I'm very excited to announce the launch of our 2012 Inside Sales Metrics Research. This will be our third research project in the metrics & compensation series - where we collect, analyze & share the numbers that drive B2B Inside Sales for tech companies.
Topics: metrics
A few weeks back, I came across this scenario on LinkedIn (slightly anonymized to protect identities).
Topics: sales process, inside sales management, inside sales strategy
Early in my B2B software sales career, I ran into a competitive situation that turned out to be a major learning experience. If you’re a Sales Leader at a company that sells B2B software, you’ll enjoy this.
The situation
I worked for SoftPoint Data Systems, selling software that helped pharmacists improve the prescription fulfillment process. Everywhere I turned, prospects would tell me, “No thanks, I bought a system from Thom Finn.” (Name changed to protect the innocent.) Thom worked at Script Systems, a primary competitor.
I always found it interesting that pharmacists would say
they bought from Thom Finn; not Script Systems.
I later learned it was because Thom showed the pharmacists how to solve their business challenges. As such, they felt they were buying from Thom, a trusted advisor, not Script Systems, an anonymous company. Realizing I couldn’t beat them, I persuaded SoftPoint’s CEO to hire Thom. (Hey, got any better ideas?)
Topics: inside sales management, sales demos
The Angry Birds phenomenon continues to grow. Not content with being the most downloaded app in 2011, the game is headed to Facebook. For those of you unfamiliar, here's the game's trailer. (In short, Angry Birdsplayers control a flock of birds attempting to rescue eggs that have been stolen by a group of evil pigs.)
Sounds crazy, but I can tell you that - it is addicting! So, how does this relate to Sales?
1. Be prepared – focus on your target
To win in Angry Birds, you can't waste birds by just flinging them out there and hoping to knock something down. Instead, you want to isolate a single part of the structure and strategically fire at it until you destroy it. In Sales, it is equally important to understand the structure or sweet spot you want to “attack”. In other words, knowing your Ideal Customer Profile (ICP).
Many times, CEOs & VPs of Sales will tell me, "Our ICP is the Fortune 500." My internal response is to hope they get hit in the head with a flying bird. The F500 is not a sweet spot - it is a huge target that can swallow up your resources without gaining any traction.
Give some thought to the commonality where you've already had sucess. Is there a revenue size or # of employees where your message resonates best? Must other technologies to be in place for you to succeed? What functional areas must you target to launch the sales process?
Before you deploy your team, be sure you have identified your ICP.
2. Launching - hire the right people for the job
Now that you know where to aim, determine the right bird for the job. Since each bird has a different talent, you must deploy the correct one against certain obstacles. For example, launching a big red bird at a straw hut would be overkill; while launching a blue bird at a concrete structure would be like trying to use a feather to knock down a steel-reinforced door.
What skills must your Reps have in order to succeed? Strong time management skills to handle lots of transactions? Great message-tailoring skills to work deals with multiple stakeholders? Great detective skills to profile accounts and find the right contacts?
Topics: sales process, inside sales management, target marketing