… alongside evolving the organizational culture
Our findings also underline the need to address the difficult “soft” issue of culture. In terms of customer-centric focus, around a third (32%) of respondents believe that only part of their organizations has a culture that addresses changing customer buying behaviors. Culture will evolve whether it’s being guided or not – so actively leading the way to a new culture is key to success.
EY’s eight-point checklist for your sales and marketing organization and talent agenda
Given these research insights, how can companies reshape their organization and talent for success in a subscription-selling world? Here’s our checklist for success.
1. Understand your organization’s readiness
EY research shows 44% of firms are either neutral or don’t feel sufficiently prepared to adopt a subscription model. So how ready is your organization? Don’t just guess – collect and assess data to analyze. Check how prepared you are with a change readiness assessment.
2. Figure out how you need to reorganize for success
Almost 70% of organizations believe their marketing function doesn’t align effectively with their sales teams. Do you know how to optimize your sales and marketing organization design for the new subscription model? Start with assessing your capabilities and design for the future.
3. Gain a clear picture of your skillset needs for the future
Companies have major skills gaps. In sales, these are primarily in account management, solution selling and digital selling. In marketing, they’re in analytics application, digital marketing, value proposition messaging and alignment with sales teams. Do you know what skills you’ll need, how many, where, and what mix? Get to the answers with future-focused workforce planning.
4. Analyze the skills base of your current workforce
Only about 50% of organizations think their sales team can have a value-based discussion with customers, and one-third of sales and marketing teams struggle with digital selling. How well do your workforce’s current skillsets align with ensuring a consistent and engaging customer experience? And where do you need reskilling. Find out through a workforce analytics-based skills assessment.
5. Ensure you have the right skills enablement programs
There are major skills gaps in both sales and marketing – and the number one issue impeding the ability to achieve growth objectives is quality of sales talent/training. But almost half (47.5%) of organizations think they don’t have adequate sales skill enablement programs in place to educate on the mindset of the modern buyer. Are your skills enablement programs up to the task? Ensure they are, by implementing updated, world-class sales training that takes advantage of omni-channel, e-learning technology.