Sales is a vital part of doing business, but what’s ironic is that not every company can afford to create an in-house sales department. Some businesses don’t want to spend the money to hire a team of salespeople, or it’s simply not a part of what they do.
If your company is among those mentioned, an outsourced team may be what you need to foster growth, increase profits, and lead you closer to success. However, given the common misconceptions about hiring an outsourced sales team, you could be unsure whether this is the right move to make.
Setting the Record Straight
Control is vital in business, and it’s nice to have. We get it—the idea of letting someone else into your company to solve a problem that you could easily solve yourself can be maddening.
As such, it’s essential to understand that hiring an outsourced sales team is nothing like handing over the reins to someone else. The idea here is to let someone else do the legwork for you.
You need to find a team of salespeople who will take the lead on selling your product or service, which means that you have the chance to be the leader in other areas of your business. It’s about creating an effective relationship with an outside source you can trust to do the job in an honest, ethical manner.
This sounds like a good deal, but at what cost?
Outsourcing Sales: A Financial Burden or Advantage?
At first glance, an outsourced sales team seems expensive. For example, you might be thinking, “They’re making more than I am.”
While it’s true that you won’t be paying someone what you’d usually make, it’s important to remember that you’re still involved in the process of selling; you’re just not doing it all yourself.
When you take a step back and consider what you’re getting in return, you’ll see that the money you spend on an outsourced team will go a long way.
Here’s what you get when you team up with an outsourced sales team:
- Access to a team of salespeople who will market your business and product or service ethically and honestly.
- Sales efforts will lead to more work and more money in your pocket.
- A team of people who will sell your products or services in the local area and make you look good in the process.
- A team will sell your products or services in the local area and make you look good in the process.
How to Determine If the Price Is Right
If you’ve spent time researching the cost of hiring an outsourced sales team, you probably know that the price can vary widely. When you’re looking to hire a sales team, you need to ask yourself what you’re willing to spend and what you expect to get in return.
The pricing of an outsourced sales team will depend on the following factors:
1. The Size of Your Business
The larger your business, the more it will cost to hire an outsourced sales team. Large companies typically have resources that get them better deals than smaller companies to pay more per hour.
2. The Type of Business You’re Selling
If you’re in a business where there is a lot of competition, it will cost more for you to hire an outside sales team. For example, a business competing with other companies in the same industry will be more expensive than a business in a niche industry.
3. The Number of Hours You Need
The more hours you need, the higher your cost will be. The number of hours you need will depend on your business’s current activity level. If you’re trying to take things to the next level, you’ll need a team that can commit more hours to you.
4. Method of Payment
Most of the companies you’ll deal with for your outsourced sales team will be able to accept checks, wire transfers, and some will even accept credit cards. It will be up to you to decide what you’re comfortable with and what methods you’re willing to use to pay your sales team.
- Retainers: If you’d like to have a sales team dedicated to selling your product or service, consider paying a retainer. You’ll have a specified amount of time each month to commit to the sales team.
- Per Hour: Another option is to pay per hour, which allows you to request the number of hours you need for the sales team at a set rate. This is a more cost-effective option for you because you’re only paying for what you need.
- Per Sale: Last but not least, you can pay per sale, which is how most companies choose to do business. This allows you to be reimbursed for sales you’ve made.
If you’re paying per hour and the sales team isn’t selling much, you’re still going to pay a higher rate than you would if you were paying per sale. However, keep in mind that paying per sale can lead to questions about whether or not the sales are legitimate.
Saving on Your Investment
One of the many things that can make an outsourced sales team intimidating is that it can seem like a hefty investment – but that doesn’t necessarily mean it is. When you take a step back and consider what you’re getting in return, you’ll see that the money you spend on an outsourced team will go a long way.
Traditionally, outsourced sales teams are compared to hiring a new employee. By hiring an outsourced sales team, you’re getting the same level of service and attention as you are by hiring a new employee. So, it’s not an apples-to-apples comparison.
When you hire a new employee, you’ll be responsible for expenses like salary, benefits, and more. If you hire an employee, you’ll have to deal with things like a new 401(k), insurance, and more.
However, when you hire an outsourced team, you’re only responsible for expenses like a paycheck, which is a lot less than what you’d be paying out in salary.
There is a lot to think about when you’re trying to hire an outsourced sales team, but remember that it’s all going to be worth it in the end. You’re getting your product or service out to the people who need it and who can benefit from it.
If you’re worried about the money you’ll have to spend, consider the money you’d have to pay to get a new employee working in-house. If you’re saving money, you’re still accomplishing your goals.
Getting the most out of your business isn’t always easy, but it can be done. If you’ve been thinking about hiring a sales team to help you get ahead, now is the time to do so.
Hiring an outsourced sales team is a great idea when you take an honest look at the facts and figures. You’re getting a team you can count on to do the work for you, and you’re getting a chance to shine in other areas of your business!
If you want to boost your company’s sales, why not hire one of the best outsourced sales teams in the Philippines? Our sales development representatives at CrewBloom will help you earn more in less time. With our help, you can reduce overhead, decrease time to market, and lower your sales costs all at once. Book a call with us today!