How sales outsourcing can help increase revenue

Low conversion rates of qualified leads. Drawn out sales cycles. Lack of specialised sales knowledge. Lack of vertical industry expertise within the business. Sound familiar? Like many other businesses, you could have a sales problem.

In fact, this problem is so common that 37 percent of sales reps fail to meet their targets (CSO Insights).

If your sales reps aren't performing, you should consider using outsourced sales resources to boost sales results, exceed business performance and reduce operational costs.

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Here are the top seven ways outsourcing all or part of your sales function can increase revenue in your business.

Outperforming targets

1. Outperforming targets

By focusing solely on results, the outsourced team is dedicated to achieving the best - and that dedication results in a direct increase in your revenue.

But it’s important that you focus on the right target. The outsource team will work with you from the outset to formulate your KPIs.

Measuring your KPIs tells you whether you're operating an effective sales team. To make sure you get the right information, however, you need those indicators to be meaningful to your business.

Outsourced sales teams are experts at helping you formulate and track your KPIs. What's more, they have access to the latest in technology to do so, giving you greater insight into your customers and business. When engaging an expert external team, you'll be able to track KPIs and deals with complete visibility across each area of the sales process and business forecasting.

What matters for a business is that someone is out there pounding the pavement, the phone, and the digital platforms, getting the product into the hands of customers more cheaply and effectively than the company can do itself.

McKinsey
Can outsourcing work for your business?
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2. Tap into killer insights to build better products and services

Smart businesses are hungry for insights that will help drive improvements to products that will delight customers. Of course, getting such valuable insights is much easier said than done - capturing the appropriate volume of data and then dissecting it to create a meaningful change is a time consuming task to say the least.

Outsourced teams can connect with people more often, asking the right questions, gleaning useful objections, and then compiling valuable insights.

Insight-driven organizations are growing 8 x faster than the global GDP

Forrester 2017
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3. Be agile – test or launch new products

In the age of agile, you need to launch new things fast and either adapt them quickly, fail them fast or scale to meet demand.  

Outsourced sales teams understand that there's often no one selling solution for a company, and have the resource to implement an agile strategy. They will be ready to go when you are, and fully accountable to agreed targets to get your speed-to-market and adaptability cranking.

 

 

Shift your sales risk and accountability to the sales experts

4. Shift your sales risk and accountability to the sales experts

Around 60 percent of businesses use outsourcing as a cost-saving measure (Deloitte). Aside from this huge benefit, risk reduction is also a key output of outsourcing.

An outsourced sales team comes with specialised skills and the motivation get good results every time.

The ‘reward by results’ model used in outsourcing ensures full accountability of deliverables. They’ll stay focused on results and continually seek to optimise your sales process. 

An expert outsourced team will already have the resources to invest in the right sales tools, recruit the best talent and get the best training – so you don’t have to risk any time or extra cost investing in these yourself. 

Want to see an outsourced model in action?

Business buying group n3 were looking to rapidly expand to achieve their growth potential. However they were having challenges consistently hitting sales targets and engaging their existing customer base.

When n3, engaged outsourced sales company Leading Edge they saw a positive impact almost immediately.

Leading Edge crafted a telesales solution uniquely tailored to n3 that included:

  • Proactively generating ideas to find the right telesales pitch to measure and structure the team, as well as its incentives.

  • Changing role definitions by moving from pure selling into full account management and back again as n3’s circumstances changed.

  • Appointing a campaign specialist dedicated to driving the best outcomes for n3.

The outcome:

n3 saw gains from the beginning, including hitting 200 percent across the team. These results have allowed n3 to focus on other aspects of their business to boost growth even further, leaving the complexities of managing a strong telesales team to Leading Edge.

“Leading Edge provided a solution that enabled us to focus on our strengths, leaving the creation of an efficient, engaged and motivated telesales staff to them.” - Jeremy Howcroft, General Manager, n3.

Can outsourcing work for your business?
Reduce Cost of Sale (COS)

5. Reduce Cost of Sale (COS)

According to one estimate, the average in–house sales person’s real cost to the business is 2.6 times the person’s salary. (Ranconteur)

Worse, one in five SMEs are unable to take on new work because of cash flow restrictions. Clearly, something is not adding up here. So what can businesses do to tighten up? 

"59% of business leaders cited cost cutting as a driver in outsourcing processes. Other top factors included enabling focus on core business and solving capacity issues." (IQVIS)

What's more, under the outsourced model you'll reduce operational inefficiencies, take advantage of the best in class sales tech at a fraction of the cost and minimise overheads such as training, recruitment and compliance.

While your sales are left in the capable hands of experts, you'll get time back for you to spend in other areas of your business.

Identify opportunities for upsell and cross-sell

6. Identify opportunities for upsell and cross-sell

To build deeper, stronger relationships with your customers you have to understand them.

Understanding your customers' needs and wants through better insights will help you identify upselling and cross-selling opportunities so you can surprise and delight at every step of the buyer journey.

Account based sales teams will extract every bit of value from your current customer base – delighting them with a personal touch, influencing their purchase with added value products and services that entrench your brand even further. Those who do this create long term loyalty which always delivers money to your bottom line.

Businesses have a 60 to 70% chance of selling to an existing customer while the probability of selling to a new prospect is only 5% to 20%.

Forbes
 Save time

7. Save time

An outsourced team will focus on the sales so you don’t have to. This gives you more time to spend on other areas of your business. When you don’t have to worry about focusing your energy on the part of the business that’s outside your area of expertise, you can put more time into the places you can actually make a difference in.

Leave the selling to the experts so you can shift focus back to your core business and carry on business as usual (or better!).

If you want to develop your sales department and grow your business outsourcing might be your best solution.

Engaging a high performing external team, allows you to tap into the best experience, technology and insights in the market.

With these resources on board you'll be able to maximise revenue and achieve your goals.

Emma Leslie

Ready to get a team like us on your side? I’d love to hear from you. Make a time with me for a coffee and let’s chat.

Emma Leslie, Head of Sales and Service

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