Traditionally, sales has involved face-to-face conversations, but the world of sales is rapidly evolving. More often than not, your sales reps are interacting with buyers remotely.
Adapting to this new way of selling isn’t easy. There are many challenges you face as a sales leader to build out a successful inside sales organization. To help, we decided to partner up with our friends over at the American Association of Inside Sales Professionals (AA-ISP) to better understand what really sets best-in-class inside sales organizations apart.
This new research compares processes and practices at companies with significant revenue growth (more than 20 percent year-over-year) to those that saw small revenue increases (five to 20 percent) or had relatively flat or declining revenues. The survey of more than 400 inside sales professionals provides many guidelines for success in this rapidly changing sales environment. Here are three key findings from the study:
Don’t be afraid to challenge your sales reps – many of the top performing companies in our survey assigned more leads per rep. In fact, companies with significant revenue growth assigned 78 percent more new leads to each salesperson per day. And this same group of high-performing companies performed well given the challenge, making 50 percent more calls per salesperson. Word of caution, however, don’t pile on the workload too much without giving your sales reps the tools to be successful.
Automate early sales funnel activities – Our research also uncovered that companies that automate early sales funnel activities, such as lead capture and lead distribution, were more likely to experience revenue growth. In fact, companies with the highest revenue gains were twice as likely to automatically enter 80 percent or more of their leads into their data management solution. Lead redistribution within 15 minutes was three times more common at companies with significant revenue growth. And finally, when companies use leads scoring to prioritize leads, they are 38 percent more likely to experience revenue growth.
Don’t delay – We have a number of studies that emphasize speed-to-contact as the number one driver of lead conversion, so whenever we have the chance to test this theory we do. In this study we found similar results. Companies with significant revenue growth were twice as likely to call new prospects within five minutes as those with flat or declining revenue. And a new element we looked at in this study was the time allocated for prep. When calling on new leads look for ways to help your reps prep faster. Our research found the fastest-growing companies spent the least amount of time on pre-call research, usually under five minutes per prospect.
Our new Inside Sales Process Report is packed full of great insights. Download the full study here for more inspiration to hopefully fuel experimentation and learning. Also, let us know what winning strategies you’ve deployed in the comment section below.
About the author: Jorge Jeffery joined Velocify in 2011 and is senior manager of strategic intelligence. Jorge has been instrumental in mining data from the more than 1,500 sales teams that leverage Velocify’s solutions today. Insights gleaned help establish best practices for Velocify clients in order to maximize revenue potential.