With the advancement in technology, the sales processes have also been evolving – the sales function is focused more towards excelling in conversations that lead to revenue win to the organization. Especially with the rise of B2B Saas products in the market, the telemarketers in a traditional business have been trained to become inside sales representatives.
Many times, inside sales folks are confused with telemarketers. But that isn’t true! Inside sales representatives are resources in an organization that convert prospects by giving a demo or communicating over an email or phone call after they have shown interest in your product or service. This not only saves costs for an organization to convert leads without stepping intoa the field but ensures sales representatives to become more efficient with their sales.
Although selling over a phone call involves nothing new, it involves a lot of dynamics and strategy while SaaS organizations have come into the picture. As per one of the HBR articles, it has been observed that 46% percent of study participants reported a shift from a field sales model to an inside sales model, while 21% reported a shift from inside sales to a field sales model. More than twice as many study participants reported moving to an inside sales model. Do you still want to follow the traditional way of selling your SaaS product?
With the rise of internet in the market, there are several organizations working on software that cater to businesses that use it as a service. According to Transparency Market Research(TMC), the overall SaaS market will reach $164.29 billion by 2022.
In such a situation, inside sales does the job absolutely right for you – showcasing demos, following up on emails and asking to sign up for a free demo through calls or emails is where the inside sales come into play.
Having said that, inside sales communication involves a lot of strategy in terms of how and when to follow up, along with the right audience. Most sales representatives mistake an inside sale conversation as a telemarketing one and they continuously speak without understanding the problem of the person they are speaking with.
What Inside sales should mean to any business (especially the SaaS ones)?
- Your conversation starts after they have shown interest: One of the key differentiating elements of inside sales is that it is not a “random number-dialing” call to prospects. But reaching out to prospects who have earlier shown some form of interest, by sharing the contact details or signing up for a free demo. It’s always easier to convert someone who comes knocking at your door than vice-versa.
- Using frameworks for better qualification of leads: Inside sales is usually personalized and involves improvisation with respect to the context of the call. You can reach out to your prospects either through an email telling them how your product could help, or simply understanding their goals and needs better. A qualification framework like GPCT or BANT enables Sales reps to understand their leads better and have better conversations.
- Inside sales means more data-backed selling: It’s undeniable that there’s way more data involved in Inside sales as compared to field sales. “Data provides a drawn out map to success-including preferred touchpoints, best time to engage, and how often,” says Manny Medina, CEO of sales automation platform Outreach. Inside sales include different forms of training that focus on strategies more than scripts. Conversation analytics works best when it comes to training inside sales folks. It not only helps them to identify whether a prospect could convert or not but helps them to know how and when they can mold the conversation to win a deal.
The ultimate Inside Sales stack!
When it comes to training the sales folks in an organization, it’s important to have a proper sales stack in place. Therefore, let’s understand what a sales stack means. The Sales Stack is usually referred to as the various sales software that is usually used by the sales team.
While this technology is an essential part of any sales team across the globe, it is important that this technology should consist of some features that help in expediting the inside sales process. Additionally, it should also help the sales folks to deliver the organization with high-quality leads.
Immediate Question – What are these feature(s)? Here we go!
Enablement: Targeting the right people and getting them at the right time to an organization is one of the major attributes of an inside sales personnel. Therefore, a sales stack should have the capability to recognize whether a lead addressed is a correct fit for the organization or not. For instance, Smartech is a great tool to reach out to prospects through multiple channels.
Engagement: Although engaging the hot leads should be at the top of the list for inside sales. But it is also important to consider to what extent and how. These days big organizations share content with hot leads as a part of their engagement strategy. MailChimp could be a great tool to support your engagement strategy, to send out newsletters.
Analytics and Opportunity identification: For any organization to flourish in contemporary society, it is important to evolve with analytics. These days organizations have been using Conversation Analytics to understand if a lead would convert easily or not. Scoop.ai is one of the well-known tools that can be used not only to understand whether a lead is the right fit or not but it also helps the rep in improving the quality of his sales conversations.
Team communication: Although it is important to know manage customer conversation, it is equally important to flourish as a team. Team communication is one of the integral parts while it comes to winning a lead. Knowledge sharing should be easier among teams. Slack is a great tool for sharing documents or connecting with team members from any part of the world.
CRM: Last but not least, a CRM. Lead and contact management is quite important, and it is easier when you have a CRM that does this for you. A sales software should be such that it notifies you and makes you accountable on the follow-up status for the leads that have come in. Zoho CRM can help in streamlining the entire sales cycle and create pipelines that are easily accomplished. Inside sales can have a huge impact when correct technology and methods are adopted with the right amount of training. But all that matters are that whatever you do should enable you to sell more and should let any of your important leads leak out.
Talk to us to know how you can help your Inside sales team flourish.