Daily Sales Minute from Dreamforce – Day 3!

Dear Leaders,

Back at Dreamforce for Day 3. Great tips and trends from Trish Bertuzzi and Jill Konrath.

‘Til next time!

Bob

Daily Sales Minute from Dreamforce – Day 2!

Dear Leaders,

Another great day at Dreamforce where I was able to pick up some great tips from Social Selling evangelists Jill Rowley and Koka Sexton.  The video below offers up some excellent take-aways you can put to use with your teams right away.

Good (Social) Selling!

Bob

Daily Sales Minute from Dreamforce – Day 1!

Dear Leaders,

It’s nice to be sitting on the other side of the fence for a change here at Dreamforce where I get to listen to some outstanding speakers and soak in new great tips and gems.  Yesterday I had the privilege of attending Aaron Ross’s presentation where he discussed several key points about driving consistent revenue through a repeatable inside selling process.  Aaron and I caught up later in the day and I was able to drill into some of the points he shared in his session.  Here is my interview with Aaron.  Stay tuned for two more updates live from Dreamforce!

Daily Sales Minute from Dreamforce!

Dear Leaders,

Welcome to the  “Daily Sales Minute”… a  video produced live each day at Dreamforce along with our partner Velocify. We will bring you highlights and interviews from a few notable sales leaders around news, announcements, and key take-aways from this incredible event.  Stay tuned for some exciting posts each day!

It’s not your father’s sale anymore…

Dear Leaders,

My letter to you this week has to do with a major paradigm shift in how buyers buy, and sellers sell.  This trend is certainly not new as it has been evolving for years.  However, I believe that inside sales has crossed into a Digital Selling World and there is no looking back.  Where is your organization on this new revolution?

Let’s explore 3 key trends.  My normal short blog will be a little longer this time, so please get a large cup of coffee ready as you sit down to read this :).

#1 – Sales have become Digital

There is no mistake about it…today’s buyers require immediately accessible information and sales interactions on their own terms.  They want the option of a comprehensive and valuable sales engagement without the need for face-to-face interaction. Research indicates 60% of the buying cycle has been completed digitally by decision-makers before they reach out virtually or even in-person to a sales rep.  It also indicates that more and more complex, big ticket sales are completed through a virtual sales exchange. The days of the face-to-face “dog & pony show” are long gone.  Hear what a Sr. VP at IBM has to say about the digital sales phenomenon.

“The digital revolution is changing the way buying decisions are made and commerce is transacted. What individuals are experiencing as consumers is changing what they expect from IBM as an enterprise client. They want us to know them and understand their preferences, and get value from our expertise in new ways and on their own terms…In other words, digital is central – not secondary.”

Bruno Di Leo

Bruno Di Leo, Senior Vice President, IBM Sales & Distribution

Simply put, in many if not most cases, decision-makers prefer engaging virtually when making purchasing decisions. Whether it’s research on the web, a demonstration through screen sharing and/or video, or the use of social, busy buyers want information quick and easy…in the comfort of their office or via their smart phone as they commute.

#2 – Virtual becomes a Primary Sales Channel

In the late 80s and 90s and through the early 2000s, inside sales was deployed predominately in a team model supporting the field sales force.  Today senior sales leaders know what inside sales knew many years ago.  The digital and virtual way of doing business has arrived and is here to stay.  In fact, traditional field salespeople have adopted some of the very same strategies and tactics that inside salespeople have been using for years. This is because buyers are demanding it.  Extensive AA-ISP research in 2013 and 2014 indicated a significant shift from inside sales simply supporting field reps, to carrying a discrete quota and responsibility over a set of accounts. From 2010 to 2014, companies moving inside sales from a teamed support role into a “discrete” quota-carrying model rose from 32% to over 50%.  It is forecasted that this “discrete” model will overtake the time-tested “team selling” model in the next few years.  Research by ZS Associates and Reality Works in the fall of 2014 indicated that 40% of large companies (greater than $1B in annual revenue) in the technology space are specifically shifting headcount from the field to inside sales.  Simply stated, virtual sales is alive and thriving.  Face-to-face is on the decline.  In fact, Inside Sales now has a global association dedicated to advancing their profession in addition to a formal accreditation for both inside sales reps and leaders.

#3 – The Next Technology Boom

Those who earn a living selling virtually know only too well how technology has improved their sales results.  SaaS companies have been launched in recent years to cater specifically to this digital/virtual sales revolution. These cloud-based service providers and their software applications help put an already efficient virtual process on “selling steroids”.  The potential for inside sales to produce revenue continues to grow, due in part to the advent of these tools and technologies. The 2014 study by ZS Associates and Reality Works Group indicates that the mean inside sales quota responsibility is $2.1M for large enterprise companies and just over $1M for SMB…clearly up from only a few years ago.

There are literally hundreds of apps designed specifically to aid virtual selling.  Take ConnectAndSell for example which helps inside-based lead generation specialists connect live to as many as 10-12 decision-makers each hour, as compared to the normal industry standard of 1-2.  InsideSales.com helps virtual reps make 3-5 times the number of dials, connections, and e-mails as compared to traditional methods. Numerous screen sharing companies such as ClearSlide and Glance are on the rise, enabling reps to connect with prospects instantly with the option of pushing out live video, enhancing their digital engagement. Velocify, transforms the traditional CRM into a lead management and sales development engine which improves lead conversion rates.  Firms such as ToutApp give reps real-time feedback on who read their e-mails and when they were read. Noble Systems provides inbound and outbound enterprises with a comprehensive list of services and apps to help improve the overall digital customer experience. Their voice analytics tool automatically recognizes words and speech patterns, helping uncover ripe sales opportunities.   Data analytics has also found its home in this digital selling world. Companies such as InsightSquared, Valgen, OppSource and others provide tools to help organizations harness their data and sell more.  Hoopla, Bunchball and others provide real-time gamification as a way to keep money- and status-motivated players always on the hunt and always engaged.  Rep development has changed too!  Firms such as VorsightBP, FRONTLINE Selling and Factor8 are providing once unavailable deep tactical training on the how-to’s around the new set of virtual selling standards such as enhanced pre-call research, e-mail, social, remote presentations, and more.  As mentioned earlier, the AA-ISP administers the profession’s only online training and accreditation for both front-line virtual reps (the CISP®), and those who lead them (the AISM).  The AISM (Accredited Inside Sales Manager) is the only accreditation program focused solely on inside sales leadership development.  And the list helping virtual/digital sales goes on and on.

It’s not your father’s sale anymore…how buyers buy has changed. The digital sales revolution will continue to adapt to meet the requirements of today’s virtually connected decision-makers.

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