Inside Sales

Problem: Need Revenue, How To Utilize Inside Sales

Many times, management knows or believes that an Inside Sales Department is an efficient channel of distribution by itself, or can be cost-effectively teamed with a Field Sales Force. These teams are sometimes also called TeleSales Teams or Corporate Sales Teams. An Inside Sales Department can sell to new-name accounts as well as the installed base, selling upgrades, add-ons, and services. But management sometimes is not sure how to set this department up or how to integrate it into its existing channels of distribution. Also, there are times a company is just getting into the market and management is not sure what the best sales model is, that is, what mix of field, Inside Sales, and alternate channels to use.

 

Solution: Build An Inside Sales Department

This project is similar to building the Lead Qualification Group, except the focus is on generating sales, not just qualified sales opportunities. In this project, we build, manage, and then transition a 2-8 person Inside Sales Department. We conduct an assessment, develop the strategy, create the processes, hire the people, and manage the group until the goals are being achieved. Then we hire our replacement and transition the group under that person. The fundamental goal is to build an operational department and to develop the “Inside Sales Model,” including figuring out the time it takes to get an Inside Sales Rep to full productivity, determining the best selling strategies, and determining the best way to use demos and evaluations to get a desirable response. The project tasks include:

  • Hold kickoff meeting.
  • Learn the company, product, and industry.
  • Complete an assessment.
  • Present findings and go-forward plan.
  • Create or improve Inside Sales processes, including recording rules of engagement, updating compensation plans, establishing metrics for measuring performance.
  • Optimize the CRM system for the Inside Sales Team.
  • Evaluate and implement sales tools to increase efficiency and productivity.
  • Recruit and hire the Inside Sales Reps and a Inside Sales Manager.
  • Train the Inside Sales Reps.
  • Train the Inside Sales Manager.
  • Manage the dept to reach the quota of revenues per month.
  • Transition the group to the Inside Sales Manager.
  • Conduct final presentation and contract review.

Specific Results

Upon implementing this program for a hardware company, the average annual revenue per Inside Sales Rep reached $3.2 million per year. This translated to an extremely low cost of sales of 2% for the products sold by this Inside Sales Force.

General Benefits

  • Increased revenue at a reduced cost of sales.
  • Determination of the best mix of channels, including Field, Inside Sales, VARS/Resellers.
  • In very fast growing companies, Inside Sales can provide increased “prospect satisfaction,” because they can cover more interested prospects than the Field Reps can. This leads to more account coverage and penetration, which is crucial in a fast growing market where market share is key.