Inside Sales: A Growing Power
Apr 10, 2014
Inside sales is a rising power in the healthcare industry. According to recent research conducted, inside sales is growing 300 percent faster than outside sales. With the revolution of inside sales, many organizations are reducing field sales teams and placing greater priority on inside sales. One example is AstraZeneca, who has replaced virtually all of its field sales representatives for Nexium® with a 300-person inside sales team. The team not only provides most doctors’ basic needs for samples and information; they accomplish it at a substantially reduced cost.
Why focus on inside sales?
Although there are multiple factors, the three key reasons fueling the momentum are:
- The constant drive for increased efficiency and lower cost per sale.
- Buyers and customers are increasingly more comfortable with online interactions, such as, through phone and email, and often prefer the immediate, choose-your-own-time of contact or social media interactions over scheduled face-to-face appointments.
- E-detailing, video-detailing, online webinars, etc. can create customer intimacy without field contact.
How you can do it?
If companies want to optimize market coverage and increase productivity and sales volume, you must provide tools tailored to inside sales and continue to educate staff on successful customer engagement or engage a trusted healthcare inside sales / tele-detailing call center partner, like WRB Communications. Four key points to focus on include:
- Communication: Increase know-how across all areas of digital technology.
- Gamification: Be competitive, visual, and fun.
- Predictive analytics: Tools to help pinpoint contacts who are most likely to qualify and close via an inside sales channel.
- Data visualization: Make sure data is meaningful and useful.
What are the benefits?
When appropriately utilized, inside sales / tele-detailing reduces cost-of-sales by 40-90% relative to field sales, while revenues may be maintained or even grown. Benefits include:
- Reduced cost-per-contact, with more contacts per day per sales representative.
- Increased accessibility and quicker response times for customers.
- Greater revenue in accounts that were historically low priorities for field sales representatives.
- Faster and more cost-effective training and coaching when the manager and inside sales representatives work at the same site.
Bob Perkins, the founder of the American Association of Inside Sales Professionals, points out that “customers want immediate, succinct, relevant and experienced interactions at all points of the sales cycle, from prospecting through the close. Traditional face-to-face sales miss the immediate and succinct piece and no longer have the advantage over a virtual exchange. On the other hand, these skills and attributes are exactly what inside sales has proven to do so well over the years and that’s why it is exploding in terms of both job growth and revenue responsibility.”