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Inside sales overview


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How to improve your sales engine

Published in: Marketing, Business, Education
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Inside sales overview

  1. 1. Architecting a Sales Engine -By Kiran
  2. 2. Architecting a Sales Engine - Overview  What is Inside Sales  Source of leads  Hiring and handholding your first IS Rep  What are the issues in managing IS Team  Triggers to scale the team  How to scale it up  How to make it an engine  Science behind the sales engine
  3. 3. Inside Sales – What is it?  Done In-house by sales people remotely via Phone, Email, Web and Chat.  Once the leads come inside, this is put through a structured sales funnel  Done by managing a deal through a multi stage process, multi touch points with customer, establishing value and ROI all without visiting the customer  Face to face only when either the sales person or the customer deems so.
  4. 4. Hiring and Handholding your first sales person • • • • Be clear about the KRA’s of this person No compromise on fitment to job and experience Don’t hire a brand, hire to fitment. Define the support system around the sales person • CEO should sell , the last thing to delegate • Cash flow issue is because of no customers • Initial success is not a sales process – not one dot..
  5. 5. Red flags - Managing IS team • • • • • • Finding the right sets of qualified leads and positioning for quick wins Prospects don’t understand value and hence interests don’t end up into engaged conversations Lead nurturing not efficient and hence losing out on leads in the first few stages Not documenting earlier experiences and repeating failures Gut feel for projections giving no lead indicators Not able to leverage existing skillsets and relationships into sales
  6. 6. Triggers to scale the sales team • Enough traction to justify scaling it out • Leads in ideal customer profile • When sales are predictable, todays funnel should predict next few months • Initial few successes out of the model • Entire sales process has been documented • When the dots have become a trend
  7. 7. Metricizing the Sales Engine Dials Contacts Spoken Interests shown Test Detailed discussions Needs Analysis RFP Test • Drive traffic from all lead sources • White paper, email blasts • Talk about solutions, services • Qualifying customers • Issues of customers • Needs Analysis • Solutioning and Credentialization • Educational content conveying YOU • Shortlist of Vendors • Proposals • Negotiation • Closures
  8. 8. How to make the sales team very efficient • Free the sales people to sell and only sell • Entire Frequently Asked Questions/Objections to be documented • • • Company Services/Products Case Studies • Constant training and assessment of the sales people • Consistency of message across collaterals, departments etc
  9. 9. How to innovate in a cluttered market • Find a solution few quarters ahead of time • Get the first few customers – sacrifice margins for acquiring experience • Make a replicable model out of the initial success • Use the initial success to create a niche for yourself • Create a sales and support process to make it an engine • Slap the other services behind your niche service entry
  10. 10. Metrics to increase sales velocity • No. of deals • Average deal size • Average age of lead to closure • Conversion ratios across the sales cycle • Pipe increase month on month • Total customer revenue Sales Velocity = No. of deals in pipe * Average deal size * Conversion Ratio % Length of Sales Cycle