While some may be hesitant to look outside of their own organization to meet quotas and fill the sales pipeline, there are many benefits that should be considered. When organizations outsource to a team of experienced professionals that are solely focused on the task at hand, business leaders can maximize their in-house teams and resources to achieve the results they desire, without limitations.
Here are five ways that outsourcing inside sales can strongly impact your bottom line.
1. Reduce Overhead Costs
Hiring, onboarding , and training an in-house sales team is expensive and time-consuming. Onboarding a new rep costs roughly three times his/her salary, on average. Outsourced inside sales firms have already invested in the end-to-end process (like hiring and onboarding) needed to develop a successful sales team, so you don’t have to. Outsourced sales firms also ensure that every team member has the training and business knowledge required to support their client’s unique needs to be able to have conversations necessary for both simple and complex B2B sales.
2. Convert More Leads to Opportunities
While not all organizations have the problem of ‘too many leads and not enough sales reps’ – for those that do, outsourcing inside sales is a no-brainer. Hiring an outsourced sales team that is already well trained and follows a high-performance sales methodology can help your organization not just convert MQLs (Marketing Qualified Leads) to SQLs (Sales Qualified Leads) faster, but also make sure nothing is left on the table.
This is possible because outsourced teams can focus on specific campaign types and refining them over time through iterative testing. This process enables the sales teams to continuously improve messaging to target profiles. The closed customer feedback loop enhances data and customer engagement, which translates to a better customer experience (and better ROI).
3. Scale Your Sales Team Quicker
If your business is growing quickly, it may be calling for a larger team of sales professionals to manage the increased demand. You have the choice of going through the recruiting process, but this is time-consuming and will eat up your profit margins. Additionally, you likely won’t see new sales reps hit their peak quota realization for two to three years.
The goal should be to maximize revenue growth opportunities while minimizing your overhead and customer acquisition costs.
By outsourcing inside sales efforts, you instantly acquire greater reach, more staffing locations, and more overall flexibility with your efforts to ensure your segments are fully covered and you’re not leaving money on the table. Additionally, if you are in the process of building an inside sales team for the next phase of growth, diversifying your staffing strategy can help you make leaps with coverage while you refine your coverage model.
When outsourcing inside sales, organizations can:
- Supply the scale.
- Deliver a data-driven, proactive customer engagement approach.
- Ensure they’re covering every lead intelligently (selling low volumes of hard-to-sell items to a significant number of customers vs. selling large volumes of a small number of popular items) to keep you growing efficiently.
4. Configure a Sales Team to Meet Your Unique Needs
Not all businesses need end-to-end sales coverage, the key is to find an outsourcer who can tap into your specific coverage needs and deliver results. Even if a business already has a mature sales conversion team but needs help to expand its coverage on MQL to SQL conversion, an outsourced solution can plug into that. If a sales team isn’t covering all lead sizes to maximize your TAM (total addressable market) coverage, outsource as an extension of your in-house sales team.
We see the highest ROI when businesses outsource an inside sales team to handle the end-to-end, cold lead to won opportunity for specific segments or campaigns. This allows in-house, specialized sales reps to focus more upstream on new opportunities.
5. Actionable Insights + Feedback Loops = Better Performance
You cannot improve what you don’t measure. An exceptional outsourced team supplies much more than just a team, they supply solid metrics that can connect to outcomes based on predetermined benchmarks and goals. Oftentimes, business leaders feel the impulse to improve sales performance through just increased activity. This natural inclination prevents organizations from seeing the full picture of their sales process and assessing what points in the sales cycle are leading to gaps in performance, missed revenue opportunities, and which KPIs (key performance indicators) matter. Many companies suffer from this because of the lack of feedback between departments, within teams, leadership, and clients.
With an outsourced sales team, they are incentivized to constantly look for campaign improvements, identifying bottlenecks in the sales process, and ensuring that they’re capturing relevant customer data. They utilize these constant feedback loops between reps, managers, and clients to ensure their customers are as successful as possible. They assess what the current state is, how to measure KPIs, where the pain points are, and provide feedback to management for suggested improvements.
Improve Your Bottom Line. Period.
Using an outsourced sales management organization can help your business scale with increased coverage of your MQLs, helping you capitalize on more revenue opportunities without the overhead and additional required resources.
At ServiceSource, we have teams of outsourcing specialists and sales experts who employ our industry-leading High-Performance Sales (HPS) methodology. We offer a holistic approach that encompasses the entire ILAER (Identify, Land, Adopt, Expand, and Renew) continuum and focuses on your business’s unique needs. Schedule a call with us today to learn how we can improve your sales processes, renewals, and revenue potential.