At some point, every firm has to face these dilemma: how to control lead generation costs, reduce the closure time of prospects, while increasing revenues. More companies are finding that the simplest solution lies in optimizing the output of the sales team. According to a study published on insidersales.com in 2013, inside sales have grown to over 300% in popularity in the last 2 years. They also show that inside sales are more cost effective than field sales.
Inside sales model has proven to be extremely successful for firms that are wise enough to adopt it. This is despite the fact that making the switch over to this type of a sales model can be expensive in the short run.
How technology can make inside sales effective
The technologies used in sales are continuously getting more and more innovative and any sales team that hopes to succeed needs to be in the loop. Technology adoption opens up the sales team to certain advantages such as email tracking, predictive lead sorting and sales forecasting.
The introduction of sales acceleration technologies has proven to have number of advantages. Among these are the identification of prospects and the determination of better methods to engage with such prospects. Such tools have already been proven useful in increase sales. Such advanced technology bridges the gap of human limitation. This means that where relying on human abilities has failed; technology takes over.
One of the most important problems that each firm faces in relation to sales is how to best find potential customers. Thanks to better technology, sales teams can now find leads and even know what these prospects need. This makes it possible for them to design their entire sales pitch around there needs.
For any sales team that has considered making the switch or adopting technology one question is crucial: what do you get out of it? Below are six solid benefits that a sales team can reap from adopting new and reliable technologies:
- Performance improvement : The combination of data science and sales processes opens up performance to huge improvement. It becomes easier for sales teams to achieve their targets. By focussing on data available to the firm it becomes possible to:
- Know who to target with what products
- Hit prospects with emails or calls at the right time
- Know which collateral to use for a particular prospect
- Know which sales rep has a better chance of closing certain prospect
- Focussed efforts: The ability to look at trends and prospect spending behavior means that a sales rep does not waste time guessing. With an up to date system sales team knows who to message and what to message them about. It means the risk of pitching the wrong product to a prospect is minimized. Technology makes it possible to predict which content to feed certain prospects for better chances at conversions. This type of intuitive system makes great value for effort based on the efficiency in terms of time-saving and conversion.
- Improve lead conversions: Knowing when to engage a lead is one of the best ways of ensuring conversions. With technologies such as email tracking, the sales rep can contact a prospect as soon as they open their email. This has been shown to improve conversion rates by up to 21 times. With the right app a sales rep knows which content a prospect is interested in by looking at what they open and how long they stay on this content. With this type of an insider look they have a better chance at closing a deal.
- Better hiring decisions: One of the biggest challenges for most firms is getting the right sales team. Some hiring managers admit relying only on a their intuition about prospective reps. Technology brings in data-driven assessments of your prospective hires which make for better decision. Hiring the right staff then translates to better sales.
- Build motivation: For inside sales as a model to thrive, it is highly dependent on the sales reps. This means that they need to be adequately motivated at all times. The mangers can use technology to determine the best ways to motivate and even guide their reps. For example; good conversion figures can be a motivating factor for reps. By figuring out which type of prospects a certain rep is best at handling, a manager can ensure that the rep deals ore.
With similar prospects. This would improve chances of conversion which would motivate the rep.With the changing times and trends in the business world, each firm needs to adapt to survive. Embracing technology in all departments is one way that a firm can adapt. There is a wide variety of technological advancements that make sales easier and more effective. It is in the best interest of a firm to equip their sales team with such technology.