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
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Ken KroguePresident / Founder
High Velocity Road Tour 2013
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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
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Inside Sales is Remote Sales
or
Professional Sales done Remotely
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World’s Largest Inside Sales Virtual Summit
#salessummit
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The Inside Sales
Revolution
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“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”
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Ironman is a registered trademark of Marvel Studios & Paramount Pictures
Man
+ M
achi
ne
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Man
+ M
achi
ne
Ironman is a registered trademark of Marvel Studios & Paramount Pictures
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Sal
es T
eam
Mod
els
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Sales-by-numbers is the new smart
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Last 3 years
Inside Sales Market
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Sales Revolution
Inside Sales
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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
“
”
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• More Efficient• Buyer Preference• Employee Lifestyle
Inside Sales
Revolution Why?
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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
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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%
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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
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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
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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
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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
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Mar
ketin
gPro
fsJu
ly 2
3, 2
013
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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
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Run salesby the numbers –
Not Just Intuition
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Original Lead
Response Managemen
t Study
200,000+
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Conversion Rates
100.0%
46.9%
24.9%
15.9%
3.9%
New .
Attempting Contact
Contacted / Appt Set
Qualified
Closed
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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
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Optimal Amount & Type of Contacts• 8 Dials• 6 Web visits• 3 Voicemails• 3 Emails• 3 Social Media• 1 Text Reminder• 24 Total
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Companies
AvgResponse Time by Phone
Percent Respondedby Phone or Email
Avg Response Attempts
Avg
39:22
Res
pons
eAud
it T
M
Event
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Companies
AvgResponse Time by Phone
Percent Respondedby Phone or Email
Avg Response Attempts
Avg
1.51
Res
pons
eAud
it T
M
Event
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Res
pons
eAud
it T
M
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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
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Illusory Superiority
Photo: sleightsofmind.com
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25% think they respond in 5 minutes
or lessOnly 5% actually do
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More Illusions
5+ response attempts 24%
0 attempts 42%
---------------------------------------------------• 34% think 5+ attempts 10% do
• 11% think 1 attempt 24% do
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Join The Wave
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Questions?