InsideSales.com, a provider of a Saas-based sales force automation platform, has completed a round of funding totaling US$ 4 million. The company says it will put the money toward accelerating growth into enterprise markets and developing predictive analytics capabilities.
The InsideSales.com platform takes what the company calls the “high velocity sales model,” which it says is a data-driven approach to sales. Using cloud-based technology, InsideSales.com seeks to improve productivity, visibility and analytics with a metrics-based “preferred inside sales model.”
This sales model leverages rapid lead response qualification and cold-calling teams paired with experienced closers who conduct sales using the phone and Internet, as opposed to the traditional face-to-face outside sales model that InsideSales.com says is more expensive and less efficient.
Engaging Modern Consumers
InsideSales.com is attempting to tackle what is becoming a widely-recognized challenge for today’s sales professionals -- engaging a much savvier and more connected consumer. Dan Schleifer, EVP of sales enablement for enterprise sales collaboration software provider SAVO Group, recently explained in an interview with CMSWire how he sees Web-based communication technology as holding the potential to revolutionize sales in today’s environment.
Schleifer said by automatically collecting data in real time while a sales rep is making a presentation or pitch, via mobile device, sales enablement tools can eliminate organizational silos and fill the gaps in B2B sales data quickly enough for sales strategies to be altered as soon as problems can be identified. “The clinical moment of truth in any sales process is when the rep is sitting with the customer. Sales enablement allows you to understand that moment of truth.”
While InsideSales.com is geared more toward identifying leads for real-time sales calls than for increasing the personalization of site visits, the underlying strategy of automating a process and improving its effectiveness with real-time data and predictive analytics is the same. InsideSales.com generates and stores quantitative call data linked directly with qualitative lead process and flow information.
Some Days are Better than Others
As an example of how InsideSales.com’ technology can be applied, LeadResponseManagement.org used data from the InsideSales.com system to conduct a study into telephone sales issues such as what day of the week is best to call back a web-generated lead for optimal contact and qualification rates. The study determined Wednesdays and Thursdays are the best days to call for making contact with and qualifying leads (with Tuesdays the worst day for making contact and Fridays the worst day for qualifying).
This type of feedback can be invaluable for companies trying to successfully reach prospective customers who have become adept at both filtering out information and conducting extensive research on products, brands and services.
Hummer Winblad Venture Partners led the funding round, with co-investors including Josh James, founder and CEO of Domo and cofounder and former CEO of Omniture.