Research Suggests Going All In with Sales Development
External research, as well as internal reports facilitated by KiteDesk, strongly support the value of sales development. Prospecting and capturing customers, then developing them are keys to powerful growth.
Viewed through the lens of progressively arming your sales organization with the best tools to sell better, we’re still really early on the sales technology adoption curve:
Furthest along the curve, after CRM, is Data– which makes intuitive sense from a lead generation standpoint. But with nearly all surveyed firms using a CRM, it comes as surprise that over half of them don’t even back the CRM investment with Data with which their sales reps can effectively prospect.
It’s a missed opportunity, really. The average incremental sales technology investment for study participants in 2016 is $6,170 / salesperson. With fully-loaded sales development rep (SDR) salaries in the $106,000 — $141,000 range, increased spending in specialized tools (at less than 5% of employee costs!) seems almost insignificant.
Good news– when asked what were the “Top 3” areas of interest in sales acceleration technologies and services in 2016:
• Predictive intelligence / lead scoring
As firms awaken to the benefits of outfitting their staff with an appropriate Sales Tech Stack, there are great correlative studies that support these investments. Put simply, here are even more reasons why your company should be all in with sales development!
Prospecting and Capturing Customers
In an another recent study with 472 sales professionals and managers across 26 industries, Elite Co’s outperformed The Rest by over twice as much when it came to Filling the Pipeline.
What this suggests is that to reach Elite status, Prospecting (inclusive of Data, Phone Dialers, and Predictive), plus Lead Flow Management should become core competencies for your sales organization.
Gather More, But Also Win More
A robust Sales Development program not only should provide more opportunities– keeping the pipeline full– but The Elite companies are also converting a higher percent of opportunities (compared to The Rest).
A 50 percent Proposed Business / Closed Won win rate is a lofty goal, but if you want to reach elite levels, this is the (new) floor. In your prospecting strategy, it is critical to have a strong perspective on the right customers. Develop a visual profile that details the right buyers for each of your solutions. Then, you can target these people in the right ways and reduce wasted time going after inefficient opportunities. The Elite are closing at rates (73% Win Rate) nearly double The Rest (40% Win Rate).
Research actually shows a stronger correlation between developing customers and high growth than other parts of the sales process (examples include negotiation, developing relationships or time management). This data suggests that a deep understanding of your buyer’s problem and how your solution satisfies it is important.
This manifests frequently at the top of the funnel with Sales Development outreach. When your SDR’s (or BDR’s, LDR’s, ADR’s or MDR’s– all titles used fairly interchangeably for Sales Development labeling) can identify and articulate an excellent value proposition that addresses pain points, it is possible to open larger deals. Sales development with target customers is widely proven as more efficient than trying to cast a wide net. There is also a correlation to increased average deal size through focused targeting during prospecting.
The more familiar your reps become with the full scope of buyer pain points, the more effective they can genuinely convey value.
Optimizing Sales Stack Usage
Large organizations have a higher propensity to use customer relationship management than smaller peers. However, data strongly indicates a correlation between high growth and Sales Tech usage.
A sales program backed by the appropriate Sales Tech Stack allows you to access, capture, analyze, and act on broad and deep data on customers. The more data points you have, the greater your ability to generate reports about the traits and behaviors of your most profitable buyers. This analysis helps in targeting the ideal customers with your prospecting and sales development strategies.
KiteDesk FIND + FLOW — All-in-One Sales Development Platform
KiteDesk FIND, a complete solution for prospecting with up-to-date contact and account data, where you can quickly create Lead Lists on-demand offers the targeted way to never run out of leads. Then, with KiteDesk FLOW, your sales team will reach out to the right people at the right time with the right message — all prioritized by our intelligent and auto-adjusting ToDo queue. It’s lead generation at scale, where the hardest part of sales is made more powerful than ever before.
It’s lead generation at scale, where the hardest part of sales is made more powerful than ever before.
Research demonstrates that the secret to growth and becoming part of The Elite in sales studies is “going all in” with sales development–especially the investment made in the right tools, above and beyond CRM. Effective prospecting, filling the pipeline and smart sales development at the front-end of your sales organization are the leverage required to maximize your growth and create more opportunities.
Request a demo to experience KiteDesk’s sales development benefits for yourself at no cost and no risk! Then, get ready to go all in…
Originally published at https://www.kitedesk.com/blog/research-suggests-going-all-in-with-sales-development/