“Why should I outsource sales?”
At some point, every B2B company owner ends up pondering it. To the businesses that are about to move to a potentially new stage of their development, sales outsourcing sounds scary. The mere idea of entrusting your business information and your analytical data to a third-party company is enough for numerous what-ifs:
What if the third-party team misuses the data?
What if they create a negative image?
What if all this budgeting will go to waste?
That’s a lot to take in but as soon as you explore all the advantages and benefits of B2B sales outsourcing, you’ll see that there is nothing to fear. We are happy to guide you through core reasons for using B2B sales outsourcing, so you can make your decisions without any doubts or uncertainty.
5 reasons why you should outsource sales
So, first things first, who can benefit from B2B sales outsourcing? Well, in 2020, there is literally no company that won’t benefit from it. Ever since the COVID-19 outbreak, businesses had to switch to working remotely and rethinking their budget. For many companies, outsourcing some of their processes to third-party businesses became a way to stabilize their condition and get used to the new business climate.
Now, let’s do some myth-busting. Some people believe that only micro-businesses and small businesses can benefit from B2B sales outsourcing while large enterprises have enough resources to build strong sales-accelerating units of their own. However, the truth is, large companies still risk money whenever they’re about to explore a new market or launch a new product. The more processes they have to manage, the more careful they have to be with their finances and budget. So, compiling a super powerful sales team in a snap is not something every large business can do.
The ultimate truth is that B2B sales outsourcing is a massive system that offers an exclusive advantage to businesses of all sizes. But let’s get started with highlighting 5 solid advantages of B2B sales outsourcing.
Managing your team is harder than playing Play-Doh. Normally, you can’t just add or remove experts as soon as the project demands it. Even when the project really demands it.
Business owners have to deal with those limitations whenever they’re going through changes - whether it’s growing pains or entering a new market. Each change requires a particular set of experts with the right knowledge and experience – and lots of flexibility before the right strategy is shaped.
Quite often, in-house teams can’t offer that flexibility because they too need time and guidance to adapt to the shifts within the company. For small businesses it’s also not uncommon to have around 1-2 sales executives. In that case, business owners are uncomfortable with putting too much pressure on their employees, so they won’t get frustrated and leave you for a competitor.
Large businesses also have difficulties with scaling their teams. The bigger the company, the more complicated its structure. Frankly speaking, each large enterprise ends up being made of smaller enterprises (departments), united under a single brand. Each department needs its own fair share of financial and human resources. So, whenever a large company needs some scaling to do, there is a sharp need for a low-risk model, controlled environment, and high-class experts.
A company that is specialized in B2B sales outsourcing usually offers a large variety of project management models to offer the client the best way to control operations within their in-house and outsourced teams. In addition, clients can increase or reduce the number of experts in the outsourced team to match the needs of the ongoing projects as well as choose the people with the skillset and qualifications that they need the most, right here, right now.
The rapid growth of businesses made outsourcing possible. As companies increase in size, the complexity of their inner processes increases as well. To manage them properly, they have to modify their budget strategy. What kind of human resources do they need in their team? What kind of processes should be a constant part of the workflow? What kind of new actions should be taken?
It takes more than an interview and a probationary period to find the right sales executive for your business. You have to work with the person for a while to see how well they click with your staff and understand your unique value proposition. However, it costs around 4,000 USD to train and hire a new employee – and even more to fire that employee in case there’s no fit. Not every company’s budget is able to handle all that hiring and firing.
That where sales outsourcing comes in handy. It’s not uncommon for B2B sales outsourcing agencies to offer customized quotas to their potential customers in order to fully satisfy their needs and not put too much pressure on their budget. Even though there is no such thing as a good sales executive who doesn’t require a commission or a salary, on average, hiring an outsourced team costs you 1/4 of the in-house team.
All good relationships have to be nurtured, and nurturing takes time. However, when your business is at stake, time becomes a luxury you can’t afford. When you don’t have clients, you can’t sell. When you look for buyers (or for in-house sales executives), you don’t sell.
Therefore, combing through LinkedIn profiles is not really an option. From our experience, we can say that it takes around 3 interviews and at least 4 people to find a truly relevant professional for your in-house team. To find clients who can pay the bills, it takes an eternity.
How does B2B sales outsourcing help you avoid being stuck in this loop? When you outsource your sales to a B2B agency, you get a reliable assistant, who’ll help you pick the best experts for your perfect sales team within a week.
After this, that team takes care of lead generation and prospecting, delivering warm prospects ready for closing. Therefore, you can invest more time in perfecting your product or services to gain more competitive advantages.
In addition to cutting time on finding and gathering a B2B sales team, you also spend less time on completing your goals because you will be working with people who can familiarize themselves with your company’s needs and objectives quickly – and build synergy with your in-house employees in order to help you wrap your project up as soon as possible.
How many tools do you need to generate leads? Lots of them. If you sell to a wide range of markets, your lead research qualifiers constantly change. For example, in one case you have to pay attention to the technology that your potential buyers use while in other cases your priority is your prospects’ hiring status. That means that not only do you need many tools, you’ll also have to change them from time to time in order to receive the most relevant, most accurate data possible.
That’s just a part of the job for companies that specialize in sales outsourcing. Truly productive lead generation requires a special focus on technology and tools, starting with email validation tools and ending with CRMs for gathering prospect data and monitoring the way prospects move through a sales pipeline.
However, for businesses that try to find a balance between making and selling their product, investing in those tools can be a jarring, costly, and frustrating process.
Luckily, there is an easy way out because using B2B sales outsourcing includes access to the full set of tools used for B2B lead generation, lead nurturing, and prospecting. For example, at Belkins, we use around 50+ tools and services for data enrichment, lead generation, and lead nurturing – it allows our researches to explore each market in great detail and provide our clients with the exclusivity and precision they require.
Since B2B sales outsourcing companies pay for these tools, you get a budget-friendly opportunity to technologically enhance your B2B sales with the most up-to-date digital tools for analytics, data gathering, and data enrichment.
When your company deals with growing pains, what matters most is getting results fast. Optimizing your investments, cutting away sales channels that don’t work for you, and exploring potential marketing opportunities is detrimental to the development of your business. Since working with in-house teams requires more time and extra expenses (training, equipment, software, etc), calculating your average ROI becomes a complicated feat. However, would outsourcing your B2B sales to a third-party company magically provide excellent ROI? Of course not.
Your ROI depends on more than how much you invest and how much you expect to get. The quality of your research and the volume of data you have on your hands is also important. A good B2B sales outsourcing company can provide you with both. For instance, we never get started without exploring the client’s niche, analyzing the market of potential buyers, and even studying the performance of competitors to see how well they fare against pitfalls. Only then we can start building a viable strategy and get the wheels in motion.
So, a good company has plenty of data on the average ROI their clients can count on. This data is backed up by numerous case studies, analytics, and profits obtained by the customer database.
Therefore, with B2B sales outsourcing, you get an approximate estimate on your ROI – and support from your outsourced teams that can navigate you through all predicted and unforeseen outcomes and help you secure the results you expect.
As you can see, there are at least five answers to the question “Why should I outsource my B2B sales?”.
It will let you scale your business processes easily, without putting too much pressure on your employees, resources, or time schedule.
It will save you from unnecessary expenses because third-party sales teams are already trained professionals who integrate themselves into your workflow smoothly and build a full synergy with your teams.
When time is of an essence, B2B sales outsourcing lets you save precious weeks and even months by accelerating your roadmap and project management. Since you’ll be working with an experienced sales team, you won’t have to waste time on onboarding, training, or monitoring performance. Instead, you’ll become a part of a well-designed productive system, which supplies you with constant reports on your progress and results.
It provides you with technology that is essential to B2B lead generation and prospecting. You may acquire these tools by yourself after you took care of the top-of-mind matters, not any other way around.
It provides you with ROI. Whenever you brave into the new terrain or experience growing pains, you have to be extra careful with your investments. The main reason why working with B2B sales outsourcing provides a better ROI, is that companies that provide those services have experience with your industry. Therefore, they can provide you with more insights on the state of your potential customers and calculate how and when you’ll see ROI.
Of course, there is more to B2B sales outsourcing and to when and how companies should use it. In case you need a more detailed consultation, we’re always happy to hear you out and offer the best solution. In case you’re up for more reading and have already gone through every post in our blog, feel free to view our case studies, meet companies who have tried B2B sales outsourcing and learn what they think!
Thanks for reading and stay safe out there!