One in three sales lost today is due to a simple lack of sales preparation.
For a typical $1 billion company, every year poor sales preparation results in $14 million in wasted sales and marketing expenses — and $100 million in lost sales opportunities.
Those figures, both from the analysts at IDC, provide all the answer needed for anyone who might question why there’s been so much recent buzz around the practice of sales enablement.
These days it’s almost impossible to find a firm that isn’t investigating new technologies, programs, and procedures with the hope of better equipping their sales teams to make meaningful connections with leads and customers, intelligently respond to their needs, and more efficiently and effectively usher them through the buying process.
Yet for all this newfound interest in sales effectiveness, it’s not as if the sales teams of past generations went unmanaged and unmeasured. So what’s so new about the modern practice of sales enablement? And what makes sales enablement different from traditional sales training? Let’s take a look at each.
For all the new tactics and all the new technology, the foundation of building better sales teams continues to be in sales training. But while organizations have been training salespeople for just about as long as there have been salespeople to train, don’t be fooled into thinking there’s nothing new to see here. Modern sales training activities are becoming smarter, more detailed, and more accessible than ever.
At it’s most fundamental, sales training can be defined as any employee training an organization might deliver with the goal of helping its sales teams cultivate and close more and better sales.
In practice, most organizations deliver two types of sales training: Product and Process.
In the past, sales training of just about every type would have been delivered as a classroom training session. For organizations with large or geographically dispersed sales teams, a single session would often have been held multiple times in multiple locations to ensure everyone could attend.
Today, however, technology is enabling more sales teams to offer more training on-demand. With video technology for sales training, sales executives can now ensure their reps have 24/7 access to any knowledge they may need — from the details on the latest product enhancement to step-by-step instructions for adding a customer to a contact follow-up email campaign or another program.
Best of all, according to Brandon Hall Research, on-demand e-learning has been demonstrated to save sales teams up to 35% of the time that would otherwise be required for in-class training. That means sales reps can get back to selling faster.
And because video eliminates the need for trainers to repeat the same sessions over and over, many teams now find their training organization can go deeper than ever, offering more and more detailed recorded tutorials to further improve how sales teams function. For a great example of just how a sales organization can use video to facilitate team member training, check out the sample recording below.
Our customers tell us there are five pillars of sales enablement. And while each organization will identify them a little differently, the core concepts typically break down as follows:
In recent years, video training has proven its worth in just about every aspect of sales enablement.
While video is well-known for its ability to attract new prospects, it isn’t just a tool for marketers. It’s also an excellent way to help sales teams communicate more effectively — with each other and with your customers.
Short of face-to-face conversation, video is the most effective way to share a message. As organizations adopt video, sales teams benefit with anywhere, anytime access to training, tips and strategies, a means to quickly record and share product demonstrations with prospects, a more engaging way to send personalized sales messages and more.
With so many benefits, it’s no surprise video is taking off in sales organizations. The Aberdeen Group has found that many forward-looking companies are already using video across the sales cycle:
Find out how you can use video sales training technology to help your sales team improve its effectiveness — download our latest white paper: 18 Ways You Can Boost Sales Enablement With Video
And if you’d like to learn more about how video can help your business better prepare your sales reps for success, contact our team to sign up for a free 30-day trial today.