Seven Surefire Reasons to Outsource Sales
Organizational leaders for B2B companies are often reluctant to outsource any of their sales capabilities since these disciplines are typically viewed as core competencies.
Indeed, relinquishing any degree of control over an aspect of sales can be tough, particularly when sales leaders are held accountable for hitting performance goals.
In other cases, there’s uncertainty as to whether another organization can represent the company’s brand well.
But despite these concerns, there are numerous business and operational advantages to outsourcing sales activities. For instance, companies with large, geographically dispersed markets can draw on additional salespeople through an outsourcing partnership to take advantage of opportunities in untapped regions.
In addition, savvy third-party organizations can offer best practices drawn from years of working with clients across multiple industries that can enable sales organizations to strengthen business performance.
Here are seven surefire ways that outsourcing can help sales organizations reach and even surpass their sales quotas, improve their conversion rates, tap into experienced omnichannel sales experts, and more:
- Targeting new or underserved markets. Small, midmarket, and even enterprise companies are often stretched when it comes to having the right number of salespeople to cover different territories and vertical industries. In addition, B2B companies often have hundreds of thousands of small-to-medium business (SMB) leads available to them that they’re unable to pursue due to resource constraints.
Outsourced sales resources can focus specifically on developing vertical or geographic markets that require greater attention. Meanwhile, companies can also use an outsourced sales team to test new approaches to sales and product positioning. From there, the results can be analyzed and fine-tuned before being extended to a larger base of customers and prospects.
- Leapfrogging existing technology constraints. Companies can also achieve time-to-market benefits by outsourcing to a company that has built and maintained state-of-the-art data and CRM environments. Instead of having to wait for approval from corporate IT and availability in the project pipeline to deploy sales automation, sales organizations can leverage advanced technologies honed by outsourcing partners. This allows sales leaders and their teams to focus on results instead of having to manage the complexity of orchestrating marketing automation.
Meanwhile, companies can also benefit from the use of an outsourced partner’s analytics tools. Analytics can help salespeople determine the best time to call a customer or extend an offer. In addition, analytics can help sales leaders gain a deeper understanding behind performance issues for individual salespeople and take corrective actions that can strengthen operational and business results.
- Supporting new product rollouts. One of the greatest advantages to outsourcing is that it can allow a company to use an outsourcing partner as a sandbox environment to test out new campaigns and promotions. A technology company can lean on an outsourcing partner to call customers and prospects about new products it’s testing. The tech company can then analyze the results and determine whether or not to launch the product into the market or make revisions based on feedback it has received.
In other cases, an outsourcing partner can help assess how a product is being received in the market, determine an effective price point, and evaluate what the sales cycle is going to look like for that product. That’s more effective than doing market research.
- Fostering omnichannel customer engagement. Organizations that tap into the expertise of sales reps with proven performance in digital channels such as web, chat, and social are able to strengthen their omnichannel results. For example, an outsourcing partner with digital depth can help a company determine the social media channels that are most relevant to the company’s target audience.
Meanwhile, many sales leaders are just beginning to recognize the engagement opportunities that chat can create with customers and prospects. Companies that lean on outsourced partners with proven digital engagement skills among their sales reps can achieve dramatic results in improving unit volume and Net Promoter Score (NPS) by connecting with customers who prefer to use chat.
- Gaining expertise. Leveraging a sales outsourcing boutique can enable a company to draw on best practices and lessons learned from a partner’s vast experience with other clients across multiple industries. This is extremely useful for picking up new ideas for sales techniques, especially for companies in industries that are rather insular. It’s also a great way for sales leaders to add bench strength with reps who have demonstrated experience in specific vertical industries (healthcare, financial services, technology).
- Lowering the cost of sales. Outsourcers are simply less expensive than onboarding and staffing field salespeople. Industry estimates reveal that each customer contact with an inside salesperson might cost a company $25 to $30 compared with $300 to $500 for a field salesperson, including travel expenses and company benefits. Outsourcing enables sales leaders to slash overhead costs while expanding sales coverage.
- Increasing profits and revenues. Companies can maximize all sales opportunities and increase revenue by augmenting their sales resources. This includes tapping an outsourcer that has the technological wherewithal to capitalize on customer data. Customer data and analytics can help create statistical models that can be used to identify the best customers and prospects along with developing an effective touch cadence throughout the customer lifecycle.
When examined closely, there are usually opportunities to address gaps that exist in sales performance. Sales leaders who evaluate an outsourcer’s core competencies can align that expertise with the sales organization’s greatest needs to drive improvement and amplify business results.