With the global economy stalling, outsourcing is becoming more and more popular for B2B SaaS companies and beyond.
Even the normally defiant technology sector is starting to feel the strain, despite emerging from the global pandemic in a healthier state than any other field.
This economic slowdown has injected slight panic into the tech space, with many large companies setting the tone by laying off employees.
For example, Meta has recently reduced their staff by 13%, with Mark Zuckerberg claiming he was overly optimistic after the post-pandemic tech growth.
In a message to his employees, Zuckerberg said: “At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth.
“Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too.”
“But the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected.”
So, what can technology companies do to resist this impending economic strain?
Well, one major option to consider is outsourcing.
An outsourced model can save costs, provide instant access to skilled services, increase efficiency and remove issues revolving around recruitment.
Here, we will evaluate the benefits of outsourcing your sales efforts and discuss how an agency can give your company an edge in an otherwise stagnating market.
Leverage a Ready-Built Sales Environment
Not only will outsourcing save you time, but it can significantly increase efficiency.
That’s because an outsourced sales agency can use their knowledge to advise you how to act on changes in the market and how to adjust your sales strategy to get the best results.
Furthermore, by partnering with a sales company, you will gain instant access to an abundance of technology to propel results and give you a competitive advantage.
At Excelerate360, our clients gain instant access to an advanced sales tech stack, which otherwise would cost them a significant investment, upwards from £150,000 per year.
This sales tech stack allows salespeople to quickly identify problems in your sales process and use metrics to quickly and effectively adapt for what’s needed in your market.
For example, a short lead generation campaign could recover lost top funnel pipeline and set you up to close business later in the year and hit your targets.
Outsourcing instantly removes the recruitment barrier to pair you with experienced professionals who are solely focused on your sales strategy.
Save Time, Make Money and Reduce Stress
Running a business comes with a huge amount of responsibilities.
These responsibilities may include strategy, finances, legalities, human resources, marketing and recruitment. Not to mention the day to day operations of the company.
All of these responsibilities require time, hard work and essential resources in order for your business to survive and thrive, especially at times of market uncertainty.
It also takes patience, persistence and high quality recruitment in order for you to make an adequate return on your investment.
If you’re considering outsourcing, whether that’s lead generation, consultancy or your complete sales cycle, you’re not alone!
In fact, according to YouGov (2019), 70% of B2B businesses in the UK use an outsourcing model.
By offloading laborious tasks to dedicated professionals, you give yourself the gift of time.
This newfound time gives you the flexibility to focus your efforts elsewhere, allowing you to work on the business, not in the business.
This may mean paying extra attention to your important clients, creating a new business strategy or developing new services to move your company forward.
Remove Your Recruitment Headache
With outsourced sales, you save time, you save effort and you save money on all the overheads that come with finding internal sales staff.
An outsourced sales company will take on that process for you to assemble a dedicated team, allowing you to knock off the overheads of hiring and training new staff members.
Outsourcing allows you to avoid all the limitations and hurdles that come with an employment contract.
It also allows you to remove the emotions of hiring and firing new staff, opting instead for the metric-driven approach that outsourcing provides.
Enhance Your Existing Team
Even if you already have a sales team in place, partnering with a sales agency can benefit your existing team with added expertise to positively impact your revenue.
It can also help you to segment your existing team to make tasks more manageable. If your team excels in closing, why not get help with lead generation?
If you’re already bringing in lots of qualified leads, but you want to up your conversion rate, why not outsource your inside sales process?
Outsourcing allows your team to concentrate on specific areas of the sales funnel, while sales experts will offer assistance in any areas of weakness to get you up to speed.
Outsourcing companies are flexible, meaning they are open to collaboration.
This means if you don’t want an external team to take over your whole sales process, you can let them work together with your in-house staff to transform your output and bring in more business.
Reduce Risk
The great benefit for those who choose an outsourced model is the huge reduction in risk to your company.
In an already turbulent market, mistakes with spending will be more detrimental, leaving little room for error when it comes to investment.
By instantly gaining this access to knowledge and resources the sales agency can provide, you can bypass experimentation and achieve results faster.
Partnering with a sales agency reduces trial and error and lets you take advantage of proven lead generation methods that actually work.
To ensure you find the right company to minimise your risk, investigate their website and social channels for case studies.
If the company can prove their previous successes, the chances are they will be able to repeat this feat for your business by using the same processes.
Scale Up or Scale Down with Outsourcing
One advantage to sales outsourcing compared to an internal team is you can scale up or scale down your activity as and when you require.
Often internal departments are bound by the limitations of their resource and time availability.
Outsourcing your sales team provides flexibility that is difficult to achieve for a traditional recruitment model.
Outsourcing allows you to be far more reactive and dynamic in your approach, plus you have the additional team to support you with their expertise and insight.
This flexibility is especially important during a turbulent market as it means you can react quickly should you need to reduce costs or handle rapid growth.
Expand into New Territory
Despite the economic slowdown, some technology businesses are adapting their businesses to continue their growth.
Tech firms that invested in international expansion grew more quickly than others last year, according to Business Cloud.
The research shows companies accepting payments in two or more currencies grew 13% faster than those selling only nationally.
If you’re looking to enter a new market, an outsourced sales agency is incredibly helpful for testing your new market before you jump in and commit additional time and resources.
Especially if you are trying to expand internationally and require multilingual sales people.
Once your sales team is set up, an outsourced company will then evaluate your market and conduct an internal sales assessment.
Using a proven company’s expertise means when you fully commit to entering a new market, you are well prepared, knowledgeable and properly resourced to get the best results.
Your Entire Sales Cycle, Completely Covered
“Nothing happens until somebody sells something” – Henry Ford
There are many aspects which make up a successful business, but sales are the lifeblood of any company.
That’s why leaving this side of your business to people who live and breathe sales every day can provide a huge upturn in revenue.
By leaving your sales cycle in good hands, you can focus your time and energy into managing the important day-to-day aspects of your business such as workflow.
A great outsourcing model will cover all aspects of your sales cycle as an end-to-end service.
This will include strategy and sales consulting to lead generation, inside sales, field sales and channel management.
Drive New Business Revenue or Leads
Unfortunately, the global economic downturn is showing no signs of immediate recovery.
According to the International Monetary Fund, growth is forecast to slow to 2.7% in 2023, compared with 6% in 2021.
This means technology companies should take action now to revamp their sales efforts if they want to fight against the strain.
Outsourcing sales may be the catalyst to ignite improved sales performance despite these turbulent times.
Outsourcing takes the burden of prospecting, cold calling and new business delivery away from your day-to-day responsibilities.
This helps your business to focus on the important areas to drive company-wide success.
Outsourcing sales to a specialist provider delivers you benefits beyond pipeline generation.
You can receive assistance on your entire sales cycle, all under one roof.
If more leads, more revenue and more time sounds like something your business could benefit from, fill out our contact form today.