• Success Factors of Inside Sales Campaigns

    Success Factors of Inside Sales Campaigns

    by John Grady

    Many organizations look for ways to build a strong return on investment when managing an inside sales campaign. There are many factors to consider and it can be quite confusing trying to determine which factors are truly important. As with most topics in marketing and sales there are as many opinions as there are people who offer them!

    Based on our decades of experience in the lead development field, we have synthesized the critical success factors down to five. Yes, there are additions and tweaks to these critical factors one can make. But time and again, these five always show up in our analysis and reports as determinants of success or failure.

    (To better understand the difference between telemarketing, teleprospecting and inside sales click here.)

    An integrated marketing plan outlines the marketing activities that will deliver the greatest impact on your target audience and produce the maximum return on the marketing investment. An integrated plan blends research, marketing and communication strategies together to ensure that every aspect of marketing your association is executed in a cohesive fashion.

    List Quality

    1. Key points
      1. Information relevancy or accuracy of each record is key and measurable. The more inaccurate a list is the more time is lost getting to viable contacts. A list with more than 20% accuracy rates is costing you time and money. At that point it is time to get a new list.
      2. Multiple lists are key and meaningful. More records mean you have a richer set of potential prospects to contact. Multiple lists also help you determine which lists and lists sources (marketing lists, outsourced lists, etc) are more effective for your ROI.
    2. Key Questions
      1. Will you use internal lists or external lists or both?
      2. What are the key factors that you feel will optimize leads for your company (title, industry, geography, etc)?
      3. What metrics will you use to determine list efficacy (such as accuracy rates)?

    Key Messages

    1. Key Point
      1. Being concise and to the point is key. Once contacted, a prospect will likely take 20-30 seconds to make a decision to talk to you, so what you say in that short time is critical to earning a conversation. Obviously without a conversation with the prospect, there is no potential sale.
      2. Having a meaningful message is key. If the message does not speak to the prospect’s pain points with solid solutions then the conversation will quickly be over and end negatively. (To learn more about effective communication click here.)
    2. Key Questions
      1. Is your “elevator pitch direct, concise and meaningful for your target audience?
      2. Have you a list of pertinent questions to ask so as to better assess the prospects pain points, needs and directions?
      3. Is your message one that will address the pain points, needs and directions or your prospects?

    Marketing Alignment

    1. Key Points
      1. Having your inside sales call align with marketing efforts is key. According to industry statistics, a cold call (calling a prospect who has received no prior contact at all) will result in a qualified lead approximately 0.5%-2.0% of the time. A warm call (calling a prospect who has received at least one or multiple contacts prior to the call) will result in a qualified lead approximately 3%-20% of the time. Having marketing and the call align will save you time and increase your results.
      2. Having a marketing offer is key. Your calls are generally to prospects that have not used or tried your products or services before. Having a call to action or an offer, can increase your results dramatically (if you try before X date, if you buy X you can get Y for 50% off, etc).
    2. Key Questions
      1. Who is marketing’s target audience and does that mesh with your sales data?
      2. What is marketing doing and what results have they had to date?
      3. What are the offers you will test?

    People

    1. Key Points
      1. Having the right inside sales people is key. Not only are there selling skills to screen for but industry, product, and other knowledge can increase a program’s effectiveness by multiples. Work with your HR team to ensure the needed filters for screening are in place.
      2. Providing solid, consistent training is key. The more you know about selling skills, product feature benefit stories, frequently asked questions, etc, the better results you will have. Ensure these knowledge components are taught early and often. (To learn more about recruiting and retaining quality employees, click here.)
    2. Key Questions
      1. What are the skills sets you need in your inside sales team?
      2. Is HR in sync with these needs?
      3. What training courses are needed for your team (solution selling, objection handling, product specs, information collection systems, etc)?

    Metrics/Reports

    1. Key Points
      1. Measurement of results is imperative to the success of a lead management system. If you are going to play the game then you must keep score to know if you are winning or losing. Metrics will allow you to determine course corrections and if you will have a successful program or not.
      2. Reporting of results that are concise and reports that are easy to read are key to being able to analyze the data for meaningful insights. They are also needed to keep all key personnel informed about the program and its results.
    2. Key Questions
      1. What metrics will you use to determine effectiveness of hiring, training and results (drop out rates, speed of ramp up, contact rate, etc)?
      2. Do these metrics allow you to critically analyze the data so that you can make changes in strategy or tactics?
      3. Do these metrics align with company goals?

    As stated in the beginning, these are the five critical factors that will strongly determine whether your program is successful or not. Further, paying attention to these factors ongoing will allow you to optimize the success of your program. To hear how we have used integrated marketing and sales efforts to help multiple organizations grow sales, increase their lead pipeline and generate more revenue contact us.

    Want More Insight?

    Contact Invenio Solutions to hear how we have used integrated marketing efforts to help multiple organizations grow sales, increase their lead pipeline and generate more revenue with lead generation and telemarketing programs.

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