What is Revenue Enablement?
Revenue enablement is a term that has its hands in many different pockets, which can make it feel intimidating. But, when you boil it down to its core, it can be defined as a company-wide strategy to put the customer's needs first and equip every department with the appropriate content, tools, communications and means to drive revenue.
If you feel that sales, buyer, and customer enablement all fall under this umbrella, you'd be right. All those efforts culminate in revenue enablement. This overarching approach has several moving parts, but when done correctly, it always has a foundation for creating a better customer experience.
From there, processes are refined, protocols are put in place, departments use sales enablement tools to align, metrics are gathered to improve strategies, and profits go up. It's a giant leap forward in customer-centricity, which not only helps your business tackle customer's problems today, but also in the long run.
What Revenue Enablement Entails
Not only are buyers' demands constantly changing, but their long list of expectations is only growing. They aren't willing to compromise, and why should they? Companies need to place a customer's requirements at the top of their priority list to compete within their markets. With all the choices customers have these days, if they don't feel you fit the bill, they'll simply take their business elsewhere. According to this report, 68% of B2B buyers feel brands must first grasp their wants and needs before committing to a purchase.
Revenue enablement starts with this very idea being communicated company-wide. But this doesn't create effective change unless it is followed up by the right tools and processes to make this idea a reality. The most important place to start is with a sales enablement tool like Showell, and its Digital Sales Room which can gather data points throughout the sales funnel.
Insights can be applied to how marketers craft content for any given interaction and to how salespeople should lead the charge when interacting with clients.
Initiatives for buyer enablement should follow suit, placing importance on creating an easier sales journey for prospects, including a designated hub to access, review and share content easily. Scattered content not only trips your salespeople up, but it's also highly damaging to your prospect's experience.
Continually helping to refine your business's approach to sales, Showell's Digital Sales Room offers a content platform that houses all relevant materials and tracks its impression on buyers. Ultimately feeding data back into content and sales strategies. This hub also makes it easier for salespeople to personalize presentations on the fly, making a more substantial impact on buyers. These insights also help to better prepare your salespeople for what clients want and what their main concerns are.
Customer enablement is the last piece of the pie. This endeavor includes adding value after sales and keeping customers sweet in order to build a long-lasting partnership. This can consist of a pain-free onboarding process, gathering customer feedback, providing educational materials that help them better understand the product or service you're supplying and offering support. Customer enablement is crucial because it's far easier to upsell an existing customer than to spend the hours and manpower to acquire a new client.
Each arm within revenue enablement relies on sales enablement tools like Showell to optimize and consistently provide:
- A better experience that results in more significant sales
- A faster sales journey
- More impactful referrals
- A more efficient way to upsell
- A more thoughtful way to collaborate internally and with buyers
Unsure if you're experiencing data blindspots? Check out our Sales Enablement Guide and get ahead of your competitors!
All these factors culminate in revenue building because, at the end of the day, a customer journey is not isolated to just sales. It seeps into social media, marketing, partnerships, branding, operations and even how you work with dealers. Ultimately a happy customer will always be more satisfied to spend more money with you.
We've seen it – the issue of dealing with silos, inconsistent onboarding, and content not being used by your team. We made a solution with these pain points in mind. Showell is an award-winning tool made to centralize all sales collaterals for easier onboarding, presenting with ease and assurance that you will have nothing but updated content, data to track engagement and activity to understand your prospects better, and so much more.