Generating leads or sales is one of the biggest challenges in any business. As a business manager, you probably have encountered the time-honored question why the company is not closing enough sales to help it reach its annual revenue target.
At times, you might ask this question to your sales team; however, on the receiver’s side, the feeling might not be so good, considering the modern age struggle of the industry. As the challenges continue emerging, one can find an efficient and affordable solution by outsourcing sales in a company.
However, if it’s a new term for you, then you have hundreds of questions about it. So let’s discuss the two most essential queries in today’s post: why and when to outsource sales in your business. Let’s dive into the details quickly!
What Are Outsourced Sales?
You would have come across companies saying that outsourcing sales can be the solution to your company’s problems. But how is that so? And how can it be a one-stop solution to all your problems and, at the same time, generate high streams of revenue? Let’s know.
The most prominent misleading saying in the industry that surrounds outsourcing sales is the delegation of control over your company to an external force. However, on the contrary, the opposite is seen.
With outsourced sales, one looks for outside assistance in the sales function of your business without compromising control. Your firm will not compromise on reputation instead shares some responsibilities of the sales department.
An outsourcing sales company is highly skilled and experienced in the management of your business’ sales. They are also well-informed about the industry and could provide competitive solutions to help boost your revenue.
The core purpose of the outsource sales company will be building a sales team that understands your brand value and a buyers’ persona. You can also train, hire, and manage your ideal sales team.
Why You Should Outsource Sales in Your Company
- Cost Savings
While some companies fear losing control, others will be wary of the additional costs. On the flip side, you hire an outsourced salesperson to help pump up your company’s bottom line. Here’s how:
An in-house sales team is much costlier than an outsourced one. Remember when you hire a sales representative, you are not just paying for their salary but also the extra expenditures such as benefits, travel expenses, overtime resources, etc.
Calculating such costs for one person will not hurt your pocket, but an entire sales department may hit heavier on the company’s purse. Outsourced sales companies will do all your selling at a fixed price, and you can do away with these costs easily.
But added to this is lousy hiring, turnover, training and recruitment expense, a good portion of your sales-generating activity can be outsourced to save thousands.
- Training, Onboarding, And Ramp-up
As we mentioned earlier, an outsourcing company can hire, train and manage a sales team for you. The training aspect of sales is crucial and needs more attention than you think. An item resting study hosted by TTEC showed the importance of training sales representatives in a company.
Almost 37 percent of sales representatives fail to meet their quotas because of poor training and mentoring. Meanwhile, companies that outsource sales are successful in approximately 79 percent and will allegedly reach their revenue goals more fast.
- Excellent Access To Great Talents And Resources
You can outsource your company’s sales to great and skilled people. You may have even thought that you could analyze the talent by recruiting salespeople in-house, but how much time do you think you would really need?
While you are scratching your head to get the best salespeople in your company, an outsourcing team has available resources. Their job is to get the best talents to your company without cutting a hole in the business finances.
An outsourcing sales company brings you people from all over the world, which gives your organization a chance to work with global talents.
- Flexibility
What if we told you, you can now focus on the expansion of your business and have all the time to yourself? Sounds like a dream, right? As well, with sales outsourced, you get a break from hiring, training, and managing your sales team.
Besides, outsourcing an in-house team allows you to work with free time and money. As your revenues become higher, the expenses in the company will lessen since you no longer have to spend on the time and extra cost of the in-house sales team’s trainings.
The outsourcing of sales really works efficiently for the small business owner and the large-scale company. While its role with the small business is evident, check out the next point if you own a large corporation.
- Diversification
Outsourcing is an all-in-one solution if you are looking for ways your company can expand and grow in sales and numbers. Some business organizations already have an in-house sales team of skilled and experienced individuals.
Even if your numbers are good, they could definitely improve with an outsourcing sales team by your side. By looking towards external sources for sales, you bring diversity to your company, potentially able to explore different perspectives and industry aspects important to reach annual profit goals.
With an outsourced sales team, you could work from a different region. This will enable you to expand your business and reach an audience from new areas, so you are able to rise above your local market. Simultaneously, the outsourced sales team can also work with new clients and industries that helps you grow in various sectors.
Thus, diversification reduces dependence on single products while increasing the sales pipeline. You can also assure growth in the customer base. This becomes a tool to help you avoid losing money within the shifting economy as well as disruptions in the targeted industry.
- Higher Chances of Meeting The Revenue Target
With less expense, flexibility of time, and diversification of markets, the probability of your business hitting the annual revenue goal is incredible. Moreover, companies with an in-house sales team might think why spend an additional amount when you already have your sales team?
It may sound like a waste of money. However, the outsourced sales team has years of doing this and possessing the expertise that can put your company on top. As a business owner, you are pushed by the need to hit the numbers you want; having an outsourced sales team can make you successfully reach this goal.
¿cuándo It Is The Right Time to Outsource Sales?
Now that you know why outsourced sales can benefit your business, here come some of the challenging parts. Now first and foremost very important know when it is time or your company is ready to outsource sales.
You must consult your in-house sales representatives or a follow-up team on whether your company is ready for an outsourced sales team. Inviting more problems than one can solve may also happen if your team is not trained enough.
For example, not following calls or emails and technical experience after training or demo sessions will have significant repercussions for your business. These things can jeopardize your business reputation; hence, make sure to avoid having backlashes at all costs.