​Good-bye 2020, hello 2021. 

As we collectively bid-ado to the year that was, now is the time to start making serious strategic decisions that will have an out-sized impact on 2021. But even if this year is better than the last (it has to be, right --- right?!), there is still some lingering uncertainty for the business community.

One of the largest uncertainties is the possible return of trade shows. An important channel for many businesses, trade shows make up the second largest source of B2B revenue in the US. With that in mind, businesses everywhere are anxiously awaiting the green light to reactivate one of their biggest channels. But how do you plan for an event that may-or-may-not happen? 

We surveyed 103 sales and marketing professionals on how their businesses navigated lead generation in 2020 and how they are thinking about trade shows in 2021. We distilled our findings into a 5-point checklist you can use to frame your strategic planning for the new year. (You can read the full report, The State of Trade Show Lead Generation, on the SalesRoads blog)

Review Your Pipeline 

Trade shows were essentially non-existent last year. So if you're still in business, you likely found other ways to generate leads. If you were previously reliant on trade shows for lead gen, maybe you aren't so reliant anymore. That's a good thing because our data suggests trade shows will have depressed turnout through 2021, which may predicate unpredictable ROI when they do eventually return.

With this in mind, it makes sense to take stock of what is working before you decide how to approach the riskier investment in trade shows. 

Establish Internal Parameters

We asked our respondents when they would feel comfortable attending a trade show and 68.9% said sometime by Q3. This tracks closely with a survey conducted during the same time period by MarketingLand which found 6/10 marketers would attend a trade show by Q3. But the same MarketingLand survey found something else -- 66% of marketers will not attend a tradeshow without a vaccine, even in Q4.

What about you and your team?

Will you feel comfortable at a busy event later in the year? What if the vaccine rollout lags? What if an employee gets sick at an event and brings it back to the office? These are all deeply personal questions without an obvious answer. Establish parameters with your team for when you will-and- won't follow through on a trade show. Continue to update those parameters as the year moves on.

Recalculate What You Need to Generate an ROI

We established 69% of our respondents would attend a trade show by Q3, but that still leaves 31% of respondents who said they won't feel comfortable at a trade show during that time. Furthermore, 9.7% of respondents told us they won't feel comfortable at a trade show until 2022. 

Perhaps more importantly -- only 41% respondents told us they would restore 100% of their trade show budget, even if completely safe to do so. In other words, businesses are not planning to invest as much in trade shows, period. This almost certainly guarantees you can expect fewer leads from the trade shows you do attend. 

Let's use our figure and pretend you see 41% fewer leads from a big event -- what's your game plan to generate an ROI from the other 59% you do get? Is your SDR team ready to maximize those leads? Are you finding ways to schedule meetings before the trade show? What about your marketing automation platform? 

These are the questions you need to ask yourself before even considering a trade show.

Consider All Options

Even if your current lead gen initiates are falling flat, that doesn't mean trade shows are your only option. In fact, our respondents told us they were finding overwhelming success with their investments. Take SDR-based lead gen initiatives; for every respondent who told us their SDR initiative was not successful at all, roughly eight respondents told us they we're at least somewhat successful. This was true for both in-house and outsourced options. Virtual events were also successful at a slightly less impressive 5.5:1 rate. 

Another important consideration is your current channel diversification. We found that respondents who activated three or more new channels were 5X as likely to report positive revenue impacts compared with those who only activated one new channel. Consider a new initiative if you haven't already.

Set a Budget

By now you should have a sense of what options are available and what the risks of those options are. Now comes the hard part, committing to your plan with a budget. 

Avoid the temptation to underfund your investment -- our analysis found companies who reallocated 50% or more of their planned trade show budget to other lead gen activities were 17X as likely to report positive revenue outcomes compared to those who invested 49% or less. 

Put in concert with our previous finding that firms who invested in 3+ channels were 5X more likely to experience positive revenue outcomes compared to those who invested less, there is a compelling argument to consider launching two initiatives and balancing your investment to favor strong performers.  Depending on your current biz dev strategy it may even make sense to remove trade shows from your 2021 planning altogether and focus strictly on maximizing your chances of success by pursuing less-risky alternatives. 

In any event, you'll need to consider your own business conditions and the risks of any choice you make. Whatever direction you move, don't wait so long as to let your competitors get a jump on your planning before we even end Q1. 

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Author Bio: David Kreiger is the president and founder of SalesRoads, a nationally recognized SDR outsourcing and lead generation service provider. 

The way people buy B2B software has changed. The B2B sales process has morphed with B2C. 

We’re spending more time online before making a purchase, with research from Gartner showing that buyers now only spend 17% of their time meeting with potential suppliers. 

At the same time, we’re more skeptical than ever of Google results and five-star reviews. Cold calls go straight to voicemail.  

However, one thing remains: people still trust their peers. 

At the same time, there’s been an explosion of online communities over the last five years, a growth that’s been further accelerated by the pandemic, as people look for that sense of trust and connection that they’ve lost. 

As buyers increasingly turn to communities to guide their purchasing decisions, they represent a huge opportunity for Sales Development professionals. 
Finding the Right CommunitiesAs well as joining communities to directly help you reach your goals, you can also join communities aligned with your prospects’ goals. These can be pure gold, giving you a better understanding of the challenges your prospect faces while fostering a think tank 

There are four main categories of community to consider:

1. Branded (Corporate) Communities - These groups spring up around specific products and services, allowing people to learn more about how the solution works and interact with fellow users. For example, the Salesforce Trailblazer community gets users invested in the brand by enabling them to connect, get certified, and find job opportunities.  
   
2. Free Peer Communities -These are banded together around similar interests and challenges, providing users with advice and support from their peers. Examples include Modern Sales Pros and the Field & Event Marketing FTW Slack group
   
3. Paid Peer Communities - These communities typically involve an ongoing monthly fee. This adds a certain level of status to the group, as well as encouraging greater engagement. They’re also more likely to have an application process. 
   
4. Hybrids - Finally, a community can combine elements of all the above elements, for example with a free basic membership with paid tiers that bring additional benefits. 

As powerful as they can be, communities aren’t magic. 
You have to put in some effort and contribute to the community before you’ll see any results. 

Note: No matter how amazing your product or service is, pitching is not contributing. No one joins a community to be sold to. Direct answers to specific questions about tools and services are welcome, but not unsolicited pitches. 

Instead, become a part of the conversation by asking and answering questions. Share your experiences and help others without expecting anything in return. 
Starting Your Own CommunitySometimes, you might struggle to find an ideal community. 

In that case, why not start your own? After all, chances are that others are looking for the same thing, which gives you a great opportunity to lead that conversation. 

For example, we created the Tenbound Community when we saw that there was a lot of confusion around Sales Development. There was conflicting advice, along with a whole ecosystem of tools for people to choose from. Our goal was to be a partner to those in the Sales Development space and provide them with high-quality content and unbiased support. 

However, creating a community involves more than just setting up a Google Group and hoping for the best. What kind of community will it be? How will you grow it? What will be in the community guidelines? How will those guidelines be enforced? Who will be the trusted admins especially when your group scales? The most important thing you can do is make your community valuable. 

For that reason, encouraging high-quality participation (such as with an application process or paid membership) and regular events that promote contribution and collaboration. 

A highly-recommended reading is Mark Birch’s book Community in a Box.

ConclusionDigital transformation has accelerated the growth of online communities, and they are only going to become more important in the buyers’ journey. Whether you join an existing community or create your own, creating value for others will bring long term benefits to your Sales Development program.

Are you looking for an active Sales Development community? Contact Tenbound today to learn more about how we can help you get more appointments, more pipeline, and more sales. 

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Sales Development is an important function in many companies today, but it can also be confusing. What’s the difference between a lead and a prospect, or a sales funnel and a pipeline? Is your company’s CAC higher than your CLTV and, if so, is that a good or bad thing? 

Whether you’re new to Sales Development or an experienced pro, Sales Development has its own language; a language that’s constantly evolving. To help you out, we’ve put together a glossary of the most terms used in Sales Development and what you need to know about them. 
A
ABM - Account-Based Marketing. A growth strategy, where high-value accounts are treated as a ‘market of one.’ Marketing and sales teams work together to provide selected accounts with a hyper-personalized experience. The SDR role of linking sales and marketing makes them a key component of any successful ABM strategy. 

ACV - Annual Contract Value. The average revenue generated by a contract over a year (excluding any one-off fees, such as setup costs). A metric generally used by SaaS and other subscription-based businesses. 

AE - Account Executive. A member of the sales team who focuses on closing deals. In most cases, SDRs will be tasked with delivering SQLs to an Account Executive for them to nurture and close.

AM - Account Manager. A member of the sales team responsible for managing customer accounts that have already closed.

Automation Software. Technology that carries out repetitive tasks on behalf of the user. SDRs can use it to save time by automating mundane low-touch tasks, allowing them to focus on more valuable high-touch activities. Common use cases include dialers and email automation. 
B
B2B - Business to Business. A company that predominantly sells products/services to other companies. 

B2C - Business to Customer. A company that predominantly sells products/services to individual customers. 

Base Salary. The fixed amount paid to an employee, excluding any bonuses or commission. 

BD - Business Development. Establishing and improving strategic relationships with complementary businesses with the aim of integration and cross-selling.

BDR - Business Development Representative. An alternative title for a Sales Development Representative (SDR). Used by some companies where the role has an increased focus on identifying new markets and making connections with businesses in those markets.

Bonus. An additional payment on top of the employee’s base salary to reward performance and meeting/exceeding targets. 

Buyer Intent. Actions or behaviors by an individual/company that indicate they are ready to purchase a specific product/service. For example, SDRs may look for people who are already searching for a similar solution or engaging with sales material. 

Buyer Persona. A profile that represents your ideal customer, describing the individual and their objectives, pain-points, behaviors, etc. The buyer persona should be based on research and existing customers. SDRs can use this information to tailor their messaging for leads that are a good fit. Different from an ICP, which focuses on the company. 

C
CAC - Customer Acquisition Cost. How much it costs a business on average to acquire a new paying customer, taking into account all costs including overheads, salaries, and any additional spend. 

Cadence. Literal meaning is a flow or pattern of events. For SDRs, your cadence will typically refer to the timing of your touchpoints. 

CAN-SPAM. A US law governing the sending of commercial emails. SDRs should be familiar with the requirements and ensure that any emails they send are compliant. 

CASL. Canada’s regulations regarding commercial emails, which prohibits the sending of electronic messages without prior consent and has additional requirements for the contents of any electronic messages. 

CCPA. Regulations governing the rights of Californians concerning their data. It only applies to certain businesses, but SDRs should check they’re fulfilling their obligations when handling any data that could be potentially linked to a person or household. 

Channels. The different methods and means an SDR can use to communicate with leads and prospects, such as email, calls, social media, etc. 

CLTV - Customer Lifetime Value. The predicted total revenue that a customer will bring in over the period they remain a customer. For a business to be successful, this should be higher than the customer acquisition cost (CAC).

Cold Calling. A phone call made to a prospect without any previous engagement or relationship. 

Cold Emailing. An email sent to a prospect without any previous engagement or relationship. 

Commission. A payment structure based on results, such as the number of SQLs generated. This is usually in addition to an SDR’s base salary.  

Community (Sales Development). In-person and online groups of like-minded people solving specific problems related to Sales Development. 

Conversion. When a prospect takes a desired action, such as responding to an email or agreeing to a meeting. Ultimately, companies will be looking to convert as many prospects into customers as possible. 

CRM - Customer Relationship Management. The management of prospect and customer data, including contact information and interactions, usually handled by purpose-built software. SDRs will generally use a CRM to track their outreach and prospect relationships. 

C-Suite. The top-level executives in a business, such as the Chief Executive Officer (CEO), Chief Financial Officer (CFO), and so on. For high-value sales in the B2B environment, a member of the C-Suite may be the decision-maker or otherwise involved in the sales process.

CTA - Call to Action. A sentence requesting the prospect to take a specific action, such as replying to an email, downloading a brochure, or booking a call. 

Customer Success. A team focused on ensuring the success of existing customers. After the AE closes the deal, the Customer Success team will typically step in to onboard the customer with the aim of increasing customer satisfaction and reducing churn.

D
Demand Generation. A marketing strategy used to promote awareness of a business and its product/service. 

Demographics. The characteristics of a group, typically based on physical data (such as age, nationality, and sex) and socio-economic information (such as income level, employment, and education level). 

Dialer. A piece of software that automates dialing phone numbers. 

Direct Mail. The use of physical mail as a sales channel. 

E
Email Service Provider. Software used to send, automate, and manage email campaigns.

Engagement. Interactions carried out by the prospect with the SDR, measured in terms of action and time (e.g. items downloaded, emails replied to, time spent viewing a presentation).  

Enrichment. Expanding on and improving the quality of existing data. For example, an SDR may use contact enrichment to improve the quality of their contact information, uncovering extra details they can use in their outreach.

G
Gatekeeper. Something (usually a person) who controls access to a person. In Sales Development, this may be a secretary or assistant who answers the phone on behalf of a decision-maker you’re trying to reach. 

GDPR. The European regulations governing the processing and protection of personal data. For SDRs, this will affect how you gather contact details and how you handle prospect information. 
IICP - Ideal Customer Profile. A description of the company that is the best fit for your product/service, including details such as their industry, their size, their turnover, and so on. Different from a Buyer Persona, which focuses on the individual buyer. 

Inbound. Prospects that approach your company and express an interest in your product/services, usually as a result of marketing activities. 

Inside Sales. Sales activities that are carried out from ‘inside’ the office, such as emails and phone calls, rather than face-to-face interactions. 

K
KPI - Key Performance Indicator. The metrics and results used to measure performance and success. For an SDR, a typical KPI might be the number of meetings booked. 

L
LDR - Lead Development Representative. An alternative title for a Sales Development Representative (SDR). Usually assigned to following up on inbound leads. 

Lead. A person or business that has the potential to become a customer and has exhibited some form of interest, such as by downloading a whitepaper or requesting additional information. 

Lead Generation. Activities carried out by sales/marketing intending to create interest in a product/service and attract leads. 

Lead Qualification. Determining if a lead is likely to become a customer, typically based on how they compare to the company’s ICP. 

Lead Scoring. A method of ranking leads, based on agreed criteria, to determine which leads are most likely to become customers. It can then be used to establish priorities for outreach. 

LVR - Lead Velocity Rate. The rate of change of qualified leads, measured monthly.
MMargin. The financial amount gained from a product or service after factoring out selling expenses.

Metrics. The quantifiable results of activities, generally used to determine performance, identify areas for improvement, and predict future results. For example, email outreach metrics would include deliverability, open rate, click-through rate, and reply rate. 

MQL - Marketing Qualified Leads. A lead that has demonstrated interest in your product/service, based on their engagement with marketing. An SDR may be handed MQLs for further qualification. 

MRR - Monthly Recurring Revenue. The amount of revenue a SaaS or other subscription-based business receives each month, excluding any one-off charges. For customers on an annual payment plan, the annual payment will be represented by monthly payments throughout the year. 

O
OKR - Objectives and Key Results. A goal-setting framework businesses use to measure progress by tying objectives to measurable results. 

Optimization. Improving a process or action so that it’s generating the best results. For example, an SDR may modify their call script with the aim of getting more meeting requests.

Outbound. Where an SDR reaches out to potential customers who haven’t already displayed any interest in the business’s product/service. 

Outside Sales. Sales activities carried out ‘outside’ the office, interacting with potential customers face-to-face rather than by email or phone. 

P
Personalization. Tailoring messaging or service so that it is specific to the individual, such as by using their name or addressing their unique challenges.  

Pipeline. In sales, a pipeline is used to visualize and track prospects as they move through the different stages of the sales process. It can also be used to describe the number of prospects (or their monetary value) who are currently going through the sales process.  

Prospect. A potential customer who has been qualified and is now in the sales process.

Prospecting. Reaching out to potential customers and engaging with them, with the objective of creating a sales opportunity. 

Q
Quota. A sales target given to teams or individuals. Performance against quota is often used to evaluate success and determine any bonus/commission. 

R
ROI - Return on Investment. A metric used to determine the profitability of an investment, whether that’s time or money. ROI is calculated by deducting the cost of the investment from the gain of the investment, then dividing by the cost of the investment. For example, the ROI of your new CRM might be [$500 (value of time saved) - $100 (cost of software)] divided by [$100 (cost of software)] = 4, a 400% ROI. 

S
Sales Development. The dedicated practice of creating sales pipeline for your company through proactive outreach to prospective customers and following up on inbound leads created by your marketing efforts. Sales Development focuses on the early stages of the sales process, from researching potential prospects to contacting leads and ultimately generating sales-qualified leads (SQLs). 

Sales Development Manager. A sales manager who oversees the Sales Development function in an organization, usually responsible for building and training the Sales Development team. 

Sales Funnel. A visualization used to track prospects as they move through the sales process, showing how many convert and identifying the drop-off rate at each stage. 

Sales Triggers. Any activity or change of circumstances that create a sales opportunity, such as a new investment, change of management, change of location, and so on. By looking out for sales triggers, SDRs can reach out at the right time and personalize their messaging, increasing the chance of a positive response. 

Scraping. Extracting or ‘harvesting’ large amounts of data from websites, such as pulling lead contact information from social media sites.

SDR - Sales Development Representative. Salespeople who are responsible for carrying out Sales Development, usually sat between marketing and sales. Their job is to carry out early-stage sales tasks, with the objective of maintaining a full pipeline of qualified leads for the sales team. Once a lead has been qualified, they’ll be passed onto an Account Executive.

Segmentation. Breaking down a large market into separate groups that share specific criteria (industry, budget, role, etc.). Proper segmentation allows SDRs to personalize their outreach to each group more effectively. 

Social Selling. The use of social media as a sales channel. SDRs may use social networks to create valuable content, connect with prospects, and develop stronger business relationships. 

SQL - Sales Qualified Lead. A lead that meets the agreed criteria that demonstrate they’re more likely to become a customer. Once the SDR qualifies a lead, they’ll be passed onto an  Account Executives to nurture and close the sale.

T
Templates. A file or document with the standard information already in place that can then be easily customized. SDRs can use templates with proven frameworks for their email outreach and cold calling scripts to speed up the process and improve results. 

Touchpoints. Points of contact/interaction in the sales process, taking place between a salesperson and a lead. For example, an SDR may use a cadence with ten touchpoints, starting with a cold call, then sending an email, and so on. 

U
USP - Unique Selling Point. A statement conveying the unique features that differentiate a company and/or its product from the competition.

V
Value Proposition. A statement conveying the results and benefits customers can enjoy as a result of purchasing from a company.

W
Warm Outreach. Reaching out to a lead, such as by phone or email, when they’re already familiar with the company and there is some level of existing relationship. 

Hopefully, this glossary has given you greater clarity on the many terms used in the Sales Development world and answered any questions you might have had. If there are any other terms you’ve come across that you’d like explained, reach out and let us know; we’ll be happy to add them to the list.

If you’re looking for ways to set up a Sales Development program or improve your existing process, contact us at Tenbound today for a no-obligation exploratory call.

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Overview of what we’re seeing in the Sales Dev world today, how you can play them, and the questions they spark.

Managing Virtual SDR Teams
The traditional, office-based SDR model has been on the way out for years, as remote work tools and bandwidth allowed SDRs to work from anywhere. Growing bandwidth and tools like Slack, Zoom, and various Sales Enablement Platforms have made it possible. We’ve all seen the estimates that the coronavirus accelerated the conversion to remote by 5+ years. Sales Development Leaders are now dealing with an entirely new way of running their SDR teams as the remote era has begun. New challenges have been created by the trend; how do you onboard, train and motivate a group of (usually) early career professionals to do a job that is considered the hardest on the go-to-market team? What tools are best for managing the remote SDR team? Should goal metrics change to account for the new reality? We covered some of these questions in this conversation from the recent Virtual Sales Development Conference.

Outsourced SDR Companies
As Sales pipelines are being eviscerated by lower demand and mass SDR layoffs, there’s also been a lack of backfill. Many companies are turning to outside SDR Outsourcing firms to help them with list building, appointment setting and pipeline generation, at least until SDR headcount is reallocated. As witnessed on the Tenbound Market Map, the number of Outsourced SDR companies has exploded in the past few years, and the demand for Outsourced SDR companies is seemingly endless. Many companies have stepped into this demand, with varying degrees of success. It’s a very opaque market. Selecting the right company to support you remains a huge challenge for Sales Development leaders. Tenbound recently released a survey report on the top companies in this area to help the selection process and visualized the decision making process with a new Framework (coming soon).

Mass SDR Layoffs
As spring 2020 brought the true reality of the coronavirus, many Sales Development teams were either downsized, redeployed or completely eliminated. Suddenly thousands of SDRs were unemployed, and while companies still need pipeline more than ever, now, no one is there to do the prospecting. The upside is there a huge amount of top talent out in in the marketplace right now; it’s a buyers market. In some companies, SDRs may never come back, as companies focus more on their installed base, evolve to a more Product-led model, go fully outsourced or go automated. In some scenarios, Account Executives will be expected to do all their own prospecting. What does the future hold for Sales Development post-pandemic? Is it still a viable model in this new financial reality?

Personalization at Scale
The challenge for Sales Development Leaders remains; how do you research and cull out key points in order to make an impact with prospects, yet at the same time not have your team spend the whole day researching? How do you not get stuck in analysis paralysis? New tools let you 10x your daily workflow and will continue to accelerate this process. McKinsey & Company has called personalization at scale the Holy Grail of marketing, noting that “done right, personalization enhances customers' lives and increases engagement and loyalty by delivering messages that are tuned to and even anticipate what customers really want.” Most Sales Development leaders have landed on a 20% customized approach, with a general message and CTA following, with a set research time allocated to SDRs, ie the “3x3” gather 3 facts in 3 minutes, build in to your messaging, and move on.

Sales Dev Leaders Gain A Seat at the Table
A new generation of Sales Development Leaders is stepping up to lead large and distributed teams, gaining more respect and authority and seat at the Executive Table. A cadre of VP of Sales Development is starting to be noticed at fast moving companies, and are leading big teams. These leaders are strategic, and driving alignment across Marketing, SDR, Sales and beyond. Who knows what the future holds. Where does a VP of Sales Development go later in their career; Marketing? Sales? Our prediction next stop: The Chief Revenue Officer.

SDR Bootcamps
With thousands of college students graduating each year with dubious degrees, few marketable skills and a massive debt load, many see Sales as a great entry point to break into the tech industry. With the crashed economy and pandemic, millions of people are also out of work. Mid-career professionals, Vets, ex-Field Sales Pros are now moving toward Inside Sales. The difficulty is that if they just apply for a SDR job without any experience, it can be really tough to get your foot in the door. Enter the SDR Bootcamp. These are springing up all over in different forms, but the value prop is similar; take a recruit, give them Sales training, give them tech training, and find them a job at a tech company that needs vetted professionals. Some manage the recruiting and training process, and offer ready-made SDRs on demand. Others actually do SDR work for you, producing meetings, and then directly place SDRs on your team.

Communities
Every day you scroll Linkedin, there’s a new Sales Community springing up. They are talking off even more as we all hunker down inside during coronavirus. People really need community support right now, and they need friends (digitally and maybe sometime, IRL) to help them with questions, make connections, and expand their networks. Now instead of having to leave your house and go to Meet-up, you can do it all online without leaving your room. Companies also need to build communities to ensure they have an audience and can control their message through the customer lifecycle. Salesforce.com did this brilliantly with Trailhead. Most communities are free to join, and have varying value, and some are paid and very exclusive. No consultants, founders or other riff-raff. :)

Gurus/Coaches
Similarly to Communities, not a day goes by without another SDR Guru/ Coach springing up and making a big splash on LinkedIn. Social media has allowed someone to leverage their following, start a community and even set up a Patroon group to fund their activities. Could be great work if you can get it. If you’re looking at these as way to help your career or team, ask for the same due diligence that you would if you are buying a software product; provable case studies, real differentiation and realistic outcomes.

Alignment: Marketing + SDR + Sales and The Rise of RevOps.
One of the most exciting developments happening now in the Sales Development world how it's tackling the challenge of Revenue Alignment. How can Sales Development leaders rise above the noise to drive real alignment within their organizations, and to produce better results from Marketing to Revenue? To lead this charge, Sales Development leaders’ tool kits now must include knowledge of Marketing, Sales Development, Sales, Revenue Operations and the political savvy to lead this charge. We see this developing into the true role of a CRO, one who is in charge of the entire process, driving consistent process improvements and interfacing directly with the CEO. This is an amazing opportunity for up-and-coming Sales Development leaders to lead the charge around alignment, and potentially grow their careers to new levels of success.

Data Prioritization
Data is the lifeblood of Sales Development, and having clean data is table stakes for high performance Sales Development teams. While many teams have purchased high-investment solutions for data cleanliness, the problem many teams are tackling is trying to prioritize the data and set it up for their SDR teams. How do you sort Accounts, People and keep the lists prioritized over the long term? Who should be in charge of the process? What are the factors you need to consider when prioritizing your data? While vendors have come and go attempting to solve this issue, it remains a challenge to solve. RevOps has stepped up to tackle this.

What other trends have you seen?


​What did we miss?
Leave a comment!

You don’t need me to tell you that, over the last few months the whole world has gone a little crazy. Thanks to Covid-19, everything’s changed, and that includes Sales Development. 

But while everyone is trying to adapt, what has been the actual impact? How has Sales Development changed over the last three months? What can we expect in the near future? 

We teamed up with RevOps Squared to research how the pandemic has impacted Sales Development teams. Here’s what we found out.
Concerns over Sales Development layoffsWith record unemployment figures, it shouldn’t be surprising that layoffs were one of the biggest concerns. At the time of the research, over 20% of companies surveyed had already let SDRs go. Additionally, over 60% were still concerned about layoffs in the near future. Interestingly, respondents from larger companies were the most likely to be concerned about their future.

These results remind us that we’re still in the early stages when it comes to the economic effects of this pandemic. Even as lockdown restrictions are lifted, we’re going to see more layoffs over the next three to six months, especially any SDRs who are struggling or on a performance plan. 

With the pressure that comes from these concerns, it’s clear that companies need to ensure they’re consistently communicating with their SDR teams to alleviate concerns as much as possible. 

Companies also need to think about how they are planning to fill the pipeline not created by the SDRs they laid off. Where is that pipeline going to come from? What resources, such as outsourced SDR companies, are available and ready to help?

Levels of Sales Development activityA large number of SDRs have reduced their activity as a result of the pandemic. 36.5% have reduced their number of daily dials, 30.8% have reduced their number of daily emails, and 39.5% have reduced their number of Cadences. 

This is largely down to a desire to be respectful. People are still trying to process what’s happening and, as a result, some SDRs have slowed down. However, considering the concern over potential layoffs (see above), it’s essential that SDRs fulfill their role. Executives are now tying activity back to revenue, so smart SDRs are actually increasing their activity. Logically, if there are less opportunities being developed, and the pipeline is reduced, we need to be talking to more people than a few months ago. 

If that seems difficult, it’s time to take another look at your messaging. 75% of SDRs are using new/different messaging. Overnight, your prospect’s pain points have changed, but they still have pain points. They still have problems to solve. They still need your help. Of course, you need to be respectful, but that means adjusting—not reducing—your message. 
Lack of dedicated inbound teamsDespite the differences between inbound and outbound, both in terms of activity and mental attitude, only 32% of companies had a dedicated inbound SDR team. 

Smaller companies just starting out often have a hybrid SDR program to start with, handling both inbound qualification and outbound sales. Traditionally though, those roles are split into separate job functions as soon as possible. However, our results showed no correlation between company size and whether they had a dedicated inbound SDR team. 

This really really poses more of a question; if there is no dedicated inbound team, and AE’s are notorious for not following up on all their leads, who is actually following up?
Management of inbound leadsOn a related note, 27% of companies have changed how they handle inbound leads. In most of those cases, that’s involved rerouting inbound leads from SDRs to AEs. With a lower number of leads coming inbound due to the crisis, and layoffs on the SDR team, we see this continuing. 

This is understandable, as companies try to reduce any perceived friction and unnecessary steps in the process. However, handing leads directly to AEs means they’re handling more unqualified leads. There is also the risk of leads “falling through the cracks” in this case, ie being send directly to AE’s who get overwhelmed and don’t perform the proper amount of follow up. 

SDRs serve an important function, tracking down all the inbound leads worth qualifying and making sure they have enough touches. Cutting out that process is a false economy, and results in more leads not being contacted. Companies need to carefully consider the buyer journey and then ensure that their lead qualification and nurturing process matches up. 
ConclusionThe whole economy has taken a hit, and it’ll be many months before we understand the full effect of the pandemic. However, all is not lost. By going back to basics and making an effort to understand prospects, their industry, their personas, and their pain points, SDRs can still be effective. 

Finally, self-care is critical. We’re all working from home now, and it’s easy to neglect exercise, sleep, diet, and so on. By taking care of the fundamentals, both in sales and in your personal life, you can come out on the other side of this stronger than ever. 

For the full research report, complete with insights and recommendations, download your copy today. ​

Whether they’re looking to supplement their internal teams or build pipeline, many executives are considering outsourcing their Sales Development team. There’s a tremendous amount of demand, and the industry is growing exponentially (something we’ve seen with the latest update of our Market Map). 

However, outsourcing comes with challenges. Anybody with an internet connection and a telephone can set themselves up as a sales prospecting organization, but that doesn't guarantee success. In our recent study, we found that only 32% of respondents would outsource to the same firm again. 

How can you choose the right SDR outsourcing company? How can you get the best results? Here are the top factors that you need to consider.
The locationWhere is the company based? Offshore companies are cheaper (typically half the price), but local providers are generally better suited for outreach to enterprise-level businesses where a high level of English is required. 

For example, if you need personalized emails and calls made to prospects in the US for a high-ticket product/service, then outsourcing to an offshore company could backfire. Trying to ‘save money’ by going for a cheaper option is a false economy if they’re not suitable for your target market. On the other hand, if you have a low-ticket offer and you’re looking to increase your outreach, then offshore will likely be sufficient for your needs.                                                                                                                                                                                                                                                                                                                                              
The peopleIt's common to view an outsourced service like a machine, producing leads on demand. However, that machine is made up of people, people who’ll be directly contacting leads on your behalf. 

When assessing a company, find out how their SDRs are recruited. Will you be able to communicate with and assess them directly? Will you be able to listen to recordings of their calls to hear how they interact with your prospects? The difference between an SDR who’s just dialing it in and one that’s highly motivated will have a huge impact on your results.
CooperationOutsourcing your SDR team isn’t a case of set it and forget it. You can’t just hand the company a list and a few scripts and then walk away. You need a strong relationship, where they have a seat at the table. 

This is essential if you run into problems. They should feel that they can come to you, explain the problem, and come up with suggestions to move forward. If they don’t come forward, they’re either acting as a commodity, or you’re treating them like one. By treating them like the extension of your company that they are and giving them input, you can work together for better results.
A standardized approachThere are three variables you have to manage when prospecting: The marketplace, the message, and the messenger. When you're considering an outsourced SDR function, you have to choose a company that can help control those variables. 

The marketplace, or who you’re reaching out to, is straightforward. So, if the company you choose has a standardized process, with control of the messenger, the only variable you need to solve for is the message. This means you can easily troubleshoot any problems that come up and pinpoint the issues, allowing you to focus exclusively on optimizing the message. 
Agreed KPIs Traditionally, SDR performance is measured on how many meetings are booked. However, not all appointments are created equal. If your outsourced company is using hard-sell techniques on poor-fit prospects, you might get plenty of meetings… they just end up going nowhere. To encourage a more meaningful approach, you might also monitor their meeting-to-opportunity acceptance rate as well as the meeting attendance rate.

It’s unlikely you’ll be offered any kind of guarantee (if you are, that’s a red flag). However, a good outsourcing company will work with you to agree on what is a reasonable result against your KPIs, then work hard to make it happen.

Information sharingEnsure your outsourced firm doesn’t operate in a black box. You want to understand the processes and messaging they are using, and if successful, be able to use those with your own in-house SDR team. You’ll want to develop or validate your SDR playbook with information gleaned from the outsourced team. 
ConclusionSuccessfully outsourcing your SDR program is a challenge. However, by considering their location and their culture (and how those fit in with your ICP), then making sure you’re both working together and agree on how to measure performance, you can give yourself the best chance of success and take advantage of the many benefits of an outsourced SDR team. 

If you’re looking to successfully outsource your Sales Development program, then Tenbound can help you implement the best strategy for your business. Contact us today for a no-obligation exploratory call.

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How many ingenuine, out-of-touch sales messages do you receive on social every week?

Here are direct quotes from just a few of the many in my LinkedIn inbox:

❌ “I definitely think our business could benefit from each other and I'd love to have a chat”

❌ “In case you’re aspiring to take the next step up in your career, so I wanted to send you something that can be a big help”

❌ “Thanks for connecting & your interest in our event” (Wasn’t interest, just connected)

❌ “I would love to hear more about your biz dev, do you do outreach to companies?”

❌ “There might be some opportunities for us to work together. We are an excellent solution for…”

Despite recent clapback from the community against these selfish, unsolicited pitches on social, it’s unfortunately still a very prevalent approach in the B2B world.

Why?

Because social is a different context from direct selling with cold calls or emails. Yet many sellers don’t recognize the difference.

Many personal and professional benefits exist for social users, but it takes the right best practices to create positive experiences for those in the community.

To use social networks correctly, SDRs need to understand how to navigate information, relationships, content, and conversations within this unique digital environment.

Here’s a breakdown of the 4 key elements behind using social as a sales professional.

Market Knowledge

At the core, social is a digital highway of information exchange. LinkedIn profiles, company pages, posts & activities, targeted groups, and more.

Every time a qualified account or prospect interacts on social, they provide invaluable insights on their priorities, personality, goals, interests, and challenges.

An SDR has to balance their level of personalization & preparation for conversations with the amount of time it takes to research that information.

With social, reps can get real-time intelligence on key stakeholders while gaining access to a reservoir of contextual data like previous experience, connections, and new team members.

Audience Development

Social networks like LinkedIn and Facebook are massive communities with an unending flow of content, so they have to manage how audiences grow & optimize how content is distributed.

A one-to-many environment is not the best place for direct sales outreach, but it’s an excellent stage to build personal brand and attract people that care about targeted topics.

In contrast to social selling, audience development is about finding your tribe, sharing value with the community, and building authority within your industry.

Rather than generating sales opportunities through high-volume, direct sales touches, social is about the long game: growing and building trust with a targeted community to improve performance on outbound-focused channels like phone, email, direct mail, etc.

Networking Relationships

Relationships are at the core of sales.

One great, authentic connection with someone in your professional network can generate future learning, referrals, testimonials, partnership collaborations, and even career opportunities.

However, your momentum with new relationships on social media can plummet if you’re sending automated, sales-focused messaging to everyone you find.

Not only does this messaging disrupt your ability to create one-on-one relationships, it can also degrade your reputation within the targeted communities you care about most.

Instead of a cold pitch message to everyone you come across, imagine the momentum you could create by building long-term relationships and creating positive experiences.

Social Influence

At the end of the day, social in the context of sales development is about influence.

SDRs can use market knowledge, audience, and relationships on social to influence the thoughts and decisions of qualified buyers, both inside or outside of their network.

The ability to influence on social is the difference between powerful thought leaders and the mass majority of B2B sellers that aren’t seeing success.

Are you staying up-to-date on topics & changes in your space?

Are you creating value for and connecting with the audience you want to grow?

Are you building memorable, lasting relationships with your network?

When the focus shifts away from “social selling” to social influence, you separate yourself from the overwhelming number of people that fill inboxes every day.

Conclusion

In the grand scheme of a sales development playbook, social is still a relatively new channel.

As more social users push back against direct sales on social, the mass, generic messaging approach will become less effective and more damaging to your future online reputation.

However, a growing number of sales leaders, managers, and reps are providing massive value to the community on social, creating opportunities for their business without the need to pitch.

With the right mindset behind how to leverage social networks within your sales development process, you can unlock new ways to connect with buyers and create opportunities.

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Most of us are aware that the buyer’s journey has changed dramatically in the last few years (and months given the global pandemic). 

This is supported by a CEB (acquired by Gartner) report in 2016 that shared “buyers on average are 57% of the way through their buying journey before even reaching out to a vendor”.

Fast forward a few years since that report, the explosion of Inbound Marketing, and the development of buyer journey optimized content I would argue that it is probably closer to 90%.

That is, buyers have almost all the information they need to make an informed purchasing decision.

In 2007 Chet Homes shared the statistic that only 3% of any market is in the “buying mode” now. This means that 97% of prospects aren’t actively looking to purchase a product or service.

When you acknowledge the above statistics, it is easy to understand why the spray and pray method of prospecting doesn’t work anymore (not that I believe it ever did truly work for 99% of B2B sales teams).

If your prospecting efforts consist of sending templated messages to prospects who just match the “job title” of your past customers, it simply won’t cut it. 

Just because someone matches your buyer persona doesn’t mean they are actually interested in buying what you have to offer. 

You’ll be sending out hundreds of emails and generating only a handful of replies. And that isn’t fun for you or the prospect.

Prospecting is tough. It’s time-consuming, it takes tenacity to stick with it and the will power to continue prospecting each day.

But it doesn’t have to be so hard.

By taking a smarter approach to prospecting and focusing on triggers and highly personalized emails, you’ll be able to reduce the volume of emails you send, whilst increasing the number of conversations you have with engaged prospects.

This isn’t a silver bullet, but it is an efficient method for starting more conversions that begins before you even draft an email.

What is Trigger-Based Lead Sourcing

Lead sourcing (or list building) is the process of building a list of leads without previous marketing activities. 

It includes finding the source of targeted leads and extracting them into a CRM system (or a spreadsheet). Usually, if the source is good enough, finding the names, phone numbers, and addresses of your leads shouldn’t be a problem.

Trigger-based lead souring takes this a step further by only sourcing prospects when an event or sales signal has occurred. It is at this moment you have an opportunity to start a conversation when there is a higher chance that the prospect is “in-market”

Examples of triggers range from obvious to not so obvious, these include:

• New C-suite appointments
• Opening a new office
• Raised a round of funding or M&A activity
• Changes in hiring velocity
• Seismic industry shift or legislation changes
• A prospect engaging with a competitor or industry thought leader

Further reading:

• Hubspot has shared 30 sales triggers here
• SalesHacker’s 7 Sales Triggers to Keep an Eye out For  
• TaskDrives’ 14 Lead Sourcing Playbooks here

Below are two of my favorite trigger-based lead sourcing playbooks and step by step instructions on how to perform them without the need of intent data or expensive software.

Remember, only 3% of leads are ready to buy now and it’s your job to nail the timing. 

And this isn’t about building large static lists of prospects, it is about curating smaller, dynamic lists and refreshing them with new data on an ongoing basis.

Pro tip: LinkedIn remains the best database for finding the most up to date information on prospects’. If you combine these playbooks with LinkedIn, you will be able to identify a number of decision-makers who are ready to make a purchase or at least considering this option.

Playbook 1: The Social ExpansionThe Social Expansion playbook helps you send highly targeted and personalized messages based on your audience’s interactions.

This playbook helps you identify thought leaders or influencers among your target audience and build a list of those who have interacted with them through comments. When they engage with a post, they are actually giving you a signal that they may be interested in buying the product or service you offer.

From there, you can start a conversation on whatever platform you monitored, including LinkedIn, Quora, Slack, Facebook groups, and so on. Always keep in mind that there are a number of places where your prospects spend time online. 

Here’s a step by step guide to the Social Expansion Playbook:

1. Find a handful of influencers in your target audience and look for posts where they’ve received a lot of engagement that is relevant to your audience and solution you offer. (https://share.getcloudapp.com/geurPvwK)
   
2. Save the links to these posts in a spreadsheet (aim for around 30 links)
   
3. Run the Phantombuster LinkedIn Post Commenters and extract all the names
   
4. Dedupe these names in a spreadsheet until you have a clean list of all the people that have engaged with the post
   1. Make sure you keep the name of the influencer and the post topic so you can reference this in your outreach
5. Find the contact details for these names. You could use:
   1. Hunter.io
   2. LeadIQ
   3. Getprospect
6. Now you have a clean list of leads with contact details you’ll need to craft your first outreach email. Ensure that you:
   1. Reference the post you saw them comment on (even in the subject line)
   2. Connect the dots between the comment and the problem you solve
   3. Ask them if they are experiencing the challenge or problem mentioned above
   4. See if they are interested in learning how your solution helps overcome their challenge.
      1. Don’t pitch your product here, your goal is to find out if they have a need at this stage
7. Ensure that you personalize your follow up emails based on their challenges and objectives
8. Repeat. Each week or month follow the same process for new posts and different influencers within your target audience. You can outsource the data enrichment research to a VA or a company like TaskDrive.

Bonus:
Take a screenshot of their activity on LinkedIn and include that in the email - this will take more time, but worth it if your LTV is higher.
https://share.getcloudapp.com/5zuJOZr8

Playbook 2: The In MarketWith the In Market Playbook, you can identify prospects who have expressed an interest in a competitor or non-competing, complementary solution. They will most likely be interested in your product as well.

When your prospects upvote a certain product, you can start the conversation about your own service or product that is relevant to their interests.

Here’s a step by step guide to the In Market Playbook:

• Visit Product Hunt and search for competing or complementary products to yours (in this example we are going to target remote workers/people interested in remote work) https://share.getcloudapp.com/8LuwYB6Q
• Review the products and check the comments to make sure these are the right audience. If they are, save the link to the product in a spreadsheet.
• Run the Product Hunt Upvoter Extractor and extract all the people who have upvoted these products
• Add these leads and dedupe these names in a spreadsheet until you have a clean list of all the people that have engaged with the post. A couple of things to keep in mind:
  • Some leads on this list may be friends or supporters of the makers, so they may not be an ideal customer for you (you can overcome this in your messaging by not being assumptive)
  • If the product launched a number of years ago, you will need to make the decision whether you want to contact these upvoters. I try and stick to newer product launches
  • Make sure you keep the name of the product so you can reference this in your outreach
• With your clean list, run it back through Phantombuster using the Product Hunt Profile Scraper
• Now you have additional information on each profile you can find the contact details for these names. You could use:
  • Hunter.io
  • LeadIQ
  • Getprospect
• Now you have a clean list of leads with contact details you’ll need to craft your first outreach email. Ensure that you:
  • Reference the product they upvoted (even in the subject line)
  • Connect the dots between the product and the problem you solve
  • Ask them if they are experiencing the challenge or problem mentioned above
  • See if they are interested in learning how your solution helps overcome their challenge.
    1. Don’t pitch your product here, your goal is to find out if they have a need at this stage
• Ensure that you personalize your follow up emails based on their challenges, objectives and the benefits of your solution
• Repeat. Each week or month follow the same process for new posts and different influencers within your target audience. You can outsource the data enrichment research to a VA or a company like TaskDrive.

Note:
Whilst you can automate these steps, I always recommend having a human check over the email addresses, formatting of the data, and any additional data points you intend on using in your outreach.

These are just two examples of using trigger-based events or signals to initiate your outbound sequences. 

Use these as a foundation and build your own playbooks that work with your specific audience and your tone of voice.
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The days of spray and pray are over, you know this and so do your prospects. Spend more time personalizing your emails and making them relevant to your prospect and you’ll be booking more meetings without burning through large volumes of leads from a list.

About Mark Colgan
Mark is the Chief Revenue Officer at TaskDrive. In his role, he leads the direction of a 100+ person, remote team by aligning Sales, Marketing, Customer Success, and Product – and he loves it.
His brain’s default mode is ‘Revenue Generation’ and his personal mantra is Give without expecting anything in return.

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