There are several levers sales leaders can pull to boost their teams' productivity, but knowing which is the best avenue to prioritize can be tricky. Should they double down on rep training? Perhaps implement new technology? Or would the organization benefit most from a compensation plan shake up?
While there's no clear "right" answer to this question, data from the Miller Heiman Research Institute can at least help sales leaders compare their productivity investment plans to those of their peers. According to the 2014 MHI Research Institute Sales Performance and Productivity Study, the top two productivity investments sales teams have on the docket for 2014-2015 are improving product knowledge and market competitive intelligence (82%) and improving process, skills, or competency training (81%).
Tamara Schenk, research director, categorized both of these initiatives under the umbrella of sales enablement.
"These investment areas cover both knowledge transfer and behavioral change. The former is primarily addressed with content services, the latter with training services," she wrote in a blog post.
However, sales leaders need to effectively implement these enablement changes if they hope to see a return on their investments, Schenk cautioned. "Two one-way roads in parallel don’t lead to more productivity. These services have to be connected to create value instead of noise," she wrote. "Providing content alone is not enabling the sales force."
So what fell to the end of the priority list? Technology. According to the survey, the two least commonly planned productivity investments are deploying a new CRM software (48%), and deploying new sales productivity applications (54%). While 28% of respondents said their organizations had invested in a new CRM system in 2013 or earlier, which could explain why fewer teams planned to take on a CRM rollout, a surprising38% of survey takers had no plans to invest in sales productivity apps.
What's your take on the high prioritization of enablement initiatives and the relatively low prioritization of sales technology? Weigh in in the comments.
Originally published Mar 18, 2015 8:00:00 AM, updated February 01 2017