In recent years, as technology advances and digital communication platforms proliferate, the inside sales model has substantially shifted into focus for companies across multiples sectors, reshaping the face of sales in a relatively short amount of time.
Recent trends indicate inside, or remote, sales are expected to outpace outside, or traditional, sales by 2020 for large and small companies looking to grow, according to an article in Entrepreneur magazine. In fact, inside sales already dominate as the method for selling a number of big-ticket business-to-business items, such as software as a service (SaaS) and platform as a service (PaaS).
Internet communications are becoming both more commonplace and advanced, which gives inside sales representatives more opportunities to reach out to prospective and existing clients online, over the phone, or through other digital means. Companies are recognizing notable success at substantially reduced costs, which is a big indication this trend will continue, according to Entrepreneur.
“Companies can save a lot more by having their sales rep meet their prospects virtually rather than arranging meetings and paying for their travels,” the article states.
With an influx of communication services and increasing bandwidths, companies are communicating their message in multiple ways, depending on the needs and preferences of clients. Sales representatives are able to be available anytime and anywhere through mobile devices and digital sales channels.
“Improvements in supporting tech can provide high-quality prospect data, enabling smarter conversations that help inside sales reps to close more deals,” according to an article from Business Insider.
Additionally, consumers are becoming more comfortable purchasing both products and services online. These advantages collectively contributed to the inside sales market growing 300 percent faster than traditional sales in 2017, according to Business Insider. In the United States, 66 start-ups specializing in inside sales were created from 2005 to 2010. During the following five-year period, from 2010 to 2015, that number doubled, with the expectation these specialized start-ups will continue multiplying.
Another trend that goes hand in hand with the increasing popularity of inside sales is account-based marketing (ABM) solidifying its reputation as an invaluable, personalized strategy that aligns sales and marketing throughout a company’s sales funnel. Citing a study by ITSMA, a leading marketing association, the Entrepreneur reports 87 percent of marketers have found ABM to outperform other marketing investments significantly. Through the advantages offered by ABM, inside sales teams are achieving better results, the article continues.