What can we learn from the success of Peloton to ensure all of our sales enablement efforts are not forgotten by our go-to-market teams and don’t get pushed to the bottom of the priority list like that of our old “gym memberships” goals?
The Peloton - a state of the art, indoor spin bike. with a screen that can stream thousands of live and on-demand spin classes while tracking your progress metrics in real time - is used by hundreds of thousands of spin enthusiasts that want to engage in a social community from home while being pushed and encouraged by real-time coaches and leaderboards.
Peloton recently surpassed SoulCycle’s active customer user count in Q4 2018 and is well on its way to IPOing at a valuation of over $8B. So, what can we learn from one of the hottest fitness tech companies today to ensure our sales training and enablement programs provide the impact our execs are looking for tomorrow?
Here are 3 ways to “Peloton-ize” your sales training & enablement programs:
1) Set the Right Goals & Measure the Right Metrics
Metrics like riding speed, calories, output and mileage all scroll continuously on your screen, and the leaderboard on one side shows how you’re doing compared to others.
The screen shows you how fast you’re going, the bike’s resistance level, and your ranking in the class in terms of output.
This is one of the best parts of the Peloton bike vs taking a studio class as there’s no accurate way to track your performance since there’s no screen on the bikes. This means you could end up slacking by not putting your resistance up as much as it should be.
Similarly - rather than just tracking sales training attendance/consumption/completion you should also be measuring the performance and impact of those programs, ie. how many meetings booked, how much pipeline generated, and revenue closed (more on that here - link to sales hacker article) as part of that program.
Without the Peloton screen telling you what resistance you’re on, it’s hard to know exactly how much you should be adding (this means there’s a lot of room to cheat and minimize the impact on the results you’re going for). Similarly, with your sales training/enablement program, if you don’t incorporate the results you want (pipeline, revenue), into the training programs, it makes it difficult to understand if the programs are in fact moving the needle on your CRM dashboards and improving key metrics including: Cycle Length, Deal size, quota attainment, pipeline built and ramp speed.
2. Make it Personalized
The Peloton app has different classes that are filterable by difficulty, class type, music style, and even class length.
Every interaction a rider has with a Peloton bike is collected as data that feeds the experience. The company is paying attention to what songs riders like, what instructors they prefer, what type of workout they gravitate toward and what ratings they give individual classes. Peloton uses that data to compare rider profiles and suggests (and creates) better, more targeted and personalized content.
Your sales training and enablement programs should be customized and personalized as well. Start simple with having programs by role and segment, and then get even more personalized with programs by pipeline size/type and just-in-time training by opportunity attributes including stage, product and competitors.
3. Keep it Simple & Social
Each bike has a touchscreen from which you can stream live and on-demand classes. The touchscreen is user friendly and easy to use. This should be no different for your sales training and productivity - make it available on demand from any device. Today - that is table stakes.
If you are streaming a live Peloton class - your username is added to a leaderboard on the side of the screen, meaning the instructor can shout out your name to motivate you.
During live classes -- in which instructors and riders alike can track participants’ progress up and down the leaderboard -- a community of virtual friendship develops. Instructors in New York can acknowledge a rider in Boise, Idaho, by name, encourage them to pedal a little faster, congratulate them on taking their 100th ride or riding 20 days in a row.
Make your sales enablement program equally as social and engaging by setting up the appropriate leaderboards. You can also incorporate peer to peer learning, feedback and coaching, by easily integrating any social collaboration tool within the enablement program flow (slack, chatter, etc) if you have not already done so with a full sales enablement platform.
Anyone can get the Peloton app for $19/mth. You pay a premium to have your programs and classes tied directly to your performance outcomes from the connected bike.
It should not be any different for your revenue productivity programs - have your sales training, enablement and onboarding tied directly to the performance outcomes and business impact in your CRM. This is what will start getting your team & enablement programs the executive attention it deserves!
William Lynch, Peloton’s CEO, notes that it’s members currently work out 11 times a month, up 27% from last year. “That’s unheard of, compared to about 2 times a month for the average gym,” Lynch said. “So it’s this really immersive experience and we think it’s the best deal in fitness”.
What are you doing to provide your sales teams the most impactful and immersive sales training and enablement experiences at your organization?