What Is Revenue Enablement?

Revenue enablement combines all the approaches, processes and tools that enable you to expand the possibility of profit. It goes beyond standard sales team solutions to encompass the entire ecosystem, both internally and externally. Revenue enablement doesn’t just focus on the seller, it expands the purview of enablement to support stronger customer relationships, better buying experiences and streamlined workflows.

Importance of revenue enablement

Revenue enablement is a vital part of sales forecasting and related revenue operations. It’s also a key process for supporting the efficiency and alignment of your entire organization.

Here are just a few things revenue enablement does for your business:

Unite objectives

Too often, sales and revenue are seen as two different objectives — and that creates disconnects throughout the organization. Fortunately, revenue enablement allows you to unite these goals by focusing on one thing they all have in common: the customer.

Improve cross-departmental alignment

Revenue enablement doesn’t just support goals; it also empowers the people who pursue them. Because customer-facing objectives are often cross-departmental, a revenue enablement strategy makes it easier to see how each team contributes to hitting shared key performance indicators (KPIs).

Enhance the customer experience

The customer experience is vital to sales and revenue — but it’s also the foundation of your company’s identity and reputation. With the right revenue enablement software and solutions, it’s possible to identify the core elements of your customer experience and make targeted improvements that directly benefit your audience.

Increase focus on revenue operations

Revenue operations can become a secondary focus among so many other business priorities. Revenue enablement ensures that focus is placed on the right elements — not just to support profitability, but to support the customers and internal stakeholders involved in creating it.

Support sales and revenue forecasting

Sales forecasting is a significant process for many reasons, not least because it helps identify key objectives and processes. However, with help from revenue enablement, sales forecasting becomes richer and more valuable, enabling your teams to track and understand how deals create expected value over time. That’s revenue forecasting, and it’s equally important in your business.

How is revenue enablement different from sales enablement?

While sales enablement is an integral part of revenue enablement, the two approaches aren’t synonymous.

  • Sales enablement: This approach focuses more exclusively on developing the knowledge of sellers and arming them with the content they need to close more business
  • Revenue enablement: Revenue enablement addresses workflows and tools that don’t directly influence sales but still have a significant impact on revenue growth and opportunities.

For example, sales enablement may provide information that’s only valuable to the sales team. Meanwhile, revenue enablement may support prospect nurturing, customer success and engagement, revenue intelligence, and more, uniting departments and teams for better customer outcomes.

How to get started with revenue enablement

To get started with revenue enablement and related processes (such as revenue forecasting), you can follow these key steps:

  • Planning: A revenue enablement strategy is the best way to organize teams, processes, and workflows. Utilize all your research and data tools to understand your objectives, choose KPIs and create realistic timelines.
  • Process development: Next, it’s time to develop a process that works for your KPIs. This involves understanding the customer journey, designing outreach and engagement touchpoints, establishing content calendars, and more.
  • Implementation: Once your processes are in place, it’s time to implement the right revenue operations. Begin by empowering your teams with tools like a revenue enablement platform, you’ll create comprehensive, effective workflows that unite multiple business objectives for true sales readiness.
  • Tracking and improvement: As you get more comfortable with your revenue enablement software and strategy, you’ll use various tracking methods to identify which processes are working and which need improvement. This enables you to evolve your revenue enablement approach actively.

Revenue enablement is the future

Today’s customers expect better experiences and richer relationships with businesses. Sales enablement alone may not be enough to capture these opportunities — that’s why revenue enablement is the future.

The right revenue enablement strategy will unite multiple processes, including:

  • Forecasting.
  • Revenue intelligence.
  • Support content and training.
  • Performance tracking.
  • Conversation intelligence.
  • Coaching.

The result is a single home for all your revenue operations, creating insights and visibility into every element of the sales funnel.

With Mindtickle, you can create your own revenue enablement definition. That means setting unique goals, tracking performance across multiple roles and departments, optimizing KPIs and more.

Contact us today to request your free demo.