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Revenue Enablement

Revenue Enablement: Balancing Strategy and Execution to Drive Results

The need for revenue enablement teams is more critical than ever. Organizations with sales enablement achieve a 49 percent win rate compared to 42.5 percent for those without. A successful enablement strategy arms your sales reps with the tools, training, and resources they need to succeed. So what are the characteristics of successful enablement pros, and how can teams measure the impact of their programs?

These were discussion items in a recent webinar with Stephanie Middaugh, Director of Enablement at WorkRamp, and Lish Barber, GTM Enablement Leader at Lattice. During the event, the two enablement experts answered questions about team structure and characteristics, how to measure the effectiveness of your enablement program, and how to get buy-in from key stakeholders.

This post summarizes the Q&A and expert insights. If you want to learn more, watch the on-demand video here

Balancing strategy and execution

Enablement pros often debate whether it’s more important to be strategic or tactical to see results. Stephanie and Lish agree that you need a balance of both–and you can’t have one without the other. To have a robust, impactful enablement practice, you have to think on both sides of the coin. Ask yourself: ‘What do I need to execute tactically to get my job done? And then how do I plan strategically to support my revenue organization?’

The first step is to define what strategy really means. You need to have a plan, a purpose, and a reason for what you’re doing. But beyond that, it’s essential to have the execution piece on the other side, and you need to have a service-first mindset.

Essentially, you can’t have one without the other. A sound strategy works as your north star and helps keep you focused, but you must be able to execute to see results. Lish shares how the two skill sets come together: “The strategy is important to have, but the execution is actually where the magic happens, where the learning happens, and where the outcomes happen.”

How to measure the effectiveness of enablement

There are several sales enablement metrics that you can track to glean insights into how your reps are performing and the overall effectiveness of your program. Data is essential to understand results, make decisions, and communicate performance to your organization. Some of the most commonly-tracked enablement metrics include:

  • Win rate
  • Quota attainment
  • Lead-to-opportunity conversion rate
  • Average selling price
  • Sales cycle length

When it comes to enablement teams, however, the specific metrics and KPIs depend on your organization’s goals and who you report to. For example, Lish shares that the two most important metrics for her organization are Annual Recurring Revenue (ARR) and Net Revenue Retention (NRR). These metrics help determine the following: Is there good customer retention, and is there growth? Of course, this also involves looking at the entire customer life cycle, not just new customers, but if the organization is retaining the new customers they’re bringing on.

Lish and Stephanie explain that ensuring that every initiative aligns with the company’s business goals is also essential. For example, if you’re creating a new customer persona, you may create an entire training program around who they are, what they care about, and what solutions your product provides. From there, you need to define what success looks like for this training initiative and then track the metrics that will answer that question. For example, track the number of meetings, where opportunities get held up, and the ARR and impact of this initiative. 

Enablement needs a seat at the table

Sales enablement is a relatively new function, but it’s growing rapidly. Enablement adoption has increased 343 percent in the last five years. However, if enablement is new at your organization, you may not know how to get buy-in from executives or the best way to get involved and communicate with stakeholders. Stephanie explains that an enablement team needs to be included in top-tier discussions early. “Enablement needs to have a seat at the table,” she says. “At the very least, we need to be a fly on the wall when some of these large decisions are happening because we need to put those plans into place and start turning those wheels.” 

Lish agrees that the earlier enablement is in the conversation and understands the problem that needs to be solved, the less the team needs to play catch-up. It’s essential to ensure that your stakeholders communicate their needs and that you let them know the assets your team needs and the time you need to create the right training program for the desired outcome. Without that relationship with your stakeholders, you can’t personalize the content you’re building or the solution you’re creating to the specific team that needs it.

Empower your team to create results

An effective enablement team can drive real results. In fact, 76 percent of organizations with an enablement function see an increase in sales between 6 percent and 20 percent. Continuous learning is the foundation for a successful team. Learn more about how WorkRamp’s All-in-One Learning Platform can help you empower your enablement team to succeed

Watch the full webinar with Stephanie and Lish here. If you’re ready to get started with WorkRamp, request a free demo.

 

Maile Timon

Maile Timon is WorkRamp’s Content Strategist. She has more than 11 years of experience in content marketing and SEO and has written for several publications and industries, including B2B, marketing, lifestyle, health, and more. When she’s not writing or developing content strategies, she enjoys hiking and spending time with her family.

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