Outsourced Sales Development companies live and breath on creating results for their clients.
If they don’t produce results, they are cancelled. As Sales Development professionals, we must learn how these companies produce results day in and day out.
Our guest this week is Mike Farrell, who ran one of the largest and most respected Outsourced companies for over a decade at By Appointment Only We dive into the details of how it worked, how he ran the it and the lessons learned.
If you run a Sales Development program or are trying to figure yours out, you must listen to this one.
By the way, we just announced The Sales Development Conference 2019, August 23rd in San Francisco! Super Early Bird tickets are sold out so grab Early Bird before they’re gone too, right here → http://tenbound.com/conference/
Big thanks to Darryl Praill of VanillaSoft for making this podcast possible. Check out their new Sales Engagement solutions here… https://www.vanillasoft.com/solutions…
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Notable Quotes:
“The problem is, we were in the game dealing with live ammunition more than we’re practicing. So, you really have to inject that training and practice, especially in sales, a little bit more to make sure when you do have a live call, you’re putting your best foot forward for the company.”
– Mike Farrell
Brief Summary
Way back when, the thought of outsourcing appointment-setting was an outrageous thought any VP of Sales at the time would dare to consider. But not anymore. Outsourcing appointment-setting has now become many companies’ sole source of appointments, or as a supplement to their own inside sales teams. In this episode of The Sales Development Podcast, we’re talking one of the first people who started the whole outsourced Sales Development industry, Mike Farrell.
Today’s Guest: Mike Farrell
Mike Farrell has always been in sales, working in big companies until he took off to work out the sales processes at a startup back in 2003. Fifteen years later, BAO has become one of the leading companies when it comes to outsourced appointment-setting. At the moment, Mike has now moved on from BAO and has started looking into new ventures that deal with setting up Sales Development programs.
The episode touches on the following key topics and ideas:
- Check out the 2019 Tenbound Sales Development Conference (00:00)
- David introduces the episode’s guest, Mike Farrell (01:42)
- Mike Farrell and how he got into the Sales Development industry (02:20)
- What Mike Farrell thinks made BAO successful (04:24)
- The company’s growth in spurts (07:07)
- BAO’s clients built up like a flywheel (08:22)
- BAO: a performance-based model (09:18)
- Performance-based model and other pricing structures of outsourced Sales Development services (09:50)
- Setting up service level agreements and holding customers accountable (11:18)
- Customer success people who have the tough conversations with clients (14:06)
- Leveraging a recording system like Exacqvision for both coaching and quality assurance (15:26)
- Do phone calls still work in the advent of call blocking? (17:42)
- Who provides the data of people to call? (20:15)
- Is there anyone in charge of managing the data? (21:52)
- One of the first questions for outsourced SDRs is the data (23:50)
- The six skill levels at BAO, how it works and how people can move up (25:02)
- Ageism and lack of diversity in the SDR field, while the opposite is true in outsourced companies (27:42)
- The BAO Academy (30:44)
- The level of investment at the BAO Academy (34:17)
- What Mike Farrell is working on at the moment (37:18)
- Try all the different avenues—they all still work (38:12)
List of Resources Mentioned in the Episode
- Mike Farrell
LinkedIn - BAO (By Appointment Only)
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Next Episode: https://tenbound.com/podcast/episode-90-addison-lee/
