Inside sales is here and growing!
Let’s take deeper dive into the inside of Inside Sales.
We have all heard from the credit card, personal loan, insurance and other financial products sales people, who call us and annoy us almost on a daily basis.
Telemarketing, telecalling, telesales and prospecting are all terms which you are familiar with. Telemarketing / telesales/ telecaller are terms used to describe an agent who is selling something that can be sold in one call. Yes or a No. Like the credit card and loans and other smaller financial services. They churn huge number of calls everyday, 150-200 dials, and run daily targets, work with auto dialers and are high energy profiles, with little or no skills other than language skills.
So what is Inside Sales then? How is it different from the above?
The definition of Inside Sales is “a sale made remotely”, which in effect means a sale which is made without meeting the customer face to face.
Inside sales is a process which is replacing field sales and the change is happening fast and furious. Inside sales is growing 300% faster than field sales. By 2020 70% of all tech will be sold by Inside Sales teams. Huge projections, and big enough not to ignore.
So is the average telemarketer going to take away your job? No not really, because the Inside Sales person is very different from the telemarketer. Inside sale is made over multiple calls, emails, demos, webinars and other remote activities, the sales pipeline is managed just the same, forecasting remains the same and followups remain the same. So why the shift?
Some of the key reasons for change are :
1) Cost saving
2) Higher efficiencies
3) Tighter integration between teams involved in the sales process
4) Customers want it
Wait, customers want it? Really? Yes!
Customers prefer to buy a lot of products on the phone, or the website rather than meet a sales person face to face, thats a fact!
Lets take for example that your company wants to move from Excel sheets to a CRM product. The sales and marketing head has done all the research and has zeroed in on top three CRMs which are best suited. Now they call the top 3 companies and ask for a demo, which can be done remotely, they speak to the sales people remotely. They draw up their internal conclusions remotely based on the demos. They ask for quotes and negotiate on the phone and generate the PO and the partner gets into implementation and migration. Well all, Remote!
You might say but meeting the customer gives you perspective, body language, rapport, tea sessions, environment and everything else that is softer, which cannot be gauged on the phone. But your company is assigning very little to zero weight for these softer aspects, which come a very high cost, of you traveling, staying, doing 2 meetings a day and calling your support teams and setting up a demo online while you are sitting with the customer to see for yourself sipping tea if he is smiling or frowning during the demo. This is cost of acquisition. Its this cost which is being questioned today. Inside wins!
Inefficiencies are being questioned too, traveling even within the city takes forever, if you managed to do 3 meetings a day, its a great day, with all the backend prep for these meetings to be effective, eating into your 10~12 hour long day already. Getting the pre-sales teams to respond on time, getting the customer’s tech and finance guys to be in the same conference room is all too much to ask for, add partners and other outside teams, even worse if there is timezones involved.
How much are you packing in a day? Inside wins!
Inside is impacting your bottom-lines and your top-lines.
Ok some of the questions still remain, Is Inside Sales for every organization, every product, every industry, every deal? Is it for you, as a career?
Lets answer these in the next post. Watch this space!
Profile of author:
Bhavani Sidharth – Director of Sales and Marketing at stackArmor
With over 14 years of sale experience. Past sales leadership positions in Dell, Oracle, Akamai