June 2020 Sales Enablement - regalix.com€¦ · A sales enablement platform with a content management solution can ensure that all resources are stored in one place and organized

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THE CxO GUIDE

www.regalix.com

June 2020

Sales Enablement

Enabling Sales Teams for a Product Launch

2 CxO Guide to Sales Enablement -Enabling Sales Teams for a Product Launch

IntroductionYou have a new product to launch, and it promises to be a game-changer for your company. You are excited, yet worried at the same time. You know that B2B selling has become an exceedingly complex process in recent times. A majority of buyers (61%) have said that their purchase cycle has gotten longer compared to a year ago.1 The number of people involved in a purchase has climbed from an average of 5.4 in 2015 to 6.8 in 2017.2 In fact, 77% of buyers have rated their latest purchase experience as extremely complex or difficult.3 As you go forward with the launch, your only dependable ally will be your sales team. How effectively you enable your sales team will determine the success of your new product’s launch. In this guide, we cover all the things you need to do to effectively enable your sales team for a successful product launch.

How to enable the sales team Pre-launchGather the required tools and technology: With an enablement platform, reps can engage more meaningfully with buyers by delivering the right piece of content to them at each stage of the buyer’s journey. Look for an integrated enablement solution that also meets your training needs and delivers on your strategy.

Ensure sales and marketing are aligned: The alignment of sales and marketing is critical to a product launch. It provides the company with different perspectives on the sales process, which, when integrated, ensure that sales conversations stay focused on the specific needs of the buyer. Sales enablement solutions help in building greater alignment between the two teams.

Develop supporting enablement assets: Have your sales playbooks, battle cards, sample talk tracks and product walkthroughs ready in hand. Identify and create detailed buyer personas. Train and certify your reps on their understanding of these personas. Prepare a product roadmap.

Organize the content: Sales reps have a problem finding the required content when it is spread across multiple sources and formats. A sales enablement platform with a content management solution can ensure that all resources are stored in one place and organized for easy access.

CxO Guide to Sales Enablement - Enabling Sales Teams for a Product Launch 3

Train the sales teams: Ensure that your training programs include both product and sales training. Address factors that influence purchase decisions. Customers rank some benefits higher than others. Train the reps to sell benefits that resonate with your buyers instead of merely selling product features. Ensure that the sales reps are trained to handle objections and work their way around to closing the sale. (Training will be covered in further detail later in this guide.)

Implement, analyze and iterate: Sales enablement is a dynamic process. Tools, processes, content delivery systems and strategies get refined continuously. So, you need to track, analyze and improve upon your sales enablement program continually. Validate what works. Iterate the good, drop or change the bad. Over time, your sales enablement strategy will become more refined, streamlined and easier to execute.

Collaborate with subject matter and product experts: SMEs can be roped in to provide technical expertise. They can explain to the sales team the nuts and bolts of the product. They can also help in identifying the most relevant features that reps can highlight in their sales conversations. SMEs contributing their voice and knowledge directly into a presentation or video can add authenticity to the product claim.

Use your internal FAQ checklist to answer queries: Sales reps appreciate having a list of product FAQs with answers. The FAQs would typically cover a brief description of the product, its various features, key differentiators, pricing details, the key messaging, information on launch promotion plans and links to resources. The PR and customer support teams would also find the FAQs useful while preparing for their roles in the launch.

Choose high performers for the launch rollout: Put your best salespeople to work in launching the product. Choosing high performers for the launch rollout allows you to test the level of product acceptance amongst buyers and gauge the effectiveness of the sales enablement content.

Post-launchMeasure outcomes: Set quantifiable goals and measure the success of the launch against them. New orders from existing as well as new customers; number of leads, demos and downloads; and conversion rates are some of the quantifiable metrics that could help you measure the effectiveness of your sales enablement efforts. You would also do well to include qualitative data, such as feedback from customers on the demo, as part of your KPIs.

Engage with every opportunity: Launches lead to higher brand awareness, so you might have an influx of enquiries after the launch. Ensure that your teams are well prepared to address the new leads and engage with every opportunity that arises. A new product launch could also provide a reason to re-engage with customers who may be at a risk of churn.


TrainingKeys to effective training

In the training context, it should be remembered that learners will forget an average of 90% of what they have learned within a week. This is called the ‘forgetting curve’ (Figure 1).

Figure-1

The forgetting curve

1 2 3 4 5 6 7 8

Days after training

Mem

ory

rete

ntio

n(%

)

Source: learningsolutionsmag.com4

To combat the forgetting curve, keep the training content easy to comprehend and relevant, customizing it to meet the learning needs of individual reps. Make the content interactive, as interactive content engages the participants more actively and helps in the learning process. Finally, reinforce the learning through frequent training interventions to enhance recall in the participants (Figure 2). A good enablement solution with training capabilities would allow the use of interactive content and support continued learning.


Figure-2

Reinforcing the training

100%

80%

60%

40%

20%

1 2 3 4 5 6 7

Time

Mem

ory

rete

ntio

n

Source: elearningindustry.com5

Here are some tips for effective training:

• Keep lessons to less than 30 minutes: Lengthy training sessions can be distracting and unproductive. Training experts recommend microlearning techniques that break down lessons into small chunks of 10 to 15 minutes, ensuring high engagement and retention.

• Invest in learning experiences such as VR: Virtual reality is emerging as one of the most effective sales training tools. VR enables salespersons to simulate public speaking and engage in “true-to-life” case studies that test the reps’ emotional quotient and sales preparedness.

• Use just-in-time training: Ensure sales training content and sales aids are available online and on multiple types of devices. If sales professionals can access product information quickly and easily, they are more likely to use it, even when they are on the road.

• Product refresher training: Product knowledge training is ongoing. If salespeople aren’t selling certain products or features actively, they will need reminders on what those products or features are and what customer


problems they solve. Integrate training into your organizational culture so that employees seek training when they need it.

• Use quizzes and games to increase recall: Regular assessments provide an effective approach to enable sales teams to recall essential information. Space out the regular reinforcement of information with quizzes and games in between. These interventions will help reps remember what they have learned.

The importance of videoIt has been reported that 90% of information transmitted to the brain is visual, and visuals are processed 60,000X faster in the brain than text.6 This makes visual content, particularly video, a strong contender for training sales reps; a whopping 81% of companies use videos for sales enablement.7 Video allows us to show viewers how to do something and how things work. When limited to written text, it is hard to provide visual examples, and there is room for misinterpretation.

Here’s why video is essential to sales training:

• Video is on-demand and searchable: Large companies have workers spread across the globe. It’s often difficult to update every member of the team simultaneously. Instead, on-demand video can be used for such communication without sacrificing the personal element of the messaging, which every employee can access from anywhere. Multi-language captions can be added for non-English speakers. Video platforms also enable users to search content by keywords and topics, thereby making navigation easy on the platform.

• Video is secure: Online videos can be just as secure as hard documents. Some video platforms allow you to place administrative controls on each

video clip and set unique passwords that viewers must enter before accessing the clip.

• Video is a great alternative to one-on-one sales coaching: For companies with multiple sales locations, one-on-one coaching is not a viable option. Instead, reps can rehearse and film their own pitch on video and let their managers review the pitch for them.

• Video offers further reinforced learning: Videos are no longer a passive viewing experience. Reinforcement in video-enabled sales training can take the form of in-video questions, timeline-based comments, discussions and links. As a reinforcement tool, trainees can create and share their own videos to discuss and develop good sales techniques with the rest of the team.

• Videos are easy to make: Creating videos is no longer expensive or complex. They can be shot on phones. With a secure learning portal, all sorts of video content can be created — not just to lecture the trainees but to help them express what they’ve learned and get feedback from the teams.

With that said, the optimal training strategy includes collaterals of various forms and formats, and must not be limited to just video. Let’s take a look at some of the elements of an effective training strategy.


The ideal product training mixProduct training focuses on educating sales reps on the features and benefits of the new product. It’s a training on the nuts and bolts of what you want them to sell. Here are some elements that you might want to consider including in your training program:

• Modules for self-study: While trainers may prefer on-site training, the cost often makes it prohibitive. Moreover, it may just not be possible at times, like in the current pandemic. Under such circumstances, you can consider training the reps remotely and combine it with modules for self-study to provide reinforcement. This can have a significant impact on learning outcomes. Integrated sales enablement and training platforms allow you to assign sales training courses to individual reps and track their proficiency with ease. Quizzes and knowledge checks can be included to ensure that reps understand what they are learning.

• Live or recorded webinars: When launching a new product, thick binders of text may not grab your reps’ attention. Instead, consider incorporating video webinars into your training to keep them engaged. Invite your marketing and product teams to share their perspectives on the new product. Consider creating video testimonials of customers who may have tested and found the product to be of interest to them.

• Battle cards: Battle cards contain critical information on your product, customers, and competitors in the form of text, graphics, or videos. They help educate customers about why you’re different from the competition, why they should choose you, and the major benefits and outcomes you offer.

• Video coaching: One of the best ways to build rep confidence is video coaching. The simple act of asking reps to “say it out loud” can boost learning speed by up to 15%.8 Video allows your reps to record as many takes as they’d like when practicing new product pitches. Have your reps record a video and submit it to their managers for feedback before meeting with buyers. Modern sales enablement solutions come with video coaching tools that include AI-powered analysis to evaluate reps’ video coaching submissions for coverage of key topics, speaking rate, and other parameters; this can help managers quickly identify how well teams are delivering the new product messaging.

• Knowledge base: A knowledge base is an online resource library for your customers. However, your sales reps can also use them. With quick access to educational content, they have a comprehensive resource to answer unexpected questions. An online resource library also makes your product easier to sell to prospects.


The ideal sales training mixWhen your sales reps know how the product works, it’s time to train them on how to communicate the benefits of the product to the buyer.

Sales enablement collateral: Sales enablement toolkits must equip your sales teams with core sales collateral that cover key product features and benefits. Additionally, your content should include an added-value guarantee that covers buyer persona definitions, competitor offerings, and solution-focused scenarios (Figure 3). Such content allows reps to be more strategic in their sales techniques. Moreover, a complete portfolio of sales enablement content gives your teams the tools they need to address objections and sell the product based on its benefits to the customer.

Figure-3

Core and added-value collateral

• Master sales presentation deck

• Testimonials

• Customer stories

• Product/service one-sheet or sell sheets

• Standalone image collection (photos or illustrations of your product/service that can be attached to emails or used in other content)

• Profile cards of top competitors

• Pricing sheet

• Industry or vertical-specific one-sheets

• Master sales proposal template with content blocks for commonly used sections

• Industry- or buyer-persona-specific sales deck

• Data sheets with customer success statistics

• Case studies

• Overview videos to educate about products/services

• Tutorial videos, scenario videos highlighting products and services uses

• Research reports

• Pricing calculator

• Data sheets with industry statistics

• Thought leadership content such as white papers, ebooks, manuals, and guides

CORE COLLATERAL ADDED-VALUE COLLATERAL

Source: blog.atrivity.com9

Scripts and talk tracks: Live call execution is one of the key success factors that drive sales development. It’s also the top challenge for 36% of sales development leaders. However, organizations with a prescriptive and repeatable approach to executing effective calls and touch patterns achieve quota more regularly.10

9 CxO Guide to Sales Enablement - Enabling Sales Teams for a Product Launch

Figure-4

A typical sales call script template

I appreciate your time.

Please feel free to visit our website if you change your mind or if you have any questions.

Great! We specialize in providing the tools your team needs to be successful and productive in the easiest way possible.

One of our partners is going to be in your area on [Date]. She would love to swing by and give you a little more information. It shouldn't take more than a 10-minute chat. Does [Time] work for you?

This is what we can do for you... Is that something you're interested in?

Perfect! Let me get a little more information from you...

Hi! This is [Nicole] from[Pens-R-Us].

I'm calling to speak to [Shannon] about our innovative new product: the pencil — an erasable writing tool to help out those of us who are less than perfect. Is yourdepartment looking for a way to reduce those pesky ink stains and high correctional tape prices? Can I tell you a little more about what we do?

YesYes

Yes

No

Yes

It will not only save you money, but it can also increase productivity amongst your team members!

Let's clear up a few of your concerns...

No No

No

Source: lucidchart.com11


Sales playbooks: A sales playbook provides sales reps with content that they need to engage with a buyer. It includes pre-defined scripts and responses that a sales rep can use during different stages of the sales process – from finding leads to moving buyers through the sales funnel to closing a deal. You need to create playbooks that address different buyer profiles.

Buyer personas: The foundation for buyer-responsive selling is a thorough and actionable understanding of the buyer. Buyer personas are a means to this end. It defines who the buyer is, what they care about, how they behave, and why they buy — all necessary information for the sales rep. A buyer persona is a guide to maximize the relevance of sales activities from prospecting to close.

The trusted advisor: When interacting with buyers, reps need to play the role of a trusted advisor. Customers look for answers to questions that might range from, “Will I have a dedicated account manager?” to “What’s the protocol if there’s a product outage over the weekend?” Help reps understand the features in terms of how customers use them. Your sales team should be able to empathize with their prospects, identify their pain points, and find solutions to their problems. They need to move from being a mere seller to being a trusted advisor to the customer.

Role-playing: Role-playing can help sales reps prepare for unfamiliar or difficult sales situations. It can also help them with their general level of communication skills, and provide them the opportunity to explore areas such as non-verbal communication and the effective use of language in the sales process. Through role-playing, sales reps can develop their emotional intelligence, and further their skills of active listening.12

Case studies: Case studies provide practical context and make it easier to remember features and tools because reps understand how the product is used in practice. Also, reps can use case studies in their sales process to build credibility and develop customer trust.

Recordings: Get salespeople to listen to and provide feedback on the recordings of their colleagues on calls. With actionable input from peers, reps can use specific tips to facilitate sales. Listening to recorded calls is particularly useful for sales development. Just posting recordings is not enough; analyze them in one-on-one sessions and with the entire team in weekly meetings.

Shadowing: Another great way to train is to have a sales rep observe the sales calls made by more experienced salespersons. These calls can be linked to specific plays and sales stages. Shadowing exercises like these have a greater impact when supported by guides who provide structured assignments, lay out clear shadowing objectives, point out actions to observe, and have debriefing conversations to ensure productive takeaways and learning transfer.

Pitfalls to avoidImproper information sharing with reps: When provided with too much information, reps tend to communicate most of what they learn at the time of selling, often overwhelming the buyer. At the same time, too little information can leave them inadequately prepared to answer the prospect’s questions. Therefore, it’s essential to strike the right balance when it comes to providing information to the reps.

Focusing entirely on content management for enablement: Providing content to the buyer, such as manuals, white papers, and FAQs, is a big part of sales enablement, but it isn’t all of it. Internal processes and support functions are also important pillars in a sales enablement program and require attention. Sales training, social media listening, researching buyer behavior, building media relations, and evaluating and implementing technology are some of the other activities that determine the success of an enablement program.

Not providing consistent training: Training requires commitment and should not be seen as a one-time effort. Consistent training ensures that reps retain a major portion of what they learn. A culture of continuous learning should be built within the organization. Investing in a smart enablement solution can help in training the sales teams in an ongoing, systematic way.

Laying too much emphasis on the product: While it’s important to train the sales reps on getting to know the product, it is an equally important task to teach them how to sell it. Sales teams need both product and sales training to be effective on the field. With a new product, sales teams may face objections from prospective customers for which they might not have appropriate answers. While training the sales teams on product selling, a detailed list of such possible objections from customers should be raised and convincingly answered by the product team.

Did you know?Every year, over 30,000 new products are launched — 95% of them fail.13

ConclusionThe success of a new product launch depends on how prepared your sales teams are to go to market with it. Their sales readiness, in turn, depends on how effective your sales enablement efforts have been. In this guide, we have laid out the grounds you need to cover to enable your sales team for a product launch. Training the sales reps on the product, creating a portfolio of sales enablement content, and investing in a robust enablement solution with training capabilities are some of the key steps that we advocate. What matters finally is the conviction with which the sales teams approach the buyer. So, get them excited about the product. Incentivize them generously. And then, watch the sales roll in.

Did you know?$15 million is the average cost of launching a new product.14

References:1. http://e61c88871f1fbaa6388d-c1e3bb10b0333d7ff7aa972d61f8c669.r29.cf1.rackcdn.com/

DGR_DG081_SURV_B2BBuyers_Jun_2018_Final.pdf

2. https://hbr.org/2017/03/the-new-sales-imperative

3. https://www.gartner.com/en/sales/insights/buyer-enablement

4. https://learningsolutionsmag.com/articles/1379/brain-science-the-forgetting-curvethe-dirty-secret-of-corporate-training

5. https://elearningindustry.com/forgetting-curve-combat

6. https://movableink.com/blog/29-incredible-stats-that-prove-the-power-of-visual-marketing/

7. https://www.regalix.com/insights/state-of-sales-enablement-2019

8. https://www.eurekalert.org/pub_releases/2017-12/uow-sfr113017.php

9. https://blog.atrivity.com/how-to-train-sales-people-for-successful-product-launches

10. https://6sense.com/wp-content/uploads/2019/07/2019_Sales_Development_Benchmark_Report.pdf

11. https://www.lucidchart.com/blog/sales-call-planning

12. https://www.regalix.com/insights/the-need-for-role-play-in-sales-training

13. https://hbswk.hbs.edu/item/clay-christensens-milkshake-marketing

14. https://www.forbes.com/sites/loracecere/2013/12/11/new-products-more-costly-and-more-important/#1c6a22b86b90

15. https://webbiquity.com/social-media-marketing/33-thought-provoking-b2b-social-media-and-marketing-stats/

Did you know?When it comes to product launches, Twitter is the social media channel of choice for 71% of B2B technology marketers.15

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June 2020 Sales Enablement - regalix.com€¦ · A sales enablement platform with a content management solution can ensure that all resources are stored in one place and organized