The extensive process of hiring a sales team and investing more in their training, retaining, and incentivizing can exhaust a business way before it even takes off. So, how does one prioritize sales and not disrupt its core revenue— the solution lies within ‘Sales Outsourcing’. Simply put, sales outsourcing as the name suggests is a popular means of allowing a third-party to initiate research, learn about your products and services, and have a dedicated team to boost your sales. Prioritizing the quality of leads and accentuating your sales funnel through sales outsourcing is hassle-free, result-oriented, and more rewarding.
Most businesses tend to shift their focus on managing existing customers and rely on sales outsourcing to provide them with quality leads. However, when does a business truly recognize the precedence of bringing on-board sales outsourcing:
- When there is a lack of experience and expertise within the sales functions, for instance, catering to the skill of lead generation, appointment setting, and so on.
- When there might be an issue with scalability and the requirement of sales development representatives in other leading campaigns.
- When cost-effectiveness is a priority and investing in extensive sales teams is not an option.
- When businesses decide on entering different market segments or are trying to capture a new geographic domain.
- When the core goal is to increase sales across locations and parameters.
While these reasons are great to give you a foundation on whether you need sales outsourcing services, keep in mind that sales outsourcing is highly popular as it does amplify your sales model and brings with it a different set of sales skills that cater to new products or services and also increases your sales efforts drastically. Here are a few more reasons to why outsourcing sales could prove to be fruitful for you:
- Sales outsourcing services come with ample experience that has proven results and offer sales functions that come with a big salary tag if hired individually.
- They follow state-of-the-art methodology that is tried and tested and assures qualified leads.
- They are thorough in research and have detailed reporting features that allow in-depth analytics and data on how well the process works for the business.
- They have the potential to match skills that are required for all types of scalable businesses and a business does not worry about retaining them.
- They are affordable and usually cost far lesser than on-desk sales professionals who might or might not perform as the business intends them to.
Now that you have weighed in the pros of utilizing sales outsourcing services, there are umpteen other services where their expertise can prove advantageous for you. Here are a few functions that you might not have thought of before that can be outsourced to ensure better results.
Targeting An Ideal Audience:
The biggest concern to any business owner is finding an ideal target audience that either benefit from the product or service or are already on the lookout for the same. A competent sales outsourcing service provider can bridge the gap between your business and the ideal prospect. Through extensive market research and evaluation, a sales outsourcing service can provide you with a stable Go-To-Market strategy that will help you grow your business in the long run as well.
A Blended Sales Approach:
Outsourcing your sales to a service provider will help you reach your audience through various mediums that might have not been possible with your current setup. They have the capability to offer a blended solution that covers inside sales, field sales, inbound, outbound efforts and ultimately leading to closing a deal for you. Having a blended sales approach allows them to analyze what effort works best for your business and give you better output time and time again.
Synchronized Sales Effectiveness:
Outsourced sales functions have a variety of techniques to boost sales. Now, the effort can be through content marketing, social selling, identifying target companies, and data on real buyer personas that can help run a seamless sales process. They have the skill to devise, identify, follow up, and nurture leads to accentuate sales systematically.
To cover geographical or language barriers, expand business opportunities through modern sales execution skills, outsourcing sales can be an asset to businesses big and small, alike. But what makes it a relatively excellent option is that sales leaders can estimate the revenue opportunity the service can provide. Yes, a financial return on sales outsourcing service can be evaluated in two ways.
Businesses can assess their Current Customer Acquisition (CAC) along with their Customer Lifetime Value (LTV). This method can help provide clarity on the actual cost per appointment or lead quality generated by the outsourced sales team. The technique can also be used to evaluate the sales cycle period and note the difference between previous go-to-market (GTM) execution. The second-best way to calculate the investment is by estimating the opportunity cost. This can be calculated by adding the cost you would have incurred if you hired a sales team, integrated your business with the preferred technology and the number of leads in your sales funnel.
Beyond Codes helps businesses reduce hefty investments in sales by leveraging a team of experts who can help the brand reach a relevant target audience, build a lead pipeline, and close deals effortlessly. By working as an extension of your team, enable yourself to reach newer markets, expand your target audience, and create a unified customer engagement program. Manage a complete sales cycle with Beyond Codes to help nurture leads and close new business.