The Pareto principle, also known as the “80/20 Rule”, states that 80% of the output from any given situation is caused by 20% of the input. For example, a company might find 80% of their business is generated from 20% of its customers. The Pareto principle can also apply to sales and marketing teams with 20% of high-performing sales reps generating 80% of revenue or 20% of marketing content driving 80% of deal progression.
I know what you’re thinking. For sales managers, it’s: How can we bring the other 80% of sales reps up to speed with the high-performers so everyone is bringing in more revenue? For marketers, it’s: How can we create more content that gets used? Two words: Sales Enablement.
SALES ENABLEMENT FOR SALES MANAGERS
If you think of your sales force in the context of a bell curve, imagine your top performers on the right-hand side and the rest of your sellers on the left. The goal of sales enablement is to move your average sellers over the hump, from left to right, and get them to start selling like a top-performer.
Your top sellers are able to confidently articulate the value of your solution in the context of what is important to the buyer. Buyers have changed, and they expect more than a static pitch deck showcasing product features. They expect engaging, interactive sales discussions that address their challenges while communicating the value your product or service will bring to their business. Sales enablement provides the tools, tactics, and technology needed for new and average sellers to elevate their sales sophistication for improved buyer experiences and increased success.
Sales enablement helps reps enhance their sales effectiveness by putting the most relevant and recent collateral in their hands at the “moment of truth.” Having a single repository that is accessible online or offline allows sellers to quickly find content to match the buyer’s needs at the moment they’re asking for it and ensures buyers are always receiving relevant, accurate, and engaging content. Backed by machine learning, sales enablement technology recommends content for your specific opportunity based on what’s resonated in the past with similar buyers in the industry or role.
Beyond accessible content, customizing presentations in real-time to speak to buyers’ needs helps build buyer satisfaction and loyalty. Customizing presentations with interactive tools enable reps to quantify the differentiating value of the product/solution being sold and the economic impact it will have on the buyer’s business.
Buyers are no longer interested in building relationships or receiving high-level product information they can find online. Modern buyers expect sellers to teach them something new and show how their product or service will impact the buyer’s business. In order to do this, marketing must equip sellers with easy access to interactive content that resonates. Which brings us to our next topic:
SALES ENABLEMENT FOR MARKETERS
Regardless of your company’s industry or size, all marketing teams face similar challenges. According to SiriusDecisions, 65% of content is never used by sales. That accounts to a lot of lost time, resources, and budget. To fix the problem, marketers need to ensure they’re creating and optimizing content that drives deals forward, so sales will actually use it. How do you ensure your content drives revenue?
Sales enablement allows marketing to measure which content is being used by top-performing sales reps to close deals and move buyers down the funnel. With this data and insight, content creation and content roadmap development become significant.
By providing sales more content that resonates with buyers and spending less time developing ineffective content, sales is more likely to use the content and the content is more likely to help move deals forward. This feedback loop is imperative in shaking up the 80/20 Rule and seeing a change in sales effectiveness.
To learn more about increasing the output from your team’s input, contact Mediafly.