What is Sales Enablement?
The role of a sales enablement team is to provide resources, tools, and content to help sales reps onboard faster, convert more customers and increase the number of closed deals.
Sales enablement activities include creating content assets such as scripts, email templates, case studies, and whitepapers that help with customer conversion. At the same time, another element of sales enablement efforts is onboarding and training sales reps and generating sales training material.
The Sales Enablement Metrics you should be tracking
Once you have a sales enablement strategy in place, the next step is to align the success and effectiveness of the program with business goals. The performance of a sales enablement program directly affects the sales metrics and KPIs – that are tracked by all sales leaders.
So, here are the most important metrics you must monitor to keep a pulse on sales rep performance and sales results.
After you First Onboard a Sales Rep
- Meetings Set
Tracking the number of meetings set by sales reps is a good indicator of how much new business is being generated and consequently shows how effective your outreach processes are.
- Opportunities Created
In addition to meetings, the number of opportunities your outbound efforts generate is a good way to track how accurately your team can identify and qualify new business.
- Time to first deal won
A great way to track the effectiveness of your onboarding program is by measuring the time it takes your new sales rep to win their first deal. Effective training should ideally lead to a shorter time to the first deal won.
- Quota Attainment
Your sales reps might be setting meetings and creating opportunities, but one of the key metrics to consider is whether they can achieve their quotas. The number of deals each sales rep brings in can easily be tracked using a CRM tool like Salesforce or Hubspot.
- Time to Quota
Often called ramp-to-revenue time, this signifies the time it takes for sales reps to ramp and start contributing to revenue fully. This metric is critical when considering the high cost of hiring sales reps.
- Average Win Rate
The win rate is calculated as the total number of opportunities won divided by the total number of opportunities. It shows you the percentage of deals your sales rep has won over a given period of time and hence is a key indicator of success. Your chosen CRM tool should be able to calculate this number for you quickly.
- Average Deal Size
Average deal size is the total sale amount, including discounts, averaged for a specific time period. This metric helps understand how often your sales reps are forced to add discounts into deals and if your add-ons and services are effective enough in increasing the value of your sale.
Overall Sales Team Performance Metrics
- Lead-to-Customer Conversion Rate
This conversion rate is a valuable metric in determining the efficiency of your entire sales cycle, from a prospective lead to a closed deal. Setting a benchmark lead-to-customer conversion rate may be helpful in quickly changing and adapting processes if the number dips.
- Length of Sales Cycle
The sales cycle length depends on several factors, but it is essential to understand how sales enablement can help reduce the time it takes to close deals. Tracking the length of your sales cycle can help you find areas of friction that can be improved with additional support and improvements to processes.
- Tool Adoption
Sales technology is constantly evolving, and most teams use several tools to manage sales funnels and enable better selling. An essential function of sales enablement professionals is to increase ROI from these tools by ensuring that reps are utilizing these technologies and have the proper training to use them. This is easy to measure using data on logins.
- Internal Sales Team Satisfaction
It is important to know if your reps are engaged and have the resources they need to be successful. A great way to measure the confidence and satisfaction of your salespeople is by doing regular pulse surveys using experience or NPS metrics.
Evaluate and adapt your metric tracking system
While these metrics are a great starting point for measuring success, these are not the only metrics out there. Sales processes for businesses are different and might require tracking various other metrics in order to align with sales KPIs.