the inside sales revolution - ken krogue
DESCRIPTION
Presentation given at the High Velocity Sales Tour. For more information, please visit: http://www.insidesales.com Ken Krogue - President & Founder at InsideSales.com http://www.linkedin.com/in/kenkrogue Try InsideSales.com free for 10 days: PowerDialer™ — #1 Power Dialer Software for B2B Sales - http://www.insidesales.com/outbound_power_dialer.phpTRANSCRIPT
Ken KroguePresident / Founder
High Velocity Road Tour 2013
Ken Krogue: InsideSales.com Founder, Forbes Author and #1 Blog
www.InsideSales.com/Insiderwww.KenKrogue.com
Top ranked blog globally on ‘Inside Sales’ Ken Krogue
President and Founder
Inside Sales is Remote Sales
or
Professional Sales done Remotely
World’s Largest Inside Sales Virtual Summit
#salessummit
The Inside Sales
Revolution
“We’ve got to think differently”
“Your goal isn’t to buy players, our goal should be
to buy wins”
“System has worked for years”
“Winning = getting runs”
Ironman is a registered trademark of Marvel Studios & Paramount Pictures
Man
+ M
achi
ne
Man
+ M
achi
ne
Ironman is a registered trademark of Marvel Studios & Paramount Pictures
Sal
es T
eam
Mod
els
Sales-by-numbers is the new smart
Last 3 years
Inside Sales Market
Sales Revolution
Inside Sales
We … proved that [inside sales] could win a high close rate at one-third the cost and in one-third the
time as the traditional selling model.
Mark Benioff – Behind the Cloud
“
”
• More Efficient• Buyer Preference• Employee Lifestyle
Inside Sales
Revolution Why?
Inside Sales Industry Growth 2013
2011 2012 2013 202002468
101214
Outside Sales Inside Sales
Mill
ions
3x Growth
1.3%
3.9%
BLS.gov & 2013 Market Size Study
2008 2009 2010 2011 20122.002.252.502.753.003.253.503.75
Outside Sales Inside Sales
Mill
ions
Original 2009 Market Size Study
15x Growth
Inside Sales Industry Growth 2009
0.5%
7.5%
Outside vs Inside vs Retail Sales
2011 2012 2013 20140%
10%
20%
30%
40%
50%
60%
70%
19.8% 19.1% 18.8% 18.9%20.4% 20.5% 21.0% 21.1%
59.8% 60.4% 60.2% 60.0%
Outside Inside Retail
Inside vs Outside by Industry
Man
ufac
turin
g
Trans
porta
tion
Softw
are
Teleco
mm
unica
tions
Financ
e
Techn
ical S
ervic
es
Man
agem
ent C
onsu
lting
Adver
tising
/ PR
Educa
tion
Health
care
0
100,000
200,000
300,000
400,000
Inside Sales Employees Outside Sales Employees
Inside Sales same as Outside Sales
Inside Sales larger than Outside Sales
US Total Growth of Inside Sales
2011 2012 2013 2014 2015 2016 2017 2018 2019 20200.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Non
-Ret
ail I
nsid
e Sa
les
Reps
(Mill
ions
)
42,400 New Inside Sales Reps Per Year
Trish Bertuzzi says …
Trish BertuzziPresident & Chief StrategistThe Bridge Group
54% increase in demand for lead gen reps20% more rookies in 2013
Biggest issues:1- Leads2- Hiring3- Reaching busy decision makers
Mar
ketin
gPro
fsJu
ly 2
3, 2
013
0% 50% 100%0.0
0.5
1.0
Company Website
EmailTradeshows
Inside Sales
Direct Mail
Print Advertising
Sponsorships / Associa-tions
Search MarketingWebinars
Blogs
Public Relations
Telemarketing
Online Display Ads
Online Video
Executive Events
Google+
Rich Media
Radio
TV Advertising
Outdoor Media
Other Web 2.0 Tools
Virtual, On-Demand Events
Usage
Eff
ec
tiv
en
es
s
Under-used
Little Used Overused
Established Value
Effe
ctiv
e Le
ad
Mod
els
Run salesby the numbers –
Not Just Intuition
Original Lead
Response Managemen
t Study
200,000+
Conversion Rates
100.0%
46.9%
24.9%
15.9%
3.9%
New .
Attempting Contact
Contacted / Appt Set
Qualified
Closed
Conversion Rates by Source
New .
Attempting Contact
Contacted / Appt Set
Qualified
Closed
100.0%
76.4%
10.2%
2.3%
0.2%
Lists
100.0%
50.3%
40.7%
38.1%
7.3%
Referrals
100.0%
51.5%
23.1%
18.7%
1.8%
Search / Web
100.0%
38.4%
10.8%
3.3%
0.6%
Tradeshow
100.0%
40.6%
34.0%
16.8%
0.4%
Paid Leads
100.0%
22.7%
21.9%
16.1%
0.5%
Inbound Leads
New .
Attempting Contact
Contacted / Appt Set
Qualified
Closed
Optimal Amount & Type of Contacts• 8 Dials• 6 Web visits• 3 Voicemails• 3 Emails• 3 Social Media• 1 Text Reminder• 24 Total
Companies
AvgResponse Time by Phone
Percent Respondedby Phone or Email
Avg Response Attempts
Avg
39:22
Res
pons
eAud
it T
M
Event
Companies
AvgResponse Time by Phone
Percent Respondedby Phone or Email
Avg Response Attempts
Avg
1.51
Res
pons
eAud
it T
M
Event
Res
pons
eAud
it T
M
What would your CEO think?
• Only 27% of leads get contacted … ever!• Only 52.5% of leads get attempted … ever!• Sales reps give up after 1.51 attempts …
What is possible?• 92% of leads contacted for 2.5 years• 3.4X more results from the same spend
Illusory Superiority
Photo: sleightsofmind.com
25% think they respond in 5 minutes
or lessOnly 5% actually do
More Illusions
5+ response attempts 24%
0 attempts 42%
---------------------------------------------------• 34% think 5+ attempts 10% do
• 11% think 1 attempt 24% do
Join The Wave
Questions?