Your business was made to sell. Even if selling products and services is simply a means for your company to reach an end other than profit, making sales is the way you’re going to get there. Building customer relationships through sales is the best way for your company to foster both trust and loyalty with its target market. Without it, your company will suffocate and meet its demise.
Where does this leave companies that aren’t getting the efficiency they need from their sales department? There are many different reasons for a company’s sales to fall short. Perhaps your in-house sales department isn’t coming through, or maybe you’re part of a startup company that has neither a dedicated salesperson or the wherewithal to bring a qualified specialist onboard. Regardless of the reasons behind your company’s lack of sales, hiring in-house help is not the only option you have.
Outsourcing sales support has become an increasingly popular trend for companies of all sizes. Whether you need to supplement your existing sales teams to further your output or need to outsource the entirety of your sales, there are BPO companies that are capable of handling the selling while you develop new products and services. When you find the right company to partner with, there can be many advantages to outsourcing your sales support as opposed to sticking with a traditional sales team. These are the top 7 benefits your company can receive with an outsourced sales support team.
Developed Lead Generation Strategies
When developing your sales strategy, one of the critical decisions you will need to make is the approach your company will take to lead generation. There are three different types of sales representatives for your company to consider: Sales Development Representatives (SDR), Business Development Representatives (BDR), and Full-Cycle Sales Representatives (Account Executives or AE).
Sales Development Representatives focus on discovering as many leads as possible and making the determination if their products and services would meet that lead’s business needs. If an SDR believes the lead fits the business’s buyer persona, the lead is considered qualified and will be passed on to a higher level salesperson.
Business Development Representatives focus more on generating outbound leads through cold calling, cold email marketing, and making connections on networking sites like LinkedIn. Outbound lead generation is much more time intensive than the inbound lead generation handled by SDRs.
The least common form of lead generation is Full-Cycle Sales. The role is typically handled by an Account Executive or manager. While the two previously mentioned methods focus solely on generating and qualifying leads, AEs handle both the generation and qualification of leads in addition to closing sales. Due to the fact that a single person is taking care of the entire sales cycle, this form of lead generation comes at a significantly higher premium.
All three forms of lead generation will help your company generate more quality leads which can be turned into closed-wins for your company. All three forms are affordable given how much your company has to gain through implementing them, and as the industry has continued to evolve, each service has gravitated towards a flat-rate monthly cost system. If your company is in the market for lead gen services, outsourcing is a low-cost, high-reward alternative to hiring in house personnel.
In-Depth Market Experience
Let’s face it, when you’re working with an in-house sales team, they’re going to excel in targeting buyers within a specific section of the market. They might even be exceptional at cultivating sales relationships within their niche audience. But what happens when you’ve exhausted one particular sector of the market and need to expand beyond it? You’re probably going to have to search for additional sales reps who are experienced in whichever market your company wants to target.
This isn’t an issue when you decide to outsource your sales support. Companies that specialize in sales support possess the capability to obtain a larger number of sales professionals proficient in a wide variety of markets. Such companies are home to sales professionals experienced in every field. Why? Because we are in the business of serving a wide variety of businesses across a wide variety of industries. Our sales representatives work with a variety of clients across industries, so they are going to have insider knowledge on more markets than a sales rep who works for a single company. This allows us to push your company into new markets with a level of expertise that takes years to build.
Better Financial Investments
When companies begin the process of considering whether outsourcing their sales support is a step in the right direction, one of the first factors that inevitably crosses their minds is whether they can increase their return on investment. Like many business processes that can be outsourced, outsourcing sales support certainly does reduce the investment required to build a sales team while also increasing the number of sales made by your company.
There are two main areas where your company reduces its investment in sales. The first is in personnel. It goes without saying that hiring personnel is one of the most costly investments a company can make. While hiring personnel to build upon and expand core business functions is certainly a worthy investment, making the same investment in non-core functions is likely not the right direction to go. Hiring personnel for a function like sales is going to cost you tens of thousands of dollars a year per sales rep, and according to Forbes, there’s a 34% chance each sales rep you hire will be gone in a year. Those odds do not make for a wise investment.
The second area you save on is your infrastructure. By outsourcing your sales support, you transfer the cost of sales infrastructure to your new business partner. They invest in the latest sales tools so you don’t have to. Instead, you can focus your liquid capital on expanding your core processes.
Outsourcing your sales support is going to reduce the cost of sales for your company while increasing the number of sales your company generates. So if your company is looking to increase its ROI, outsourcing sales is the way to go. By outsourcing, you negate the risk of throwing thousands of dollars into the wind due to high turnover rates, and you reduce your company’s overall infrastructure costs. In short, you generate more sales with a smaller initial investment.
Increasing your company’s sales is the ultimate goal behind increasing your sales support, and as your company grows it will require an ever-increasing number of sales to sustain itself. When you are looking to increase your salesforce by outsourcing to a third party, you need to ensure that the company you partner with has the capacity to scale beside your business and accommodate your needs.
Finding an outsourcing partner capable of rapidly increasing the level of sales support it provides your company is one of the most important features to look for. Having the ability to scale the support you receive to match your business’s demands provides your business the flexibility to grow at its own pace. With a partner capable of scaling, you won’t have to hire more costly in-house sales professionals and you won’t have to worry about growth stagnation caused by a company’s inability to increase the sales force dedicated to your company. You can grow at a steady pace with the reassurance that your business partner is ready to expand your support the moment you need it.
Use Of Data-Driven Insights For Better Sales Opportunities
Sales support outsourcing isn’t only about increasing the number of sales your company makes. You can have all the closed-wins in the world, but if the majority of your sales aren’t coming from high-value repeat customers, your sales team is missing out on golden opportunities for continued growth.
Retaining your current customer base—and creating high-value customers out of them—is going to save your company money in the long run. There are multiple ways that your company can create and retain high-value customers, but none are more impactful than anticipating their wants and needs. So long as they’ve received a good customer experience, convincing existing customers to buy further into your brand is going to be easier than convincing prospective customers. However, you don’t want this to turn into a guessing game where you try to push products to every existing customer you have.
Understanding the customers using data-driven insights provides you with the information you need to find the right customers to invest your efforts in.
This is an area where ProximoCX excels. We understand the immense impact that building upon existing customer relationships will have on your company’s bottom line. This is why our experienced sales representatives are always on the lookout for opportunities to upsell and cross-sell additional products to your existing customer base. We relentlessly study your customer data to understand their wants and needs. By doing so, we are able to make appropriate product suggestions that will create high-value customers out of average customers.
Greater Level Of Accountability
In order for any business relationship to work there needs to be accountability. Businesses are held accountable by their customers and clients, employers are held accountable by government entities, and public corporations are held accountable by shareholders. For the most part, the parties involved in such relationships operate on equal footing, and each party has taken a risk entering into the partnership. Since each party has taken a risk by entering the business relationship, they each have something to lose should it fail. The same is always true of the relationship between employers and employees.
In an employment relationship, the employer holds the majority of the risk. While employees certainly stand to benefit when they perform their duties well, there is little risk involved should they hold up their end of the partnership. Outsourcing non-critical sectors of your business can help mitigate your risk and lead to greater accountability. When you enter into a business partnership with us, we have just as much to lose as you do. We’ve built our business on the fact that we provide enhanced sales results and exceptional customer experiences, and in order for us to continue operating we have to live up to that expectation.
It would be fair to ask how we ensure our employees are performing at a high level. The answer is simple. We implement tools to receive feedback on the performance of our employees. Our AI uses that feedback to show employees ways they can improve upon their performance. When you partner with ProximoCX, you can be sure that we’ll hold ourselves accountable because your success is our success.
Why Choose Proximo For Sales Support
At ProximoCX, we take our sales efforts seriously. When you partner with us, it’s in the best interests of both your company and ours that we continue generating more sales. Your success is our success. We take a data-first approach to identify and target prospects who are likely to become high-value customers over time. We take an omnichannel approach to sales in order to reach a wide variety of customers across every platform.
Our sales teams are proactive in searching for opportunities to make additional sales to existing customers. We believe that repeat customers are the backbone of every company, and finding ways to get customers to continuously buy into your brand is the best way to actively retain customers.
We offer customized support plans designed to meet your company’s sales goals and financial needs. Contact us today for a customized quote.