Sales enablement is the process of creating a self-service environment for sales teams to be successful, without having to rely on a single salesperson. Revenue enablement is the process of enabling an organization's data infrastructure and business processes so that customers are more likely to buy products and services.
Growth in early-stage companies often comes from a focus on ‘sales enablement’, the process of getting prospects to buy your product. But as companies mature, so do their goals and priorities.
Sales enablement can be used as an effective tool for building relationships with customers, while revenue enablement can help drive revenue growth by optimizing customer experience.
Naturally, every business is looking into what they need to do to stay competitive in today's world. Let's take a look at how these two processes work, and which is a better investment option for your business.
The ROI of Sales Enablement
The ROI of sales enablement is not always very measurable. When you invest in sales enablement, you are creating a self-service environment for sales teams. The success of that system relies on the skills of your team.
Companies struggle to see the ROI when their team is not as proficient at using self-service tools. Therefore, they have looked to complementary methods and processes to drive revenue increase.
Introducing Revenue Enablement
Revenue enablement is a relatively new concept in the business world. It began gaining popularity after many big data breaches, such as those that occurred at Facebook and LinkedIn.
To help ensure customer satisfaction and loyalty, companies are looking into ways to optimize their customer experience.
One way they can do this is by using revenue enablement to enhance digital experiences for their customers.
In summary, revenue enablement is a process that creates a positive customer experience and enhances customer satisfaction. This can be accomplished by creating an environment that feels personal, valuable, and trustworthy for the customer.
It helps lower costs for providers, increases revenue for organizations and customers alike. The key focus of revenue enablement is the goal of driving revenue growth for your company through optimization of the total customer experience.
Why Should Your Company Implement Sales or Revenue Enablement?
Companies are quickly realizing that they need to find new ways to remain competitive in today's world. To do this, they are implementing sales enablement and revenue enablement programs. In other words, they're looking for any and all methods that will enable their sales team or organization to do better.
Although sales and revenue enablement are actually very different, they both can be used as valuable tools for your company.
- Sales enablement can promote brand awareness by driving leads through social media and connecting with potential buyers through email marketing campaigns.
- Revenue enablement ensures that customer experience objectives are achieved through promoting products and services in the right way at the right time on the right channel based on customer behavior data and insights from customer feedback surveys.
The ultimate goal of both revenue enablement and sales enablement is increased revenue for your company - one focuses on making it easier for you to sell your products while the other will focus on how you interact with your customers before they make a purchase decision.
5 Ways to Make Sales Enablement Work for You
Sales enablement is all about facilitating and empowering sales teams. The sales team does their own research and comes up with their own pitch. All they have to do is know what information they need.
There are many ways you can use sales enablement to help your business thrive. Here are a few ideas:
- Create a self-service environment so that your team has the tools they need to be successful without depending on a salesperson. For example, using powerful scheduling and branded video meetings to boost customer satisfaction and increase the productivity of your sales team.
- Provide comprehensive training so that your team knows how to leverage data, identify opportunities, create compelling messages, and more.
- Develop an onboarding process so that new members of the team can quickly learn how to use tools, find key resources and get up to speed quickly.
- Partner with other departments in your organization like marketing or customer success so that they know how best to support your sales team.
- Use sales enablement software.
Related article: 5 Tips For Successful Virtual Sales Meetings
5 Ways to Make Revenue Enablement Work for You
Revenue enablement can help fuel revenue growth by improving and optimizing your customer experience. Here are a few ways you can use to determine if this process is right for your business:
- Identify the business processes that need to be automated.
- Consider how your company's data infrastructure needs to change to support automation.
- Obtain an executive buy-in and determine if it's worth the investment.
- Consult with an expert in revenue enablement.
- Analyze your current customers to see where they are in the buying process.
With the right sales enablement strategy, you can increase performance and drive leads. It all starts with an understanding of what you need to accomplish. Revenue enablement is a different approach, with a focus on improving the customer journey.
The best way to start? Get on the same page with your team and identify your priorities and decide which process will work best for your business and model.
The Right Tools For Sales With Vectera
Do you also want to conduct professional virtual sales meetings, be able to rely on technology, and stay in touch with your coworkers? Then our sales enablement software is for you!
Feel free to contact us to discuss the possibilities for your organization!