The success of sales enablement teams depends on how well they use sales enablement tools and resources. However, equipping them with resources and training doesn't guarantee results. So, how do you know that the resources you’re providing your sales teams are working? How do you know they’re being used optimally? This is where sales enablement metrics come into play. These metrics help businesses measure the impact of these resources and understand how well the sales enablement works.
In this guide, we will discuss what sales enablement metrics are, along with some sales enablement metrics you must track.
What are sales enablement metrics?
Sales enablement metrics are measurable data points used to evaluate the effectiveness and impact of sales enablement efforts. These metrics help businesses determine how effectively tools, resources, and training programs support sales teams to drive higher sales.
There are two types of sales enablement metrics.
Leading indicators: Leading indicators are predictive metrics that give insights into the future performance of your sales teams and help you understand how well your strategies would work in the future.
Lagging indicators: Lagging indicators are outcome-focused metrics that reflect past performance. These indicators measure past performance and give insights into what has occurred and how well the sales enablement strategies work.
Qualitative vs. quantitative sales enablement metrics
In terms of kinds of sales enablement metrics, they’re majorly of two types. Let’s explore them:
1. Quantitative sale enablement metrics: Quantitative sales enablement metrics focus on data that can be measured in numbers. These metrics give a clear, data-driven understanding of the performance and outputs, making it easy to make decisions.
2. Qualitative sale enablement metrics: Qualitative sales enablement metric gives insights into the subjective aspects of sales processes, such as feedback from sales reps and customer surveys. These metrics help to understand the “why” behind behaviors and outcomes and give context that numbers don’t provide.
For example, if sales confidence scores are low, it might be because the reps lack product knowledge or are not well-prepared to answer customer queries. Therefore, by gathering qualitative feedback through surveys, you get a better understanding of the challenges faced by the sales team and can work on finding ways to help them improve.
According to the Sales Enablement Landscape report, 60% of respondents say qualitative and quantitative are equally important, while 30% prioritise quantitative data, and 10% voted for qualitative data.
5 sales enablement metrics to track
Some of the important sales enablement metrics you must track include:
1. Win rate
Win rate is defined as the percentage of sales opportunities that are converted into closed deals by your sales teams. It helps you understand how effectively your team turns leads into customers. A high win rate indicates your sales team is able to close more deals whereas a low win rate suggests your sales team suggests your sales teams need better sales enablement in terms of resources or training.
Win rate = (Number of closed deals/ Total number of opportunities) x 100
For example, if your team handled 20 sales opportunities and closed 5 deals, the win rate is calculated as follows:
Win rate = (5/ 20) x 100 = 25%
2. Quota attainment
Quota attainment measures how well sales reps meet or exceed their assigned sales targets. It helps you determine if your team is achieving the specified targets and identify the reps who are doing well and who need support. This helps you assess the requirements of those specific sales reps and provide them with better training or resources they may need for achieving their goals.
Quota attainment = (Sales completed / Sales target) x 100
For example, if your sales target is $50,000 and sales reps make $ 45,000 in sales, quota attainment is calculated as follows:
Quota attainment = (45000/ 50000) x 100 = 90%
3. Sales confidence score
The sales confidence score measures how confident your sales team is to sell products and services. A confident team is likely to perform better and close more deals. This gives you an understanding of the quality of sales enablement resources available to your sales reps. A low confidence score suggests that you need to provide them with better resources that make them more confident in dealing with prospects. This could include better training, courses and answers to common doubts that prospects may have.
To measure sales confidence score, ask your sales reps to rate their confidence on a scale of 1 to 10. Next, calculate the average of the scores to get a sales confidence score.
Suppose your sales team reps rate their confidence as 8, 9, 7, 6, and 8.
So, the sales confidence score = ( 8+9+7+6+8)/ 5 = 7.6
If you’re conducting a sales confidence score survey, you can use email marketing to do so. You can create interactive NPS surveys that allow your sales reps to submit their responses within the email itself. With Mailmodo, it takes only a few minutes to create such interactive surveys, thanks to their drag-and-drop email builder.
Create and send AMP emails without coding in minutes
4. Tool adoption
Tool adoption measures how effectively your sales team is using the sales enablement tools such as content management systems and CRMs that you have provided them. It helps you understand if the tools provided are helping the sales team to accomplish their goals and how they’re using these tools including the specific features they’re using.
5. Content usage
Content usage metrics measure how often and what kinds of content the sales team uses from the pool of resources available to them. It helps to find out if the sales enablement content aligns with the needs of your sales team to engage with potential customers and close deals. Measuring content usage helps track which pieces of content are most used by sales reps and which ones you need to tweak and improve their helpfulness.
You can track how much is a specific type of sales enablement content used by tracking specific actions like the number of views or visitors on that page (if it’s published online), the amount of time visitors spend on the page and the number of times it was shared.
Conclusion
By measuring and monitoring sales enablement metrics, you can understand which sales enablement resources are working and which aren’t. You should include the insights obtained from these metrics into your enablement plans and make necessary adjustments based on the evidence you have. This is an ongoing process that requires a periodic review of the metrics to ensure your sales enablement resources stay relevant, achieve better outcomes and drive higher conversions and revenue.
