Wednesday, July 24, 2019
Addressing a new market is like making a tour in a place you don’t know. Then, it would be feasible to consider that your outsourced sales team plays the same role of a super-energetic and knowledgeable tour guide. Having access to local, expert wisdom can make all the difference in maximizing your business success in a new market.
1 - The Ability to Cover Lots of Ground Quickly
Time is crucially important. You need to move quickly to cover lots of ‘market ground’.
When you’re looking at a new market, time is money. You want to be able to get people on the ground right away and start selling - not spend excessive amounts of time and money ramping up your team. Your outsourced sales team can be your optimum special fast lane for business success in new market areas.
As an example, the outsourced sales team will promptly use the data at their disposal to help you target additional leads, then launch intelligent outbound calling programs and focus on getting potential clients lined up for demos and further conversations.
2 – Capitalizing on new market’s culture and reactions
A specialized local outsourced sales team will know all the nuances of the market you’re considering because they’re experts in that area.
They’ll be aware of how to approach potential clients when making a social selling connection, e.g. on LinkedIn. They’ll be able to tell you whether you’re connecting culturally with clients who are all business and don’t mind a hard sell, or if you’re more likely to resonate if you understand that your potential customers want to take things slowly and deliberately before moving forward.
The content writers and quality assurance teams on managed sales programs are there on your side as well. They’ll be familiar with the nuances of the market and able to both create content that’s compelling for clients in your focus areas, and to review and quickly catch potential issues that could arise from cultural differences in communication.
3 - Cost-Effectiveness
Similarly, launching a local outsourced sales team in a new market can help you secure high-quality sales without high price tags.
Moving your own specialized sales team members to a new market, there are costs associated with relocation to a new market, as well as overhead for office space and other essentials. Further, your team members will still need time to adapt and additional training in order to become familiar with the new market and their role in it.
If you instead hire someone locally within your new market, you must then deal with the issue of institutional knowledge. It takes time to bring someone up-to-speed on your culture and business practices. Industry estimates for training a new team member to sell successfully are around six to nine months’ worth of salary, which has to be properly placed in your budget, depending on the size of the team you’re building.
With an outsourced sales team, you will put in some initial legwork to develop a vision with your relationship manager. However, because you’ll be working with a full staff of sales professionals behind you, you’ll have strength in numbers so that you can quickly begin seeing growth in the market - all for a fraction of the cost of moving or hiring your own on-site team.
4 - The Power to Focus in your areas of your Expertise
Launching into a new market you have to make sure you can continue to fulfill your current responsibilities, while also encountering a world of new data, forecasting and market research. If those areas are your expertise, just focus there. You’ll make better decisions if getting rid-off micromanagement of personnel concerns, especially if that is an in-house set of teams that is sent to address a new market.
Bringing an outsourced sales team into the expansion project mix means you each can focus on core competencies and create synergy between your efforts. Therefore a distinct set of tasks is adequately allocated: you are managing the overall strategy, your outsourced sales partner is taking on the day-to-day tactical functions for the new market. Focusing on things that each side knows better under proper coordination the outcomes will be coming in faster, feedback will be more effectively handled, and the energy put into the project will be more pleasant and rewarding.
5- Outsourced Sales Partner may make a less stressful, more results outcome
The Sales Outsourcing journey, especially in a new market, is a business expansion quest dealing with a lot of hidden parameters to properly ponder to become successful. On the surface, building such a team everything seems like results will automatically happen, and the process will smoothly run. However, when it comes to creating a successful enterprise in a new market, working with a knowledgeable outsourced sales partner is a crucial decision to make and can help you feel a little less stressed and a little more joyful about taking on this new journey.