Talk about value, not product... : The solution to widen the sales pipeline?

Sammanfattning: Business-to-business (B2B) organizations are facing challenges related to complex sales cycles and increasing competition, resulting in more value-driven sales processes and a holistic ecosystem for the B2B marketplace. Recent studies have acknowledged the lack of research on inside sales and sales development in B2B organizations. Scholars point at the increasing importance of inside sales due to changes in the environment and increasing customer demands, which has resulted in the development of digital sales processes within companies. In this study, we have examined the early phase of the sales process referred to as customer acquisition, which is an important part for companies to do business and be profitable over time. In customer acquisition, lead generation and lead management are two central phenomena including generating potential customers and managing them in an adequate way. In this study, where we are writing on commission for Tele2 IoT, our aim was to develop recommendations for how they can improve their conversion rate and sales performance by asking; “How can B2B companies work with sales development processes and lead generation to improve their sales performance?” Based on a literature review of previous studies on sales processes, Internet of Things, and content marketing, we developed an exploratory and qualitative research design, where data was collected through twelve semi-structured interviews with respondents from the case company. Our empirical findings present how the development of a separate unit for Sales Development in Tele2 IoT can be a solution for handling the current challenges for lead generation and lead management. A dedicated Sales Development Representative (SDR) can be responsible for the early phase of the sales process before a Sales Manager takes over. This would include responsibility for lead generation, qualification, and follow-up to ensure that the qualified leads are timely managed. We demonstrate a model that conceptualizes how companies in a highly competitive business environment can initiate a dedicated function working with customer acquisition practices, which we refer to as Sales Development. In our model, we emphasize how three different channels for attracting and managing leads must be considered: 1) outbound lead generation, 2) inbound lead generation and 3) marketing automated lead generation, to improve sales performance. Based on these findings, we propose iterative customer acquisition processes where communication, documentation and cooperation are at its core. Finally, we propose a framework with reflective questions for managers and organizations to take into consideration when implementing Sales Development into their business. The study primarily contributes to the scarce research field of inside sales, where we encourage practitioners and academia to apply our model and utilize quantitative data measures to understand how a Sales Development configuration can improve lead generation within different industries.