Episode summary
In this video, Fastmarkets’ Anusha Purkins, Head of Sales Enablement, talks about how they’re using Mindtickle to roll out its first-ever certified sales enablement program. One of the main goals was to standardize the onboarding process and improve the efficiency of the go-to-market approach. They also aimed to provide sales managers with effective coaching tools to drive sales performance.
Mindtickle’s most valuable products included a digitized competency framework that allows salespeople to self-review and identify areas for development. The platform also incorporates a learning management system (LMS) for building and assigning coaching programs. Another crucial aspect is the call AI feature, which initially faced skepticism from salespeople but eventually proved valuable for self-assessment and immediate application of learnings. The speaker highlights the positive impact of Mindtickle, such as sharing best practices, improving average order value, and aligning messaging with marketing efforts. The implementation of Mindtickle contributed to a significant improvement in the company’s internal EPS score for sales.
Key highlights
- Fastmarkets built and digitized its competency framework using Mindtickle which means they’re able to identify key development areas that managers can coach on.
- Rolled out first-ever certified sales enablement program. All sellers now use a consistent sales methodology.
- Fastmarkets now shares best pratices across teams so they’re able to ramp reps faster and shrink the learning curve for new sellers.
- Starting to leverage Mindtickle’s Call AI, allowing sellers to self-assess immediately and then apply those learnings and those corrections in those next calls immediately.
Transcription
We’re essentially leveraging my Mindtickle for a number of initiatives. One was to try and standardize our onboarding process to make our go-to-market approach much more efficient. But also give our sales managers the right tools to coach effectively, and really move the needle with their sales reps where we can see value from that.
The most valuable products have been in helping us build our competency framework that’s now been digitized. It allows our salespeople to go online self-review, as long as we as long as we’re the managers as well. And that helps identify key development areas that managers can coach and can focus on.
We’re also starting to leverage, of course, the LMS, in terms of building those programs. It can be prescriptive that way. So once we’ve identified the areas to coach, we can assign the right coaching programs, and make sure that they are interactive, we’re using various modalities to do that. And then the final piece around that is the call AI. So that’s been instrumental in making sure the adoption is there.
I think that’s really important to bring us 360 Make sure that not only we do, do we have clarity on what we’re focused on, but also make sure that we’re moving the needle with our salespeople to make sure they can execute that as well.
[There’s] been a huge impact from Mindtickle. So it was the first time that we’ve rolled out any kind of certified sales enablement program. It ensured that everyone was working to a consistent methodology and process but also we’ve been able to ensure we can measure the progression of individuals within the business.
Another big one was the average order value. So we wanted to look at how can we ensure salespeople were achieving maximum value from each and every client interaction, extract the most amount of value in terms of customer renewal contract values, but make sure we weren’t cannibalizing on price. So it’s about doing the right things at the right time with clients. So we saw those two major KPIs.
And then the final one was go-to-market approach. So how do we ensure that when we launch a new product, our salespeople are positioning, the messaging is going out, and it’s aligned with what our marketing teams are sending out to market as well.
So one of the key statistics that I’m probably quite proud of was our internal EPS score for sales. So prior to sales enablement and Mindtickle coming into play, we had a -16 EPS score, it’s now gone to + 22. Some of that can definitely be attributed to salespeople feeling that they’ve been invested in and that there are clear programs around their advancement and their development and their trading needs. And those coaching needs are being met as well.
We’re in the preliminary stages of the adoption of Call AI. It’s an exceptionally powerful tool. So we’re starting to see that there are some advocates. And I think the biggest piece was there was some trepidation by salespeople who saw that it was a little bit of a big brother tool. They were worried about people overseeing their calls, they’re actually starting to see the value in being able to self-assess really quickly and then apply those learnings and those corrections in those next calls immediately as opposed to waiting for a weekly or BI monthly training session where the adoption of those learnings take much longer.
One of your differentiating factors – actually one of the reasons I chose to move forward with Mindtickle – I actually reviewed a number of your LMS counterparts. Two people stood out for me Absolutely. One was my account manager, Tom, whose discovery was so rigorous. I felt reassured that he understood the challenges and also built a business case that reflected that. And then coming into the actual fold of utilizing Jessica has been incredibly responsive. She’s very knowledgeable about her space. She also understands what her customers need, and she has a great balance between probing discovery versus delivering on results. Both of those Mindtickle employees were incredible in the process.
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