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What does a Sales Development Rep (SDR) in Software Sales Actually Do?
If you trying to find an SDR role and want more clarity as to what you would actually be doing, or if you are presently an SDR this video is for you.
I have been an SDR at a leading software company for the past two years. In that time I have made over 37,000 cold calls leading to over 11 million in pipeline generation with close to 1 million dollars in won revenue. We will cover what those terms mean in today’s video.
If you want to do software sales the typical hierarchy of any firm is that you start as a sales development rep (SDR) or business dev rep (BDR) to master top of funnel activities, essentially prospecting or “finding potential customers”. Once you master that skill you become an Account Executive (AE). The purpose of this role is to work with mid-market companies (typically $0-$5B in revenue) and sell them our products - which makes our company money. From that point you can evolve to become an Enterprise Seller, this is someone who sells large deals to massive companies, as you can imagine, this role is quite lucrative.
To better understand the role or really anything in life, look at the incentives. Most SDR’s are compensated on generating pipeline or deals that lead to closed revenue. The pipeline is essentially after an initial meeting with a potential customer goes well, the pipeline amount is the potential deal size. The more pipeline you have, the better position you will be in to close enough revenue to hit your quota. So the goal of an SDR is to help generate a quality pipeline for the firm.
How do you generate a pipeline?
It all starts with having a list of your accounts, lets say you have 100 accounts (companies that you are tasked with germinating business with or expanding upon current business). The first step to any deal cycle is to set up an initial meeting (we call these IQM’s-inital qualifying meetings). There are many ways to accomplish this but most common are first identifying potential buyers of your product, you then cold call them, email them, or reach out via LinkedIn.
If you get someone on the phone your goal is to sell time initially, quickly probe to determine if your product is relevant to their areas of focus, if so build value then ask them if they would be interested in setting up a call. On that initial call you will loop in your account executive that you are aligned with on the given account. The purpose of the meeting is to determine (budget, timeline, pain, decision-criteria for a solution, any metrics associated with the problem). If you can qualify all of these types you set up another call to do further discovery or a product demo. If the call advances it is considered qualified pipeline and you have done your job as an SDR.
My day as an SDR is broken down into active prospecting (reaching out to companies via call, email, social), General prospecting (finding relevant people to reach out to), and collaborating with others (team meetings, one on one’s with my account executives, personal development, coaching).
Many people will try to complicate the role of an SDR but it’s quite simple. You are paid to generate new business. It becomes receptive after awhile, and you will face a ton of rejection, but these skills (cold calling and prospecting) are foundational skills that will serve you well as you move up the software sales hierarchy and become account executives.
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