Top 10 Benefits of Outsourcing Sales
Sales – the most dreaded word for most businesses especially because of the efforts that go behind it. However, since the emergence of the concept of outsourcing sales, things have been a lot different. How? What? Why? Don’t worry we will answer all your questions.
What is Sales outsourcing?
It is the process of allowing skilled outsourced or third-party salespeople to help your company leverage untapped markets and opportunities. This is carried out by a partnership with a professional outsourcing company.
Outsourcing sales guarantees faster and convenient ways to drive revenue and ensures that your company is working with experts who help you capitalize on the latest outsourcing trends with the utmost ease.
A professional outsourcing sales team will help you with top-rated expertise and provide you with data-driven insights and advanced technology to generate predictive revenue models and enhance touch cadence.
Do you still need more validation for outsourcing sales? Below, I have enlisted the top 10 benefits that declare outsourcing sales clear winner against in-house sales.
So, let’s get started!
1. Improves omnichannel customer engagement
In today’s age, chats and messaging holds indisputable power to generate leads and turn potential prospects into customers.
Having an access to sales reps’ expertise in the fields of digital channels easily serves the purpose of improving omnichannel customer engagement.
Plus, now the customers also have multiple preferences. They prefer to look through the internet, social media, and chats before they make a purchase.
Your company can see huge changes such as improved NPS (Net Promoter Score) and improved unit volume if you have outsourced partners who are experts in digital management and have the necessary skills required to connect with customers over chat.
2. Provides top-rated expertise
A great sales outsourcing team has probably been there in the market for a while. They have multiple clients from multiple industries with credible experience.
This ensures that by working with them, you will be exposed to the best talent there is, along with ideas and practices inspired by their working experience with multiple industries. A professional sales outsourcing team with expertise in your industry will prove to be an investment for your sales efforts.
Not only that, but it also makes adding benchmarks among reps extremely easy by identifying experiences in particular industries.
3. Reduces cost multifold
An inside salesperson costs an estimated value of $25 to $30 per customer contact.
While in the case of a field sales staff, the travel expenses and company benefits are added up. If that was not enough, it also costs around $300 to $500 per customer contact.
That is a huge difference, isn’t it?
Obviously, an Inside sales team is way cheaper than a field sales staff. But companies find it difficult to move from a field sales staff to an Inside sales team and manage it properly.
There’s a way out… outsourcing sales. By doing this, the sales cost is reduced multifold which allows more sales coverage at less cost.
4. Boosts internal-team performance
When an outsourced sales organization works alongside an internal team, it dramatically boosts the internal team performance across the boards by increasing their operations.
Whether a company is looking forward to bringing changes in the sales strategy or searching for the best ways to implement an effective digital marketing plan, an experienced outsourced sales partner can help with its experience to carry out the task most efficiently.
As the outsourced sales partner has already worked with multiple industries, it will bring forward the best approaches available in the market and make your internal team familiar with new ideas and fresh perspectives ringing around the corner.
5. Helps leverages data-driven insights
Do you want to identify your best customers?
Do you want to increase profits that directly increase revenue?
Of course, you do! And Data-driven insights help you to do exactly that.
Most B2B marketing and sales consulting firms use definite models to measure and analyze their sales efforts and also your target audiences buying behavior.
This obtained data can be used to:
● Improve your sales opportunities by identifying your best customers.
● Maintain multiple touches (via chats, e-mail, social media, etc.) effectively with the customer throughout the customer journey.
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6. Targets untapped markets/opportunities
Sales outsourcing is a great way to target untapped markets and gain new opportunities that were often left unserved due to in-house marketing.
Businesses must adhere to their long-term goals and plan accordingly. What is benefitting you today may not be good for the long term. That makes long term market strategy so important.
And if outsourcing sales is not a part of your long-term marketing strategy, you are not planning well. Outsourcing sales not just helps your business to target vertical and geographical markets, it is also effective in testing new methods of sales positioning.
By investing in outsourcing sales, you are also capable of trying and using advanced sales analytics and speech analytics before you extend these services to a larger audience.
7. Approaches issues holistically
The internal sales team does not always approach issues holistically. Instead, not only the sales department but the other departments including marketing also tend to work with a silo mentality.
Collaboration is hardly visible and dis-alignment takes a toll on the final results achieved. The main focus of each department is to ace the departmental tasks first.
Does it benefit a company? The answer is no.
When an external outsourcing sales team is introduced, it is positioned in such a manner that it works cross-functionally through all the departments.
Not only an outsourcer strives to help a company to handle tasks with a direct approach, they are also able to work in short time frames, which is not a possibility with the internal teams.
8. Capitalize on Advanced Technology
Having the best tools is of no use if you lack the skills to make the best use of them.
For that, you need a sales professional to help the company extract the most value out of the latest advanced technologies and features, all of which promise to benefit revenue.
An outsourced partner’s analytics tools will help your company to get the best data analytics. The data analytics, in turn, will give you the most exceptionally relevant insights.
Some of these insights will also help determine the best time to contact a customer or the best time to extend offers.
If you want to take your understanding of your prospect needs and demands to a different level, the outsourced partner can also combine data analytics with artificial intelligence. This will further maximize your sales opportunities.
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9. Analyses new product/service rollouts
Before a product or service is launched, the outsourced sales partner can help analyze whether the product/service is ready to bring into use, or if it needs revision or changes.
To do that, the outsourced partner calls customers for the testing of the product/service. Then, they collect their feedback and response to the product/service.
This data is then used to analyze the product/service rollouts which prove to be extremely useful in deciding price points and also gives an idea of the future of the sales cycle of the particular product.
10. Measurable results and greater accountability
The payment method for outsourcers is different. They are paid only when they successfully close a sale with a new client.
The success-fee method leads them to be more motivated towards improving their sales game and bringing new ideas to continue to maximize their sales efforts.
They are ready to take greater accountability for their tasks which guarantees measurable results.
In such instances, a contractual Service Level Agreement (SLA) is important to ensure no disagreement is followed in terms of responsibilities and expectations.
But most of all,
It reduces the pressure!
When you choose an outsource partner who can easily relate to the culture of your organization, remember that it will prove to be an important extension of your organization that eases your tasks and reduces the pressure.
Outsourcing sales does most of your tasks in a convenient, easy, and professional way. They free your shoulders from the extra burden and keep offering you new ideas and practices to make your sales process quick and successful.
Hence, if you want to gain a competitive advantage over your competitors and change the face of your business, there’s no reason why you must not outsource your sales efforts.
But make sure your outsourcing partner knows the ins-and-outs of your industry and is aware of all your sales goals.