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Your Sales Enablement Efforts: Smart Ways to Measure Them

To increase the profitability and development of your business, you want your sales enablement program to be as effective as possible. But how do you evaluate your efforts in sales enablement? To which metrics should your salespeople pay the most attention? 

 

Every B2B marketer now knows that marketing is now a data-driven field. So there are some quantitative and qualitative methods for tracking your findings, proven reasonable, to measure your sales enablement efforts. In this post, let’s check out those smart ways to assess the effectiveness of sales enablement in your sales process.

 

Smart Measurement Strategies For Sales Enablement

 

Maximizing the success of every sales team is the ultimate intention of sales enablement efforts. In sales enablement, an enablement manager provides sales teams with the sales enablement platform, tools, and resources they need – including coaching, content, technology, and other resources. So it’s crucial to assess their efforts to achieve the desired goal. 

 

How will you do it?

 

Let’s learn the significant metrics.

 

1. Measure conversion rates

 

Measuring how many marketing-qualified leads (MQL) and sales-qualified leads (SQL) are converted into paying clients will help a sales enablement manager optimize the strategy. 

 

You may assess the following questions to measure your sales enablement efforts:

  • What were the conversion rates before the sales enablement approach?
  • Since the sales enablement program comes into the picture, how have the conversion rates varied from month to month? 
  • Which sales enablement platforms have improved conversion rates the most? 

Now look at the different conversion rates below:

  • Lead-to-opportunity conversion rate

Every organization has a distinct definition of “opportunity,” but generally speaking, a qualified prospect with a high possibility of closing refers to an opportunity. Hence, the percentage of leads that become opportunities is known as the lead-to-opportunity conversion rate.

 

Lead-to-opportunity conversion rate = (leads converted into opportunities/total leads) x 100.

 

You can evaluate and enhance your performance by tracking this conversion rate. As a result, your pipeline will grow, and your forecasting efforts will benefit.

  • Lead-to-customer conversion rate

How many of the qualified leads result in sales? Yes, this specific conversion method focuses on qualified leads. 

 

The number of qualifying leads converted to actual sales in a given period divided by the total number of qualified leads in the same period is the way to calculate the lead-to-customer conversion rate. 

 

Lead-to-customer conversion rate = (qualified leads converted into sales/total qualified leads) x 100.

 

A sales enablement team’s goal is to boost the lead-to-customer conversion rate, as expressed via the lens of a funnel.

 

The conversion rate calculation is not always as simple as it first appears. Therefore, as a B2B marketer, you must specify your conversion concept before computing the measure.

 

2. Competitive win/loss rate

 

Whether prospects inform you that they’re considering purchasing from a competitor determines your capacity to track your competitive win rate. If you get an unimpressive competitive win rate, figure out what your competitors provide that you don’t.

 

Divide the number of times a team or organization defeated a competitor by the number of opportunities that considered that competitor. It goes like this:

 

Competitive win/loss rate = (number of times your team won over your competitor/number of opportunities considered the competitor)⨯100

 

This data will not only provide you with a performance metric but also enable you to decide where to put more effort.

 

3. Content Effectiveness

 

Content effectiveness is a powerful tool for engaging prospects and educating salespeople. It lets you track and measure the performance of content. Since your sales team and audience have different content types to fetch, keep an eye on both scenarios. 

 

In short:

  • The number of views, the duration spent on each piece of content, the number of downloads, etc., will help you gauge your content performance among your audience.
  • Also, look at how frequently a piece of content is opened, used, or shared to gauge content efficacy and adoption for sales teams.

4. Measure time to quota rate

 

This crucial indicator counts how many days your reps take to meet their sales quota. Track the lengths of the sales cycles for your salespeople before and after following sales enablement, and assess which sales enablement technologies are the most successful at shortening the cycles. 

 

After onboarding, add up the total number of sales cycles needed for each rep to reach their quota, then divide that total by the number of reps you’re tracking.

 

The calculation should be this way:

 

Time to quota rate = (total number of sales cycles per rep/total number of reps)⨯100

 

Before implementing new sales enablement tactics, it’s necessary to compare average sales cycles and continue to do so every month.

 

5. Quota attainment for reps

 

Quota attainment offers a standardized way to assess the performance of your sales force in relation to its goals. Each rep must reach their individual sales quota for your team and business to reach the collective quota. 

 

So, how will you measure it? Divide the actual sales for each rep for a given period by their quota for that same period. It goes like this:

 

Quota attainment rate = (Number of actual sales/number of target sales)⨯100

 

As your business expands, more sales staff are divided and frequently held to various selling standards. But ensuring that your quota strategies align with your company’s goals will assist in standardizing and incentivizing your team members.

 

6. Generate your NPS

 

You can use an employee Net Promoter Score, or NPS, to measure the experience and satisfaction of your staff with your business. You may run a survey by creating a simple poll to determine the sales team’s likelihood of selling your products or services.

 

Utilize the survey to get more information, such as: 

  • What subjects do the reps want to be covered in sales training?
  • What information do they believe is the most useful?
  • What else do they want to get from your sales enablement team? 

The likelihood of high rep turnover (the voluntary exit of sales reps from a company) decreases as employee satisfaction increases.

 

These smart sales enablement indicators give you valuable data on whether your marketing and sales initiatives are getting better or worse over time. You can also evaluate the impact it has on your overall company results. Since it involves more than just examining the individual parts, you must measure the crucial metrics for further improvement.

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