[Enterprise Knowledge Management] EKM serves quite a different function: it focuses on the process of finding specific information that is directly relevant to a user’s inquiry.”. It’s not enough just to have your team share knowledge; you also need to find a way to capture it. Another way to drive adoption is by offering your reps information in their preferred formats. Let's dive into the basics of knowledge management, why you need a knowledge management system, and some helpful tips for capturing and managing sales knowledge. Let’s say a very knowledgeable rep is leaving your company, and you ask him to conduct an in-person training workshop for your team. With knowledge base software, you can create online courses for training your sales team but, since your knowledge base is a central database that contains all of your content, your sales representatives can basically train themselves. Did you know that, when consumers have a need for a new product, tool, or service, 32% of them look to product guides, educational content, and best practices? A Hubspot survey also shows that salespeople value their peers and managers as an essential source of knowledge. All Rights Reserved. This way, you can have a section dedicated to new employees so you can ensure they are engaging with the most relevant content and information related to their positions and your company. Merely hosting a workshop is not good enough. Typically, only about 20% of this information is essential for them to know to be able to sell. Better qualified opportunities. You can also add in pre-recorded training videos for them to watch, in most cases. Knowledge management that works with the tools you’re already using. Ever had salespeople who seemed like they were on two different planets? Sharing knowledge is a good starting point, but it’s not enough. But the average salesperson flounders to locate the expert knowledge they need as they search portals, make frantic calls, and send out “Hail Mary” emails. Keep your knowledge central so you can ensure that your sales team is not spending their time on unnecessary administrative tasks. You need to record it. 5 terms to know before creating a sales enablement strategy. Filtering capabilities in your KMS helps users to get a more accurate search, which makes it easy for your sales team members to find exactly what they are looking for. Determine and Prioritize Technology Needs. As a sales leader, you should lead by example. Recording your knowledge sharing allows sales reps and team members to refer to it later. Ambition co-founder Brian Trautschold shares the ideas he’s used with his own sales team. People Ops teams. Knowledge management (KM) is the process of creating, sharing, using and managing the knowledge and information of an organization. Customers want an easy process to search for specific issues, rather than combing through a maze of endless resources. All of their insights, best practices, and lessons learned walk out the door with them. This way, if they ever feel lost or unsure about what they are supposed to do during a sale, they can refer to this piece of collateral. iLantern provides a service that monitors events associated with targeted companies to produce information alerts that signal activities that can influence sales opportunities at those companies. Salesforce Knowledge is the knowledge base solution that is part of the Salesforce Service Cloud, a comprehensive package of components and modules that gives you a complete customer view and enables you to provide intelligent, fast, and personalized customer service. However, remember that at the end of the day technology is not magic; it is there to support your people and your processes, and it won’t solve all of your problems by itself. Empower your sales reps to become more insightful and collaborative, and turn your sales organization into a revenue-generating machine with the help of Sales Knowledge Management. The most frequently asked questions from customers and salespeople. Essentially, sales knowledge management is the process of keeping sales knowledge in a central place where it can be easily found and distributed. Bring yourself up to speed with our introductory content. Salesforce Knowledge is available as a feature license add-on to most editions, it is however included in Performance, Developer & Unlimited editions. Resources. Unless you’re extremely well-versed in executive sales recruiting, trying to hire a VP of Sales on your own is a recipe for disaster. Content Management is document or file-based, so you’re looking for information within documents or content. This field is for validation purposes and should be left unchanged. For example, Gong does this really well by allowing reps to record their calls and demos and feeding insights from those conversations into their CRM. Document your sales process in its entirety. Knowledge management systems can also help convert consumers. You will probably have to use a tool that provides you with a trackable URL for your sales content and collateral. Create opportunities for training and sharing your insights with the rest of your team. You shouldn’t be letting your precious sales knowledge escape into the abyss. Conscious efforts in some major corporations to build a "learning organization" have yielded such job titles as Chief Knowledge Officer … Knowledge Management focuses on creating and allowing direct access to snippets of information that are granular in nature. Your important information should be protected, which means they need to be placed somewhere with security so hackers or human error don’t cost you. Guru Help Center. Using a knowledge base, you can quickly document your sales process and best practices. Some well-known KM solutions include: Content management systems; Knowledge base systems Sales Management | Courses, tips and tricks, and best practices to make Guru work for you. Some of the best tools and software you can choose from include: Your knowledge management system needs tags, titles, and descriptions for every digital asset. Nevertheless, Sales Management must encompass ways to spread best-practice, refined key selling messages and superb live stories that all prospects musthear right now. This lets the reps see how their actions are driving results in their sales metrics and entices them to keep using the platform. Currently Vice President - Sales & Knowledge Management at CPC Diagnostics. Another significant leak source is the lack of adequate tools to capture and access knowledge. Here are some of the benefits of using a knowledge management system (KMS) for your sales department: Knowledge base systems track things like: This helps provide customized training for each salesperson because sales managers can gain insights into what they still need to learn. For example, they can see at a high level what their team has plenty of information on and what areas need more educational content. PIBM Pune is one of the top management colleges located in Pune, India. Training a new employee is time consuming and can pull your top performers away from their daily activities. You will only need to buy licenses for the users that will be administering the application and creating articles, but not the users that need to view them, this is included in most Salesforce licenses. Check your CRM reports to see which areas your sales team struggles with the most. Your reps will be able to use these cards on phone calls or during meetings to quickly address concerns. 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