Inside Sales SetUp & Management
What It Is
Inside Sales refers to the sales channel that prospects and closes sales opportunities over the phone. Most sales executives consider Inside Sales as a cheaper alternative to Field Sales that is more appropriate for selling low price and/or low margin products.
While it is true that Inside Sales can be less expensive than Field Sales due to the absence of travel related expenses, the actual skill level of an Inside Sales professional is not necessarily less than that of a Field Sales professional. In fact, highly skilled inside sales professionals can close six and seven figure deals over the phone without ever having met the prospect face to face.
In light of this, the setup of an Inside Sales team is quite different from that of a Field Sales team. Inside Sales people tend to work differently, and they need different performance measurements and management processes.
Inside Sales expert Alicia Assefa has built and managed over 100 inside sales organizations over a career of 25 years, working with startups as well as Fortune 500 companies such as Oracle and CA Technologies. Her definitive Inside Sales book, “Teleprospecting for Executives Who Sell Complex Solutions,” is available on Amazon.
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How It Works
The setup of an Inside Sales organization has the following components:
- The development of the sales process that is optimized for both Inside Sales and the business model it supports (high volume low price sales versus low volume high price sales)
- A job description to identify candidates with the right skills for the required business model
- The development of a compensation package consisting of salary and performance pay—including revenue and non-revenue performance metrics such as Key Performance Indicators (KPIs)
- The recruiting, hiring, and training of top-quality Inside Sales Professionals
- Selection of systems to be used for automating outbound phone calls and a customer relationship manager such as Salesforce.com
- The setup and configuration of these systems
- The management of the team against KPI towards revenue generating performance
It is also important to remember that some states highly regulate Inside Sales for abuses, and the Inside Sales organization must be set up in compliance with both State and Federal laws.
SOMAmetrics has the necessary expertise to deliver a fully compliant and highly effective Inside Sales Organization.
CASE STUDY: Capability Assesments
Our client’s business model was based on volume transactions—high volume of lending was good for business, and the reverse was equally bad. Volumes were at a historically low level.