5 Key Benefits of Outsourced Sales in a Post-Covid-19 World
2020 emerged as one of the most challenging years in recent years. With catastrophic health and economic challenges, the whole world looked for ways to respond and adapt.
The pandemic led businesses to revise their budgets and reimagine operations in order to manage the effects of the pandemic. A Deloitte report highlights that over 50% of companies experienced cash flow issues due to slowing sales while 22% faced problems in serving their customers.
With global competition becoming fierce, organizations must take advantage of areas where they can improve efficiency and reduce costs which will allow their workforce to focus on revenue-generating activities.
Working with an experienced outsourcing provider can enable companies to overcome productivity challenges while streamlining their operations.
Outsourcing means that businesses can scale and bring in fresh capabilities. Amid the tumultuous time, this can help organizations to infuse resilience in their operations.
Making a move towards a comeback, outsourced sales will prove to be a lifeline for many companies. In this article, we will deep dive into the benefits of outsourced sales operations for businesses looking to bounce back post-pandemic.
#1. Reduced Expenditure
Having an outsourced sales team can help businesses to create a pool of additional funds from the elimination of expenses from non-core activities. This can enable them to grow and innovate further.
An outsourced sales model will ensure that you don’t feel the need to hire or train new employees and spend your resources on onboarding them.
With a large pool of outsourced sales partners, companies can rapidly scale their workforce without increasing their overheads. This will enable employers to get the most out of their existing workforce.
#2. Be More Competitive
While the pandemic led to wide-scale disruption, the need to consistently ‘up your game’ did not take a hiatus.
Considering the changing nature of business, it has become even more vital to rethink every aspect of your operations and deliver more value to your customers.
In fact, 96% of companies who participated in a McKinsey research stated that COVID-19 forced them to transform their go-to-market models.
With outsourced sales ops, your company can have the front-row seat at the stage of emerging technologies that are introducing new methods of customer engagement. The ready access to a pool of specialized talent can help you become more nimble, flexible, and adaptable in the face of change.
#3. Tech Transformation
As you begin to reduce your expenses and become more competitive, sales outsourcing can help you access the latest technology and systems for best practices. It will lead to a digital transformation. Companies that adopt digital routes to market and sales models see five-fold revenue growth at 40% to 60% less cost.
Digital technologies are expected to grow exponentially and disruptively in the coming years. While investing in such technologies may not be a viable option for every business venture, outsourcing can definitely help them to attain this transformation.
#4. Risk Management
Risk management has gone beyond only financial risks to include supply chain, operations, safety, innovation, and sales.
Moving forward, risk management will be intrinsically tied with building long-term resilience. Business continuity and disaster recovery are other major benefits when you bring in an outsourced sales team.
Your outsourced sales provider will have the necessary infrastructure, industry-leading cybersecurity measures, and networks to help maintain continuous operations and serve customers even in times of disruption.
#5. Sales Specialization
A report highlights that the average time for SDRs is 3 to 6 months while the average tenure stands at only 14 months. This means that the continuous cycle of identifying, onboarding, and training new sales reps can be a costly affair, especially if you are an expanding venture.
An adept and experienced outsourced sales team won’t need a lengthy onboarding process to know your solution inside out. Such teams are organized into specific seller characteristics, aligned with each step in the buyer’s journey.
Adapting in the New Landscape
Businesses today face a rapidly evolving landscape with regulatory changes, continuous technological development, and the adoption of more sophisticated approaches.
Thriving in this atmosphere requires organizations to reimagine an appropriate mix of in-house and external resources.
Such a mix will work in perfect tandem to efficiently managing essential operational processes, adding visibility, transparency, and control company-wide.
For business owners and senior management, outsourced sales can give them the time to focus on key initiatives that ramp up the company’s core competencies and create a niche for themselves in their chosen market.