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The Anatomy of a B2B Inside Sales Deal

The Anatomy of a B2B Inside Sales Deal

Field-based sales models are out; inside sales are in! Instead of staffing large and expensive teams of sales pros who travel around hawking their products, companies around the world are increasingly adopting remote selling technologies and tactics that drive higher revenues and keep costs low.

So, just pick up a phone, dial your potential customer, and send them the contract after a half hour of talking about how great your product is. Pretty neat, right? Hang on – it’s not that simple. There’s actually a lot more thought and care that goes into ensuring you win a new customer. Interested in learning how a B2B inside sales deal comes together? Read on!

Buyer Targeting and Demand Generation

Take a few minutes to think about your ideal potential customer.

  • What sort of company do they work at, what position do they hold there, and where are they geographically located?
  • What does their typical day-to-day look like?
  • What goals are they trying to reach, what steps are they taking to get there, and what challenges are holding them back?

These questions are important to understanding who exactly you are trying to sell to and how they can benefit from your product – critical information for personalizing your inside sales solution. After you’ve outlined your ideal buyer profile, start working closely with your marketing department to begin identifying leads who will be a good match with your product.

Lead Scoring

Once you’ve built a list of leads, you’ll need to prioritize, or “score” them. Your inside sales solutions team needs to connect with those who are most interested in buying from you first – strike while the iron’s hot! In the meantime, work on slowly developing, or “nurturing,” relationships with prospects who may not be immediately interested.

Prepare for the Call

Preparation is key to building relationships and moving a deal forward. Approximately 58% of prospects don’t find value in their sales meetings! Wasting someone’s time is the quickest way to kill a potential deal. Here are a few ways to ensure you’re ready:

  • Write out your talk tracks
  • Conceptualize answers to questions you’re likely to encounter
  • Work on understanding your product inside and out
  • Make sure your demo is on-point, unique, and engaging.

Go back to your list of highest-scored leads and research the prospects, their businesses, and their industry to understand exactly how your product or service will help them beat their competition. Don’t forget to customize your pitch either – it’s essential to building rapport with your prospect and demonstrating value.

The Meeting

Once you’re prepared, start reaching out to your prospects. Introduce yourself, maintain confidence, establish a good back-and-forth dialogue, and learn more about who you’re selling to. Examples of questions you should be asking include:

  • The prospect’s short and long-term goals
  • Challenges they are facing
  • Their typical buying process
  • Available budget

Remember – an important key to a successful sales call is to listen far more than you speak. Studies indicate that top sales professionals speak less than half the time, with average and low performers talking TOO much, hardly letting their prospect get a word in edgewise. Once you’ve learned as much as you can about the prospect, move on to a product demonstration where you can illustrate exactly how your product works. After you’ve proven your potential value to your prospect’s business, discuss pricing options and next steps.

Follow Up and Close

Just because you had a great meeting by following these steps doesn’t mean the deal is done! The majority of deals require several follow-ups, yet many inside sales pros give up after just one callback. Maintain engagement with your prospect to keep the process moving. After a day or two, send an email with additional marketing collateral and information, along with an invitation for a follow- up meeting where you can then ask if they have any additional questions, need any more information, and (the moment of truth) whether or not they are ready to move forward with you!

The B2B sales landscape has recently undergone a dramatic evolution, which you can read more about in our latest inside sales whitepaper. As a leading global provider of inside sales solutions, ServiceSource helps the world’s top companies expertly navigate this shift to develop new leads, acquire more customers, and generate higher revenues. If you’re interested in how we can do the same for your business, reach out today.

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