Staying competitive in today’s market is all about closing more business, faster. Increasingly, companies are outsourcing all or a portion of their sales process to do just that. The benefits of outsourcing sales operations can be substantial.
Here are ten of our favorites:
1. Outsourcing balances costs and resources
Often the reason businesses hire an outsourced sales development team is because they need to grow.
Building an internal team can be expensive. The costs — hiring, training, salary, bonuses, and benefits — add up quickly and are often a risky investment because sales development representative (SDR) turnover can be high.
Outsourcing on the other hand, allows companies to experience all the benefits of a sales team while better managing overhead costs. For example, when outsourcing, the vendor takes on the burden of hiring, managing, and compensation. This helps companies overcome the challenges of long-term resource constraints and still expand their sales coverage to meet their goals.
2. Outsourced SDR teams provide flexibility
Another benefit of outsourced sales teams is that they’re flexible. This advantage helps fast-growing companies pivot quickly as they update their product and learn new things about their market’s needs.
Outsourced SDR teams can also be scaled up — or down — quickly to meet a company’s changing priorities or restructured to tackle more than one initiative at a time.
They can also dig into your data analytics to provide deeper understanding of your market. For example, they can execute A/B tests to determine the best time to call or which communication channel is most preferred.
3. Outsourcing can decrease time-to-market
When your company is in startup mode, time is money. Hiring an outsourced SDR team can help you get to market faster.
First, because an outsourced team’s ramp up time is generally much faster than hiring and training an internal team. And second, because many outsourced sales partners have extensive experience that allows them to reach more prospects faster than an internal sales team could – especially a new internal sales team.
Outsourced SDRs can help organizations dial-in on their messaging for specific verticals or geographic markets quickly. This expedited ramp up is really important when your product is complex or has a longer sales period.
4. Outsourcing allows you to leverage outside expertise
When you hire an outsourced SDR team, you’re getting access to a group of professionals with years of sales development experience. Because they have specialized their career, these SDRs can better handle the high pressure of early sales. Not only that, but they can also share their expertise, best practices, and lessons learned to help you put together the most efficient and effective sales process possible.
5. Outsourced sales teams can optimize your data
Outsourced sales teams provide a long list of services to growing businesses. One of them is database management. Whether you’re looking to clean up your database, enrich your records, or build a prospect list from scratch, outsourced teams can help. If you’re looking for help with your database, make sure to find a company with experience in your industry as you’ll be able to take advantage of their deep-running networks.
6. Outsourcing increases your access to technology
Did you know you get more than a team of people when you hire an outsourced sales company? You also gain access to their technology.
That means you don’t have to pay licensing fees or train anyone on how to use yours. The great thing is that most outsourced teams have experience with a number of systems, so even if you want to use yours, they’re likely experienced in it.
Plus, with such a wide breadth of knowledge, your outsourced team will be able to help you get the most value out of your current systems and assist in implementing a complete technology stack to fit your specific needs.
7. Outsourced sales solutions help your internal team focus
Always be closing. That’s the motto of any good salesperson, but it’s hard for them to do if they also have to spend time prospecting. Hiring an outsourced sales development team allows your internal sales team to focus on the close.
With a good, open-ended partnership your internal sales team will also benefit from the insights and knowledge your outsourced SDRs can pass along about each new lead. That important information can help drive critical sales conversations and get you to the sale faster.
8. Outsourced sales teams can position you for quick growth
Speaking of getting to the sale faster:, hiring an outsourced sales team can position your company for quick growth.
There are a number of partnership models in practice. Dedicated resources, for example focus getting the highest quality leads to your sales team. Velocity-based approaches, on the other hand, focus on getting as many qualified appointments as possible on your sales team’s calendar.
9. Third-party sales teams can help you build a better product
Another perk of using an outsourced sales team is that the feedback your SDRs gather from their sales conversations can be fed back to your product development team. Not only does this allow you to better understand your market’s challenges, but it also allows you to enhance your product to better solve those challenges and deliver the best customer experience possible.
10. Outsourcing lowers risk
Perhaps the biggest benefit of outsourcing sales operations is that it lowers your risk. With a fully staffed, highly targeted outsourced sales development team, you’ll get dependable performance — ensuring your pipelines are reliably full of the best quality leads.
Plus, the results you get from an outsourced sales team are often guaranteed. For example, with a pay-per-appointment model, you’ll only pay if the SDRs schedule an appointment. Some companies, such as Inside Sales Solutions, take that one step further and only charge for appointments that are kept.
At the end of the day, outsourcing prospecting, appointment setting, and follow-up will minimize the amount of downtime your in-house team experiences. With dependable performance, and fuller pipelines, they’ll always be starting their sales conversations with a warm, qualified lead.
When is outsourcing right for your business?
Choosing to outsource your sales process can be right for a lot of different reasons. Doing so can help you:
- Meet your sales quotas
- Get higher lead conversion rates
- Ramp up a particular business segment
- Connect with a specific target market
There’s just one caveat: If you’re looking to use an SDR role as a stepping stone for employees to move into a more advanced Account Executive position, outsourcing your early sales process may not make sense. In almost all other cases, outsourcing your SDR roles will turn out better for you in the end.