Key Takeaways:
We’ve often heard the term outsourced sales floating around in multiple meetings within various verticals of all industries but seldom given any thought to what it is and what it can help us achieve.
But, before we dive headlong into the nitty-gritty details of sales outsourcing and its benefits, let’s take a quick look at what all topics we’ll be focusing on in this blog:
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What is sales outsourcing?
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Is outsourcing sales the right way ahead?
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7 compelling reasons to outsource sales now
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Choosing the right outsourced sales partner
Without much ado, let’s start.
What is Sales Outsourcing?
s per Wikipedia, sales outsourcing refers to the indirect sales process through which the seller sells products or services to buyers while making some profits. Outsourcing sales could include things like lead generation, handling inbound and outbound calls, market research, and more.
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 maximizing their sales revenue and minimizing investments in their sales activities.
Building in-house sales resources from the bottom up involves the 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 organizations 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.
#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.
Choosing the Right Outsourced Sales Partner to Realize Maximum Value
This is just the tip of the iceberg.
Outsourcing your sales allows your organization to leapfrog over any technology constraints being faced due to the dynamic requirements of sales reps and allows you to deepen your roots in the existing markets while enabling you to venture into new ones.
These factors are sure to pique your interest in outsourcing your sales, however, another factor necessary to keep in mind is to choose the perfect partner that understands your business’ needs and wants.
Opting for an inexperienced partner can ultimately result in redundant sales and losing your customers
This is where MarketStar comes in.
With industry experience spanning decades, MarketStar knows what your customers want, when they want it, and how they want it.
We’ve not only helped our clients maximize their revenue and deliver superior CX at every touchpoint but also enabled them to augment their revenue streams to realize steady business growth.
Through our exceptional sales wizards and a modular, as-a-service model of operations, MarketStar enables our clients to accelerate scalable revenue at every point across the customer journey.
See how we’ve done it for some of the leading organizations in the world here.
