While businesses develop their growth strategies, managers recognize the importance of inside sales outsourcing. In this competitive era, it is becoming crucial to get a competitive advantage over others to be a part of the competition. Inside sales outsourcing can be the secret weapon in the arsenal to accomplish the company’s revenue goals.
The conventional methods of selling goods and services have radically changed. The drastic transpose in sales follow-up is just an example of the transformation of the sales cycle. What was once considered a linear sales motion has now shifted to a process that directly dives into buyer behaviors, social influences, relevant content, genuine discussion, and data that demonstrate true results. The pace to keep up with the ever-changing trends and the complexities involved in the sales process has led the corporation to outsource the conventional in-house model to a SaaS provider.
Facts and Stats about Inside Sales Outsourcing
Based on research findings, 79% of the companies who have outsourced the sales tasks to a third-party have been able to scale their business quickly. Appointing a highly specialized inside sales team can cost you almost 10 times more than outsourcing the sales to professionals as product positioning, cold calling/email, and tapping unserved market segments needs an eye to detail and extensive experience. Also, sales outsourcing brings in more than just sales teams; data analytics, technical infrastructure, and expertise are some other benefits. Having customer data can increase the win rate by 12%.
Inside sales outsourcing can ramp-up time as you don’t need to rack your brains about developing sales strategies and training the sales staff. Outsourcing inside sales can bring in the following benefits for your business:
1. Target Underserved or New Markets
No matter if you are running a small business, operating in a mid-level market, or have an enterprise company, salespersons can stretch the workforce to cover different industries and territories. Additionally, some business leads may go untapped due to resource constraints and can cost a lot.
However, an outsourced sales team or agency can focus on developing geographical markets. In addition to this, the outsourced sales team can use proven techniques to target a new market segment or underserved markets. Product positioning plays a pivotal role in elevating a business’s sales, and experienced professionals can better understand how to do that efficiently. They will use speed analytics and advanced sales analytics to fine-tune the sales process before extending to a more extensive customer base.
2. Leapfrogging Technology Constraints
Whether you are using traditional ways or are investing in the newest technologies to expand your business, nothing will work if you don’t have the expertise and knowledge to leverage the tools. The major concern here is not about using the latest tools and technologies; it’s about getting the most out of them. Every business needs a sales professional who has specialized expertise in analytics tools and cutting-edge sales.
Companies can have ample time by opting inside sales outsourcing to someone with state-of-the-art technology environments and achieve time-to-market advantages to be one step ahead. You can use the outsourced partners’ data analytics to know about the best time to call a customer or better understand a prospect’s needs.
3. Break Out Organizational Silos
It is a fact that most of the sales teams operate in a silo and we cannot overlook this. 8 out of 10 internal sales teams don’t collaborate with other departments or even marketing teams to get optimal results. Additionally, teams don’t use a holistic approach to analyze the issues; instead, they focus on departmental tasks.
Outsourcing sales can help businesses manage the outcomes directly and adequately. External teams are trained to work cross-functionally in an organization with a focus on improving overall sales. Besides this, external teams can work on tight deadlines that can be otherwise difficult to achieve.
4. Improve Omnichannel Customer Engagement
If you tap into talented and certified sales representatives with proven performance in various digital channels like chat, social media platforms, and website, it will strengthen the omnichannel results.
Most sales leaders have started realizing the engagement opportunities that chat and messaging can develop with prospects and customers. Businesses that lean on a third-party service provider with proven digital engagement skills of sales representatives will help them achieve substantial results.
5. Lesser Cost of Sales
The comparison of having an in-house sales team vs. outsourcing the sales functions can be made easier by considering the overall cost. Onboarding and staffing the sales teams can be more expensive than outsourcing sales tasks to an external team or agency. Industry estimates reveal that having an external sales team can lower sales costs by up to 10%. Outsourcing the inside sales function will allow the sales leaders to expand sales coverage while slashing the overhead costs.
6. Dependable Performance Management and Greater Accountability
Usually, outsources are paid based on the success rate. However, the payment conditions can significantly differ depending upon the number of deals closed by the outsourcer successfully. Outsourcers are incentivized depending upon the performance to take more accountability for the sales cycle. External sales teams and agencies know how to position a product to bring forward new ideas to improve the sales results. Besides this, outsourcers should also meet contractual agreements and expectations that can take off the hassles of keeping a check on sales teams’ performance.
7. Better Performance
Adding an outsourced sales partner to help your internal team can provide an external benchmark for optimal performance that can help your business earn higher revenues. Thus, an outsourced sales organization can efficiently spur an internal sales team to ramp up the overall business operations. Suppose you need to make substantive changes to your sales strategy or require to develop a new digital marketing plan. In that case, external teams can offer innovative suggestions and proven strategies based on the practical experience that they have gained by working with other clients.
8. Leverage Data Insights to Improve Revenues and Profits
Businesses can maximize sales opportunities and increase profits by leveraging the outsourcer’s data insights platform. Customer data and analytics will help them create statistical models to identify the best prospects and potential customers. Additionally, a useful touch cadence will be developed throughout the customer’s lifecycle.
9. Outsourcing Partner Can Become an Extension of Your Brand
Collaborating with a third-party gives a substantive competitive advantage to the companies because it allows them to scale the business successfully by using resources that perfectly align with your company’s goals. Companies can add new skill sets, capabilities, and specialized expertise by adding a partner to the team who is laser-focused on customer experience. This can help businesses to deliver a hassle-free customer experience by satisfying their unique needs.
Final Verdict
By outsourcing your business’s sales functions to a leader in outsourced sales, you can empower your internal teams while ensuring optimal and consistent results. No matter if it’s entering a new market, building strong relationships with existing clients, or acquiring new customers, rapidly boosting revenue, inside sales outsourcing can be the best choice.
