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Survey of More Than 100 Senior Sales Leaders Unveils Underlying Factors behind the Growing Popularity of Inside Sales Strategies
LOS ANGELES, Dec. 11, 2013 /PRNewswire/ -- Velocify, the market-leader in cloud-based intelligent sales automation solutions, today announced the release of a study conducted by Steve W. Martin, an expert on the complex human nature of business-to-business sales, author of the "Heavy Hitter" series and professor at the University of Southern California, entitled "The Truth about the Field Sales to Inside Sales Migration Trend." Underwritten by Velocify, the study confirms a shift from field to inside sales models, as well as identifies market factors prompting the shift and the top benefits.
"It is safe to say that we can expect to see inside sales teams continue to increase in size and number," said Martin. "While there will always be a place for field salespeople, inside sales teams will continue to grow because the economics are often favorable and social and technological transformations are helping to accelerate its acceptance with buyers."
Surveying more than 100 senior-level sales leaders from high technology and business services companies throughout the U.S., and supplementing it with anecdotal information from more than 30 in-depth phone interviews, 46 percent of respondents reported a migration from field to inside sales models within their organization over the last two years. In addition, respondents signified that this may just be the beginning with the number of companies expecting to derive more than 90 percent of their revenues from field-related sales predicted to decrease dramatically across industries by 2015.
Why are so many companies turning to inside sales?
Three primary market drivers are giving momentum to inside sales. First, B2B sellers feel competitive pressures to cut costs, with 60 percent of respondents citing profit margin as a primary factor driving the migration from field to inside sales.
Second, new technology advancements were cited by 54 percent of the respondents. Advancements like video conferencing, social media, demand gen and marketing automation tools, all make it easier for companies to create customer connections without field interactions.
Third, B2B buyers are becoming more accepting of remote selling processes according to 47 percent of respondents. Buyers use the web to research product information, are more comfortable communicating with sellers via email, phone and web conferencing, and in fact often prefer these methods to face-to-face interactions.
What are the benefits of an inside sales model?
This study reveals a changing perception of the strategic role inside sales performs. The change is due in part by the benefits sales leaders believe the inside sales model provides.
Survey respondents cited many benefits of an inside sales model with 83 percent of respondents highlighting that it is easier to onboard new salespeople and share best practices. Scaling faster was cited as a benefit by 79 percent of respondents. The ability to drive greater call activity and selling volume was also a top benefit according to 78 percent of survey respondents. The ability to penetrate small and midmarket accounts was cited by 76 percent of respondents.
Furthermore, field salespeople can be costly, and with 74 percent of organizations reporting that fewer than 69 percent of sales teams hit quota, bottom line-focused businesses are seeing cost effective inside sales models as an attractive alternative.
"This study reveals incredible opportunity for progressive sales leaders to identify the sweet spot for inside sales within their overall selling model," said Nick Hedges, president and CEO at Velocify. "Companies that embrace an inside sales model and capitalize on the opportunity will gain a competitive edge in their marketplace."
The full study is available directly from Velocify's website.
About Steve W. Martin
Steve W. Martin is an expert on the complex human nature of business-to-business sales. His "Heavy Hitter" series of books for senior salespeople has helped over 100,000 salespeople become top revenue producers. Steve is a regular contributor to the Harvard Business Review and teaches at the University of Southern California Marshall Business School MBA Program. You can learn more about Steve at www.stevewmartin.com.
Velocify is a market-leading provider of cloud-based intelligent sales software, designed for high-velocity sales environments. Velocify helps sales teams keep pace with the speed of opportunity and improve conversion rates by driving rapid lead response, increased selling discipline, improved productivity, and actionable selling insights. The company has helped more than 1,500 companies across a variety of industries improve customer acquisition practices and sales performance. Velocify was recently recognized as one of the fastest growing companies in North America by Deloitte and a Best Place to Work by the Los Angeles Business Journal. For more information please visit Velocify.com or follow the company on Twitter @Velocify.
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