If you are in the mindset to grow your business, then you may be thinking about the ins-and-outs of B2B sales outsourcing. It’s not uncommon that a B2B start-up may not have the funds to hire their own full-time sales team. That’s where sales outsourcing companies come in handy.
Many start-ups decide that a sales outsourcing company is the best way to drive traffic to their product and/or service. Though it’s still an investment to use one of these outsourcing companies, it is much more affordable than having a full-time staff driving sales to your start-up.
Having a sales team in-house full-time could cost your company more than $425k per year when you factor in salaries and benefits. But, if you use B2B outsourcing, it may only cost your company $60k per year. That’s a dramatic difference! Plus, these companies specialize in sales and have worked together previously so they can easily jump in confidently to drive sales to your company and help you gain revenue.
Hiring a commission-only outsourcing company is the best way to go because they don’t make money unless you’re making money. This will motivate them to work harder and it will end up with you earning more of a profit.
With all the positives surrounding B2B sales outsourcing, it’s impossible to ignore the urge to hire a company right away. But, before you do, it’s important to know how to do it right so that you ensure your company is being taken care of.
Finding the Right Fit
When working with anyone either in-house or through outsourcing, it’s mission-critical that you find a good fit. The two parties need to be on the same page. The outsourcing company must understand your company’s product or service in order to properly represent it and drive sales to your business.
The outsourcing company must understand how your product fits into the current market and who your competition is. This will help them to create an angle to overpower the competition and snag their sales, as well. B2B outsourcing companies will also need to comprehend your target demographic and where your sales are coming from in order to target like-minded customers.
It’s vital to note that when a company is expanding, a time when B2B sales outsourcing companies are often utilized, that products may work well in some regions, but not so well in others. For example, if a company has made all their profit from sales in their home country, targeting international customers may not be the best sales strategy, unless there is a gap in the market waiting to be filled.
Design A Sales Formula
There are a few different ways to drive sales to a company and a B2B sales outsourcing company should discuss these tactics with you to discover what works best to build revenue. Some companies rely on just one method, while others dabble in a few. It’s important that you approve of the sales strategy that your outsource company is utilizing to help grow your business.
One of the most traditional methods is cold-calling, however, this can be off-putting to customers. Sales outsourcing companies also heavily rely on inbound lead generation, as well as inside sales and field sales. These all have their ups-and-downs.
The most vital thing is to find a sales formula that works for you and your company that can be easily repeated so sales become a sort of formula process.
A B2B sales outsourcing company should work to generate leads for sales. This can be done in a few different ways.
There are inbound lead generation agencies. These teams focus on content marketing, SEO, and selling on social media. There are also sourcing services that identify customers based on your ideal customer profile or your target demographic.
Cold-calling and emails are a part of an outbound lead generation agency’s job. And the sales development services offer the act of following-up with potential clients and customers.
Sealing the Deal
It may be a strange idea to outsource the ‘sealing of the deal’ to a B2B sale outsourcing company, but it can actually make for quite a smart move for your business.
With a start-up, it’s possible that your in-house sales team does not have the right skills to fully execute pitching a new product or service to a client or customer. A start-up may also not be able to travel as far and wide as a B2B sales outsourcing company that typically has availability, staff, and connections to travel farther geographically which could help in securing sales that were previously out-of-reach for your business. A B2B sales outsourcing company also has the advantage of culturally diverse teams that can help break down cultural barriers, as well as language barriers in order to sell a product and seal the deal.