Success Factors for Highly Effective Inside Sales Teams

White P aper

Success Factors for
Highly Effective Inside Sales Teams A PhoneWorks white paper, courtesy of Marketo
Introduction Today's sales leader is confronted with a dazzling list of possibilities to enhance and increase revenues: CRM systems, new point solutions, channel strategies, Internet technologies, targeted lead generation programs, and many more. At the same time there is an unprecedented level of scrutiny into sales operations and demand for more reliable revenue production and forecasting. Following the burst of the "tech bubble" and in a climate of increased accountability, few executive management teams are willing to leave sales alone and hope for the best. Instead, many companies strive to balance the efforts of various internal teams to maximize sales productivity. Increasingly, a key component in realizing this vision is having an inside sales team in addition to a field-based sales team. In our 2005 annual Inside/Telesales survey, 40% of responding companies have an inside sales group. Our survey indicates that more than half (56%) of inside sales personnel have less than two years of experience and annual turnover is 42%. With ramp-up times averaging more than six months, getting new people up to speed quickly and supplying your best reps with the tools and motivation needed to retain them are of paramount importance. You'll want to consider the several best practices outlined here to establish and manage your inside sales team. Another statistic to keep in mind: 25% of inside sales "One of every four hours of rep time is spent either researching accounts or on possible selling time was administrative tasks. That is a great deal of time, but it's siphoned off to do research and important to be prepared before that first call. Are those admin tasks." reps who aren't doing as much research adequately prepared?
Importance of Inside Sales Since inside sales is often the first touch point with a prospect, it is critical that the sales organization have the proper level of focus and investment. When building or restructuring an inside sales operation, there are a number of factors that can make or break the effort. 1) Have a Strategic Plan Rather than simply hiring a Business Goals number of inside sales people and putting them on the phone, it is Measurement Strategic Design Plan imperative that you first design and plan your inside sales operation. Buy-in Budget Many companies skip this essential first step and Plan/Timeline never achieve the powerful
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results that are possible with an inside sales strategy that has been carefully thought through, integrated with the rest of the business, and "sold" internally as well as to your customers. Include your management team and key staff to determine how inside sales can best contribute to your overall business goals. Establish a complete set of specific and measurable objectives for the group. Prepare a detailed implementation plan, budget and timeframe that will serve as a roadmap for success. This strategic plan is a living document that should be revised as changes occur within sales. 2) Focus on Hiring the Right People, Managing and Motivating With a winning strategy in place and the right inside sales people on your team, superior results are sure to follow. If you hire the wrong people, you won't have a chance of success. You can avoid the biggest mistakes by paying attention to: . Appropriate Hiring Profiles and Interviews Your implementation plan should clearly articulate the appropriate hiring profiles, experience and skills required to be successful in an inside sales role in your company. Phone interviews and face-to-face interviews are critical given the nature of an inside sales professional's job. . Professional Inside Sales Management An inside sales team needs a dedicated, experienced manager. Numerous programs fail when a VP of sales or marketing is called upon to manage the team on top of other responsibilities. Similarly, if you are starting up a new group or restructuring an existing one, you should not hire an inside sales rep for a first-time management role, or an inside sales manager who has never created a group from scratch. The design, building and fine-tuning required in a new or restructured inside sales operation are highly specialized skills, without which an inexpe... [download for more]