and implementation best practices, read “The Definitive Guide to Sales Enablement” online at www.highspot.com/sales-enablement. ABOUT HIGHSPOT Highspot is the industry’s most advanced sales enablement platform, using data science to improve sales effectiveness. With Highspot, sales teams are connected to the most relevant content for each situation, have flexible ways to present content to customers, and gain real-time visibility into whether customers find the content engaging. By closing the loop across marketing, sales, and customers, Highspot uniquely delivers insights that help companies engage more effectively with customers, driving increased revenue and customer satisfaction. For more information, visit www.highspot.com. ABOUT HEINZ MARKETING Heinz Marketing is a B2B marketing and sales acceleration firm that delivers measurable revenue results. By focusing on demand generation, lead management and sales enablement strategy & execution, the experienced Heinz team focuses on helping you build a sustainable, repeatable and predictable engine for sale & revenue growth. Learn more about Heinz Marketing at www.heinzmarketing.com.

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