Three… it’s a magic number. It’s also the number of additional sales reps you need, for example, if you’re trying to take your software business from $25 million in annual revenue to $50 million.
You have to break down the math and base your ideal number of inside sales reps based on current data within your software sales team.
The following are questions to assess your current software sales team:
● What is the current size of an average client contract?
● How do you reach your yearly revenue?
● How many conversations do you have in a given day to reach yearly revenue?
● How many more calls and appointments do you need to double revenue?
Deep examination of top-of-funnel activities that lead to actual conversion is going to result in the number of closed deals you’re striving for month after month and year after year. You must have certain sales team members responsible for filling up your sales database with fresh contacts. You must have a robust sales team that can support a long software sales cycle, which commonly lasts between six and 12 months.
Typically, having three more reps provides a software sales team with the resources necessary to identify and pass along more qualified leads, set more appointments and pass along more vetted, sales-ready prospects to reps in the field. This is the sales strategy that leads to more closed deals and the revenue line moving in a steady upward direction.
Three reps is essentially what it takes to invigorate the sales funnel and supplement your results to achieve targeted sales expectations.
For The 3 Best Reps, Hire An Outsourced Sales Partner
Especially when revenue growth is an immediate goal for your software company, an outsourced sales partnership provides expert additional resources, wherever your sales team shows signs for additional expertise or manpower.
Whether bringing in more qualified leads, training on best practices or being the extra hands that help close a deal, your outsourced sales partner acts as an extension of the sales team you already have in place.
How much does the technology market change in the course of a year? A lot.
At this point, you may be thinking to yourself, “We could just hire three more sales reps internally and see the same results.” Over time, perhaps even with a year, this may be true, as your new team members are up and running at a rate necessary to hit revenue targets.
For marked growth to occur, in technology you must capitalize on the moment. Partnering with seasoned, effective sales staff ensures there are no barriers to selling new software products while the technology is still innovative and relevant.
When you outsource to a sales partner for lead generation at the top of your sales funnel, you avoid the increased overhead and administrative costs associated with simply hiring more internal sales staff. At the same time, your outsourced team of three is consistent at the onset, which leads to decreased ramp-up time and more agility to build results faster.
Saving this kind of money and time is a critical part of your software company’s journey to doubling yearly revenues.
Ready to read a real-life example of how outsourcing to a sales expert helped a global manufacturer of software accelerate growth?