Unlocking Order from Chaos: Tackling Revenue Technology Confusion

We’re excited to launch a new video series focused on reducing chaos in your seller tech stack. In it, our team of experts shares tips on how you can use the tools in your tech stack with one another to improve seller productivity.

This video series covers a wide range of topics, including:

  • Using CRM data and conversation intelligence to inform your 2024 enablement plan
  • How to improve win rates and conversions with revenue intelligence
  • Leveraging your CMS, DSRs, and CRM to inform your 2024 sales content strategy
  • Enhancing coaching with CRM data, enablement analytics, and conversation intelligence
  • How reps accelerate bigger, faster deals with consolidation

Reduce Tech Stack Chaos

Get actionable tips from our team of experts on how to use tools with one another to improve seller productivity. 

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Transcription

Hi, everyone. My name is Parth Mukherjee, and I’m the Vice President of Product Marketing at Mindtickle. Today I’m here to talk to you about something that we are hearing a lot from our customers and prospects. And that’s the chaos that we’re seeing in the revenue technology space.

We obviously as a company are deeply passionate about F tech, and believe that every category and vendor out there has something valuable to offer to its users. However, market valuation and investor pressures often drive vendors to create capabilities in many different areas. Not all of these are necessarily aligned with user needs.

Just imagine the tech stack you already have in a go-to-market organization today, especially on the sales side. You have, of course, your CRM. But then you also have sales, onboarding, and training. You have content management systems, you have conversation and revenue intelligence tools, you have sales engagement tools for SDRs, and you have sales forecasting. And then you also have pricing territory compensation management, the list simply goes on.

And now as the boundaries between these categories, blur, users are just confused. Which parts of my stack do I use for which needs and for which use cases at mind tackle we have created a video series that is aimed at helping you cut down this chaos from your sales tech stack. In this video series, we have gathered insights from our customers and the market to help you streamline your sales tech stack, improve your go-to-market strategy, increase venerates, and establish robust enablement practices.

Here’s a sneak peek of what you can expect from each of our experts.

  • Christian guides you on using technology to inform your content strategy. By consolidating content into one platform, layering engagement data, and structuring content for seller use, you can boost engagement with content.
  • Helen provides enablement professionals with three ways to use CRM and conversation intelligence data to improve your 2024 enablement calendar. By reviewing sales stages, evaluating launches, and assessing ramp time for new hires, you can refine your strategy for the coming year.
  • Elisha, another brilliant product marketer on my team addresses the chaos of onboarding in a new company. She emphasizes the power of using CRM enablement analytics and conversation intelligence to identify short-term risks and mitigate long-term ones. By closing skill gaps and aligning coaching with competencies. You end up building a strong coaching culture, which helps ongoing rep performance.
  • Rahul highlights a great customer example in the cybersecurity space by consolidating tools tracking pipeline risk analytics, ensuring repeatable quota contributions, and focusing on the healthy deals in the pipeline. The company improved productivity and accelerated the bigger, faster deals. Listen to this video and learn how they did it.
  • And finally, Lindsey shares a success story where a B2B tech company with Mindtickle’s help, of course, double their win rates. This is an amazing story. They achieved this by driving cross-functional alignment, consolidating technologies, and focusing on buyer engagement. This led to substantial cost reductions and simplified tool usage for the reps which is really, really important.

So I would want you to enjoy these five videos. And I would love to keep this conversation going. Please write to us at [email protected] and share how you have reduced tech stack chaos for your business. We will also follow this series up with a long blog on our perspective on the future of revenue technology. till then happy viewing and a very happy holiday from all of us here at Mindtickle. Thank you.

Introducing Readiness Index: The Best Way to Set & Track Sales Performance Benchmarks

Imagine all the time we spend in sales and marketing developing ideal customer profiles, or as the acronym goes, ICPs.

Sales leaders spend a lot of time and effort to:

  1. Ensure the leadership team agrees upon and documents the ICP
  2. Train everyone in the sales organization on sales motions aligned to the ICP
  3. Collaborate with marketing and product teams to deliver content and offerings aligned to ICP needs

However, as we all know well, every sales deal has two sides – the customer and the seller.

While you may have targeted the right ICP-fit prospects, your success as a sales organization still rests greatly on the skills of your own sales rep.

So, how much time do sales leaders spend thinking about and strategizing about the ideal rep profile – or as we call it, the IRP?

Very little.

Some sales leaders like Mark Roberge, the ex-CRO at Hubspot, evangelize the concept of ideal hiring profiles. But does good sales performance begin and end at hiring the right people?

The truth is that it’s a long journey that might begin with hiring for the right fit, but along the way includes things like onboarding, ongoing training, practice, reinforcement, continuous coaching, account planning, and so much more.

And all of these performance improvement initiatives cannot operate without a sales performance benchmark.

Sales leadership teams need to define, document, and track gaps against ideal rep profiles or IRPs.

What is an ideal rep profile?

IRP is the science behind measuring and improving sales performance.

Today Mindtickle announced the launch of its new sales performance measurement product, Readiness Index.

Readiness Index helps sales leaders record their IRP competencies and skills. As an example, you could set up your IRP as a combination of competencies like:

Mindtickle ideal rep profile

Along with each competency, you can also add in the weight each of them has on the overall Readiness Index score for a rep or a team.

My IRP is set. What’s next?

Based on the IRP, enablement and frontline managers create custom programs and coaching plans to address every rep’s skill gaps.

Now readiness initiatives like training by the enablement team and coaching by frontline managers address the needs of the individual, above and beyond addressing only the needs of the team and the organization.

On the other hand, sales leaders can start tracking how teams and reps are performing based on their readiness score in Mindtickle.

Mindtickle sales readiness index

Now sales leaders know how each team, region, and rep (or any cohort) is performing.

They know which team or rep needs help with which competency.

Can we connect readiness with revenue?

Readiness levels can now also be measured against business metrics from the Salesforce CRM.

Think quota attainment, pipeline building, competitive win rates, meetings booked (for XDRs), churn, or customer NPS (for CSMs). All of these metrics can be used to understand the impact of all your readiness activities.

Mindtickle Sales Readiness Index

Now you can focus your readiness efforts in a more targeted manner starting with the quadrant that needs improvement in both readiness and quota attainment.

Take Susan for example:

Mindtickle ideal rep report card

We now know she needs help with customer personas, deep discovery, and value articulation.

Steps sales leadership can take with Mindtickle to help improve Susan’s performance:

  1. Listen to her discovery calls in Call AI conversation intelligence and give her prescriptive feedback on questions to ask, talk time to reduce in discovery conversations
  2. Guide her on better value articulation by sending her a reinforcement course, as well as doing an AI-guided virtual role-play
  3. Ensure she can use Asset Hub to easily find all persona-related content, training, highly rated roleplays submitted by top reps

Readiness Index creates more peak performers on your team by delivering bespoke education, content, and coaching based on every rep’s individual needs. Learn more about ideal rep profiles and the Readiness Index by getting a personalized demo today.

Mindtickle Launches Readiness Index and Asset Hub to Complete Its Readiness Vision

“Sales is both an art and a science.”

“It’s more about the attitude.”

“We need more reps with the ‘it’ factor.”

We’ve heard it all.

Sales rep performance is a complex challenge we’ve tried to address through traditional training and enablement programs, and for many, it’s not working the way we hoped. A study by CSO Insights suggests only 27.5% of stakeholders feel sales enablement initiatives meet or exceed their expectations.

So, is it true that sales readiness is a dream state, a mission impossible? Or can revenue organizations actually improve performance through readiness? How can sales leaders create an all-star team of quota-crushers instead of relying on a handful to carry revenue targets?

Sales leaders can master the science of sales performance by creating, tracking, and optimizing readiness with Mindtickle.

I’m proud to say that with the Fall 2021 product announcement, Mindtickle built the sales readiness platform that revenue teams need to create a state of continuous excellence.

The key highlights in the announcement include:

  1. Defining your ideal rep profile and correlating skills and behaviors with sales success in our new product, Readiness Index
  2. Equipping your sales teams more effectively with an integrated content experience for just-in-time learning and customer engagement in our new product, Asset Hub
  3. And a few more capabilities:
    • Create programs aligned to critical competencies and based on enablement best practices using Program Templates
    • Improve remote or hybrid team engagement in training sessions or kickoffs with gamification using Live and Team Challenges
    • Act on readiness insights and gaps with role-based dashboards that give full visibility into team and rep performance

Readiness Index

What’s your ideal rep profile (IRP)?

Every deal has a customer and a rep. In sales, we devote a lot of effort to defining the ideal customer profile or ICP. But what about our own reps?

True readiness begins when sales teams know not only their ICPs but also their IRPs — ideal rep profile. Mark Roberge at HubSpot introduced the concept of ideal hiring profiles. But sales performance isn’t a challenge that can be addressed by simply hiring reps based on a profile. Your reps always need to:

  1. Possess the skills
  2. Display the behaviors that help win deals
  3. Repeat winning behaviors consistently

Now, for the first time in any sales technology, the leadership team – CRO/CSO, heads of enablement, ops, and regions – can come together and encode their ideal characteristics in Mindtickle’s Readiness Index.

mindtickle ideal rep profile

Once the IRP is set in Mindtickle, enablement programs and sales content can be aligned to deliver the knowledge and skills required to create more ideal closers. This is made even easier with our new Program Templates, which make it simpler and faster to get your courses off the ground.

Then, as reps learn, reinforce, and practice key skills in Mindtickle’s enablement programs, their readiness scores start reflecting their proficiencies and gaps in the Readiness Index visualizations.

Mindtickle Sales Readiness Index

Now, enablement teams and frontline managers can tailor their programs and coaching to help bridge gaps for each individual rep.

Asset Hub

Do your reps have access to just-in-time sales content?

When most sales teams think of sales content, they think mostly of marketing collateral. But is that all that makes reps successful? What about training content, internal talk tracks, battlecards, role-play videos, and recorded snippets from actual customer conversations?

Many kinds of content drive rep success in the field. Mindtickle’s integrated content experience in Asset Hub ensures your reps can access, learn, and share the content that’s aligned with your readiness approach and proven to help win deals.

mindtickle asset hub content management

With the right content at their fingertips, reps can:

  • Prepare for calls by listening to real-world, winning conversations
  • Get the latest updates from SMEs in easy-to-consume microlearning
  • Respond to objections quickly and confidently
  • Practice pitches using AI-powered recommendations
  • Share marketing-approved assets that win, contextualized for key selling situations

Additional sales readiness product capabilities released

Role-based dashboards for sales leaders and enablement

At any time, you have parallel programs as well 1-on-1 or team-level coaching activities underway. Mindtickle Insights bring you role-based reporting and analytics for sales leaders (CROs/CSOs), enablement, frontline managers, and ops.

They cover the entire gamut of data analytics – from adoption and engagement to learning scores, conversation intelligence, and revenue outcomes. And if editing your dashboards with the widget style isn’t enough, then you can also build your own reports and dashboards from scratch.

Live and Team Challenges to gamify sales enablement and training

With Live Challenges, enablement teams and trainers can strategically intersperse interactive contests throughout live training sessions to boost attention and improve recall. Teams get a series of multiple-choice questions where scores are based on how quickly you respond. After each question, the leaderboard is flashed. It’s a great learning experience that promotes friendly competition and fun.

Hybrid sales teams can now use Team Challenges to drive more rep engagement. The product design is our homage to the arcade games of the 1980s. Team Challenges encourage teamwork, camaraderie, and retention during sales meetings and kickoffs as it involves significant teamwork, communication, and knowledge to win the game.

Templates to launch programs in days not weeks

Quickly launch new programs using Mindtickle’s templates based on industry best practices.

Use templates for onboarding, product/service knowledge, and sales methodology implementations to start delivering value quickly. These templates significantly cut down the time needed to launch a new program – the average time taken in the beta process was nine days. The Mindtickle Content-as-a-Service (CaaS) team will continue to build out the repository of templates till we eventually have an entire marketplace where enablement professionals and training organizations can offer their own templates.

Mindtickle templates

And that’s a wrap!

That’s all we have in store for Fall and Winter 2021. But I can tell you that the product and engineering teams (400 strong now!) are already working toward an amazing roadmap for 2022. We’re working closely with customers and industry practitioners to get feedback.

We want to hear from you! Reach out to [email protected] to let us know your thoughts on this release and ideas for future ones. Maybe you will see them in our Spring 2022 announcement.

Conversation Intelligence: Closing the Sales Readiness Loop with Field Evidence

Recently, Forrester Research released its latest report, “New Tech: Conversation Intelligence for B2B Revenue, Q3 2021.” Mindtickle’s conversation intelligence solution, Call AI, is featured in this report.

Why is this important?

Simply put, this can be interpreted as acknowledgment among premier industry analysts that conversation intelligence is a critical component in the world of sales readiness.

Gathering field data from conversation intelligence is a key aspect of Mindtickle’s readiness approach – where real-world selling meets the world of enablement and training for effective readiness. We’re excited for this research into how and why our Call AI offering is so helpful in making sales teams better.

Conversation intelligence replaces hunches, bets, and personal crusades

Arguably, enablement programs have historically been built on hearsay, not actual evidence. Enablement leaders take input from sales leaders about what they think to be true about their teams — gaps in product knowledge and capabilities, for example — and then build programs and curricula around these inputs. The programs resulting from this “hearsay” approach is then applied broadly, in some cases to the entire sales team, whether or not they all need it.

This spray and pray technique results in poor results.

Use field evidence to build programs that create behavior change

Using conversation intelligence, enablement leaders have real-world evidence as to which team member needs more training or coaching, for example, on pricing or product, or which group could use help in negotiations. It provides insight so that enablement programs and curriculum can be customized for a team, a region, or an individual and therefore more effective, benefiting the entire organization.

Onboarding, which falls under the enablement umbrella, is another area that benefits from conversation intelligence. Typically, new hires must read through written content, PowerPoints, PDFs, and web pages to help them get up to speed. In addition, they must sit down with tenured sales reps, listening in to their demos, and taking notes on how to present and how the prospect responds. In those initial months on the job, there are few hours to devote to these tasks. Conversation intelligence provides a bird’s-eye view of real-world customer interactions, recorded and transcribed for easy reference. New reps can get the information they need and get up to speed and productive, faster.

Conversation intelligence delivers the real-world evidence managers need to inform strategic and impactful coaching sessions

Now more than ever, sales managers need to step up their game to increase their teams’ productivity and identify areas for improvement. Coaching — even more than tools and processes — is key to this endeavor, but with the average number of reps per manager at seven, there is little time to devote to it. As per a study by the Sales Management Association, 73% of frontline sales managers spend less than 5% of their time coaching. That’s two hours a week and if you have five reps on your team that’s less than half an hour of 1-1 coaching time per rep per week.

From my own experience, most frontline managers spend 1-1s with reps looking at Salesforce opportunities, asking about the status of each deal in order to confirm their forecast for the month or quarter.

That in essence is a deal review, not coaching.

Conversation intelligence belongs in the sales readiness world

Conversation intelligence fills the void in deal and account planning, providing an actual recording of what, exactly, transpired during a prospect call versus the rep’s unverified version. For example, a rep may insist that a certain deal is in the bag; a recording — which captures the prospect’s actual choice of words and tone — may indicate otherwise. Armed with this field evidence, 1-1 meetings become more strategic, and the manager becomes a greater asset as they coach the rep through the next steps of the deal as well as help them navigate long-term skill gaps.

Conversation intelligence is critical for coaching reps on long-term skills as well. Indeed, a sales manager who can foster substantial changes in the way a rep sells, their strategy, their behaviors, and their approaches is a memorable mentor contributing to the creation of a great sales professional. To do this, managers first must identify which skills must be developed. This insight comes from observing the life cycle of won deals and lost deals. Conversation intelligence provides the insight needed — not just once, but on an ongoing basis — to guide impactful coaching sessions and track progress over the long term. Leveraging AI helps managers focus on “moments that matter” rather than listening to the entire recording.

Mindtickle Call AI, our own conversation intelligence solution, is part of our sales readiness platform and is the industry’s only solution where users can identify and fix the real-world behaviors that prevent success. Here are a couple of ways in which conversation intelligence and enablement combine strongly in Mindtickle:

  • Key moments from customer calls – good and bad – can be built into libraries and added to your onboarding and sales everboarding programs
  • Customer snippets can be added to a mission and set as a challenge for all reps as a method of informal learning
  • Based on skill gaps identified in conversations, managers or enablement can assign reps to a very custom learning path designed for the rep

Interested in learning more? See more about Call AI here.