The benefits of outsourcing sales and marketing for companies with £550k-£5m turnover Ministry of Innovation

The benefits of outsourcing sales and marketing for companies with £550k-£5m turnover

Smart business owners know that doing everything themselves is not always the best use of their time, or the most cost-effective or realistic thing to do. Often, utilising resources that can do a particular job better, more efficiently, with less risk, and at a lower cost makes a greater sense.

While it is fairly common to outsource some parts of a business such as accounting, book keeping, customer service, even HR business owners tend to be more reluctant when it comes to outsource their sales and marketing and these functions are perceived to be intrinsically connected with the success of the business.

For a new company – and for start-ups in particular – outsourcing your sales and marketing may at first seem a bit risky or something you believe you would rather keep internal but there are a number of solid business reasons to consider whether to outsource these functions to a trusted third party.

In fact, companies are increasingly learning that outsourcing their marketing team and their sales team can be game changing for them. More often than not, sales and marketing have a difficult time producing great results together. Somehow the two groups just understanding or respect each other. People in sales complain that marketing is providing them with leads that won’t convert, while marketers complain that sales isn’t properly working the leads they send them.

This is one good reason why the optimal solution may be outsourcing both sales and marketing to the same organization. The reason for this is simply that successful partners providing this service necessarily treat the problem of demand and revenue outsourcing as a single sale + marketing function and build teams that are required to communicate and work together within a single unified solution involving both disciplines, each with equal importance. Using a qualified external partner can produce outstanding results. Here are some of the benefits.

1. Save £££

As an early-stage start-up, every penny counts in your budget. Outsourcing sales and marketing is more cost effective than hiring a full-time team. Not to mention, the entire interviewing and recruiting process can waste a great deal of your team’s valuable time.

By outsourcing your start-up’s sales and marketing efforts, you can often get the same amount (or more) work done by an entire team of experts for a lower price than hiring those same experts. You also won’t have to worry about lengthy team discussions on whether or not a candidate is a good fit for your team and you won’t have to waste valuable time training new full-time, in-house team members so that they are entirely up to speed on your product or service.

Ultimately, if you’re trying to optimize your start-up’s limited budget, outsourcing your sales and marketing efforts can significantly reduce your overall operating costs. You’ll be able to scale your business without worrying about scaling your in-house team and taking on the additional costs that come with hiring new employees.

2. Hiring excellent sales and marketing talent is challenging

Many entrepreneurs, especially the very technical ones, have no personal experience working in sales. Building an exceptional sales and marketing team can be difficult if you don’t have experience in the field.  It’s hard to rate someone on their skill set if you have no idea what that skill set should look like. In addition, the hiring process can take significant time on its own, along with the time and infrastructure required to set up your hire for success: sales and marketing processes and methodologies, target market identification, value proposition development, sales collateral creation, sales CRM usage, website and graphics design, content writing, social media management just to name a few.

There are many moving parts that have to be organised and managed and take a significant investment. If this is not your background and you have no skill set to support it, just don’t do it. Look to outsourcing, at least as you start your journey.

3. Flexibility

An outsourced sales and marketing team is much more flexible in their engagement with you and able to move from project to project or skill set to skill set much easier than you could on your own or with a full-time in-house team. For every project, there could be a component of content writing, then a component of graphic design, then a prospect pitch meeting …the needs of businesses are fluid and your outsourced sales and marketing resources need to be fluid as well.

One of the main benefits of outsourcing your sales and marketing is to engage a specialist team to assist you with something that you are not the best at. Bringing in outsourced resources that have a proven methodology, believe in using tools to assist in tracking and managing the engagement, are responsive and can dedicate the time on a monthly basis, over and over again, while tweaking the strategy, value proposition and targets on the fly (with your consultation), can give you a real competitive advantage in the market.

4. Quickly turn inspiration into action

As a start-up you will attend lots of events and hear from many mentors and industry leaders. There will be discussions on new trends, cutting edge technologies, strategies to use, business best practices, and an endless stream of valuable information to take in. There’s no doubt that you are going to feel inspired to put a lot of these ideas into action as quickly as possible.

The reality is that, unfortunately, very often most business owners simply return to their desks without the capacity to turn all of these ideas into action. Outsourcing your sales and marketing can give you an entire team that can help you take all of these ideas and implement them quickly.

5. Show potential investors that you are serious

When you find the right partner for your start-up, you will quickly see just how much outsourcing can help you grow without the normal instabilities and setbacks start-ups often face during their initial life. Potential investors will notice this as well, and they will know that you are serious about building a lean business that allocates its team members’ time and resources wisely.

In today’s fast pacing business environment, implementing a fast and successful sales and marketing strategy during the early stages of your company set-up is a must to stand out. At the same time, it can be a daunting task to take on in-house costs in the early stages of your company. So, before you consider delaying the implementation of your strategy, or hiring another full-time employee, consider outsourcing your start-up’s sales and marketing efforts. Outsourcing enables your team to focus on what is within your expertise and can do well, all while driving your start-up forward with a solid plan to spread the word and capture your target audience.

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