The tide of business is always changing and business information keeps changing alongside as well. From product-related information to selling methodologies, there is a lot that reps need to know about closing deals effectively. And, this is only possible through a sales-readiness program
Sales readiness is certainly a strategy to equip reps with necessary knowledge and skills apart from tools and techniques and make the most of every buyer-seller interaction. It is a 360-degree approach to getting reps well versed about business `and creating confident sales professionals.
Now, there are two strategies that reps must understand to target more deals and that is- Sales Readiness and Sales Enablement. Let us understand the difference below
As both these terms look quite similar to one another, there are some differences between each other and both are crucial for driving successful and engaging sellers.
As mentioned above, sales readiness is certifying whether the sellers possess relevant skills and knowledge to conduct effective conversations throughout the deal’s journey. It is basically making reps ‘sales ready’ to engage in real-world interactions. This can be achieved through regular coaching, training, or assessment.
One of the best sales readiness tools is to have an informative and updated knowledge base with a specialized curriculum on sales activities, learning videos to enhance sales pitches, instructional guides, etc.
On the contrary, sales enablement is the process of providing reps with necessary tools and resources to close more deals. Once the reps are sales-ready, only tools can be allocated to them, which helps them understand customer pain points, product recommendations, etc., and create meaningful conversations with the prospects. Sales enablement tools include a robust sales CRM with enhanced functionalities like contact management, pipeline and forecast management, reports, analytics, etc.
Deloitte report states that customers are shifting from being product and solution-focused to seeking value-laden experiences from start to finish. So, to provide such kind of experiences it is essential to make sellers sales-ready before imparting tools for tremendous business growth and increase in ROI.
Some of the problems experienced by sales professionals are onboarding new hires, addressing skill deficiency, ramping up the performance level of underperformers, etc. And, the right sales readiness initiatives can amp up sales goals, and provide a world-class product experience.
One of the desirable solutions to carry out sales readiness programs in an organization is via learning management systems or LMS software. With an LMS you can execute sales readiness program like
- Deliver personalized or customized product trainings, soft skills programs, compliance training, etc. to the reps with live exercises, assessments, etc.
- Conduct pre and post-sales meeting and initiate knowledge check through polls.
- Provide game-based elements like quizzes with exciting rewards to boost their motivation level.
- Gain action-oriented insights about team performance with dashboards, reports, etc, and track business metrics.
Now, let us look at the benefits of implementing sales readiness program in organizations.
Easy access to training resources
Initiating a sales readiness program using an LMS enables your reps to access learning resources 24×7 anywhere and anytime. Learning materials can include how-to articles, product roadmaps, company policies, key strategies to close deals, etc.,
Sales readiness facilitates providing all the learning resources to the reps so they spend more time selling and less time searching for information.
Improved conversation with prospects
Imagine a situation where your reps try to engage with a prospect and they raise a question regarding the key offerings. But, unfortunately, rep could not address the query properly with the right information.
Sales readiness comes in place to avoid situations like this. It enables you to coordinate with the marketing team to create best-in-class content and train reps on how to use it effectively. When reps can analyze what needs to be done at each buying stage and how to nurture leads, they can produce accurate information at the right time without fumbling.
When businesses prioritize sales training and onboarding strategies, it primarily creates a positive impact on the overall development of the sales reps. When reps are spending more time on sharpening their skills and knowledge, it will boost their productivity, enables them to identify sales opportunities, and improves winning rates. All this reflects in increased revenue growth.
Make intelligent decisions with insights
A sales readiness platform not only provides access to a knowledge hub but it enables sales leaders or managers to track key competencies of the sales teams and give instant feedback to boost their efficiency. By generating reports and analyzing team performance on dashboards, sales leaders will be able to make better decisions and generate actionable insights that add up in extending business opportunities.
Vtiger CRM has an integrated LMS for sales readiness program that manages sales resources on a single platform, build custom training programs with four key modules like Courses, Concepts, Exercises, and Quizzes. Vtiger LMS also has an in-built module for gamified learning like badges, certificates and points.
Vtiger LMS is available as an add-on for Vtiger One Professional and Vtiger One Enterprise editions.
It is free to use till 31 December 2022. Try it out now