As I've mentioned in previous blogs, list quality plays an enormous factor in our ability to drive leads to sales and build forecast (Are You Giving Your Inside Sales Reps A Good Quality List?) Ideally the time should be taken to weed out the inaccurate contact info, current customers and the independent consultants or students who download a whitepaper for "educational" purposes. What's the point of putting our inside sales reps at an automatic disadvantage before they even pick up the phone?
We often debate if we would prefer to target the individual that raised their hand or a clean list of high level contacts at your top 200 accounts. My two cents is that we would rather start from scratch with a list of companies and target contacts that have never been touched. The primary reason behind that is that I have complete control over the title and the organizations that I want to talk to. Don't get me wrong, a mixture of scrubbed leads with the low hanging fruit combined with clean target lists is the ideal scenario, with the obvious caveat that I don't have to deal with the time sink of scrubbing off the bunk data.
So let's assume you are working with this scenario. What titles would you typically target? Most of us are trained to call high into every company on every list, right?
Well, I'm not sure if I entirely buy into that on every list you're calling on. With your cold lists it's pretty typical to only have a VP or C-Level contact to call, but if you can, try to find multiple contacts since you're unlikely to get a response the higher you call. Tracking down those director and manager level titles make sense for a couple of reasons- 1) Working multiple angles gets you to an evaluator/decision maker much quicker to gauge interest 2)Most of the time the Director/Manager titles are the people you generally end up getting forwarded to anyway.
A majority of the leads resulting in closed business for our clients began with a conversation with those director level contacts or below. It's pretty rare for us to see inbound lead from a CIO who downloaded white paper....as most of us know he/she tasks others to do the preliminary research before they get involved.
We've struggled with a few of our clients who use lead scoring through their automated marketing platform to rate their leads, with a large percentage of scoring weighted heavily on the quality of the title. Unfortunately there were very few leads that scored high enough because most of the leads were directors, managers and analysts downloading the info. We've also learned (the hard way) that just because a lead receives a high score out of your marketing platform doesn't always mean they're the right person.
Eventually what we recognized with the inbound marketing lists was that it would be best to follow up based on the company vs. the title. Rather than just calling into a VP downloading info, we took the time to also contact the business analysts as well. Generally what we discovered was the analyst actually picked up their phone and more often than not, played an integral role in the decision making process. At the very least they could provide us the intelligence we needed to have a very healthy conversation when we DID get the big boss live.
The point is - don't neglect the little guys. Just because a lead didn't receive a 100% from your fancy marketing automation tool doesn't mean it should be ignored.
Happy Friday!
Well, it’s the “unofficial” last weekend of summer…but not the end to some great blogs from our team.
I found a great blog this week that really mirrors what we try and keep in mind every day here at AG. In Barb Giamanco’s blog titled: The Great Sales Lead Generation Debate. She talks about the constant discussion on Quality vs. Quantity, and the importance of having a healthy balance. It’s a great read as it puts both sides into perspective.
Monday, August 30th
Does your inside sales team have the tools to succeed? – Ilona Jazdowska discusses in her blog the tools she’s found to be a most useful when it comes to performing successfully in inside sales.
“I have had the opportunity to work for a variety of clients. Some coming right out of the gates with little to no name recognition (some with products still in Beta!), companies with cutting edge technology, others part of the Fortune 500. From my experience, I know what I need to be successful. I am going to share with you some of the preliminary homework that you need to do in order to make your time and investment as successful as possible…”
Tuesday, August 31st
Do Your Inside & Outside Sales Communicate Well? – Craig Ferrara offers some great insight into his past work experiences and how communication is key in sales success.
“It seemed so foreign to me to not be allowed to communicate directly with the outside sales reps. at the hotel we would simply call or walk down to the department we needed answers from. Even if it wasn't the most pleasant conversation, we eventually found some common ground which allowed the team to work more seamlessly from that point forward.”
Thursday, September 2nd
5 Questions To Ask Before Sending Out That Sales Proposal– Chris Lang discusses 5 important questions that you should be asking yourself before you send out the sales proposal.
“Sometimes sales reps act like used car salesmen. “What’s it gonna take to get you into this storage solution?” “Look at this encryption right here…it’s just beautiful and I’m willing to give it to you for half the price!” The pitch is feature and not value focused and then a proposal is given to the prospect, often times without even hearing what the prospect’s full set of needs are. Not shockingly, close rates are usually low when the sales process is less complex than that of the ice cream man selling to a toddler. (He always got me with the Choco Taco) Here are a couple of questions to ask, pre-proposal, that will ensure your prospect is ready to move forward...”
That sums it up! We hope Earl doesn’t ruin your weekend! Be safe and we’ll see you Tuesday!
Sometimes sales reps act like used car salesmen. “What’s it gonna take to get you into this storage solution?” “Look at this encryption right here…it’s just beautiful and I’m willing to give it to you for half the price!” The pitch is feature and not value focused and then a proposal is given to the prospect, often times without even hearing what the prospect’s full set of needs are. Not shockingly, close rates are usually low when the sales process is less complex than that of the ice cream man selling to a toddler. (He always got me with the Choco Taco) Here are a couple of questions to ask, pre-proposal, that will ensure your prospect is ready to move forward.
1) Do they believe in your industry? The first question you have to answer is whether or not the prospect buys not into your particular solution, but into the idea of using a solution at all. EG: AG Salesworks is an outsourced demand generation firm. When I am selling to prospect I have to make sure that they are amicable to using an outside firm at all before I can pitch them on why use AG over a competitor. I can spend an hour talking about how we do things differently than (XYZ firm) and make a great case, but it won’t matter if my prospect doesn’t believe in outsourcing to anyone at all.
2) Do they believe you are a better than your competition? This one seems obvious, but you have to make sure that the prospect knows that you are the best solution for their problem. Do not go into a proposal wondering if you are number 2. If you aren’t the best company, how will you have any chance of winning the deal? You will have to drop the price and lower the perceived value of your solution. Margins decrease, you are put into a commodity bucket and you set a bad tone for future sales efforts as you have now shown that you can be beat down on price.
3) Have you addressed ALL the influencers’ concerns? Most sales managers love what we do. We can increase their forecast and keep them working on active sales opportunities. That being said, the CFO might not think we are necessary. The VP Marketing that splits the budget for this thinks that outsourced programs aren’t needed and that sales should work harder, and the demand generation manager has someone that they have known for years that they would love to give the contract to. Make sure you know every single person that will have an influence on the decision and that you have alleviated all concerns that they have. If you leave something to be questioned…it will be.
4) Do you really know what the prospect needs? Have you taken the time to actually listen to what the prospect needs and then created an action plan that addresses those needs? Furthermore, are you confident that your team can provide exactly what the prospect is expecting? If you don’t know what the prospect is looking for and you don’t know that you can provide the right solution; you shouldn’t be trying to solve their problem. Your prospect will see through this and your contract is liable to be trash bound.
5) Are they comfortable with the price? I always like to talk price well before I even get close to a proposal. If you are afraid to talk about the cost of working with you then you are afraid that your solution is not worth the money. If someone can’t afford you based purely on numbers, then why would you continue to pitch to them? On the other hand, if they can afford you, but they think you are too expensive, you have to show them why the cost is what it is. “Yes we are more expensive, but here is why.” Make sure that your prospect knows not only your price, but why your price is what it is. When it comes down to the final 2 and you are more money than the other option; you had better make sure that your prospect knows that you are worth the extra money.
Having a lot of proposals out does not necessarily mean that you will be closing a ton of revenue. If anything, sending out proposals too early will lead to low close rates, inaccurate forecasts one very irate VP Sales. Don’t be afraid to slow down the sales process even if your prospect is asking for a proposal. Telling your prospect that you can’t send them a proposal until you fully understand their needs is not a bad thing. If anything it can be a major trust builder and a differentiator between you and the 5 other sales execs that put proposals out after one meeting. Do not send a proposal when the prospect asks for it, send a proposal when they are ready for it.
Happy Hunting.
My first real job out of college was as a supervisor at the front desk of a business hotel just outside of Boston. It was not the most glamorous position but it did teach me the importance of open communication from department to department, as this particular hotel was quite chaotic.
When I “stepped up” into my first Jr. Inside Sales role I thought things would be different, but within a week I was struck by the lack of communication I had with the sales team. My cube was placed smack dab in the middle of the marketing department with 5 other Jr. Inside Sales reps that were lacking as much direction as I was. We were tasked with following up on web hits, attendees to webinars and any other cold lists of target companies that marketing felt fit the profile of company we should be calling on. Anything that needed to be communicated to sales from the inside sales reps usually went through our sales operations manager or through marketing. Since our salaries were funded through marketing budgets, and we were perceived as "telemarketers", we were only allowed communication with marketing. Another challenge was that the sales team didn't have time to do any hand holding since they were too busy traveling and attempting to close business.
It seemed so foreign to me to not be allowed to communicate directly with the outside sales reps. At the hotel we would simply call or walk down to the department we needed answers from. Even if it wasn't the most pleasant conversation, we eventually found some common ground which allowed the team to work more seamlessly from that point forward.
Over the next few months we were able to pull down meetings with some of the low hanging fruit, but we struggled mightily to navigate through the target accounts. Having no direct access to the outside sales team, we were not provided with the subtle tips and compelling statements that could have increased our chances of uncovering a pain. The marketing material was always very helpful to send when we actually got a prospect live, but if we didn't define the pain we usually never sent the appropriate collateral to get them interested.
After a few quarters of banging ours heads against the wall, we were eventually able to convince management that we needed full access to the outside reps. We aligned 1 inside reps with 3 reps in the field and had regular weekly check-ins to review questions and progress made on our target list. This helped to accomplish a few goals for us:
1) Allowed the inside reps a much better sense of how to navigate through an organization
2) What to actually say when you do get a prospect live
3) The best collateral to be sending out post conversation
4) Outside reps developed more confidence in the opportunities the inside team uncovered
5) Allowed us to be more forward thinking about how to attack the territory quarter after quarter
Running an inside team I've found that I have become relatively adept at playing the role of peacemaker. It could have much to do with trying to corral the wide range of colorful personalities that I worked with in the hotel industry. While I know marketing and sales may not always have the best relationship, they need to put their egos aside and recognize that we are all working together toward a collective goal. Let us put down those egos, find some common ground and make the company a boatload of money working as a unit.
How about in your organization - do your Inside and Outside Sales teams communicate well? Would be interested to hear how others have helped bring these teams together.
So, you have set your next years goals. You know what revenue numbers you need to hit and you have established the campaigns and marketing events that are going to get you there. Now you need to execute and follow up on your leads. Whether you are planning on outsourcing your teleprospecting team or not, put yourself in the shoes of the sales team and make sure that you are providing the components needed for your efforts, and theirs, to be successful. I have had the opportunity to work for a variety of clients. Some coming right out of the gates with little to no name recognition (some with products still in Beta!), companies with cutting edge technology, others part of the Fortune 500. From my experience, I know what I need to be successful. I am going to share with you some of the preliminary homework that you need to do in order to make your time and investment as successful as possible.
- Product Knowledge: I know this seems obvious, and it is. Of course we need to know what you have in order to sell it. Yet keep in mind that [our] goal is not to “sell the product” but to uncover the pains and establish the needs in support of your solution. Therefore, what helps the calling efforts is a clear understanding of which capabilities resonate with whom within the company.
- Competitors/Differentiators – The number one reason that a company is not interested in your solution is because they are using something or someone else. It is extremely important to have as much information on your competitors as there is on your solution and what differentiates you in the market. This knowledge provides us with the ability to speak specific to inefficiencies of your competitors and extract pain points that the prospect may not have been aware of in the past.
- List – Whether you outsource, or have an Inside Sales Team, there is nothing better than being provided a targeted list of contacts that are involved, someway or another with what your product addresses. It becomes extremely time consuming when Inside Sales folks are provided lists with no contact names, email addresses and/or phone numbers. That’s not to say they can’t find that information but it significantly impacts the number of dials that they are able to make.
- Marketing – Sadly, the phrase “can’t judge a book by its cover” does not always apply. It is important to make sure that your first impression counts. Is your website up to date? Do you have case studies? What is your marketing material? Very often an Inside Sales Rep is asked to send additional information and there are times that I am reluctant to send something, because I feel that it demeans the quality of my clients’ product. Prospects want to see comparisons, specifics, and testimonials (i.e. case studies). Have PDFs that speak specific to the top 3 or 5 highlights of your solution, and make sure these are marketed towards the CEO, CIO and Director level contact.
These are a few of the key areas that I find to be most useful when building a successful teleprospecting campaign. When all of these areas are addressed, I can go into my calling efforts with the confidence of knowing what the value proposition is and the value that we can provide. That leaves only the hardest part left, catching the prospect live….but we have tricks for that too :D
How did everyone’s week go? We had some great blogs this week by Laney Pilpel, Craig Ferrara, Peter Gracey and Chris Lang.
As always I would like to point out a particular article I found this week that’s worth noting. Paul Castain wrote a blog titled: The 7.5 Deadly Sins Of Prospecting!. It listed 7 (and a half) things that you should not be doing while prospecting. It’s a great way to see if you are indeed guilty of these “deadly sins” and how to keep from committing them!
Monday August 23rd
Polite Persistence Pays Off For Inside Sales – Laney Pilpel offers some great pointers as to how and why being polite but yet persistent can pay off.
“The theme here boils down to this: Persistence, or what we like to call at AG, “Polite Persistence.” I think that sales people tend to get a bad reputation for being too forward, which is why we train our reps to be persistent in the nicest way possible. We accomplish this in many ways, from our tone and messaging to the amount of times we contact prospects throughout our call plan. There are two examples that really stand out in my mind and exemplify how we really go above and beyond to get the most meaningful conversations and quality opportunities possible without giving up.”
Tuesday August 24th
A Call Plan Can Help To Fix The Gap Between Sales and Marketing – Craig Ferrara touches on an article that he read this past week that discussed how to best deliver “sales ready leads”. He went on to explain how building an effective lead nurturing process was important.
“The last thing we want is that gap between your sales and marketing team to become a place where sales leads go to die. To prevent this from happening I suggest start by putting a call plan in front of your inside sales team. Step one should involve following up on any inquiry (assuming it's been scrubbed in some way) within 48 hours. As we all know, the longer a lead ages it becomes less and less likely the lead will convert to an opportunity for your sales team.”
Wednesday August 25h
0#, The Oldest And Still Most Effective Move An Inside Sales Rep Can Use – Peter Gracey discusses the oldest trick in the book, hitting 0# and how important it can be when getting key pieces of information in your calls.
”By requiring that you speak to someone live on every call you end up casting a wider net within your target organization and most importantly you get yourself a sales ready lead faster than your competition.”
Thursday August 26th
3 Ways To Shorten Sales Cycle – Chris Lang offers some great points on how to shorten the sales cycle.
“I certainly encourage all sales and marketing executives to find new ways to increase their forecast. However, you should not turn your back on the proven methods that work just because they are “old school” and in many cases tougher to do. Roll up your sleeves, do the dirty work and close some deals.”
That covers it! We hope you all have a great weekend! See you Monday!
Sales cycles are longer right now. This is one of the unfortunate realities that a lot; if not all sales executives have to deal with. Blue birds that used to close in a matter of weeks now take months or even multiple quarters with painful negotiations that drag on and on……and on. I consistently have conversations with sales VPs that are looking for easy, quick fix ways to bring their sales cycles down. Though there are some excellent marketing tools out there, I believe in some of the tried and true methods that we often forget about in our pursuit to recreate the wheel.
1) Sell based on value. A good sales person loves the product that they sell. When I talk to them their love of the product often leads to long discussions on features and functionality. Features and functions are pain easers and while everyone wants their jobs to be easier, CFO’s don’t prioritize funds for a solution that will make someone’s day better. People buy based on 3 major motivations: to make money, to save money or to mitigate risk. If your product is seen as a “nice to have”, it can wait to be purchased. You have a much higher chance to close a deal quickly if you are able to sell based on value and show the prospect how this will help their company’s bottom line.
2) Pick up the phone. Cold calling is tough to do. It takes a lot of time, a ton of effort and you have to deal with a lot of rejection. Despite these factors, if done properly, it is the fastest way to build fully qualified sales opportunities. The reason for this, it is discriminatory. If you are trying to shorten your sales cycle you do not want a ton of unqualified leads coming your way. Simply put, you don’t have the time to weed through them and separate the wheat from the chaff. Cold calling allows you to go directly to decision makers, pitch your value, qualify them in or out and advance the sales cycle in one call.
3) Aim high. When you have time you can get away with selling lower in organizations just to get an “in” and then navigate your way up. When time is short you should be selling to as high a level as possible. This of course is much tougher to initiate, but again when time is short you do not have the luxury of nurturing low level contacts in hopes that they will escalate this for you. Getting someone that will be a champion for you is great. Finding the person that signs the check is much better. Even if the person on top passes you down (which often happens) you at least have an endorsement from the right person. If my boss tells me to take a meeting with someone I take it seriously. If that person were to call me without the endorsement from my boss I am more likely to blow them off.
I certainly encourage all sales and marketing executives to find new ways to increase their forecast. However, you should not turn your back on the proven methods that work just because they are “old school” and in many cases tougher to do. Roll up your sleeves, do the dirty work and close some deals.
Happy Hunting!
I just finished reading a great article from Josh Stailey with The Pursuit Group regarding how to best deliver “sales- ready- leads”.
http://www.imakenews.com/thepursuitgroup/e_article001828768.cfm?x=bhcrTyc,b26bn4tC
He touches on the misaligned expectations that exist between marketing and sales (my favorite topic) and how it results in limited attention being paid to those early-stage opps. As a result, most of them run the risk of falling through the cracks. Josh makes some excellent suggestions to prevent this from happening such as leveraging technology, launching an effective inbound marketing program, along with the use of metrics to link marketing leads/programs to revenue growth. But the most important suggestion he made (in my mind anyway) was building an effective lead nurturing process and I wanted to expand a bit on this..
Josh points out that nurture process can last for months, so both marketing and sales need to have an action plan in place to stay on that prospect's radar. At AG it's simply "the call plan". While I’m a firm believer in leveraging every tool at your disposal, we’ve learned the hard way that no matter how creative you get in reaching out to your prospects, nothing beats a good ol' fashioned phone call.
The last thing we want is that gap between your sales and marketing team to become a place where sales leads go to die. To prevent this from happening I suggest start by putting a call plan in front of your inside sales team. Step one should involve following up on any inquiry (assuming it's been scrubbed in some way) within 48 hours. As we all know, the longer a lead ages it becomes less and less likely the lead will convert to an opportunity for your sales team.
Most inside sales teams recognize the importance of continual follow-up with our prospects, but what we learned over the years is that you cannot rely solely on email or solely on the phone. It requires an effective combination of the two to quickly determine if an interest exists now or down the road. The problem with using email alone is that it tends to be less personal and the prospect may feel less inclined or compelled to contact you when they are starting to evaluate. When you rely only on the phone, you'll recognize, as many do in teleprospectng, that people rarely call you back. As a result you might find yourself out of the loop on the details when let's say they are actually getting close to potentially putting out an RFI/RFP.
The theory behind our call plan is that you can't assume that your prospect will ever respond to you. A consistent and deliberate approach combining both phone and email will greatly increase the chances that you will hear back. Hey- it may not be the response you are looking for, and you may get some folks that aren't all that fond of your persistence...but at the very least it will allow you to determine if the prospect is worth pursuing further and how much nurturing may be required.
A big focus for the AG team last week was simple enough: talk to more people to get more quality conversations in, and the leads will come as a result. I think this was the perfect reminder of what the team needed to hear to really increase their productivity, and the resulting conversations and opportunities prove it. Every sales person knows this theory is true, but sometimes all of us need a gentle reminder to stay persistent and not to become lazy. In a note to the team last week, Pete Gracey, the president of AG said, “You have not done your job if you hang up the phone before you get someone live when prospecting into a company.” I found it interesting how the reported conversations doubled last week after he made this comment.
The theme here boils down to this: Persistence, or what we like to call at AG, “Polite Persistence.” I think that sales people tend to get a bad reputation for being too forward, which is why we train our reps to be persistent in the nicest way possible. We accomplish this in many ways, from our tone and messaging to the amount of times we contact prospects throughout our call plan. There are two examples that really stand out in my mind and exemplify how we really go above and beyond to get the most meaningful conversations and quality opportunities possible without giving up.
- When it comes to calling into a company, we are hunters! A lot of companies out there will only talk to C-level contacts, and ignore the rest of the organization. We make it a point to not only reach out to the C level contacts and their assistants to get passed down, but then we contact managers and directors below them until we get the answer we are looking for. We may not always have the information available to us, so we utilize contact databases to find more people to call and never forget to use 0# to talk to as many people as possible. An interesting point here is how to incent inside sales people to have these quality conversations, and to stay persistent on those lazy days - what better way than to incorporate number of conversations into their compensation plans.
- We don’t stop at phone communication - we compliment it with immediate email follow ups. We realize that most of the executives we reach out to barely have enough time in their day to finish their work, let alone take a call from someone they don’t know. Because of this, we send brief, to the point emails to make the best use of their time. If they respond to us that they aren’t interested, we don’t stop prospecting them until we know why. The best example of this was seen through an email exchange between a insides sales rep and a prospect a few days ago. The inside sales rep emailed a prospect and the prospect said “I’m not interested. We already have a specific package for our industry that meets our needs.” Typically, I think someone might give up on this prospect or maybe even the company all together for the time being. Instead, this inside sales rep followed the email up by mentioning that many other companies like his were looking into this type of software and that if it was interesting to him now or in the future, he’d like to have a brief conversation now. The prospect replied by sharing more information about his environment, and referred him to their CFO, and the inside sales rep passed over an opportunity with the CFO the next day.
Sometimes we tend to become lazy about being persistent, especially when we get shut down by prospects when cold calling every day. Always remember that persistence pays off and not to qualify out a company until you know exactly why they aren’t interested.
Happy Friday Everyone!
We had some great topics discussed this week by Nicole Puddester, Craig Ferrara and Chris Lang.
I’d like to highlight a great blog that I found last week by Kendra Lee, President of KLA Group. She offers some great tips on how to Create Opportunities in our tough Economy.
Monday, August 16thth
Organized Tasking for High Outbound Inside Sales Activity – Nicole offers some great tips on how to streamline your daily tasks to get the most efficiency out of your outbound activities.
“I’m sure you are all familiar with Salesforce. If you are not, reps using this tool have this great homepage everyday that has all the tasks for the day pulled up. After completing them, you can go ahead and create a new task for the following days. This is a refreshing way for inside sales reps to keep their day organized. That being said, with the number of outbound activity and quality conversations we have, it is important for our BDRs to further organize their day and keep it as efficient as possible.”
Tuesday August 17th
Do You Know How Many Calls Your Inside Sales Team Should Be Making? – Craig offers a great food for thought, when it comes to knowing and understanding what your inside sales team does, needs to do and ultimately, can do.
“One of the bigger points of contention that existed between each team was the amount of daily activity they felt was required in order to attain the campaign lead goals. The numbers seemed to vary wildly.”
Thursday August 26th
Are Your Prospects Qualified For A Face To Face Sales Meeting? – Chris Lang discusses the importance of qualifying the appointments, and how in the end that’s always the key to closed business.
“I still love to have face to face meetings. But in my experience there is no way that you can form a predictable sales forecast when meeting with unqualified prospects. That stays the same whether they are in the same room as you or on a phone thousands of miles away.”
That’s it for this week! Have a great weekend everyone, see you Monday!