Featuring Gabe Larsen, Director of Momentum at InsideSales.com
Inside sales is growing three times faster than traditional sales. To help you better understand this shifting sales environment, Gabe Larsen will share which trends have forever changed selling and how organizations can adapt to stay ahead.
In this webinar you will learn:
-How sales specialization can help achieve a higher close rate
-The keys needed to map your sales process
-How to create a prioritization strategy that aligns effort with your best prospects
For those of you left standing. If you’ve never seen our ebook, webinar, videos, raise your hand.
If you’re still standing come and grab a treat from our booht; If you’re a customer come grab two.
When Jim Steele first showed up at Salesforce.com in 2002 to lead sales efforts, the first thing he asked Marc Benioff was, “Okay, where is the sales team? I’d like to meet them.”
“They’re right here,” said Marc.
“No, I mean the sales team—the ones who meet with customers. These guys are wearing shorts and sitting at cubicles.”
“Yup. This is our sales team.”
The world of sales was changing dramatically. The days of calling up your buddies and inviting them to the golf course to smoke stogies and shake hands to close your next potential deal was over. No longer were face-to-face lunches and conference-room meetings the only way to sell complex things and the velocity model was born.
There are three areas of the velocigy model I want to cover:
1) Demand Generation - With the boom of the internet the availability of massive amounts of information online buyers began to educate themselves. Today, 60% of buying decisions are made before a customer talks to a company.
2) Inside Sales - Through the use of technology professional sales teams began selling more and more remote from their prospects creating a model that is now referred to as inside selling. Today, inside sales as an industry is growing 3x faster than traditional sales and 60% of what field sales does is considered remote from their prospects.
3) Sales Operations - With an inside selling motion vasts amounts of data were created driving us to big data revolution where data and science could predict and prescribe the path to sales acceleration. Today only 3% of the world’s data get’s analyzed.
In a high velocity model (typically segment with a focus on smb and mid market) you demand generatino should be producing up to 50% of your pipeline. B2B Communicaty says fast growing tech companies get 60% of their leads from demand gen 60%. But no matter how you slice the pie demand generation will not provide your enitre piplien so you better have a freakin strategy for the for the other 50% percent.
I know you’ve heard sales and makreting don’t get along. Sales – you send me crappy leads and Marketing – you don’t follow up on my crappy leads so why would I send them.
Yes we want them to get along but I’m afraid we’d focused too much on getting along and not enough on doing the job sales and marketing need to be doing.
Marketing! I need you produce 50% of my pipe and I need you to do it with the following strategy Killer Website with paid and organic search optmized to the nth degree Blog and content strategy that rivals hubspot Permission-based email DB with sequencing strategies and drip campaigns Event, social, and video strategy
Sales Sales! You have to produce the other half of you pipeline and downloading some names from Linkedin and wasting half of your day social selling them is not going to cut it. It’s not a velocity model. It’s not sales on rails. It’s cowboy town.
Marketing needs to market and Sales needs to market if you’re going to effectively fill your pipeline.
Sales needs to become markerters and learn what the word campaigns means. Start with this. Who and What. Twice a month identify a segment of your database or use linkedin to target a certain vertifcal then decide on how to attack them. What’s your offer? Webinar, Ebook, Event, Dinner?
Think about it. Assembly line sales. That’s what Henry Ford to to manufacturing. He revolutionized it by creating an assembly line, staffed with all kinds of specialists excelling in their individual skill sets to contribute to the quality of the whole.
Whether you like it or not inside sales has slowly moved in this same direction. Rather than rely on one sales person to do everything—prospect, qualify, sell, close and continually manage the account—multiple sales specialties have been created along the sales conveyer belt (CRM).
And like a manufacturing plant, this allows for more throughput and better quality performance.
We did a study in partnership with Dr. James Olldroyd a fellow at MIT and he fundamentally proved the generalist model – where one person qualifies and closes and manages is wrong. If you can split your closing activites from your appointment setting acitivites you have a 7pt higher close rate.
So how does this look? How are companies specializing. I want to show you what I’ve found. Having been at InsideSales.com for 3 years I’ve seen over 250 sales models from 3m and netapp to docusign and apptus. Here is how companies are specialzing. Are you ready?
The demand generation focus plays a predominant role with a dedicated events team to help generate demand. The SDR function is blowing up. My favorite is the inbound response team and the outbound prospecting team as well as a dedicated social selling team. Oh my goodness. A dedicated social selling team that resides in the SDR function so that not every sales rep has to waste time parroosing Linkedin is genious.
On the closing side it’s often broken up by territory, product, and vertical and it’s suported by some form of a sales enginnerr.
The success organization is morphiing as we speak. You have a client success manager, and implementaiton consultant and a support org but just recetnly we’ve started to see more of that role called an expander or strategic growth consultant that’s dediced the upselling and cross selling so the client success manager can focus on client success.
Can you belive it? What 20 years ago used to be one person is now 20 people and you know what? The qualifty and qualify is increasing. Now this is a velcity model, this is a machine!
Now people always ask? Gabe what’s the path to specialization. Look every company is unique but often there is tyipcal path companies take as they look to specialize.
Deep dive into my own experience Worked with 200 clients What I’ve seen and what acutally works
Raise the pan – no need to give opinions just show them what is happening, add first touch email before first call
Bubbles come in later – something at the end, more conversations, more conversions
I challenge you
I call it the salesforce stare
Prioritization is left to the sales rep Lead response prioritization with factors like immediacy, persistency, time of day, etc. De-prioritization strategieslike wrong time zones, non-headquarters location, do not call lists, or duplicates Engagement level prioritization with factors like lead source and offer content type Contact level prioritization with authority factors like tittle level, title function, direct dial number access Account level prioritization with need factors like size, industry, and growth Prescriptive and predictive systems to blend and balance prioritization
The world of sales was changing dramatically. The days of calling up your buddies and inviting them to the golf course to smoke stogies and shake hands to close your next potential deal was over. No longer were face-to-face lunches and conference-room meetings the only way to sell complex things like enterprise software.
With the boom of the internet the availability of massive amounts of information online buyers began to educate themselves. Today, 60% of buying decisions are made before a customer talks to a company.
Through the use of technology professional sales teams began selling more and more remote from their prospects creating a model that is now referred to as inside selling. Today, inside sales as an industry is growing 3x faster than traditional sales and 60% of what field sales does is considered remote from their prospects.
Lastly, with an inside selling motion vasts amounts of data were created driving us to big data revolution where data and science could predict and prescribe the path to sales acceleration. Today only 3% of the world’s data get’s analyzed.
The High Velocity Inside Sales Model
The High Velocity Sales Model
SALES IN THE CLOUD
HOW THIS WILL WORK
• This webinar will last about an hour
• Type in your questions in the Q&A box as you think of them
• Write down some action items
• This is being recorded… I’ll tell you how to access the
recording at the end
Director of Momentum
President, AA-ISP Utah Chapter
Ve • lo • ci • ty
1. Rapidity of motion or operation; swiftness; speed
2. The time rate of change
3. The rate of speed with which something happens; rapidity of
action or reaction
I’VE NEVER MAPPED OUT MY
SALES PROCESS BEGINNING TO
Of companies have no
adopted sales process
Current State Sales Process
Make notes in Notebook/
Tasks/Calendar to follow up
Save notes in SF
Assign to appropriate group
Plan out future contact periods
Task Mgt Time
VM / Email
Notes in SFDC /
Check calendar / Thumb through
follow-up forms 10-15 min
Task Mgt Time
First touch: Email
Call back using PowerDialer™
Save notes in SF
Assign to appropriate group
KEYS TO MAPPING
- Know functional areas
- Map “as is”
- Find strengths and weaknesses
- Create future state
- Have governance structure