The biggest compete event of the year: Nov 29 - Dec 2
Building confidence in sales is something all the best competitive enablement programs have in common.
When you’re producing competitive content sales reps love, and getting it to them when and where they need it, you’ll quickly find that your content is something reps can’t go without.
Better yet, reps being able to rely on your content against competitors to give them the extra boost of confidence they need.
As a result confident sales reps find themselves feeling confident about your competitive program.
But how do you measure something like confidence? A feeling?
You run a survey!
Here are 4 ways a competitive confidence survey levels-up your competitive program.
Problem: Your compete program is in its infancy and needs organizational buy-in to mature to the next level.
Solution: Partner with the team that has the biggest appetite for competitive content and the most measurable KPIs.
How to do it: Collaborate with a group of sales reps to inform your competitive confidence survey questions.
Make sure reps know and feel that they’re an integral part of not only the competitive confidence survey, but your competitive enablement program as a whole.
And beyond engaging sales reps at the beginning stages of running a competitive confidence survey, you should keep them looped in on any progress and updates:
Listen to Klue’s Competitive Enablement Manager breakdown his first Competitive Confidence Survey on the Competitive Enablement Show.
Most importantly, when you’ve got your findings and recommendations, give a timeline for when the results from your surveys will translate into action.
Action that the sales team you’ve been partnering with all along will benefit from in their daily lives.
Problem: You don’t know where to start with (or how to level-up) your competitive content
Solution: Include questions in your survey that seek open-ended feedback about what sales would like to see more of
How to do it: Use free-form questions in your survey — in addition to multiple choice — to open up the realm of possibility for your reps
As much as possible, it’s important to measure levels of confidence using a 5 or more point scale.
But when it comes to asking reps about what kind of content they’d like to see in the future, ask the questions in an open-ended way.
This will help them be more reflective in their answers. What’s more, it’ll open up the field of possibility to things they haven’t even considered yet.
“What I heard from the sales reps they we want to hear Gong’s snippets and embed them into battlecards. Actual audio of sellers using a particular talk track.”
Especially when it comes to questions revolving around what reps want to see more of in terms of content, don’t box anyone into a set of answers.
Problem: You’re struggling to show the value of your competitive program to senior leadership
Solution: Give him a high-level look into the valuable insights you collect about the competitive landscape
Getting there: Ask survey questions about which competitors are most frequently coming up in deals, repeat quarter-by-quarter to show changes
Although the quick wins you’re scoring with sales are making them true believers in your program, it can take some time before those results show up at a macro level.
By surveying your team quarter-over-quarter, you start to pick up on important changes in the competitive landscape. And then present these changes to senior leadership.
The information you provide can not only shine a bright and positive light on your program, it offers insight that benefits the entire company.
Like jane.app’s Director of Product Marketing Fiona Finn said on the Competitive Enablement Show “I’ve found that leadership love really easy to consume matrix or landscape views of your position in the market. [That’s why] I recommend getting in front of leadership with a yearly competitive landscape refresh.”
Problem: PMMs and Compete leads don’t have a standard KPI to measure performance
Solution: Measure changes in seller confidence over time
Getting there: Running regular surveys will help benchmark seller confidence and gauge how your competitive content is making an impact
Win rate, deal size and deal cycle are all important metrics that reflect on your compete program. At the same time, there are many confounding factors tying to those metrics that are way out of your control.
Layering in a Competitive Confidence Survey, and using sales confidence as a metric, is the new standard for measuring competitive success.
Human resources use satisfaction surveys to measure their success. NPS for customer success.
Sales confidence — or should we say competitive confidence — is the new metric everyone will be talking about in five years.
Buyers make decisions based on a variety of factors. Knowing which are driving your success or failure in deals is incredibly valuable. That’s where win-loss comes in.
Register for Compete Week 2022 and catch 25 of the best speakers in Competitive Intelligence, Enablement, and Product Marketing.
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