We've made the case for revenue enablement in the past and for this post let's assume you've moved past the point of deciding whether you should get started. If that is not the case, make sure to read our other blog posts. Instead, let's look at how you get started.
One major concern is how start-ups and scale-ups can start revenue enablement with limited resources, whether that's money, time or both. We have always found that using technology in smart ways does not need to cost the world and can be the kickstart of reaping the benefits from revenue enablement. In this guide we will look at some of the core systems everyone should use, no matter what stage your business is in. Most of them are free, so apart from some time you can get started straight away.
1. Customer Relationship Management (CRM) Platforms
Having a CRM system is the backbone of any revenue enablement strategy. They centralise customer data and ensure everyone has access to it, giving a 360 degree view of customer journeys. It's foundational as it will ensure your customer facing roles operate efficiently, and the data provides you with important information about how you can make it easier for customers to buy from you.
On a very basic level, CRM systems such as Salesforce or Hubspot help you and the team store, track and reuse information about your customers across the customer lifecycle. The level of support of a CRM systems depends on how advanced your system is. A very basic CRM will ensure data is not lost (like in email systems or spreadsheets) to one individual, whereas more advanced systems can do CSAT scores, task management and many other complex actions.
The major benefits of CRM systems are a boost of overall productivity, better customer service, enhanced retention and improved decision making with data insights.
Cost: Free to $50/user per month
Vendors: Hubspot, Pipedrive, Monday.com, Zoho CRM, Close
2. Sales Enablement Platforms
Sales is a competitive field and with some major companies with huge resources to compete with, your sellers can use all the help they can get to succeed. This does not just end with training, sellers need a platform that promotes continuous learning, gives them tools to be more productive and in turn allows them to spend more time guiding buyers through the purchase process.
Platforms like Seismic, Highspot and our own Gysho provide sales teams with content, tools and information to help sellers become more effective. More advanced platforms take that much further by including AI assistance, training resources and analytics dashboards.
Starting and scaling organisations will not always have this content readily available, so it's crucial to find the right fit for your company. If you do have standard methods in place, you may want a customised solution that promotes and emphasizes your strategy rather than detouring from it.
Delivering actionable, on-demand support to sales teams has major positive effects on sales performance. It's proven that training, coaching and deal support are amongst the highest impact sales support a company can provide.
Cost: from $50/user per month
Vendors: Gysho, Highspot, Seismic
3. Marketing Automation Tools
The next technology to consider is a Marketing automation platform, which, as you might expect, streamline and automate tasks for the marketing team. Marketing often spans a very wide set of activities so automation really pays off here.
Automation platforms such as Marketo, Hubspot and Mailchimp will take a lot of simple repetitive tasks our of your hands, such as mass emailing, social posting and ad campaigns. They also tie things together if you choose a platform over a single functionality.
When choosing a solution it is important to consider how these platforms work and what functions they bring to the table. For example, platforms like Marketo and Hubspot will correlate data and perform a large variety tasks, creating one hub to create and execute on campaigns. Mailchimp started as a mass email platform and is now much more feature rich, but still more limited than others. Regardless of the type you go for, make sure it will measure outcomes as it is notoriously difficult to see a direct ROI of marketing actions.
In the end a marketing platform will help you scale your marketing team, allowing you to create more campaigns with the same people. Thanks to better personalisation, you can see a boost to conversion rates improving overall growth. Finally, thanks to data insights you can make the right decision on where to invest and what to stop.
Cost: Take special care on pricing; often vendors use complicated models with cost per contact, emails sent, content stored etc. Investigate which model works for you.
Vendors: Hubspot, ActiveCampaign, Insider, Marketo
4. Data Analytics
I have said it many times and those have worked with me will know, I am crazy about data analytics. There have countless times where we took a data set, started analysing and correlating data points, to then find invaluable insights that accelerated our business. Best of all is that the basics are absolutely free.
Tools like Google Analytics, Tableau, and Excel or PowerBI are designed to analyse datasets and provide us with insights we would otherwise not be able to see. The bottom line is that we analyse data to get new ideas, help accurate decision making and validate that actions we have taken are working.
There is a wide array of data analytics solutions on the market which fulfil different niches. Some platforms, like the well known Google Analytics, are invaluable to capture website traffic data and then analyse it in detail. Generally, you will find very generic systems like Excel , Tableau and PowerBI, which are great at helping you analyse but require some skills to use correctly. They may require extensive setup or lots of manual work. Others, like Google Analytics, work on a niche and will only work for a small area.
Then there are platforms that combine different areas, like SalesForce and Hubspot. These platforms will collect data from customers through the website, marketing automation, the CRM and even support, to then combine then into a true 360 degree customer view. Whilst the information and insights are impressive, it is also more costly since you will have to use every module of the vendor.
In short, data analytics tools are invaluable to any business. They will tell you where you need to start investing, whether that's working and what you can improve. It is the driver behind an effective business and a steep growth path.
Cost: Start for free!
Vendors: Microsoft (Excel, PowerBI), Tableau, Qlik, Google Charts, etc.
5. Bespoke AI Solutions
Finally, because we have booked great results and since it is the hype, you should consider using AI solutions as a means to support your business. There is a huge variety out there and business is booming, for good reason because AI makes certain tasks much easier than before. With solutions like GPT (or any other large language model) users simply ask a question and the system will provide an answer.
AI solutions can be generic, like ChatGPT- they can perform a wide array of tasks but are generally not designed to go into a lot of detail. A variation on that theme are natural language AI solutions like Gysho AI, which are designed to perform more specific tasks. We leverage the most suitable AI model, add our own datasets and instructions, to create a solution that is much more equipped to help with sales tasks.
A second variety are the AI systems that come integrated with existing platforms. Some CRM systems, like SalesForce, Zoho and Hubspot, have started implementing AI support to help users perform tasks faster. There are some genuinely useful solutions that allow you to leverage your existing systems much better.
Finally here are AI solutions that are designed to perform a specific function. Datarobot is a machine learning solution that help create predictive analytics, but these types of systems are complex and need in depth knowledge to use.
I personally am the biggest fan of systems that are not too specific and make it easy for me to perform tasks. They are easy to implement, not too expensive and will drive a direct impact in productivity and results. Marketing can save lots of time by using AI to build out SEO analyses, target groups and persona's. Sales can use AI to perform productivity tasks and overcome challenges. Whilst AI might not always have the answers, it is a very easy way to help you get there.
So why does the title of this section say bespoke? There are 2 reasons:
1. Security
Your company and your staff needs to be very careful about what they share on AI platforms. Nothing is free rings true and shared data may even be used to train future language models. Your IP or customer data can end up in the public domain, or cross borders in conflict with data legislation. Ensure you have a solution that adheres to your security needs.
2. Effectiveness
Generic solutions provide generic results. Building a bespoke AI solution, for example by giving it context about your strategy, your products/services or even your sales methodology, will create a much more focused assistant. Imagine giving the sales team an AI assistant that knows you sales methods, all your product details and is ready 24/7 to solve any query one of your sales people has.
Cost: Free to $50/user per month
Vendors: OpenAI, Google, Gysho, Chorus, Second Nature
Conclusion
Revenue Enablement is fast becoming a core business activity that bundles marketing, sales and customer success, to accelerate performance substantially. In a starting or scaling company, you will not have the time or money to perform corporate sized programs, but you can use technology smartly to reap the benefits.
Whether you are a CEO, sales or marketing leader, take a step back to determine what elements of Revenue Enablement will drive the best outcomes for you. Then use technology smartly to save time and drive faster outcomes. It is often not necessary to aim for 100%, getting to 80% is easier and will give you large benefits. Best of all, some solutions are completely free.
