Outsourced Sales: Boosting Revenue and Expanding Market Reach
Very often while reading the top business magazines or articles, we see the term ’outsourced’ used very frequently. As per the simple English dictionary, the word ‘outsource’ means, to obtain any goods or service from an outside supplier. We cannot deny the fact that nowadays; more and more business companies are outsourcing a part of their business to skilled and professionally groomed professionals. The reason for this could be lack of skilled labour in the specific department of the company, maybe! But the fact states that most people do not understand the meaning of the term ‘outsourcing’ in the context of sales and marketing which are the two main components of having a good business with high profitability.
Sales outsourcing is a process of attracting increased, high volumes of sales for their products or services by using an outside third party in a business company. The company traditionally uses outsourcing companies to improve sales volumes without links to the sales teams that carry out those campaigns. The company that manages the outsourcing will generally be paid based on the results they can generate, and after that creates a mutually beneficial situation for both the client and the outsourcing company.
Sales Outsourcing-RECRUITING PARTNER:
These days, many outsourced sales companies hire a dedicated sales recruiter whose only job is to find and hire top-notch sales talent. Well, finding such great skills is not an easy job, it is rather very time and energy consuming. It is true that whenever, a business company is outsourcing to a sales company, finding a partner in recruitment is also under process. The most critical point when it comes to sales outsourcing is that they provide accountability, no matter the result of the sales and other activities. Side by side, it also represents the brand of the business company, promoting the legacy! The action and productivity of the sales are based on daily, weekly, or yearly goals as set by the client’s company.
Losing control over business?
After days of research on sales outsourcing, there is always this one doubt on people’s mind; Outsourcing sales and marketing to the sales companies, won’t that lessen the control of the business owner on his company/brand? Well, here you can expect two different answers:
First, ethically, the sales company should try and completely merge with the parent company; it should be an extension to the client’s business which is fully integrated with the rules and policies of the business company. Second, The sales company, completely overshadows the policies of the business company, and do their own thing without consultation of the owner, this may be profitable to the business, but as per context, the owner of the parent company loses control over his own business, he may or may not mind as his business is doing great in the market because of the professionalism of the sales company.
Having a new partnership can be very risky concerning the business, but good sales outsourcing means deeply connected communication and collaboration. A good outsourcing company owner knows that it is their business and no one knows better about their product or service other than them.
How to secure profits and achieve success?
The answer is pretty apparent- Sales Outsourcing! The most common solution to generate more business is to either teach the existing employs, how to function or perform multiple shifts, or to employ a dedicated sales and marketing team for the outsourced company. If in any of these two cases, the team fails to perform as per the expectations, the organization will directly suffer the losses. If a situation like this comes, the business will tend to fall despite consistent efforts.
1) Increase in sales revenue:
The data-driven analysis boosts when the business company meets professional sales and marketing experts or when the business becomes outsourced, which in turn becomes responsible for the company’s growth. Thus, by reducing the utilisation of resources and cost spent on recruiting, training, management of sales employees, the company can attract sales and profitability for itself.
2) Profits from a dedicated sales team:
As mentioned above, outsourcing a business company can affect its growth and profitability on a whole new level, having a dedicated team of professionals for sales and marketing, focuses specifically on that department, which is the backbone for any business’s revenue and returns.
3) Expanding customer’s reach:
Sales and marketing of a business after it is outsourced generates its analysis reports and numeric values of profits and loses. This evaluation on a monthly basis alarm the customers about the potential advantages and threats of investing in a business. If the company has excellent figures on its sales and marketing reports, it aims to achieve more, if the numbers are not satisfactory; it tells us about the improvement that is required to run the business in profitability.
4) Flexibility in sales cost:
The cost of sales is significantly reduced by the flexibility which is brought by the sales outsourcing. It is an arduous task to put down all the employees and bare all their expenses that too without any surety of results. But with sales outsourcing, the cost of sales reduces effectively, and the results can be monitored thereafter.
5) Benefits as per performance:
Sales and marketing are one of the lead supporting pillars of the business. Having a strong Sales team is a blessing for the business, contracting with the correct sales client can bring profits and a lot of other benefits to the outsourced company. With sales outsourcing, one person can come into partnership with the right sales service provider, with the help of whom, sales cost can be cut even more to maximise growth and profits of the organisation.
Sales outsourcing has become a unique mode of extracting sales benefits with minimum cost for any organisation/company. Because of being credible and cost reducing, this method has become very popular in the market in the past few years.
The markets are getting more and more expensive and complex day after day. The method of sales force outsourcing has proven to be beneficial for most of the business companies and is accepted worldwide for its credibility. It is a huge success as far as cost and revenues of the business companies are concerned like, United States, UK, and Germany. Because of lack of awareness and practice, this method is still undergoing a lot of evaluation and analysis based on its profitability in Asian countries, which are still struggling to grasp the full advantage of the outsourced sales.
Sales outsourcing can be a creative and resourceful option for new start-up companies, which are looking for exposure and growth in the market. Having a trustworthy sales partner who shares the same ethics and values can be a crucial weapon for the growth of the business with outsourced sales. While searching for cost reduction benefits, do not forget that time is always worth the money.
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