Presentation 6 secrets inside sales - march 2014 pdf

6 Secrets to a Successful Inside Sales Organiza5on

Craig Rosenberg @funnelholic

Amnon Mishor @amnonmis

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@Leadspace @funnelholic

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#insidesales

Amnon Mishor, Founder & VP Products Confiden5al

The Data Challenges

•  Engaging with real people •  Engaging with people that are likely to buy

•  Engaging with the right message

•  Saving 5me on search and bad data

Confiden5al

Ideal Customer Profiles

1.  Sales & marke5ng input

2.  Model your business

3.  Tune with analy.cs

Sales Marke.ng Confiden5al

New Era of Lead and Account Data

Confiden5al

Lead Segmenta.on 70% match rate Propensity Score +30% conversion

Social Valida.on 92% accuracy

THANK YOU

Confiden5al

What is Sales Development?

9 @funnelholic

Sales development is a phone-‐based team that iden.fies, connects with, and qualifies leads. When a lead is qualified, they then pass the qualified lead to a

sales person who takes over for the rest of the sales process.

“Put simply, SDRs (Sales Development Reps) pass the baton between marke.ng and sales.”

(Marketo Defini.ve Guide to Sales Lead Qualifica.on and Sales Development)

Sales Development is Also Known as….

10 @funnelholic

ü  Business Development ü  Lead Development ü  Lead Qualifica.on ü  Tele-‐qualifica.on ü  Tele-‐sales ü  Inside Sales

The Case for Sales Development

© 2014 TOPO

Reason #1: It’s Hard to Reach People

12 @funnelholic Datat from Vosight

•  12.73 dials-‐to-‐connects w/ direct phone numbers •  18.83 dials-‐to-‐connects with switchboard numbers •  22.5 dials to one meaningful conversa5on (manager level) •  30 dials to one meaningful conversa5on with execu5ves •  3 meaningful conversa5ons to 1 appointment

60-‐90 dials to an appointment!

Reason #2: Follow up Speed

13 @funnelholic Data from Velocify

Sales development is a phone-‐based team that iden.fies, connects with, and qualifies leads. When a lead is qualified, they then pass the qualified lead to a

sales person who takes over for the rest of the sales process.

“Put simply, SDRs (Sales Development Reps) pass the baton between marke.ng and sales.”

(Marketo Defini.ve Guide to Sales Lead Qualifica.on and Sales Development)

Reason #3: Conversion

14 @funnelholic

Two technology clients sold compe..ve solu.ons to the same type of buyer.

The company with an op.mized sales development converted these leads at 40%. The other organiza.on passed leads directly to quota-‐carrying

sales reps and converted leads at less than 5%. .

Reason #4: Sales and Marke.ng Alignment

15 @funnelholic

Marke5ng: “Sales doesn’t follow up on my leads.”

Sales: “The leads suck”

Very simply, with a well-‐managed sales development team, lead follow up issues are solved. As for the issue of marke5ng’s leads “sucking”, sales

development solves this problem by sending sales only qualified leads ready to talk.

.

Reason #5: Sales Effec.veness

16 @funnelholic Data from Marketo Sales Lead Qualifica5on and Sales Development Guide

•  5% increase in selling 5me that can yield a 20% increase in revenue; •  1% increase in pipeline value that can yield a 25% increase in revenue;

and •  15% decrease in sales cycle length that can yield a 30% increase in

revenue .

The 6 Attributes of a Successful Sales Development Team

© 2014 TOPO

The Qualified Lead Definition

© 2014 TOPO

The Key to Success: The QL Defini.on

19 @funnelholic

•  Ambiguity destroys the SDR-‐Sales rela5onship •  The QL Defini5on determines strategy, people, process, and technology

.

Anatomy of the Qualified Lead

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Customer Profile (Who is our target customer?) ü  Company Type (size, ver5cal, etc) ü  Buyer Type (Role) ü  Loca5on

Environmental Data ü  Technology qualifica5ons

Breakdown of the QL Defini.on

1

2

4 Handoff Informa.on (how do SDR’s pass QL’s to sales) ü  Ac5vity (mee5ng or intro) ü  Required data (phone number, etc ü  Timing

3

Behavioral Data (When do we pass the lead?) ü  BANT versus Interest?

Best Prac.ces

•  Commit to develop and follow the qualified lead defini.on

•  Get anecdotal feedback on the defini.on from sales

•  Use data (CRM and ERP) to iden.fy your most profitable and likely buyers

•  Forecast whether the SD team can deliver enough QLs

•  Poten.ally create QLs for each buyer type

•  Sign and publish the QL defini.on

•  Develop SLA’s: Marke.ng will sign up to provide SDR team with enough leads, SDR team will sign up for a number of QLs, and sales will sign up to follow up on QL handoff and provide feedback

@funnelholic

Qualified Lead Template

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Informa.on Qualified Lead Requirements Example

Customer Profile

Company Size 100+ employees

Revenue Not applicable

Loca5on North America

Title or Role Manager, Director, or VP of Marke5ng

Industry All excluding government and non-‐profit

Behavioral Informa.on

Has pain The right type of pain or challenge for your solu5on

Budget Has budget or ability to get budget

Timeframe Has firm 5meframe or enough urgency to work on this project

Poten5al Deal Size Some people use number of users or poten5al spend

Agrees to appointment with sales Answered “yes” to hearing more from a sales person

If a lead performs any of the aforemen1oned ac1ons, the lead fits behavioral qualifica1on requirements

Environmental Informa.on

Technical Requirements Number of servers, desktops, etc

Handoff Informa.on

SDR-‐to-‐sales handoff point Prospect amends appointment with sales

@funnelholic Template provided by TOPO

The Importance of the Customer Profile

22 @funnelholic

•  The customer profile is more than just part of the defini5on, it helps dictate scoring, data, focus, messaging, etc

•  Just answer the ques5on: Who are the most ideal people and organiza5ons we sell to?

•  This is key to alignment –“Just get me the right person and the right company with the right pain and my guys should be able to do the rest” – VP of Sales

Develop a Process

© 2014 TOPO

The Qualified Lead Process

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Inbound Lead Score Append Outreach QL

Nurture

•  Understand your QL defini5on (Customer Profile, etc) •  Design your process to get to maximum number of QLs •  Develop the support processes necessary to execute (CRM, Data, Scoring, Dialing

Technology, etc)

@funnelholic

Scoring

© 2014 TOPO

Consump.on Scoring versus…

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If the customer profile fits, who cares what they downloaded?*

*Except to open up the conversa.on of course….

@funnelholic

Customer Scoring

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The most important factors: ü  Right organiza5on ü  Right interest ü  Right person If they fit the bill, it doesn’t mamer if they downloaded one or 20 whitepapers If you don’t have right person, but you have right interest and right organiza5on – keep following!

@funnelholic

•  Most sales people do this ins5nc5vely •  High targets get maximum amount of outreach •  Low targets get less and poten5ally moved into marke5ng funnel quicker

Pre-‐Call Scoring

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Target Factors Short-‐term play

A Right company (ver5cal, size, etc) Right person Right ac5vity (contact us, free-‐trial)

High touch: 6-‐8 touches in two weeks Triangulate on decision makers but work with your champion

A-‐ Right company Right person Ac5vity but no indicators

High touch: 6-‐8 touches in two weeks Triangulate on decision makers but work with your champion

B+ Right company Wrong person Right ac5vity or any ac5vity

Iden5fy right person

Low No data triggers One touch depending on work load

@funnelholic

The 3 Things SDRs Need from Data

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1.   Accuracy ü  SDR effec5veness rises by 10-‐15% with bemer data (but isn’t that obvious?) 2.   Intelligence ü  Who is the buyer? ü  What have they done recently? ü  What should I say to them? 3.   Stakeholder Map ü  Who else mamers in the organiza5on to this decision?

Outreach Best Prac.ces

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First contact should happen within 5 minutes of first registra.on. Use a 2 week, mul.-‐touch campaign of at least 8 touches for each prospect for your high targets Use the “Double-‐Tap” •  Leave voicemail and send email

within minutes Give SDRs a clear understanding of what it will take to reach and convert a lead to a Qualified Lead Use scoring to ensure maximum effort against high targets

@funnelholic

Sample Call Pamern (high target)

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Amempt Business Day Step Descrip.on

0 1 Research and discover

1 1 Double Tap Voicemail/Email combo

3 1-‐2 Zero out Try to contact buyer live – if no contact, hang up


6 3 Zero out Try to contact buyer live – if no contact, hang up

7 4 Double tap Voicemail/Email combo

9 7-‐8 Final double tap Use combina5on of voicemail and email with final outreach and note that you will no longer be contac5ng

Ongoing Ongoing Nurture Send emails and occasional calls with value-‐add content every 2-‐3 weeks

@funnelholic

Sell Inbound Like Outbound

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This is a very hot best prac5ce right now If the org fits the customer profile, then triangulate around the lead like you would in an outbound scenario. Contact the decision maker AND other important stakeholders early in the process

@funnelholic

Sample Call Pamern (high target)

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Amempt Business Day Step Descrip.on

0 1 Research and discover


1 1 Decision Maker Double Tap

Outreach to decision maker

3 1-‐2 Zero out Try to contact buyer live – if no contact, hang up


4 2 Decision Maker Double Tap

Outreach to decision maker

6 3 Zero out Try to contact buyer live – if no contact, hang up

7 4 Double tap Voicemail/Email combo

9 7-‐8 Final double tap Use combina5on of voicemail and email

Ongoing Ongoing Nurture Send emails and occasional calls with value-‐add content every 2-‐3 weeks

@funnelholic

Call High Referencing the Ini.al Interest

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Dear <decision maker>, Recently <Champion> started a free trial of our XX solu5on. I’d like to introduce myself and schedule a 15 minute call… Craig note: Have content for execu5ves prepared

@funnelholic

Frontline Coaching is Cri.cal

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ü  5-‐6 hours of dedicated coaching/month ü  Role-‐playing, messaging, monitoring

@funnelholic

Protec.on

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SDRs sit between sales and marke5ng – They always need someone to defend them

@funnelholic

Ques5ons?

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Presentation 6 secrets inside sales - march 2014 pdf

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Transcript of Presentation 6 secrets inside sales - march 2014 pdf