When your company invests in a new tool such as enablement software, the goal is always to get your money’s worth. Aside from the obvious benefits of aligning teams, why invest time, effort and capital in something if you’re not going to reap the benefits?
Measuring your return on investment (ROI) for tech tools can seem daunting at first. It can certainly take a lot of energy to get your sales and go-to-market teams onboarded and trained on new technology and processes. And because enablement provides so many benefits that are harder to quantify, such as boosting alignment and productivity, it can seem difficult to measure ROI.
If you’re not sure where to begin measuring your enablement ROI, here are three key metrics you can look at to make it simple: platform adoption, content effectiveness and engagement and—of course—revenue.
1. Platform Adoption And End User Satisfaction
Platform adoption is one of the first metrics you can use to measure enablement ROI. Adoption helps enablement leadership to identify how many end users actually interact with their solution as well as how frequently. And platform adoption can have a huge impact on other metrics as well. The data generated by your sales enablement solution, for example, can and should be used to measure the efficacy of your content. However, sellers must actually be adopting and routinely using your solution in order for you to generate reliable data.
Adoption rates can also help diagnose challenges with your specific product. If fewer users adopt your solution than you expect or are more widely utilizing some features over others, you may need to reexamine your onboarding processes or provide additional training where necessary.
Surveying your end users can also provide important data points about their perceived ROI and satisfaction. Some simple questions to ask might include whether your employees find they are saving time, providing better buyer experiences or discovering anything else they might need.
2. Content Engagement And Effectiveness
No matter what industry you’re operating in, content is an important driver of business success. But without the data to prove it, how can you determine if your content is resonating? To determine the effectiveness of your content, engagement is the name of the game. You should be looking at metrics like:
• Content accessed by the buyer.
• Content accessed by the seller.
• Content-influenced revenue.
• Opens by the buyer.
• Content-influenced opportunities.
• Sends or shares.
• Buyer engagement time.
These metrics will help you better understand your enablement ROI by revealing which content is popular with buyers, which is popular with sellers and which isn’t performing.
Marketers, in particular, need insight into the content sellers interact with, as this can indicate the content sellers value the most. The fact of the matter is, customers are more inclined to do business with vendors who deliver highly personalized content experiences. Understanding what content influences opportunities and revenue can empower salespeople to optimize the content they share, accelerate the sales cycle and ultimately win more deals.
Revenue is another crucial metric for determining your enablement ROI. In the most recent Seismic Annual Sales Enablement Benchmark Report (2021), we identified the organizational environments, practices and sales enablement technologies most correlated with successful business outcomes.
We used this information to create a sales enablement maturity index, grouping participating companies into four maturity categories: Laggards, Novices, Performers and Visionaries.
Our report defined Visionaries—businesses at the top of the maturity index—by three major factors.
1. Visionaries make sales enablement a strategic priority across all customer-facing teams.
2. These companies have robust, well-integrated GTM tech stacks with seamless data sharing.
3. Visionaries use these insights to power and scale best practices across their entire organization.
Ultimately, we discovered that sales teams at Visionary companies achieved 121% of their quota in the past fiscal year. Compare this to Laggards, who only achieved 97%.
While there are plenty of factors that contribute to exceeding a quota, there is a direct correlation between boosted revenue and companies that use enablement tools to their fullest advantage. When implemented properly, the right sales enablement strategy and tech stack can be a key differentiator for businesses struggling to make quota.
Platform adoption, content effectiveness and engagement don’t just help enablement leaders measure ROI; they also allow other teams involved in the GTM process to identify trends and patterns that underpin success. By utilizing the data insights provided by an enablement solution, customer-facing teams can replicate and scale best practices to ensure repeat wins.
But the biggest indicator of enablement success is revenue, full stop. Our data demonstrates that when companies implement enablement technology across the entire customer lifecycle and throughout their GTM organization, they’re putting themselves in the best position for a favorable ROI.
This article is written by Forbes and originally published here