“You have to be on top of your game.”
“Why aren’t you closing sales as quickly as you used to?”
These are all questions and comments your sales department hears time and again. Are you a business owner or sales manager? If so, you blush when you realize you’ve asked at least one sales rep these very questions.
You’re not the only one. In fact, sometimes they ask themselves the same questions. It’s not so much about your business lacking team spirit or morale, even though that’s part of it.
Dwindling opportunities. Low revenue. Few team members. A lot of work and not enough top talent to handle it. No new inspiration. These are all symptoms of overwhelmed sales companies. None of them are the direct cause of stagnant sales.
If you relate to any of those scenarios, don’t stress just yet. Sales outsourcing is the solution you need.
What is Sales Outsourcing?
Okay, so sales outsourcing can solve your problems. But how is this one idea the end-all, be-all? You might not even know what it is.
To some industry pros, the word “outsource” seems like a way to give up all the influence you worked so hard for. Won’t outsourcing companies just bring in some hotshot who couldn’t care less about your organization?
It’s just the opposite.
Sales outsourcing is when you let an external company take some of the weight off your shoulders. You don’t give up any of that well-earned respect. Instead, you let some sales responsibilities switch over to them.
That outsourcing company then creates an experienced sales team. They offer your clients solutions in the form of products or services.
Let’s look at this beneficial situation in terms of your own personal life. When you need more information on a new recipe, what do you do?
Do you beat yourself up when you don’t know all of the ingredients right off the bat? If it’s an old recipe you haven’t made in years, do you just wing it if you forgot some of the ingredients? No. You buy a cookbook, find the old recipe in a cabinet, or head online to figure it out.
Think of this outsourced sales team as your new recipe for success. If you’ve been in the industry long enough, you get caught up in other important tasks. You might not remember all of the ingredients in your sales process. If you’re new to the scene, you have to read through the whole recipe and do it a few times before you see the results you want.
The outsourcing company you choose hires, trains, and manages your internal sales team. They’re kind of like your own custom-fit contractors. They understand your brand values and uphold them when they deal with your customers.
Why Do Companies Outsource Sales?
You think you don’t know any other companies in your industry that use sales outsourcing. But are you sure?
After all, a huge portion of successful businesses uses outsourced marketing, which you also might not realize. So it could just be that you don’t know about it: the outsource marketing and sales solutions alike. That’s because the best-outsourced sales are seamless.
Companies outsource sales because they can use available expert knowledge. It helps them gain competitive advantages in the marketplace.
Outsourced sales teams are at the forefront of your competitive business world. They can:
- Analyze market trends and make a sales plan accordingly
- Enhance your company’s cyber security
- Increase your market shares
- Keep your indirect sales up-to-date with new tools and technologies
- Use their established company’s resources to benefit your business
- Target a new market
- Retain existing customers
- Reach performance goals on time
And that doesn’t even scratch the surface. The best outsourcing company is sure to skyrocket your revenue. That doesn’t change, no matter the size of your business or how long you’ve been around.
Important Reasons You Need Sales Outsourcing
Have we opened your mind a little bit to the idea of sales outsourcing?
We know that your organization is one-of-a-kind. But even with that in mind, everyone in your industry shares the same basic goal. You want to succeed.
You strive for high numbers from your closed sales and you want them within a certain timeframe. Then you try to produce a new and original product and service ideas to make your customers happy. You reach for the stars to drive revenue and expand your reach.
Yet, it’s not always possible to achieve all of those goals. And you definitely can’t do it on your own. But that’s okay! We’re here to help.
When you catch a cold, you take medicine for it. Why not give your business the same level of care as you do yourself? After all, it’s an extension of you. So treat sales outsourcing like the medicine your organization needs to grow.
Let’s talk about the six primary reasons you really need sales outsourcing.
1. Outsourcing Cuts the Cost of Sales–Significantly
It’s not just about giving up control. Some sales companies are concerned that outsourcing solutions are an extra cost they can’t justify. In reality, it’s reversed.
Remember how we said that the sales outsourcing company will hire, train and manage your internal sales team? The training is something to pay attention to.
According to TTEC, 37 percent of sales reps don’t make their quotas. What happens when you outsource, though?
When TTEC surveyed the companies who outsource sales, 79 percent said they reach their goals better than without outsourcing. They also reach them faster. That’s a lot of money saved.
But there’s more. If you’re one of those people that thinks inside sales outsourcing will put a dent in your finances, pay attention here.
The costs associated with staffing and running your own internal sales team? They’re far higher than an outsourced sales team. You might think it’s only around 25 dollars more per person than your own sales rep.
Think again. On average, an external salesperson only costs between 25 to 30 dollars for each customer contact. A field salesperson can run you 300 to 500 dollars.
Have you thought about what you pay each internal sales rep in benefits, overtime, resources, and travel expenses? You cut those out of the equation with sales outsourcing.
2. Sales Outsourcing Experts Can Handle Exactly What You Need
You read that right: when you outsource sales, you welcome aboard experts who can handle almost whatever you need.
We’ll admit, that’s pretty broad. Here are a few examples of what you might need and how they can provide it for you.
Do you have a new target audience you want to appeal to? Probably. If you aren’t outsourcing sales, do you have enough bodies in your sales department to market to them? Probably not. You could also have leads that you’ve already pinpointed. On your own, there’s not enough manpower to follow up.
Worry not. Sales outsourcing lets you do both and do them well.
Have you recently read about a new technology that you could benefit from? Say the tool is in the scope of your budget, so you buy it. It’s a whole different story when you don’t have the time to train your staff on how to use the new tool.
Outsourced sales teams are pros with innovative technology. They use it themselves to benefit your clients’ experiences. But they can also teach your internal sales department how to use it.
Often, you’ll find that your existing sales staff get into a bubble. They don’t consult with your other integral departments, like marketing. That leaves a gap between what they know and everything they have the potential to learn. All of that potential can benefit the number and amount of sales you close. Sales outsourcing bridges that gap.
Sales outsourcing offers expert advice. These experts draw on the wealth of knowledge they have from their outsourcing company. All of this together enhances sales performance and boosts morale.
3. Outsourcing Sales Can Provide You With Product/Services Support
So you have a new product or service you want to introduce into the market. You laid out your marketing strategy and have a clear vision of how it might succeed. But things can go wrong. With innovative ideas come risks.
It’s only natural to not want to expose your sales department to those risks. That’s especially true if you’re already worried about reaching your next sales quota.
So use your sales outsourcing company as a testing lab. In turn, they use their stock of analysis tools and experts to see what your target audience thinks about your new idea. It also gives you an idea of how to price your product or service and its life cycle.
4. Sales Outsourcing Will Improve Your Customer Engagement
There are a lot of different channels out there to use for stronger customer engagement. They’re pretty much at your fingertips. But there’s one big problem: you don’t always have the labor force to use them.
You can have your pick of the litter. There’s your own website and external ones to advertise on. Apps and extensions for customer chats are aplenty. Social media platforms like Instagram, Twitter, Facebook, and LinkedIn are booming. New ones pop up all the time.
You could combine your customer service department and internal sales team to chat with customers all day. They could collaborate with your marketers to sell on social media platforms. And still, that’s not always enough. Your teams don’t know how to engage customers with those tools.
With sales outsourcing, they will.
5. The Sales Outsourcing Business Model Allows for More Accountability, Analysis, and Consistent Performance Management
Most of us are familiar with lawyers who operate on a contingency fee basis. They only charge you a percentage if they win your case. Did you know that outsourcers charge you in a similar way?
In most cases, you only pay them if they close sales with new clients.
The result is a win-win scenario. You only have to pay them when they benefit you. They have more reason to help you succeed. Only then will they see the cash reward. As a result, they push harder to help the whole team succeed.
Outsourcers also have to keep up with what you expect of them, per their contract. That brings about more accountability.
6. You Can Leverage Sales Outsourcing in Terms of Sales and Analytic Tools Utilization
Sure, your business has a higher success rate when you use all of your available opportunities. You get there by analyzing customer data. It shows you everything you need to know about who your ideal buyer is. It increases revenue and boosts profit margins. You know that we know that, nobody can argue with it.
That potential revenue and profit is a moot point when you don’t actualize the data. And how can you without the right resources?
Outsourcing experts do. They analyze the data results to build an accurate buyer persona.
After analysis, the models they create don’t just show you who to market to. They also multiply your chances of keeping existing customers.
Should a Company Trust an Outside Organization?
You can see now why sales outsourcing stimulates business growth. There’s still a key concern, though.
“If my success relies so much on an external company, why should I trust someone I don’t know?”
As a small business, there’s turnover and a struggle to shine more than the competition. If you’re mid-level, you do well in your region but might not with the big dogs. Your organization might call another country home. When you want to succeed on U.S. soil, you don’t know all the regulations.
The moral of the story that we’re about to tell you should ease your distrust. Your company’s size doesn’t play a leading role. In light of any of those issues, the bottom line is that you have a number of things to worry about.
Sales outsourcing lets you shift your focus back to them. If you have a top role in a business, you don’t have time to think about the tedious parts of sales. Leave your team under a seasoned professional. The outsourcer trains your team so they have more work-life balance.
All in all, outsourcing fosters a sales department who give their all when they work. They spend their energy where they’re supposed to spend it. The end result? A dynamic presence in the marketplace with sales that come naturally.
The truth is that you don’t always have the resources to go at it alone.
Poor sales. Low-quality leads. Not enough top talent. Those are just a few ways Selling Revolution can push your business onto the road to success.
For more pro tips on business growth like these ones, head over to our blog. If you want to get the ball rolling and keep it that way, don’t wait. Book a call with us today.