Summer Training Report

On

“Strategies to Accelerate Inside Sales of MAGIC

BILLION (a unit of TGM Services Private Limited)”

Submitted in partial fulfilment of the requirements

for the award of the degree of

Bachelor of Business Administration [Banking & Insurance]

To
Guru Gobind Singh Indraprastha University, Delhi

Submitted by:
Name - Vaibhav Goel
Class & Shift - BBA (B&I), 1st Shift
Enrollment No. - 04314901820

Batch: 2020-2023
DEPARTMENT OF BUSINESS ADMINISTRATION
Maharaja Surajmal Institute
Recognized by UGC u/s 2(f), NAAC Accredited “A” Grade
Affiliated to Guru Gobind Singh Indraprastha University, Delhi
C-4, Janakpuri, New Delhi-110058
 CERTIFICATE FROM STUDENT

I, Mr. Vaibhav Goel, Roll No. 04314901820 certify that the Summer Training
Report (Paper Code: 313) entitled “STRATEGIES TO ACCELERATE
INSIDE SALES OF MAGIC BILLION” is done by me and it is an authentic
work carried out by me. The matter embodied in this has not been submitted
earlier for the award of any degree or diploma to the best of my knowledge and
belief.

Signature of the Student

CERTIFICATE FROM COMPANY
 ACKNOWLEDGEMENT

It is not possible to prepare a project report without the assistance &

encouragement of other people. This one is certainly no exception. On the very
outset of this report, I would like to extend my sincere & heartfelt obligation
towards all the personages who have helped me in this project. Without their
active guidance, help, cooperation & encouragement, I would not have made
headway in the project.

I gratefully acknowledge and am sincerely thankful to my guide of the project,

for guiding me with attention and care. She has provided me with valuable
insights during the entire project work and her co-operation at every step. In
addition to this, she has taken pain to go through the project and make necessary
corrections as and when needed. I shall remain grateful to “Dr. SEEMA
SHOKEEN” for giving me the opportunity to conduct the study. I also express
my deep gratitude to all who have contributed for the successful completion of
this project

The internship opportunity I had with Magic Billion was a great chance for learning
and professional development. Therefore, I consider myself as a very lucky
individual as I was provided with an opportunity to be a part of it. I am also grateful
for having a chance to meet so many wonderful people and professionals who led
me though this internship period.
I am grateful to the college administration for providing me with such a
significant chance. I guarantee that this project was created entirely by me and is
not a forgery. Finally, I’d like to express my gratitude to my parents and friends
for their invaluable assistance, and I am deeply grateful to everyone who has
contributed to the successful completion of this project.

VAIBHAV GOEL
BBA (B&I), 5TH SEMESTER
04314901820
 TABLE OF CONTENT

CHAPTER CONTENT PAGE NO.

Introduction

• Objectives of the study

• Literature Review
1 1-9
• Research Methodology

• Limitations of the study

2 Profile of the Organisation 11-20

3 Conceptual Framework 22-29

Analysis and Interpretation of
4 31-35
Data
Conclusion and
5 37-39
Recommendations

Bibliography 40
 CHAPTER 1:
INTRODUCTION
 INSIDE SALES
Inside sales refers to the sale of products or services by personnel who reach customers through
phone, email, or the internet. Other ways to define inside sales are "remote sales" or "virtual
sales." It is called "inside" because these sales reps remain indoors, often at a call centre or
company office. Inside sales may or may not be outsourced to a third-party vendor.

Inside sales can be contrasted with outside sales, where people physically go out and meet
potential customers.

Key Takeaways
• An Inside Sale is the sale of products or services made by personnel who reach customers
by phone or online.
• Outside sales would instead rely on in-person meetings and physical interaction.
• Inside and outside sales may be paired for greater efficiency, where they assist each other
in tasks, such as lead generation, to increase sales.
• Purchasing goods and services online or by phone is increasingly popular among
consumers.

Understanding Inside Sales

Unlike outside sales personnel, inside salespeople traditionally do not travel. Despite this, they
are still proactive about contacting potential customers and may engage in cold calling. However,
a company may also designate incoming calls from prospective customers as inside sales. In
addition, a company may outsource its inside sales duties to a third party instead of conducting
sales in-house.

The advent of the telephone and its use as a sales tool gave birth to the distinction between inside
and outside sales. The term "inside sales" was created in the 1980s to
differentiate telemarketing or telesales from high ticket phone sales common with business-to-
business (B2B) and business-to-consumer (B2C) sales practices.

Unlike telemarketers who read from scripts, inside sales reps are highly trained, creative people,
who determine a sales strategy for selling products and services to customers. By the late 1990s
or early 2000s, the term "inside sales" was being used to mark a difference between inside and
outside sales.

Sometimes inside and outside sales personnel and practices work together for greater efficiency.
For example, an inside sales individual within a department may handle the legwork of creating
and organizing sales appointments for outside sales personnel, otherwise known as lead
generation. In some cases, inside sales personnel may be used to upsell incumbent customers by
adding ancillary products or services to their order.

1
Advantages of Inside Sales
Purchasing goods and services online or by phone is popular among consumers, looking for ways
to simplify their lives. It even has its own industry association, the American Association of
Inside Sales Professionals (AA-ISP).

Meanwhile, the ways most inside and outside salespeople operate are converging.
Increasingly, outside salespeople are making more sales remotely and inside salespeople
are occasionally going out in the field. This convergence is aided by the adoption of new sales-
facilitating technologies, as well as changing customer buying habits and attitudes about how
products and services are sold. This has led to a new moniker for inside sales: "sales in the
cloud."

The Role of the Inside Sales Representative

Insider sales reps often earn a modest base salary followed by sales commissions and
performance bonuses. Because inside sales will take place online over the phone, representatives
may want experience in telemarketing or customer support and develop a pleasant demeanour
when calling strangers. One perk of inside sales is that you can often do the job remotely or from
home.

In 2021, according to PayScale.com, the median base salary for an inside sales representative is
about $45,000 with 10% receiving a maximum salary of $66,000. However, salary differences
can vary greatly among companies. For example, Oracle Corp. pays its inside sales reps an
average salary of $50,565 while State Farm Insurance Company offers its sales reps an average
salary of $29,661, according to PayScale's data.

The Upshot of Inside Sales

As sales reps are required to handle an ever-increasing workload in a shorter amount of time, the
ability to leverage efficiency-enhancing innovations such as CRM databases presents a clear
advantage.

The Harvard Business Review reports that when utilized effectively, inside sales can shave 40-
90% off the cost of sales while maintaining or even increasing revenue.

But these outcomes require a certain level of investment in inside sales skills; as well as in the
right software and ongoing training. It also means organizations must understand and exploit the
role of their inside sales team at the intersection between sales and marketing and, where
necessary, align these departments effectively.

If you’re prepared to take the necessary measures, you’ll reap the rewards: more contacts for the
same cost, faster response times for customers, better scalability, and more. The benefits are vast

2
- and the number of online B2B customers is only continuing to grow. While there’s no doubt
that outside sales still fulfil a necessary function, the time for relying solely on field reps is very
much in the past.

3
 OBJECTIVES OF THE STUDY

The intent of Inside Sales is to use technology to establish and strengthen relationships with
prospects, leads, and customers. Sales objectives are used by management to supplement the
vision and goals they have set for the company and sales department. The sales objectives
outline the specific, measurable actions each employee must take to achieve the overall goal.
Education will be the most effective when theory and practice blends. Theoretical knowledge
gets its perfection with practical application. And the report is designed to bridge the gap
between the theoretical knowledge and real application. The prime reason of this study is to
become familiar with the practical business world and to attain practical knowledge.

• To get an empirical view of MAGIC BILLION (a unit of TGM Services Private

Limited)

• To study the effectiveness of Inside Sales in the MAGIC BILLION (a unit of TGM
Services Private Limited)

• To study the challenges faced while working in Inside Sales profile.

• To study the customers’ reaction regarding Products offered by Magic Billion.

• Monitor Customers in the CRM to identify cross-sell and upsell opportunities.

4
 LITERATURE REVIEW

INTRODUCTION

The purpose of this thesis is to get a better understanding of what impact Inside Sales has for
the sales figures and success of a company. This case study was done basing from the company
Hejco, in which the author of this thesis has worked for since 9/2016, first as an Inside Sales
person and then as a Sales Representative. Hejco was founded in 1954 in Borås, Sweden. The
company manufactures work clothes for healthcare, cleaning, hotels, restaurants, catering and
to other services. Hejco’s main market is in the Nordics (Sweden, Finland and Denmark).
Hejco’s turnover is approximately €10 million and it employs about 30 employees. This study
will focus on the Finnish market, environment and how Inside Sales was implemented there in
the first place and how it succeeded in it. What is Inside Sales? In a nutshell, the basic definition
of inside sales is remote sales (Ken Krogue, Forbes 2013). This is the term simplified,
meaning that the usual/classical face-to-face “outside sales” is not that needed anymore, but
the sales can be acquired through phone calls and emails from your office or home. Inside Sales
had not been used before 2016 in Hejco and was a plan that was thought to be good to be
implemented in. The plan came up from research that was done by an outsourced company for
Hejco. The research was done on the base of Finnish, Swedish and Danish markets. The results
of the research and multiple interviews showed, that small companies (1-50 employees) did
not need a personal sales person, as often as larger companies, and were more likely to rely on
ordering via phone, email or web shop. This was, because their perception of purchasing work
clothes was too time consuming and not so important. On the contrary, larger companies
usually (50+ employees) use more time, money and effort for the work clothes purchasing.
After this finding, it was thought that Inside Sales needs to be implemented for Hejco to resolve
the issue of making life simple for the smaller companies and customers who might not need a
contact person. This leads to the purpose of this thesis, to answer the question of can companies
grow their business with an Inside Sales strategy and implementation.

The purpose of this literature review is to understand and find what theories, concepts and texts
other people have written from this topic and everything that relates to it. As this thesis covers
Inside Sales, it is important to know the relevance of marketing in business. Marketing and

5
sales used to be more separated than it has been for the past decades. Now marketing and sales
go together. You basically cannot have the one without the other. But what is marketing, and
why is it so connected to sales? Marketing’s basic function is to find the needs and wants of
the customer and to satisfy them with a profit. Marketing and sales support each other in the
sense that marketing provides potential customers and the information about them and then the
sales team does the actual sales part from where the profits come from. However, this has
changed and will change more in the future to the point where marketing is even more in charge
of making sales with different tools such as CRM, which will be discussed later in this literature
review. But for now, it is important to understand the importance and support marketing gives
to sales. This is, as discussed earlier, to find the potential customers and the needs and wants
these customers to have and then with the right content and methods to satisfy them with the
help of sales and make that in to profit for the company. If a company does not have marketing,
there is no way for it to be successful. However, smaller companies might not have a marketing
team per se, but perhaps just one person, who oversees it. Marketing does the research of whom
should be targeted and with which way and then to report these data to the sales team and they
can implement this information to make sales. (Kotler & Armstrong 2008, 6-7, Macmillian
2007, 185-187) The marketing mix is something a company uses to get a desired response from
the target market. It is done by integrating different tactical marketing tools together and “…it
consists of everything the firm can do to influence the demand for its product” (Kotler &
Armstrong 2008) The marketing mix builds up from four different variables; 4 product, price,
place and promotion. This helps the also in the integration of sales, because with marketing
mix, different departments in the organisation need to work together.

6
 RESEARCH METHODOLOGY
A research methodology is a set of specific techniques for collecting and analyzing data in
order to uncover new information. Research methodology provides a strategy by which the
researcher can plot out a systemic process to understand a phenomenon. When trying to
understand a problem or phenomenon, different methods need to be used depending on the data
available as well as how relevant available data may be. If there is limited data about a topic, a
researcher may need to use different research methods to ensure rigor.
Research methodology is a systematic way to solve the research problem. It may be understood
as science of studying how research is done scientifically. In this we study the various steps
that are generally adopted by a researcher in studying his research problem along with logic
behind them. Sources included direct observation, face-to-face discussion with employees of
Sales department of Magic Billion & overall practical experience of last two months.

RESEARCH DESIGN: Research Design is simply the framework or plan for a study, used as
a guide in collecting and analysing data. There are three types of Research Design: -

EXPLORATORY RESEARCH DESIGN: The major emphasis in exploratory Research

design is on discovery of ideas and insights.

DESCRIPTIVE RESEARCH DESIGN: A Descriptive Research Design Study is typically

concerned with determining the frequency with which something occurs or the relationship
between two variables.

CAUSAL RESEARCH DESIGN: A Causal Research Design is concerned with

determining cause and effect relationship.

The research design used for this study is of the descriptive type. Descriptive research studies
are those studies which are concerned with describing the characteristics of a particular
individual or a group.

DATA COLLECTION: the data for this study has been collected from both primary sources
as well as secondary sources:

• PRIMARY SOURCES: For the completion of this report, the primary sources of data
are: -

o Discussion with the organization’s Vice president of Sales Department.

o Group discussions with Sales staff.
o Unstructured interviews of executives.
o Questionnaires

7
 • SECONDARY SOURCES: For this internship report, the secondary data are collected
from the below sources: -

o Company Websites
o Annual report
o Official records
o Internet and other websites

SAMPLE DESIGN:

a) Population: 40-70 Employees of Magic Billion

b) Sample size: 40-50 Employees

c) Instrument: Sample survey

d) Tools: Questionnaire & Active Observation

8
 LIMITATIONS OF THE STUDY
It is not possible to prepare a report on a topic without any limitations. So, regarding this report,
the limitations are: -

o Duration of the program was two months only which seemed to be not enough for the
details study.

o Due to policy restrictions many useful data was not available.

o Limitations of information led to formation of some assumptions.

9
 CHAPTER 2:
PROFILE OF THE
ORGANISATION

10
 MAGIC BILLION
Magic Billion supports Global Employers finding high-quality Indian talent. We are sector
agnostic - work across all industries and job roles. We only focus on skilled and semi-skilled
talent, and also provide training to skill Indian candidates to match global standards. Magic
Billion also provides visa and immigration support - and is a one-stop solution for both global
employers and Indian candidates. We are recognized by the Indian Government and were
founded in January 2018 by Basab and Aditi Banerjee

Magic Billion- a global talent management company – with the objective of supporting global
businesses with their talent needs by providing targeted and skilled talent from India (across
the spectrum from blue to white collar jobs), thus creating a social impact across families who
see exponentially enhanced incomes.
Currently operating in 10 countries, sent 1800 people abroad – 15 active international accounts.
To mainstream the demand supply gap of skilled workers from India to overseas market,
the organization’s goals are as follows:

1. Collaborate to understand your unique manpower needs We recognise

that every client has very specific needs, driven by their business. Thus,
we will work closely with you to achieve a common understanding of the
type and number of manpower requirements including knowledge, skill
and attitude components.

2. Design focussed mobilisation, skilling and certification Once we know

your needs, we detail out job roles and connect with high quality Indian
training partners to design a program which would produce talent
tailored to your requirement. We encourage client iterations during
various stages of this process, including site visits.

3. Dispatch workforce and provide post placement support We

understand there may be teething issues when Indian workers travel
overseas and get inducted in your workplace. We will handhold and
continuously monitor the workers to ensure efficiency optimisation. We
also facilitate worker travel and documentation at the Indian end.

11
Website https://www.magicbillion.in/
Industries International Recruiters
Company size 40 -70 employees
Headquarters Noida, Uttar Pradesh
Type Management Consultant Group
Founded 2018
Specialties To mainstream the demand supply gap of skilled
workers from India to overseas markets

Logo of Magic Billion:

Organisation Structure of Inside Sales of Magic Billion

For the inside sales process to work without a glitch, there are some essential components. This
includes:

• A smart inside sales team

• A good sales calling tool

12
 • An intelligent CRM tools
• Integrated analytics tool

Much like following a recipe, the above list can be considered as your ingredients that you need
to prepare before you start your actual cooking. You have your components ready, now let’s
start cooking!

1. Lead Capture

For your inside sales team to work and show results, they need to first have leads to reach out
to. Previously, tele calling teams used to reach out to random people and try to sell their
products. Not only is this counterproductive, but it can also irritate your audience and have
them blacklisting you.

Which is why the first step in this process is to identify your target audience and where this
target audience is present. Then, you can define your lead sources accordingly and start running
campaigns for them. Your CRM tool will be a huge help in capturing your leads that come
from these different sources. It will also curate all your leads according to the sources so that
it is easy for you to identify your best lead source.

13
2. Lead Distribution

I would say this is probably the most important step in the whole process. I have heard of
businesses where all the leads land in an excel sheet. The sheet is open to access to all the sales
folks and they can pick whichever one they want and start working on it. This is just a recipe
for disaster. Humans, given a choice, will pick the best of the lot, always.

Which is why, an automated system that would distribute the leads uniformly based on present
criteria, will make your system fairer and more transparent.

3. Lead Qualification

It does not stop with just distributing leads. Your inside sales team needs to also know how to
qualify and prioritize leads. Not all the leads that make contact with your business will buy
from you. Some may just be curious, or some are just random leads that came in by mistake.
Your inside salesperson cannot be calling all of them and wasting their time when they can be
chasing after more important leads.

Have a tool, that will help them to know at a glance which leads are more likely to convert.
This could be done by assigning scores to them based on their activities, requirements or even
demography.

4. Calling

This is where your tele-calling tool comes into the picture. They should be able to make calls
to the list of leads assigned to them easily. But more importantly, it is necessary that these calls
are being tracked in your CRM tool so that you know what is happening with your leads.

By keeping a track of when the calls are being made the sales manager will have a track on
how efficient the sales team is. Some CRMs even go a step further to record the conversations
that is happening. This is helpful for both the manager as well as the salesman. The manager
can review the inside sales guy’s pitch and modify and refine it, if necessary. Similarly, the
salesman can listen to the previous conversation to do a quick recap before contacting the lead
again.

14
5. Follow-up

What a blissful world it will be when we call the lead and they agree to purchase immediately.
But alas, real life isn’t so simple! Did you know that 50% of sales happen after the 5th follow-
up? Which is why you should follow-up diligently with your sales lead until they convert. But
that does not mean badger the poor guy until he buys. But even a simple phone call asking
them how they’ve been can tip the scales in your favour.

Use your CRM tool to set up automated reminders for your follow-ups, so that you don’t forget.
Or if emails are your mode of communication, then set up follow-up sequences for your leads
over emails. This should be doable with a simple automation workflow on your CRM.

6. Deal Closure

This is the icing on the cake, the goal that you have been working towards. Getting your leads
to cough up their money in return for your product or service. Okay, that sounds crude, but you
get what I mean? Closing a deal is the sweet spot for any salesperson, and this should be the
final step for an inside salesperson before he hands it on to the customer success team.

Note that the inside sales process largely depends on your organization, goal, and team
structure. However, you’ll frequently come across terms like BDR, SDR, and AE. Let me
explain these roles and their participation in inside sales.

• SDR stands for Sales Development Representatives. They focus on reaching out,
prospecting, and deciding if a lead is qualified or not. For example, when a person
downloads a document or registers for a webinar, requests a demo or initiates chat,
SDRs contact them, enter call disposition and update tasks done in CRM and hand over
the lead to an Account Executive or AE. Note that SDRs work with both inside and
outside sales teams.

• BDR stands for Business Development Representatives. They focus on generating

qualified prospects using cold email, cold calling, social selling, and networking. Often
SDRs do cold calling and pass on qualified leads to BDRs and AEs.

15
 • AE stands for Account Executives. They are responsible for conducting meetings,
nurturing the sales pipeline, closing deals, and managing customer interactions.

Inside Sales Team Structure

In this organizations, there is a VP – Sales, Team Lead – Inside Sales, and then a number
of SDRs and sales representatives.

For Example:

The Role of Managers and Team Leads in Inside Sales

Managers and Team Leads closely watch the activities or the discipline of their team members
and ensure the team is on track to achieve the revenue targets. They also set up processes to
empower the reps – and help them achieve the best possible outcomes based on past learnings.

16
Training:

The inside sales managers must train new joiners or reps to execute the tasks at hand. For
instance, initiate conversations, follow-up, and influence people to buy your product/service.
Managers also train their team members to use tech tools such as CRM.

Targets:

Team Leads and managers have individual and team targets. However, in the B2C space,
managers usually have only team targets.

Reporting:

Tools like CRM are a great aid in generating automated reports. Managers refer to the sales
activity reports that state:

• Daily/weekly calls made

• Call duration or talk time
• Meetings/demos scheduled
• Meetings/demos done
• Pipeline created
• Deals closed
• Revenue generated

Top Management:

Top management of Magic Billion mainly consists of:

CEO: Mrs. Aditi Banerjee

Co-founders: Mrs. Aditi Banerjee and Mr. Basab Banerjee

Magic Billion’s Achievement

• Sent 1800+ Indian youth to 10 countries.

17
 • Signed MoU with Russian Companies in presence of Prime Minister Modi &
President Putin in 2019 and 2021.

• MOU with Russian Company along with Government of India (NSDC).

• Partnership with Govt. of Haryana to place 200 youths for job opportunities in
Germany.

• The only company in India with most contracts from

German employers, sending the largest number of youths
to Germany from India.

• Founders from the Indian Army and Government background (NSDC).

• Our process is ISO 9001:2015 (International Quality Standard) Certified.

• We were awarded the prestigious "Indian Achiever’s Award 2022" for Emerging
Company.

• Our Co-Founder & CEO, Ms. Aditi Banerjee, has been featured on the Cover
of “Aspire” Global Magazine.

Magic Billion’s USP

• Validated international employers & jobs

• Pre-placement with the conditional offer letter

• Employer interactions & cultural immersion training

• 100% Skill Loans through our NBFC partners with many repayments’ options

• 100% assurance of passing the German Language Exam

18
Magic Billion’s Recognition

Magic Billion’s Partners

Magic Billion’s Global Footprint

19
Value Added Services provided by Magic Billion

• Language Training: They provide language training to our

candidates – available online, in-classroom sessions, or a
combination of both.

• Skill Loans: They have agreements with well-known NBFCs

to provide collateral-free loans.

• Technical Learning: We provide our candidates with job-

specific technical training as required at our training centre in
Kolkata.

• Culture Immersion: We support our candidates by giving

them culture immersion training to help them understand their
new country – from basic phrases to mannerisms to food habits
to accommodation and banking.

20
CHAPTER 3:
CONCEPTUAL
FRAMEWORK

21
 INSIDE SALES

Inside sales is the dominant sales model for reps in B2B, tech, SaaS, and a variety of B2C
industries selling high-ticket items. Put simply, inside sales is a way of handling sales remotely.

The job of an inside sales rep requires them to sell an organization’s products or services via
phone, email, or other online channels.

How does Inside Sales work?

Inside sales reps typically work alongside a team of other inside sales colleagues in a shared
office environment – making their job different from the face-to-face sales model pursued by
outside sales reps at their clients’ business locations.

There are typically two divisions within the inside sales department: Sales Development Reps
(SDRs) and Business Development Reps (BDRs). SDRs focus on inbound sales like warm
leads from potential clients who have performed an action on the website — downloaded
content, requested a demo, utilized live chat, or attended a webinar.

These warm leads are typically from small businesses and commercial industries. SDRs make
contact with these leads, and log information into a CRM platform where a more senior
salesperson, called an Account Executive (AE), will begin nurturing these opportunities in the
sales pipeline.

Business Development Reps are the cold callers. These outbound sales reps focus on higher-
end commercial and enterprise opportunities. Once a lead is qualified, it is sent to an Account
Executive.

These sales process stages allow SDRs and BDRs to provide a constant influx of leads from
two different market segments: small business/small commercial and large
commercial/enterprise. Account Executives follow these opportunities through the sales
pipeline.

Inside Sales vs Outside Sales

Modern salespeople will be familiar with the growing need for a connected customer
experience that segues neatly into the first personal contact. As a result, many organizations
are re-examining the advantages and disadvantages of traditional sales in the field and how
well it serves the needs of a customer in the twenty-first century.
After many years of inside sales reps playing backup to their higher-paid counterparts in the
outside sales field, the internet has caused a shift in the way that buyers and sellers interact,
meaning that many organizations are shifting their focus to keep up.

22
This is not to say that outside sales have no advantages. Some argue that an imbalance towards
inside sales fails to exploit the value of face-to-face conversations – and certainly, an
interaction in person does add value to a transaction. When a salesperson travels to meet a
client at their premises, it is often easier for them to build trust and articulate exactly how the
product would resolve the client’s pain.

That’s why, for most organizations, outside sales still forms at least part of the strategy. But
with businesses now seeking ways to grow conversations at all stages of their sales funnel, the
establishment of a skilled inside sales team is a logical way to compete for their share of ever-
shrinking buyer attention.

What are the benefits of Inside Sales?

• Leveraging technological opportunities to increase cost efficiency

• More time for ancillary tasks
• Revenue predictability
• Opportunity for specialized roles
• Better opportunities for collaboration and coaching
• Greater scalability
• Ability to adapt to a changing buyer demographic
• Leveraging technological opportunities to increase cost efficiency

Thanks to CRM systems, marketing automation, social analytics software, and social selling
tools, inside sales reps can contact the right prospects more quickly, shortening the sales cycle
and reducing the cost per acquisition.

• More time for ancillary tasks

Selling isn’t just about the close – numerous administrative and prospecting tasks
accompany a successful sale. Inside sales reps spend far more time in the office than
field reps and are better placed to take on their workload in a time-efficient manner.

• Revenue predictability

Based on CRM, companies are now able to predict how much revenue a salesperson
will produce and the ROI this represents. Predictable revenue necessitates a lead-
focused approach. Since inside sales are more closely integrated with marketing, they
are in a better position to work together and fill the sales pipeline.

• Opportunity for specialized roles

Engaging with prospects at all levels of the sales funnel requires an appropriately
segmented sales force. Traditional field reps work to quotas and are thus poorly placed
to exploit less profitable opportunities that take longer to close. The problem is that
such prospects may very well be valuable to an organization in the long run. Mapping

23
 roles and responsibilities for different members of your inside sales team allows you to
cater to all buyers at all stages of the customer journey.

• Better opportunities for collaboration and coaching

Thanks to the physical proximity of sales reps to their managers, inside sales facilitate
better team cohesion and enhanced opportunities for coaching and professional
training. It also reduces the time required for onboarding new employees.

• Greater scalability

Inside sales teams can be scaled up without the expense and inconvenience of
relocation.

• Ability to adapt to a changing buyer demographic

Nowadays, it’s probable that a target buyer will be someone more likely to respond to
digital funnel campaigns than to be wooed over lunch. A strong inside sales team can
capitalize on this trend to lower the cost of sales and take advantage of cross-
selling and upselling opportunities.

5 Steps to Successful Inside Sales

Sophisticated customer requirements call for a properly nurtured team and a well-honed
approach. Here are a few points to consider when you’re putting together your plan:

• The right software for successful Inside Sales

Inside sales are all about capitalizing on the potential offered by effective lead
management. Precise targeting of prospects requires a data-driven approach – which is
why user-friendly SaaS tools like CRM databases, web conferencing platforms, and
social analytics tools are vital for inside sales success.

• Sales and Marketing alignment

It’s a conflict as old as the disciplines themselves: sales teams complain that marketing
doesn’t provide enough genuine leads, while marketing complains that sales don’t make
use of them. Take time to optimize the alignment of your inside sales and marketing
departments so you can take advantage of the resulting synergies. Your sales
department should be clear about their needs, while marketing must be prepared to run
transparent campaigns and be flexible about the assets they provide.

• Well-thought-out inside Sales organization

Each member of your inside sales team should have a clearly defined role and
responsibilities. You might decide to segment your team according to a market

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 segment, product/service, stages of the customer journey, geography, or any
combination of the above. Look at the data and decide what works for your brand.

• A Motivated team

Unfortunately, dealing with difficult clients and facing recurring sales obstacles can
take its toll on a team’s motivation. That’s life. Your job is to motivate accordingly: by
encouraging your team to make the best of rejection, celebrating small wins, and
thinking about the best way for your reps to visualize their sales performance – real-
time tracking for a continuous feedback loop or a broader weekly/monthly perspective?

• A Skilled team supported by ongoing training

Thanks to innovative sales enablement technologies, inside sales teams can sell even
more complex products and services without seeing the buyer in question. Long-term
sales success depends on nurturing the sales skills needed to handle these complex
transactions.

4 Essential Inside Sales Skills

• Listening

Sales reps dealing with customers remotely don’t have the benefit of body language to
understand what their customers are (and just as importantly, what they aren’t) saying.
They must possess strong listening skills and be able to focus on how a customer
answers question.

• Building a rapport

In a similar vein, “making friends” over the phone or email is much trickier than in
person. Customers are quick to sense a lack of authenticity. Sales reps should be
themselves and demonstrate that they’ve done their research – speaking in general
terms or making unrealistic promises are sure-fire ways to turn a prospect off.

• Sticking to an Organised Strategy

Inside sales reps are likely to be handling many different accounts, and must always
have vital information about each account to hand. Optimizing an organizational
strategy is fine; however, continually switching from strategy to strategy will waste
more time than it saves.

• Reliability

People are generally less likely to trust what someone tells them over the phone.
Because of this, inside sales reps need to manage their time so they can deliver on every

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 promise made, no matter how big or small. If a customer is expecting a call at 2, they
must receive it on time!

Inside Sales Strategies

Following these inside sales success tips will improve performance.

• Research Customer Needs to Offer Relevant Findings

Inside sales organizations face strong competition. Often their response to this competition
is the aggressive promotion of their products and services.

The problem: most other sellers are following this same approach.

Ironically, by attempting to rise above the competition, sellers place themselves right at its
centre. While it’s important to communicate the value of the solution, sellers must first gain
a clear understanding of the customer’s needs.

This crucial first step will help address the common disconnect between a proposed
solution and a customer's need. This problem is highlighted in a study from Bain &
Company that reports, only 60% of B2B companies believe they do a good job of “aligning
offers to target customer segments.” In fact, the same survey of 550 sales executives
revealed that only 40% of sales reps have a strong understanding of their company’s
differentiation.

By researching potential gaps and needs in advance, inside sales professionals can identify
opportunities to create differentiated value. Once these differentiators are understood,
sellers can map their capabilities to customer needs.

Ultimately, customers are receptive because the information is relatable. However, keeping
the information relevant means avoiding the tendency to show the volume of one’s
findings. Sellers must share only the most relevant information — otherwise, they risk
losing the customer. Volume doesn’t necessarily equal value.

• Legitimize Presence by Creating Context

Nothing discredits an inside sales professional faster than using vague generalities that
make the customer feel like they are on the receiving end of a cold call.

Context setting starts with a carefully crafted value statement linking the seller’s
capabilities to the customer’s challenges. The value statement must address what’s
important to the customer, how the sales professional’s product or service can help, and
what outcomes can be expected. This statement should specifically demonstrate an
understanding of the customer’s perspective and offer ideas that are specific to their
industry.

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 A strong value statement fits the inside selling model because it’s brief. Brevity matters
because inside sellers leverage technology to reach more customers in less time. With a
concise articulation of value, a seller can form a connection faster over several calls. This
connection bolsters the seller’s presence, which helps prevent customers from disengaging
from the conversation.

• Balance Questioning with Insights

The core of consultative selling is the ability to understand customer needs. It’s also the
skill most lacking in sales today.

“From the customer’s point of view, the greatest need for improvement is in salespeople’s
knowledge of the customer’s business and industry,” reports The Harvard Business
Review. The finding comes after comparing the inconsistencies between what sellers
believe is expected of them and what the customer wants. Sales professionals can remedy
this problem by using open-ended sales questions.

Effective questioning starts by providing the rationale for the inquiry. This preface
encourages customers to share information. However, questioning shouldn’t be an
interrogation. Sellers need to earn the right by balancing their questions with insights.

By offering relevant ideas, the inside sales rep establishes credibility. As the seller moves
through these questions, they must acknowledge what the customer said as they lead to the
next question.

• Consider the Impact of Phrasing

The “framing effect” is a psychological principle asserting that the same person will make
two different choices depending on how information is presented.

Research from the Journal of General Internal Medicine supports this idea. In the study,
doctors positioned a new prescription in two ways. They found more patients experienced
greater motivation when doctors described the benefits in comparison to another choice
over learning about the benefits without context. Framing is a form of positioning. Sellers
can put the framing effect to use by emphasizing the value in relative terms.

Once a seller has properly positioned the solution with framing, they must check for
feedback. Open-ended questions are an effective way to get the customer’s thoughts.
Remember, the risks associated with not knowing the customer’s outlook are greater than
any negativity the question may elicit. Though it may feel unnatural, checking for feedback
is critical.

• Build Knowledge-Based Trust

Follow-up is the most effective way to build credibility. Delivering on a promise, no matter
how small, earns the customer’s “knowledge-based” trust, which develops from actions
that are consistent with words. Meanwhile, internal follow-up is equally important. Sharing
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 and recording information about the call shortly after hanging up is critical to preserving
the details.

In many cases, the follow-up requires coordination on the part of others. Therefore, the
sales professional must remember that even if others are expected to send additional
material, it is their job to ensure it happens.

• Resolve Objections

Objections often stem from cognitive dissonance, which is a tendency to discount, dismiss,
or oppose information that is new or conflicts with our beliefs because it creates emotional
discomfort. Both customers and sellers are prone to it. Customers object because of it.
Sellers are naturally wired to react by defending their points of view to relieve their
emotional discomfort. This only increases the level of cognitive dissonance for the
customer.

Inside sales professionals can be trained to defuse feelings of defensiveness by learning to

make sure the customer knows that they’ve been heard and understood by someone who is
focused on understanding their concerns and needs. Even if the objection isn’t fully
resolved, the customer should at least remain engaged in the conversation.

• Build Self Perception

Consultative Inside Sales doesn’t mandate that one changes who they are. Rather, the
consultative framework asks sellers to become more cognizant of how they present
themselves. With a greater understanding of one’s strengths and weaknesses, it’s possible
to leverage abilities while applying aspects of the framework to areas in need of
improvement. Sellers with a high level of self-perception know which characteristics of the
consultative model require more of their attention. They know how they appear. As a result,
they can effectively shape the customer's perception.

• Become an Active Listener

Active listening involves focusing on the customer ’s word choice, inflection, and
intonation. With attentiveness, an inside sales rep can glean as much information over the
phone and video as they would in a face-to-face meeting. Becoming attuned to the details
of the customer ’s responses is central to a consultative approach because it clarifies needs.
Beware of self-serving motivations and environmental distractions — all of which hinder
active listening. Seek to understand, rather than wait to talk.

• Let Feedback Guide the Process

Customer feedback offers clues to closing. Take time to check with the customer that the
solutions discussed meet their challenges. This information is needed at the moment when
the seller can react. Moreover, the concept of floating ideas is possible due to feedback.
Getting the customer ’s reactions is critical in keeping ideas malleable. Additionally, asking

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for the customer ’s perspective demonstrates the seller ’s commitment to a collaborative,
consultative process.

As technology, budgets, and schedules present greater influence, inside sales are a priority
for most businesses. Therefore, excellence in inside sales, the driver of inside sales, is
critical to success today. However, with this approach comes the challenge of establishing
value with numerous clients exhibiting different needs. The power of the consultative
approach is that it helps sellers apply a consistent methodology to varied customers and
ultimately drives more sales.

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 CHAPTER 4:
ANALYSIS AND
INTERPRETATION
OF DATA

30
DATA INTERPRETATION AND ANALYSIS
A survey on 40-50 employees of Magic Billion was conducted by approaching
them in person and also by providing on-line link of the same questionnaire
(https://docs.google.com/forms/d/e/1FAIpQLScrnkDLO26rG1y3zvbYmudOW
1jRgPVfCe5LyW26ly1bVvbJaQ/viewform) so that they can choose the method of
filling out forms as per their convenience.

The result of which are presented below:

Q1. Gender of the Respondents

Fig 3.1

Source: Primary Data

OBSERVATION: From the Fig 3.1, there were a total of (71.4%) Males while the Females
were (28.6%) in number. The percentage of Males is relatively higher which shows that males
are hired more than females for the Job Profile of Inside Sales Representative in the company
or you can say that Females are less interested in this profile in comparison with Males.

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Q2. For how many years are you working in the organization?

Fig 3.2

Source: Primary Data

OBSERVATION: From the Fig 3.2, there were (66.7%) of employees who are working <1
year in the organization, (19%) are working for 1-2 years, and (11.9%) are working for 2-4
years. This shows that the organization is significantly having youthful and propelled people.
But on the other hand, the organization should also focus on employee retention.

Q3. Do you have prior Inside Sales experience?

Fig 3.3

Source: Primary Data

OBSERVATION: From the Fig 3.3, there were (47.6%) of employees don’t have Inside Sales
experience, (45.2%) have Inside Sales Experience, and (7.1%) were not sure. This shows that
the company hires both candidates who may or may not have Inside Sales experience, no such
preference is given to experienced ones and also shows that the company is also interested in
hiring freshers.

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Q4. What do you find most challenging about working in Inside Sales?

Fig 3.4

Source: Primary Data

OBSERVATION: From the Fig 3.4, (38.1%) of employees found that “Not Engaging with
all the decision Makers” as challenging, (28.6%) found “Transitioning to Virtual Selling”
as challenging, (23.8%) found “Process Chaos” as challenging and (9.5%) considers “Not
doing enough Research” as challenging. This shows Inside Sales is always challenging for
the employees of the Organisation

Q5. Best method of Inside Sales according to you?

Fig 3.5

Source: Primary Data

OBSERVATION: From the Fig 3.5, (35.75%) of employees choose Face to Face Interaction
and Social Media as the best method of Inside Sales and (16.7%) consider Phone Calls as the
best method. This shows that Face to Face Interaction and social media are the best and most

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commonly used methods of Inside Sales according to the employees of the Organization, but
the organization needs to work on other methods as well to accelerate Inside Sales.

Q6. Does Company provide proper resources?

Fig 3.6

Source: Primary Data

OBSERVATION: From the Fig 3.6, (59.5%) of employees said ‘YES’ that the company is
providing proper resources while (9.5%) said ‘NO’ and (31%) opted for ‘MAYBE’. This
shows that many employees said ‘YES’ that company is providing proper resources which is
beneficial for the organization and the employees as well, but need to look at the employees
who opted for ‘MAYBE’ and ‘NO’

Q7. Does Company provide proper Training and Development?

Fig 3.7

Source: Primary Data

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OBSERVATION: From the Fig 3.7, (64.3%) of employees said ‘YES’ that the company is
providing proper resources while (26.2%) said ‘NO’ and (9.5%) opted for ‘MAYBE’. This
shows that many employees said ‘YES’ that company is providing proper Training and
Development which is beneficial for the organization and the employees as well, but need to
take care of the employees who opted for ‘MAYBE’ and ‘NO’

Q8. Reaction of Customers

Fig 3.7

Source: Primary Data

OBSERVATION: From the Fig 3.8, (53.7%) of Customers reacted ‘Good’, (26.8%) reacted
‘Very Good’ and (19.5%) reacted ‘Excellent’. This shows overall customers are satisfied with
the products offered by the Company but the company should need a lit bit of improvement to
satisfy their customers with their products.

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 CHAPTER 5:
RECOMMENDATION
AND
CONCLUSION

36
 CONCLUSION

The MAGIC BILLION (a unit of TGM Services Private Limited) grown in

India since it was established at a considerable rate. The company has been
creating job opportunities for interns and professionals also. It has been a
supporter of Global Employers by finding high-quality Indian talent. As one of
the major growing companies, plays a vital role in industry and is a one-stop
solution for both global employers and Indian candidates.
To be successful, relentless contribution and dedication of the organization’s
marketing department is needed. To compete in ever changing international as
well as in local markets in adverse situations, marketing department work has
become much more difficult in today’s ever changing business environment.
Developing plans in a dynamic situation demands critical analysis of the situation
and strictly adhering to the core principle of the organization. As the MAGIC
BILLION (a unit of TGM Services Private Limited) the organization and core
values are cherished by everyone within the organization, operating in dynamic
situation is easier than it seems.

In this report, I have tried my level best to know the effectiveness of Strategies
to Accelerate Inside Sales of “MAGIC BILLION” (a unit of TGM Services
Private Limited), What and how they implement the different strategies to
penetrate the market. The organisation is doing great but need to focus more on
their Retention of Employees, Strategies and Methods of Inside Sales.

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 RECOMMENDATION

1. Target new segments: The company can altogether target a new segment for
market penetration. Although they are doing great in this segment, but to expand
they need to target new segments too.

Instagram, LinkedIn, Facebook is most certainly driving the race since they have
the most ideal choices to characterize who you need to target segment to and you
can set anything that financial plan you are OK with. Instagram likewise permits
you to focus on your crowd based on up to 10 interests of your crowd. Therefore,
it's critical to have a characterized target audience, you need to understand what
they like to do and what they need so you know how to make content that will
catch their consideration.

2. Better Research Department: The competitors are coming up with new

innovation in this field so the company can benefit by the intervention of a new
research department to research on competitors’ products and improve our
product.

A many individuals utilize supported posts and other paid promoting, and it
appears to be that many are glad to just compensation the cash and watch the
perspectives and snaps come in - regardless of whether a portion of those snaps
are from people extraneous to the item or administration they're advancing. Most
stages permit you to explicitly focus on your supported posts and promotions, and
my tip is to do so following a period (even if it's just a brief time) of genuine
examination. Your intuition could educate you a ton concerning who your clients
are, however you ought to likewise get some margin to find out for yourself -
which profiles of consumer spend the most? Who are the ones who return over
and over? Where is a greater amount of your clients based?

3. Retention of employees: Retaining your sales reps is one of the most critical
factors in building a high-performing sales team. When a company loses
salespeople, they also lose a great deal of institutional knowledge. If you are not
retaining sales employees, you are also spending a lot of money and time
training new sales reps with no guarantee that they’ll stick around and provide

38
value to the company.

4. Strategies: Today, more and more sales organizations are revisiting their
inside sales strategies to ensure that they are accessing the full potential of their
inside sales teams. For example, Astra Zeneca exchanged a field sales team for
a 300-person inside sales team, and IBM accelerated their high-quality
inbound lead rate with renewed investment in inside sales. Further,
some industries are reporting that 55% of their sales originate from inside teams.

5. Social media Marketing: It is one of the main approaches to illuminating

individuals about the organization's administrations and building a brand picture.
The majority of individuals these days are most dynamic via web-based
entertainment, consequently advancing the organization is at present awesome.
The Marketing division involves this stage in the most effective way to arrive at
the clients.

6. Tap other Inside Sales Methods: Put simply, Inside Sales is a way of
handling sales remotely. The job of an inside sales rep requires them to sell an
organisation's products or services via phone, email or other online channels.

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 BIBLIOGRAPHY

1. https://www.investopedia.com/terms/i/inside-sales.asp

2. https://www.richardson.com/sales-resources/potential-inside-
sales/

3. https://www.magicbillion.in/# (Profile of the Organization)

4. https://www.leadsquared.com/learn/sales/inside-sales/

5. https://www.theseus.fi/bitstream/handle/10024/136600/Hirvone
n_Mooses.pdf (Literature Review)

6. https://www.salesforce.com/eu/learning-centre/sales/what-is-
inside-sales/

7. https://www.funnelclarity.com/blog/4-retention-strategies-for-
sales-employees

8. https://docs.google.com/forms/d/e/1FAIpQLScrnkDLO26rG1y3
zvbYmudOW1jRgPVfCe5LyW26ly1bVvbJaQ/viewform
(Questionnaire)

9. https://docs.google.com/forms/d/1veydzQa0tNE7iLa7ZYbrq0m
F2E5fSUutt2fJwCDdJhs/edit#responses (Questionnaire
Responses)

10. PDF received from the Company

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 ANNEXURE

QUESTIONNAIRE:

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RESPONSES:

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