Power Up Your Revenue Enablement and Operations Strategy with Interactive Learning Software
Discover how interactive learning can enhance your revenue enablement and operations strategy. Read our blog and power up your business with Driveway today!
Mar 29, 2023
In 2023, everyone is asking - how can we do more with less?
For Revenue Enablement teams, interactive learning for product and sales training is now the newest and most valuable asset in your team's toolbox.
We all know that Revenue Enablement teams are responsible for making effective product and sales training for their team.
But really - who wants to sit through slideshows and training videos?
Before diving into why you should adopt Interactive Learning Software in your revenue strategy, let's talk about what is interactive learning.
What is the definition of interactive learning?
Interactive learning engages users in activities that allow them to experience, analyze, and practice new concepts through direct interaction.
These activities could be games, simulated environments, drawing on an easel or whiteboard, multimedia experiences, interactive web platforms, or anything else that engages your learners and requires active participation.
When customer-facing teams forget what they learn, they can create bad customer experiences, ultimately costing the business time and money.
This is why interactive learning is an especially effective way to facilitate training of customer-facing teams - because the stakes are high for your business in every customer conversation.
By making employees actively involved in training, you automatically increase the likelihood they remember what they learned when they are speaking to a customer.
Now that we know what interactive learning is, let's check out 5 reasons why interactive learning is now a must-have for your revenue growth strategy.
Interactive learning means faster time to revenue
Revenue Enablement and Operations teams know that every call counts.
That's why it can be so hard to take sales reps off the floor for training.
Avoid the "ROI-case-making-and-favor-trading" with your Sales Leader around Virtual Instructor Led Training (VILT) and instead look for ways to deliver interactive and asynchronous training.
Based on our research, sales reps can spend anywhere from 40-60 hours in meetings during their onboarding process, with up to 20-30% of that time being spent learning software tools and trainings - a critical step in any new hire onboarding checklist.
Although this varies by industry and company, replacing the 20-30% of your onboarding and training time with self-serve and asynchronous systems training can be a massive boost to your team's revenue growth.
Asynchronous software and systems training can be delivered through interactive walkthroughs, in-app tutorials, or other guided user experiences provided by Digital Adoption Platforms (DAPs) or by Interactive Learning Software (ILS).
Interactive learning means higher customer satisfaction
Customers want to work with vendors who are knowledge and well-informed about the product they are selling.
Of all the ways to notify your customers about a new feature, potentially the most important and most high-risk is your customer-facing teams.
Lack of confidence, or misinformation around your product, can have an immediate impact on your ability to convert a lead into a happy customer.
Maybe there's a new feature that if implemented correctly for one customer could have a massive impact on their business.
Forgetting about a new feature or how to speak to it doesn't just impact a customer's perception of your business, but it can also impact the long term ROI of your product.
Avoid running into these sorts of conversations when it comes to renewal time. Interactive learning for new feature releases can help you make sure that your customers get value from your product the moment a new feature walks out the door.
Consider collaborating with your product team or product marketing team to make sure when a new release happens, your sales team is prepared with interactive guides and tutorials for your new features so that your team can engage with the product in the same way your customers will.
Interactive learning means higher sales efficiency
According to McKinsey, knowledge workers spend up to 20% of their week searching for information.
Unfortunately, we forget 50% of what we learned within 1 hour, and 70% of what we learned within 1 day, and 90% of what we learned within 1 week.
Ask yourself - what % of questions asked of your team are to get answers the asker already forgot?
Candidly, the science is fuzzy - but interactive learning means roughly a ~2x improvement in information retention, saving your team time and costs answering questions that have already been answered.
Reducing the number of questions asked also saves your sales reps half of the time they spend searching for information, or an extra 10% of their week back to focus on hitting quota.
Interactive learning means higher % of quota attainment
It's common knowledge today that there are different types of learners. These learning types roughly correspond to different types or media, or different senses.
The fact is your team will have auditory learners, visual learners, tactile learners - and each of them may need different types of content to learn and not be left behind.
Now - not everyone should hit quota. Experts say only 60-70% of reps are hitting quota.
But in 2023, data from RepVue shows that only 40-45% of reps are hitting quota across Enterprise, Mid-market, and SMB segments.
This is a no-joke problem for Revenue Enablement and Operations teams.
Because Revenue Enablement and Operations costs are spread across your active sales reps.
Much like retaining a client vs finding a new one, the most efficient way to spend less time and money per rep is by increasing the % of representatives who reach their quota.
Interactive learning helps retain employees
The most expensive mistake a revenue team can make is losing a valuable, knowledgable employee.
Aside from creating a drain on team morale, your team loses institutional knowledge and best practices that can only be gained on the floor.
This means that losing one employee doesn't just reduce your headcount by one - it reduces your overall team knowledge, and limits their potential for future growth.
You can imagine that this "brain-drain" can become a viscious cycle, as reps begin to struggle to hit quota without this valuable source of peer-learning.
Interactive learning makes ongoing training more fun and more effective - reducing the long term burnout associated with change.
Revenue teams are changing faster than ever - and you want to make sure your all-stars are not only along for the ride, but also empowered to make the most of
Highlight your subject-matter-experts (SME's) by including them in your enablement initiatives. Easy-to-use tools for interactive learning like Driveway can empower any member of your team to make interactive walkthroughs and in-app tutorials so they can easily share the best practices that help them hit their quota.
If you want to learn more about how Driveway can get you started with interactive learning, schedule a demo to see how best in class revenue teams incorporate interactive walkthroughs and in-app tutorials to their revenue strategy.