In the dynamic landscape of recovering financial markets, where competition is fierce and customer expectations are constantly evolving, companies are increasingly turning to sales enablement strategies to drive growth and achieve sustainable success. Of course, many of the larger asset managers have been doing this for years.  Even some of the smaller houses implemented sales support staff to help accelerate the growth targets. However with competition fierce, M&A interfering with brand power and client allocation it is not only important, but necessary that companies of all sizes and micro industries start thinking about the race for inflows.  The new buzzword on the block is “Sales Enablement”, and it has now become a strategic imperative for businesses across industries. From startups to multinational corporations, organisations are recognizing the profound impact that effective sales enablement can have on their bottom line.

So, what exactly is sales enablement, and why should companies be prioritising it in their operations? At its core, sales enablement refers to the process of providing sales teams with the tools, resources, and information they need to engage prospects, close deals, and drive revenue effectively. It encompasses a wide range of activities, including training, content development, technology implementation, and alignment between sales and marketing functions. Perhaps the most important relationship here is that between Sales and Marketing. Often, we see companies operating Sales & Marketing separately, feeding into each other, but not fully aligned. For Sales Enablement to be truly effective, the relationship must go beyond simply designing presentation content. It has to also incorporate your Client Services function, and ensure that retention of clients is as equally valued as the generation of new business.

Here are several compelling reasons why companies should be investing in sales enablement:

Sales enablement equips sales professionals with the knowledge and resources necessary to excel in their roles. By providing comprehensive training programs, access to relevant content, and ongoing support, organisations can empower their sales teams to engage with relevant customers more effectively, address their pain points, and ultimately drive conversions.

In today's hyper-competitive market, delivering exceptional customer experiences is paramount to success. Sales enablement enables organisations to better understand their target audience, anticipate their needs, and deliver personalised solutions. By aligning Sales and Marketing efforts, companies can ensure a consistent and cohesive customer experience at every touchpoint, fostering loyalty and long-term relationships. More importantly, it should help to identify any upcoming pitfalls, which allows a company to be proactive, rather than reactive and therefore maintaining the trust of clients.

Sales enablement streamlines the sales process, eliminating inefficiencies and maximising productivity. This is often done by the implementation of systems and initiatives which allows companies to measure internal metrics with far more accuracy.  By providing sales teams with access to centralised repositories of sales collateral, customer data, and sales enablement tools, companies can streamline administrative tasks, reduce manual work, and enable sales reps to focus on what they do best – selling.

Sales enablement is not a one-time initiative but rather an ongoing process of improvement and optimization. By leveraging data analytics and performance metrics, organisations can gain valuable insights into sales activities, identify areas for improvement, and implement targeted strategies to enhance sales effectiveness. Whether it's refining sales techniques, fine-tuning messaging, or adapting to market trends, sales enablement enables companies to stay agile and responsive in a rapidly changing business environment.

Ultimately, the goal of sales enablement is to drive revenue growth and maximize return on investment (ROI). By equipping sales teams with the tools and resources they need to succeed, companies can increase sales effectiveness, shorten sales cycles, and ultimately drive higher revenue and profitability. Moreover, by optimising sales processes and reducing costs associated with inefficiencies, organisations can achieve a higher ROI on their sales enablement initiatives.

The days of relying on networks and growing business on the golf course are beginning to wear thin. In hiring sales talent, companies are looking for exceptional individuals who are process driven and can explain their success. Equally, the unintentional separation of the Marketing, Client Services and Sales function does nothing but to slow the generation of growth. Sales enablement is no longer a nice-to-have but rather a critical component of a successful business strategy. By empowering sales teams, enhancing customer experiences, driving efficiency and productivity, facilitating continuous improvement, and ultimately increasing revenue and ROI, sales enablement allows companies to gain a competitive edge in today's challenging environment.