- KredX Editorial Team
- 07 Jan 21
- Thought Leadership
Inside sales has recently been twice as effective as it was, given the constant influx of modern technology to help in the sales processes. With the right technology, businesses can reach out to more and more leads, identify the potential prospects, and focus on those that are likely to make a purchase. In light of the same, we spoke to Jason Chongtham, Relationship Manager-Vendor Sales, KredX, about Insides Sales being the backbone of the modern Sales world, and here's what he had to say.
Inside sales is an act of identifying and turning leads into potential clients, remotely. It is a team that stands in the organisation's front line and updates the customers on new offerings and updates of the business through calls, emails, etc. This method of sales is one of the most popular, efficient, and latest techniques, which has been adopted by all major companies in the world. This is owing to the fact that the world is advancing technologically, and with the current epidemic, reaching out to customers or clients remotely has created an ecosystem where it can thrive.
In recent years, this mode of sales has been prevalent, not just as a word-to-mouth basis, but also as a proved theory with various research and studies. "LinkedIn's 2016 Sales Report found that almost 24%of sales professionals are spending more than 10 hours per week, using customer relationship management (CRM) tools. The study also found that 33% of inside sales professionals, using sales intelligence tools, were spending 3–5 hours a week uncovering insights about leads and prospects". It shows that reaching out to more customers has created a funnel for higher conversion ratios. Connecting with more leads can help the team gauge the market better and formulate the products and plans, which are termed as Market Intelligence, further adding to the futuristic growth of the organisation. An inside sales representative needs to understand that he/she has to pitch the product in a compelling manner that the prospect on the other end ist convinced that what is being offered to them is of value to them or their business. It is a skill acquired after making multiple calls and creating several mails to woo the lead into a prospect.
Good communication skill with a sound understanding of the product, and ability to listen and reason with the prospect, regarding the offerings, make certain representatives stand out from the rest in closing deals.
There are specific CRM tools that need to be part of inside sales, which keep the data and records of the leads intact. The tool helps make sense of the data collected to have a reporting and analysis dashboard, helping to understand the step forward. It also makes the process of selling much more robust and quick to yield better results, keeping in mind the metrics used to gather the more quality leads or target audience. Additionally, it helps to keep track of the follow-ups on the prospects, as well as, keep them engaged, so they have a faster turnaround to conversions.
Bottom Line
All in all, it is a social selling skill, which must be acquired over time to gather the pulse of the lead. It is a method, which has been around for a long time, but with the recent technological advancements, it has evolved and established itself as one of the bestselling practices to succeed. Most companies have adopted this to create a greater hold in their market domains, and in the future, it will remain to do so as well.
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