01 Oct Fueling Explosive Growth with Sales Enablement for Small Businesses
Employing sales enablement for small businesses may seem like a daunting process. But it is increasingly critical as organizations work to stand out in competitive marketplaces. Small organizations looking to provide sales enablement can push through entry boundaries by leveraging strategic small business financing tactics. Working capital can assist with investments in technology, staff, and marketing.
What Is Sales Enablement?
Sales enablement is the strategic process of equipping sales teams with the content, guidance, and training they need to effectively engage prospective customers. Instead of leaving sales workers to their own devices, sales enablement helps fine-tune an organization’s sales process. When it comes to sales enablement for small businesses, organizations have a variety of options. Functions of sales enablement include:
• Creating product-focused content aimed at potential buyers.
• Building handouts and interactive materials for conferences.
• Performing analytics research and delivering actionable data to sales teams.
• Employing customer relationship management systems and similar technology.
• Leveraging training, coaching, and mentoring to invest in sales skills development.
Sales enablement for small businesses works to closely align operations between sales teams and the rest of the organization. When key data and resources are unavailable, your sales team is limited in how it engages prospects. When you break down those walls and support your sales team, you can enable them to work more effectively.
What’s the State of Sales Enablement?
Due to its rising popularity, sales enablement has become a widespread practice. According to CSO Insights, just 19 percent of businesses leveraged sales enablement strategies in 2013. In 2017, that figure climbed to 59 percent. Businesses are putting resources into sales enablement to get more value from their sales efforts. But the increased reliance on sales enablement tactics hasn’t led to a corresponding move toward success.
According to research, businesses are no more effective at employing sales enablement today than they were two years ago. As of 2017, just 5.9 percent of sales enablement strategies meet or exceed organization’s expectations. Another 28.7 percent met or exceeded expectations, creating a success rate of approximately 34 percent. At the same time, complete failure is rare. Only 10.3 percent of CSO Insight survey respondents found that their sales enablement plans met only a few of their expectations.
This data points to an interesting situation when it comes to sales enablement for small businesses. If you aren’t engaging in the practice, then chances are your business is starting to fall behind. However, since organizations utilizing sales enablement are still working on improving their tactics, you have an opportunity to quickly catch up.
Strategies to Employ Sales Enablement for Small Businesses
According to a recent Forbes report, many sales enablement programs fall apart because of poor coordination and collaboration between departments. Disconnects between sales and marketing teams can lead to marketing creating content that isn’t accessible or adaptable. The result is an ineffective, inefficient mess.
An effective sales enablement program applies the skills and competencies of various departments, employing them to create a collaborative program that drives sales growth. A few key tactics to consider, particularly for small businesses, include:
Content marketing: Content marketing is the creation and sharing of online material, such as blogs, eBooks, videos, and infographics. An effective content marketing strategy will generate a variety of materials that sales teams can utilize across multiple tiers of the sales funnel. When considering sales enablement for small businesses, content should be centralized, easy to access, and constantly evolving.
Technology: Providing your sales team with the proper technological tools will drive your team to success. Easy access to smartphones and internet services has led to consumer-like expectations for instant gratification. If your sales team doesn’t have the tools to quickly respond to customer demands, they could miss out on promising leads. Whether you need a customer relationship management suite or an analytics platform, the right technology can go a long way.
Training: You can’t just throw materials and technology at your staff and hope they can make it work. Training is instrumental in getting value from your enablement strategies. Many of your new processes relating to sales enablement will require training for both your seasoned sales reps and new hires.
Funding Your Sales Enablement Programs
All these ideas may sound great, but you aren’t going to get anywhere if you can’t put resources into your sales enablement initiatives. Content marketing, technology, and training can be expensive. There are various small business lending programs that can help you overcome these issues. These short-term financing options are built specifically to spur small business growth by offering small amounts of funding, made available quickly, and paid back in just a few months.
At QuickBridge, we provide smarter funding. Our loan options are designed to match the unique needs, opportunities, and rhythms of your business. We’ll make sure you get the right amount of funding at the right term, so you can achieve your immediate sales enablement goals. Contact us today to get started.