Rocket Your B2B Sales: Untapped Strategies for Explosive Growth with Outsourcing
The modern business landscape is the epitome of adaptation because consumer behavior and market dynamics keep on evolving. In any size of business, growth, and profitability are two critical metrics. So, if your business wants growth and is opting to scale your business across new markets, one of your winning strategies can be outsourcing your Business-to-Business (B2B) sales. From lead generation, customer acquisition, and account management to other sales-related activities, with B2B sales outsourcing, you can get hold of the knowledge and resources of specialized sales firms to increase revenue. And the best part is that you don’t even have to hire an internal team! In this blog, we will explore some of the untapped strategies for explosive growth with sales outsourcing and its future trends.
Reasons Why You Need B2B Sales Outsourcing
Before diving headfirst into its benefits, let’s understand what B2B sales outsourcing is.
B2B sales outsourcing is a strategic business practice where a company hires a specialized sales firm to manage their company’s sales functions. So, instead of handling all the sales internally, a company will outsource all its sales tasks, like lead generation, prospecting, closing, lead follow-up, and more. The biggest advantage of outsourcing sales is that you, as a company, don’t have to get the top talent and resources, which allows you to reduce costs, leverage expertise, gain additional tools or software, and network for other opportunities.
But is outsourcing sales relevant for a company’s growth? — This might be what you are thinking. So, let’s dissect the opportunities and benefits that sales outsourcing can bring for your company’s growth in detail:
1. Redefining Focus
B2B sales outsourcing allows you to concentrate on your core competencies. Right now, if you are even just thinking about outsourcing the sales of your business, it can be because you want the company resources and talent to be focused on the bigger picture, like market research, product development, marketing, accounts, or other important tasks. With the help of sales outsourcing, your company will be able to redefine focus, maximize the company’s resources, increase the quality of work due to fewer disruptions, and focus on important elements.
2. Saving Time and Money
Let’s see an example first. Per se, you hire a sales representative, and their salary is $65,000 per year. With benefits, commissions, and bonuses, their salary can be even more than that. Apart from that, you already have a sales team and a department manager or director who are appropriately compensated. Hence, the cost of keeping an in-house sales team certainly adds up!
Now, looking at a different scenario, let’s say you are currently handling all of the sales for your own business. Since you are micromanaging everything, you can miss calls from potential clients or other valuable billing hours.
If we compare these scenarios with B2B sales outsourcing, you can find outsourced sales services for just $500 or more per month, which is a huge cost savings on your sales processes. You can reduce your employee onboarding and training costs and optimize operational expenses into a new investment. Remember, outsourcing sales doesn’t mean outsourcing the entire process! You can outsource where you’ll get the most significant return on investment (ROI).
3. Accessing Scalable Sales Expertise
What about the outsourced sales team expertise? Will they be able to handle your sales process successfully and generate leads? These are very reasonable and logical questions to ask. If you are outsourcing your sales process to just any other firm, then stop right there. You are wasting your time and money.
Although the outsourced sales team already has a better idea of the market than you, they can easily dig into what your customers are looking for, their pain points, and so on. But if you are outsourcing, do it the right way and hire the right specialized external sales team who:
- Have a process-driven approach that drives sales and revenue. For example, Sales Focus Inc., a global leader in B2B sales outsourcing, has its own proven SOLD™ process.
- Gets leads and makes sales.
- Also, protect your brand while doing the sales.
- Has experience handling businesses of every size and in every industry.
If you hire the right sales experts, they will efficiently get 3 things done: client acquisition, revenue growth, and brand protection. Plus, you don’t even have to experience the potential HR headaches like hiring, training, firing, etc. In this way, you can access sales expertise at a certain cost.
4. Eliminate the In-House Sales Team Management Challenge
An in-house sales team comes with many management challenges, such as not being able to adapt to shifts, employees feeling immense pressure to meet the goals, and, eventually, turnover. So, if you outsource your sales, the outsourcing provider will take care of everything since the sourced sales team is aware and ready to handle shifts in a company. If you are scaling up or down, you can go ahead because your external sales team will quickly adapt to the fluctuations of your business.
Relationship between B2B Sales Outsourcing and Your Business Growth
To help you chew on the idea of outsourcing your sales for your business, let’s go through this once again, but this time, let’s keep your business growth at the center.
Sales impact the growth of a business. If your company decides to outsource the sales function, your business can capitalize on the expertise and resources of a specialized sales firm. This accumulation of correct expertise will impact your company’s bottom line the most. Let’s see this happening in the process:
- You hire an expert sales firm to leverage knowledge, skills, and tools to generate leads and drive sales growth.
- The specialized sales team will acquire new customers and manage accounts effectively.
- Alongside, your business will focus its core competencies on developing products, improving service, and enhancing the customer experience.
- Similarly, an outsourced sales team will have the flexibility to adapt as per the market trends and customer choices. Hence, their core focus will fully be on leveraging the latest sales techniques, technologies, and trends.
- All of these efforts, consecutively, will improve product quality and customer satisfaction and help your business gain a competitive edge.
Hence, your business will ultimately grow!
What Sized-Companies Do Benefit From Outsourcing their B2B Sales?
Any business of any size can benefit from outsourcing its B2B sales. Your business is ready to outsource sales if it meets these factors:
- Lack of the time, manpower, resources, or experience to manage sales internally
- Are entering a new market and don’t have the funds to recruit and keep a strong sales staff
- Are you promoting a new product or service
- Want to scale quickly
- Need to increase revenue
- Want to grow from a small business model to an enterprise business model
- Are overloaded or experiencing rapid growth
- Are you in a cutthroat industry where a lost lead gives your rival a new client
Untapped Strategies for Explosive Growth Through B2B Sales Outsourcing
Today, big and well-known industries outsource their B2B sales. We are talking about companies like Microsoft, Procter & Gamble, LinkedIn, IBM, Pfizer, Verizon, HubSpot, etc. From their cases and experience, let’s look at some of the untapped B2B sales outsourcing strategies for your business’s explosive growth:
1. Implement a Data-Driven Approach
The outsourced sales team can collect and analyze customer data and turn it into actionable insights. By employing data-driven sales techniques, it will allow your business to improve sales efficiency and increase revenue vastly.
Benefits of a Data-Driven Approach
- Increased Lead Generation: The analysis of customer data can help identify market trends and target new leads effectively. By employing data-driven sales strategies, companies can penetrate new markets and reach potential customers they could otherwise miss.
- Improved Sales Performance: Sales reps supplied by outsourcing providers are well-versed in utilizing data to boost sales performance. They can identify pain points in the sales cycle and make data-backed decisions to overcome obstacles.
Tips for Implementing a Data-Driven Approach
- Identify Key Performance Indicators (KPIs): Set specific, measurable KPIs to monitor the success of your sales initiatives.
- Set Clear Objectives: Outline your target market segments and revenue goals so the outsourcing provider can align their efforts accordingly.
2. Develop a Collaborative Sales Culture
A collaborative sales culture is the cornerstone of a successful outsourcing partnership. It lays the foundation for shared goals and communication between your in-house and outsourced teams.
Benefits of a Collaborative Sales Culture
- Increased Brainpower: Pooling the resources and expertise of both your in-house and outsourced sales teams can lead to new ideas and a more comprehensive approach to sales.
- Improved Customer Service: Outsourced sales reps often specialize in specific subsets of the sales process, such as lead generation, appointment setting, customer service, or closing deals. They often have experience in project management, call center software, and sales engagement tools. Their expertise, paired with your in-house team’s knowledge, can lead to even better customer service
Tips for Building a Collaborative Sales Culture
- Foster Open Communication: Encourage transparency and open dialogue between your in-house and outsourced teams to facilitate feedback and improvements.
- Align Goals and Objectives: Set mutual goals that both your in-house team and outsourcing provider can work towards.
3. Optimize Your Sales Technology Stack
Your outsourcing sales partners will always have access to the latest technology and sales tools that elevate your sales efforts.
Benefits of an Optimized Sales Technology Stack
- Increased Efficiency: The right sales technology stack can streamline administrative tasks and lead nurturing, allowing reps to spend more time on core sales activities.
- Improved Decision Making: Advanced analytics and reporting tools provide valuable consumer behavior and preference data to make new growth strategies.
Tips for Optimizing Your Sales Technology Stack
- Assess Your Current Tools: Determine which tools are helping versus hindering your sales process and make changes accordingly.
- Consult Your Outsourcing Provider: Collaborate with your provider to find the right tools for your specific sales requirements.
Actionable Tips for Successful B2B Sales Outsourcing
Here are some actionable tips if you want to outsource your sales successfully:
- Identify your sales goals: Define clear goals and KPIs for your sales partnership.
- Ask for regular progress updates: Communicate consistently with your outsourced provider and establish regular progress updates.
- Train the outsourced sales team: Always communicate with your outsourced sales team about your products or services, value proposition, and company culture.
- Monitor progress: Assess and iterate on the partnership as needed for ongoing growth and improvement.
- Adapt and Improve: As your outsourcing strategy progresses, be open to adapting and making improvements to ensure ongoing growth in your B2B sales.
Future Trends & Challenges in Implementing B2B Sales Outsourcing Strategies
‘The Future is Tech!’ — Technology is advancing at rocket speed, transforming the way businesses operate. Hence, the future trends regarding B2B sales outsourcing are leveraging advanced sales technologies, such as AI, machine learning, and predictive analytics. By doing so, your business can identify prime opportunities and deliver engaging, personalized content to your target audience, resulting in increased overall sales efficiency and effectiveness.
Another such trend is focusing on the customer experience. During sales, you must provide personalized service to customers by leveraging data and analytics to understand customer preferences. Here’s how you can do it:
- Set your course for sales success by maintaining open communication with your audience, ensuring they feel valued and understood.
- Collaborate with your outsourcing partner to enhance every customer interaction and make a lasting impression that keeps them coming back for more.
Potential Challenges You Can Face During B2B Sales Outsourcing
Until now, we have just explored the good sides of sales outsourcing. So, here are some of the potential challenges that you are set to face during this transition. We have also listed some of the actionable solutions:
Challenge 1: Finding the right service provider
To overcome this challenge, here’s what you can do:
- Conduct thorough research and assess the service provider.
- Seek recommendations.
- Interview potential providers and see if they suit your business needs and long-term goals.
Challenge 2: Managing the relationship with the service provider
To overcome this challenge, here’s what you can do:
- Establish clear communication channels.
- Set up regular meetings and ask for updates.
- Provide constructive feedback.
Challenge 3: Challenges during transitioning from an in-house sales team to an outsourced one
To overcome this challenge, here’s what you can do:
- Develop a comprehensive transition plan and communicate that in-house.
- Encourage the internal team to view this change as an opportunity to focus on other essential tasks, boosting productivity and overall business growth.
- Provide comprehensive training about the company to the outsourced sales team.
- Ensure the continuity of sales operations.
With careful planning, preparation, and foresight, your business can overcome these obstacles and secure a successful venture into the outsourcing universe.
Outsource Your B2B Sales Outreach Today!
All in all, outsourcing your B2B sales helps to reduce costs, expand your sales network, and generate more revenue for your business. Your business will also be able to tap into the network and global reach of an existing sales firm without even hiring any talent in-house.
You can get a range of sales services from your outsourced partner, like cold calling, lead generation, appointment setting, and more. All to streamline your sales operations and reduce costs for your business.
Ready to outsource your B2B lead generation and sales? Let us know!