Is Outsourcing Sales the Right Way Ahead?
Running a thriving business is all about achieving scale, accelerating revenue, and reducing costs.
However, every organization irrespective of its vertical eventually hits its limits after exhausting all opportunities to reach new markets or improve efficiency.
This is where outsourcing all or certain sales operations can infuse new life into your organization’s growth.
Outsourcing to higher caliber professional sales teams can help you add considerable value to your company without leaving a huge dent in the budget.
With this blog, we’ll be trying to alleviate some of your doubts regarding outsourcing sales and how you can achieve that higher ROI that your organization aims to achieve.
But, before we move on to discussing the benefits of outsourcing sales, if the first question that comes to your mind is why your business needs outsourced sales, well, to sum it up, outsourced sales teams focus solely on providing quality results.
7 Significant Reasons to Outsource Sales Operations Now
By partnering with an external agency to manage either part or whole of your sales activities, you can seamlessly address seven important challenges that companies commonly seek to overcome.
#1. Cost Efficiency
For startups or companies on a growth trajectory, widening the difference between the top line and bottom line is key.
Hence, such companies must find a balance between maximising their sales revenue and minimising investments in their sales activities.
Building in-house sales resources from the bottom up involve costs of hiring and remunerating sales teams, purchasing sales technologies, as well as management costs.
Outsourcing can bring cost-efficiency by augmenting sales capabilities at fixed and affordable costs.
#2. Lack of Expertise
Even where companies have built up in-house sales teams, they may find that such teams lack familiarity or expertise in dealing with changing market conditions or cutting-edge sales technologies.
Such lack of expertise can prove costly at times when organisations urgently seek to ramp up their sales efforts.
Hiring the necessary talent or training existing reps in such situations can be time-consuming and a costly affair that companies especially the smaller ones cannot afford.
Sales outsourcing companies can provide access to top-tier talent with the necessary experience and skills.
Companies in a rapid growth phase must always be careful that they are not growing at a pace faster than their sales teams can manage.
Such rapid growth can be disastrous, leading to significant drops in customer experience.
However, outsourcing in growth phases can help cut down the risks of expansion and growth by immediately augmenting capabilities without adding on headcount.
#4. Expanded Market Range
Organizations most keenly feel the shortage of sales capabilities when expanding into new geographies or markets.
Getting up to speed in a new market can take time and resources that a company may not be able to develop immediately.
Moreover, the costs associated with a new market entry are substantial.
An outsourced sales team that already has a footprint and understands the markets or geographies that the company is interested in can help it grow its business in those markets more quickly and efficiently.
Companies also take on a lower risk of failure by using a team that has experience in those markets.
#5. Improved Focus on Core Operations
Companies do not often fail for want of a great idea. Most often, they are unable to scale up those ideas.
For companies to grow in a sustainable manner, it’s important that their focus is not divided across too many domains.
Outsourcing sales operations contributes to this process by removing the need for micro-managing sales processes.
Freed from this burden, company personnel can focus on other core operations vital for business continuity and growth.
Even within the domain of sales, outsourcing some activities, such as lead generation, allows in-house personnel to focus on the more high-touch activities, such as objection-handling.
#6. Improved Customer Satisfaction
Outsourced partners with a tested and proven sales methodology can produce better deliverables in a more consistent time frame.
While in-house sales teams in companies on a growth trajectory may find themselves stretched to meet and exceed the expectations of a growing customer base, outsourcing some sales processes can ensure that customers are provided timely and personalized interactions adhering to carefully monitored baselines.
This improves the quality of personalized customer experience leading to an increase in customer satisfaction and loyalty.
#7. Omnichannel Customer Engagement
While the pandemic forced an abrupt and comprehensive shift to remote sales technologies, McKinsey’s research shows that the future will be unambiguously omnichannel.
Thus, an equilibrium is growing between traditional interactions, remote human interactions, and digital self-serve, with preferences distributed along the median for different stages of the sales process.
Yet, most organizations are still waking up to the possibilities of newer remote sales channels such as chat, social, and messaging.
Outsourced partners can help companies increase their unit volumes and improve Net Promoter Scores by connecting with customers on a broader range of channels and touchpoints.