Lesson 3: Building a Sales Enablement Budget
The State of Sales Enablement 2019 report found that organizations with formal approaches to sales enablement experience win rates that are 12% higher than those with informal sales enablement approaches. However, a lack of resources is one of the most common obstacles to formal sales enablement initiatives. When sales enablement has the budget it needs to fulfill its charter, it is able to drive tangible business impact. This lesson will cover how to build a sales enablement budget and secure the resources needed to be successful, including:
- The Core Components of a Sales Enablement Budget: Identifying the fixed costs, variable costs, potential risk/unexpected costs, and a measurement of success/ROI clearly communicates what the company should expect from its investment.
- How to Build the Business Case for Your Budget: Utilizing strategies such as aligning to stakeholder vision and goals, using data to articulate the “why”, including specific examples of “how”, and leveraging partners to demonstrate demand build compelling proof for while sales enablement is a worthwhile investment.
As sales enablement continues to become more established as a business function, it is increasingly important for companies to carve out a permanent place for it within their annual budgets. Not only does a formal budget help practitioners organize and plan their programs to maximize ROI, but it also sets a framework to scale success as sales enablement grows in an organization.
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