Life Sciences Practical How-To Series: Inside Sales
The argument about the effectiveness of inside sales is settled.
- Will customers respond to the model? Yes.
- Can they sell instruments? Yes.
- Can they be as or more effective than the field. Yes.
In part two of the Alexander Group’s Practical How-to Series, we focus on how leading companies are changing the way they think about and deploy an inside sales team.
Through Alexander Group’s recent community events, research and project work, we have learned that companies have increase inside sales rep headcount 69% for consumables and 49% for service.
Leaders are committed to the motion. They are rapidly scaling sophisticated, data and technology-driven models. Those with the most advanced deployments feature multiple types including account managers, specialists and tandem.
Here is some more detail about these next generation models:
- Account Management: the gap between field and inside sales roles is closing. The skill sets and, in some cases, the pay levels are converging. Companies are focusing their field resources on the customer that truly want or need face to face coverage. They are nurturing a population of talented office-based sellers with the ability to interpret data and engage with customers across digital modalities.
- Specialists: product and workflow focus in some form will always be required. The ability to answer complex scientific questions and differentiate at the benchtop will continue to set leading companies apart. In an effort to scale highly technical expertise, industry players are operating a model where these types of sellers engage with customers via video in lieu of face to face. It’s important to note that these are not application specialists, but quota carrying salespeople. We will talk more about how companies are leveraging their application resources in part five of this series.
- Tandem Models: the proverb”two heads are better than one” has never been truer in the world of sales. Imagine each seller armed with their own Money Penny or Q, guiding them day-to-day with the data and insights needed to win the day. Leading companies are fast-tracking the adoption of sophisticated digital plays by pairing field sellers 1:1 with an office-based partner that helps with territory planning, call prep and follow-up. These are not administrative roles, but those that engage directly with customers–true partners to their field counterpart.
Get a full recap of Part One: Lead Generation and stay tuned for part three where we will share how leading companies are evolving their account management motion to maximize customer lifetime value.
Learn more about inside sales and all of the topics in our practical how-to series. Discover winning go-to-customer practices through videos, articles and interactive virtual roundtables.
Want to learn more? For a deeper dive into the inside sales topic with one of our practice leaders, please contact an Alexander Group Life Sciences and Analytical Instruments program manager.
Want to Network? Join our upcoming virtual roundtable sessions to exchange best practices with other industry leaders.