We've got great data for you. This year's CSO Insights Sales Enablement Optimization Study revealed groundbreaking insights into the nascent profession, including average salaries, training costs, employee ramp time and much more. It's the only study that benchmarks data around sales enablement's impact on revenue – and this year, it paints a picture of sales teams in dire need of support.
The report, based on a survey of 400 respondents, showed that only 56% of sales reps achieved or exceeded their sales quota last year. Perhaps that shouldn’t surprise us, considering almost 95% of sales enablement initiatives failed to meet or exceed expectations in the past two years.
“Given the decreasing quota attainment results, effective sales enablement is needed more than ever,” said Tamara Schenk, CSO Insights research director. “But trying harder in a one-off project manner does not create the expected results. Successful sales force enablement is about enabling smarter."
Sales enablement's top goal this year was ramping reps to full productivity more quickly, with 44% of the vote. It’s easy to see why; more than 65% of respondents said they plan to add new reps, while 40% said it takes more than 10 months to get salespeople to full productivity (61% said it takes more than seven months). That’s a lot of time lost.
The study also shows average ramp-up time per deal size, an interesting chart you can find here.
“The growing length of time it takes to see full revenue productivity from new hires can have a significant impact on current year performance if you see a spike in turnover,” the report said. “Only a few organizations ever see an immediate increase in sales from hiring net-new people.”
Other goals included increasing available selling time (reps are only spending 36% of their time actively selling) and improving salesperson-to-client communication.
The study also offers insight into the value of investing in sales manager training. Organizations that invested more than $2,500 per person, per year, saw deal win rates up to 9% higher than those that didn’t – and they saw as much as 18.4% higher revenue plan attainment.
There’s more – and so we don’t end up writing the longest blog post ever – we suggest you check out the study. While we’ve given you some of the highlights, you’ll find more data on productivity, hiring and salaries. And it’s free. Check it out here.