Product sales especially of the BUSINESS-ON-BUSINESS kind has been starting a rapid transformation. Businesses are purchasing a model where high touch transitions are handled remotely. This is what we now know as inside sales and its now the sales model of choice for several b2b and even b2c companies specially when the sales is of a high ticket item. Product sales of high value goods and services often requires multiple touches (due to the complicated nature of the solutions) from skilled reps. Also b2b sales are quite strategic. Due to these two reasons inside sales suits a business-on-business scenario well using its fairly low cost per touch. It allows companies to effectively engage a high amount of leads and in a more effective manner (a rep can access a CRM system while talking to potential customer and get contextual data as an example). sales
What is Inside Sales?
Backtracking a bit, in simple conditions it is sales done remotely. There are a few common functions that generally fall to an inside sales repetition:
Initial prospecting or business lead generation using cold phone calls, emails or at times using leads gathered by marketing tools like product demos and downloaded content
Inbound sales often arriving in because of this of click to call buttons online pages
Lead qualification and appointment setting which consists of clearing select leads for an additional touch
Maintaining CUSTOMER RELATIONSHIP MANAGEMENT data feeds, since inside sales involves multiple splashes it might be imperative to plainly record the prospect response at each touch
Interior sales is a great deal different telemarketing. Telemarketing is highly scripted and consists of selling low ticket items with no need for multiple touches.
Inside Revenue vs. outside Sales – a Business Owner’s Point of view
To get a b2b business owner or a sales head, especially in a small-medium enterprise scenario the choice to go with a particular sales model is a critical one. For many businesses budgets are a serious limitation and so companies with limited sales budgets begin with inside sales. There are a few more specifics one might need to consider before making such a call though. This kind of is highlighted by the fact that most middle to big size businesses will almost always have an assortment of kind of sales reps sales with each type coping with set of sales functions. Four such factors to consider before you take a decision could be:
Share of wallet of your product or service – if your product or service forms a tiny portion of the consumer’s overall expenditure then inside sales works well. Even so if your product or service is a serious toss of prospect’s expenditure then outside sales might be better able to build trust and assurance
Buyer perception of product value – the product value is not simply dependent on the monetary value of the product. It is also dependent on the risk/cost ratio. As an example for high risk low cost products exterior sales could be an improved idea. Inside sales works more effectively when the perceived value of your offerings is mid to low
Products or services complexity – complex, distributive or ground breaking products often require a certain reassurance during sales that’s more effectively shipped by outside sales.
Common transition sizes – inside sales works best when the standard transition size isn’t very too much (here outside sales can be more effective) and lacking (this region on telemarketing). However more and more companies are planning to make inside sales improve large transaction sizes by using technology like video meeting and online demos effectively
Target geography – if your company covers a huge geography; several markets across time zones then logistically an internal sales team might be your best option
Selecting between the two sales models is not a decision to that is to be dependent on cost only. For your sales division to succeed (and to be frank that what your company’s success will depend on on) an informed and calculated choice must be made about the sales model to deploy. Keep in mind the wrong sales model with the obligation people and a good product/ service will still never be able to produce ends in line with objectives!