Post on 21-Jan-2016
© Scott A. Inks – 2015
Succeeding in a Challenging Environment
Inside Sales Strategies and TacticsScott A. Inks, Ph.D.
Director, H.H. Gregg Center for Professional SellingAssociate Professor of Marketing
Ball State Universitysinks@bsu.edu
© Scott A. Inks – 2015
Agenda
• Who We are• The Changing Environment• Lead Generation• Getting to the Decision-Maker• Trust• Sales Process and Analytics• Staying Motivated
© Scott A. Inks – 2015
Who You Are . . .
• Dental Supplies
• Insurance
• Consulting
• Staffing
• Television
• Cloud-Based Services
• Document Management
• Office Furniture
• Packaging
• Flooring
• Housing
• Energy
• Wildlife
• Higher Education
© Scott A. Inks – 2015
Who You Are . . .
• LinkedIn Users
• LinkedIn Premium Users
• Relatively new to current position
• Several years at current position
• University of Georgia
• Georgia Southern University
• Mississippi State University
• Loyola University
• Alabama & Auburn University
• Kennesaw State University
• Ball State University
• Purdue University
• Indiana University
• Tennessee Tech
• Boston College
© Scott A. Inks – 2015
Inside Sales - The Changing Environment
© Scott A. Inks – 2015
The Changing Environment
• Increased global competition
• Technology empowered buyers
• Technology empowered sellers
• Communications Technology • Social Media Marketing• Social Selling• Content Marketing• Web Conferencing
• Digital Natives
© Scott A. Inks – 2015
Growth in Inside Sales
• B2B buyers are becoming more comfortable conducting business remotely, and using the web and social media
• Online webinar and videoconferencing technologies are getting better, easier, and more cost effective.
• Pressure to reduce selling costs
© Scott A. Inks – 2015
What are the five biggest challenges facing the salespeople at your table?
Group Fun!
5Minutes
© Scott A. Inks – 2015
Inside Sales - Sales Representative Challenges in 2015
1. Having enough leads2. Accessing a decision maker3. Staying motivated4. Managing calendar events5. Lack of product knowledge
© Scott A. Inks – 2015
Inside Sales - Sales Representative Challenges in 2015
“Reducing Demo Evaporation Rate – when we setup a demonstration, prospects only show up 30% of the time. This is the one advantage of outside sales, they can’t hide. To combat this, we stress the importance of uncovering key needs, so the prospect has a reason to show up.”
© Scott A. Inks – 2015
Inside Sales - Sales Representative Challenges in 2015
“Connecting with Decision Makers – our current connect rate is 9% which is industry standard. We purchase a tool called, InsideSales, that allows us to mimic the area code of the prospect we are calling. Our connect rate has doubled since prospects think someone local is reaching out.”
© Scott A. Inks – 2015
Inside Sales - Sales Representative Challenges in 2015
“Burnout – making 80-100 calls a day can be very taxing. We stress the importance of quality over quantity. I would rather have someone make 30 calls and connect with 5 people rather than make 100 calls and connect with 6 people. We teach reps to get direct lines to bypass the gatekeepers.”
© Scott A. Inks – 2015
Lead Generation
© Scott A. Inks – 2015
In order of effectiveness, what are the 3 primary lead gen methods used by salespeople at your table?
Group Fun!
5Minutes
© Scott A. Inks – 2015
Lead Generation – Methods
Methods• Referrals – manage with care• Networking (personal and digital)• List providers• 3rd Party lead qualifiers• Marketing• Content Marketing• Other
© Scott A. Inks – 2015
Lead Generation – Strategic Approach
Strategy• Set Objectives• Allocate Resources• Schedule it!• Employ Multiple Methods• Measure Results (ROI)• Make Adjustments
© Scott A. Inks – 2015
Getting to the Decision Maker
© Scott A. Inks – 2015
In order of effectiveness, what are 3 primary methods of successfully working with the Gatekeeper?
Group Fun!
5Minutes
© Scott A. Inks – 2015
The Gatekeeper
Working through the gatekeeper
• Recognize and acknowledge their value
• Be sincere and project confidence
• Show gratitude and earn trust
• Don’t “Pitch”
Working around the gatekeeper
• Start with someone else in the organization
• Use LinkedIn to gain access to contact
© Scott A. Inks – 2015
The Call
© Scott A. Inks – 2015
Preparation
• Don’t read the script, KNOW the part
• Practice (role play with different people)
• Do the homework – leverage technology
• Know the objective
• Organize resources
© Scott A. Inks – 2015
Preparation
• Eliminate Distractions
• Single-Task not Multi-Task
• Focus on the Contact
• Maintain Professional Posture
• Exude Energy and Confidence
• Own a Positive Attitude
• Control Speech Rate and Tone
© Scott A. Inks – 2015
Engaging the Decision-Maker
© Scott A. Inks – 2015
What Decision-Makers are Saying about Salespeople: Research from the Field
© Scott A. Inks – 2015
Why No Second Opportunity . . .
• Salesperson views interaction as a sales opportunity for a product rather than an opportunity to address my critical business issues.
• Presents their products or services as the solution to everyone's problems, as apposed to presenting it as a specific solution to your Company's needs.
© Scott A. Inks – 2015
Why No Second Opportunity . . .
• Ignore my business need and continue to point out things about their product/service that I don't care about.
• High pressure pitch that has no or little relevance to my business. Didn't do homework.
• They spend more time selling me what they have, rather than understanding what I need. They try to succeed for themselves not develop a win-win situation.
© Scott A. Inks – 2015
Why No Second Opportunity (Summary)
• Lack of preparation
• Lack of concern
• Overpromise
• Wasting time
• Isn’t connecting
• Lack of value
© Scott A. Inks – 2015
Target Market – Good, Buyer Persona - Better
A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals. The more detailed you are, the better.
© Scott A. Inks – 2015
Buyer Personas – Characteristics
• Key responsibilities
• How value is perceived
• How risk is mitigated
• Responsiveness to salespeople
• Buying decision process
• Social receptivity
© Scott A. Inks – 2015
Buyer Personas – Characteristics
Susan
• Senior Level Sales Manager
• Responsible for recruiting and on-boarding sales talent
• Looking for ways to improve recruiting efficiency
• Willing to invest time and money into college recruiting if the fit is right
• Needs “proof of concept”
• Has recruiting budget authority
• Works with university career services but doesn’t value university-wide career fairs
• Prefers phone and email
© Scott A. Inks – 2015
Work as group to complete the following lists?
Group Fun!
10Minutes
© Scott A. Inks – 2015
List 5 Types of Value Your Persona Seeks
1
2
3
4
5
Personal Service – values being known and treated as a priority
“Good Deal” – values the feeling she left no money on the table
Security – she wants to be protected against the consequences of uncertainty
© Scott A. Inks – 2015
List 5 Ways Your Persona Mitigates Risk
1
2
3
4
5
She reads white papers and participates in LinkedIn groups
She likes to see independent third-party support
She wants assurance of post-purchase customer support
© Scott A. Inks – 2015
How might you use this information?
© Scott A. Inks – 2015
© Scott A. Inks – 2015
Staying Motivated
© Scott A. Inks – 2015
Mental Preparation
• Read “Selling with a Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud” by L. McLeod
• Seek out satisfied customers – Remind yourself of the value you provide
• Never compromise your integrity or ethical standards
• Hang out with positive people
• Don’t underestimate the power of the daily affirmation
• Take a breather….listen to something that get’s you going!
© Scott A. Inks – 2015
General Strategies for Improvement
1. Role Play (workshop)• Specific Scenarios• Ad hoc• With prep• Spontaneous
2. Observer Others
3. Study
4. Think Strategically“The more I practice, the luckier I get.”
- Arnold Palmer
© Scott A. Inks – 2015
Questions and Discussion