Revenue Enablement: Training Your Way to Sales

Trends

Last updated September 6, 2023

ByMiloš Soro

Reading time 2 mins

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Have you ever wondered why someone seems to be just better at converting customers and generating sales even though their product or service is of lower quality? It can’t be just a coincidence, can it?

Today’s trending product, revenue enablement platforms, exists to help you become a better online retailer and find effective ways to approach your audience and expand your customer base.

What Is Revenue Enablement?

Revenue enablement is a training process that involves all aspects of your business, from sales to marketing and customer service. The idea is to teach your reps (or yourself) how to identify, understand, and address customer needs in a way that allows your business to close more deals.

If you’ve posted a handmade necklace on eBay, and that’s all you’re planning to sell, you don’t really need to know how to turn a visitor into a customer. However, if online retail is your company’s primary focus, being able to convert your visitors is what makes or breaks your business.

Regardless of whether you use online marketplaces or have a dedicated website (or both) to reach customers, you could use a bit of training on how to optimize your efforts to grow your revenue. That’s where revenue enablement comes in.

A revenue enablement platform allows you to learn how to improve your revenue growth through various strategies, such as:

• Technology integration,
• Training courses,
• Data-driven decision-making,
• Customer-centric marketing strategies,
• Sales collaboration,
• Content creation.

Seller Focus

Revenue enablement focuses on all sellers who consider online retail as a full-time job and their primary source of income. Regardless of whether you’re a one-man company or hire a team of people, these platforms can help you improve your business and increase sales by implementing new techniques.

This trend is perfect for retailers who offer a variety of products and intend to create a larger base of loyal customers.

Product Examples

• Seismic Enablement: A cloud platform for companies of all sizes. It offers coaching in content management, automation, sales strategies and planning, and buyer engagement.
• Highspot: Dedicated to optimizing sales team performance. The platform provides coaching and guidance through e-learning, playbooks, and onboarding training. 
• Showpad: The platform centralizes content and sales tools, allowing sales team members to access the content they need instantly. Sellers can create a shared space and enable micromanagement of each customer regardless of the manager in charge.

Online Coaching Stats 

Ecommerces and businesses in general are no longer leaving their revenue growth to be dictated solely by their employees’ experience. In the past few years, there’s been an increase in investment in corporate e-learning and online coaching for employees.

According to Statista, the market size of online B2B coaching stood at $22.5 billion in 2021. Experts estimate that the corporate e-learning market will be worth $44.6 billion by 2028.