Inside Sales is not a hot topic.
It doesn’t get much press outside industry magazines and I’m sure it isn’t something you want to come home and tell your significant other about.
Unless ofcourse, you are a venture capitalist.
Yes, recently there has been an explosion of startups coming up in the space of inside sales. A total of 317 startups have come up in the past 25 years according to VB Profile. The year 2015 alone 40+ new companies had come up.
Why did I call it an exploding landscape? Let’s take a look at some reasons along with data.
Growth of the Internet
As of 2015, a staggering 3.17 billion people had internet access, that makes almost 45% of the world’s population. It has been predicted that the digital universe will grow from 3.2 zettabytes today to approximately 40 zettabytes of data within the next six years (one zettabyte is equal to approximately one billion terabytes).
What impact, if any, does this technology growth have on sales?
Technology is transforming inside sales in ways that would have been unthinkable a few years ago. Today’s cloud technologies, social, big data, and mobile are revamping the sales as we know it. A lot of this has to do with internet accessibility.
Take a look at our tradictional CRMs and the present cloud based CRMs.
Moving from onsite to the cloud made the sales process easy, allowing employees to access the CRM data anywhere at any time. When correctly deployed, a CRM offers a huge advantage, as it allows to get fast and accurate insights on what customers are doing, what they’re seeking, and when they are mostly likely to buy. Armed with up-to-date, intelligent information and the ability to contact customers and prospects while on the go, a sales team becomes more agile, effective, and productive.
Surely an unthinkable task in 1996.
Number of Inside Sales Companies
The number of sales technology companies hav doubled and tripled over recent years, the number of leads marketing is funneling into sales has also increased, at least in business-to-business companies.
In fact, in some cases those companies sit on both sides of the fence, as martech and salestech (and adtech for that matter) continue to coalesce. Inside Sales Box is certainly one such example.
The past three years has seen a significant new injection of investments into salestech.
According to report author Nicolas De Kouchkovsky, a former CMO and current consultant the capital investements include $1.4 billion in the productivity and enablement sector, specifically in content enablement, $652 million in data visualization, and another $618 million in the contracts and e-signature sector.
$9.7 billion in the five areas of Sales Engagement, Productivity & Enablement, Sales Intelligence, Pipeline and Analytics and People.