Written by: Curtis DeCora
Welcome back for another edition of Superior Solutions. That's not a real thing, but it could be.
How many of your are familiar with the acronym, "BPO?" BPO stands for Business Process Outsourcing. There is a reason this is a popular topic among most solopreneurs. There is also a reason mid-level sized and corporate level companies are looking at the BPO model.
[LET ME EXPLAIN]
BUSINESS PROCESS OUTSOURCING
Business Process Outsourcing, typically refers to the tasks associated with the day-to-day of a business department. When we look at accounting, there are various functions and tasks that need to be completed on a daily basis. In processing, there are checks and balances to ensure the order is processed properly in a timely manner with all proper checkpoints met to ensure "Quality Assurance." These tasks can be taken one of three ways; (1) You can AUTOMATE, (2) You can DELEGATE, and (3) You can ELIMINATE.
THE FREEDOM TRINITY
Automate: There are various platform (PaaS) and software (SaaS) solutions which afford you means to simply automate the completion of these tasks by the click of a button.
Delegate: You can delegate specific tasks to an office manager, assistant, or support employee. The challenge here is the fact that you may not have consistent work to justify an employee. So, you're paying for something that 'might' happen. Not the wisest business decision.
Eliminate: If you audit your tasks you conduct on a daily basis, you'll find that 21% of your tasks are wasteful and unnecessary. These are the tasks you simply eliminate.
Now, as previous mentioned. You can automate tasks through software or platforms. That's great. It happens almost everyday. Think of our emails, ring-less broadcasts, and social media posts. It is mass communication completed with the click of a button.
As far as elimination, you can simply stop doing those tasks and remove them from the sequence of your daily routines. More isn't always the best practice. The best way to find out if a task is wasteful is to check your to-do list, or audit your task lists associated with on-boarding a client, project fulfillment, prospecting, sales, or delivery. If the task isn't always completed - toss it!
Now, DELEGATE, this is a topic that is becoming more and more popular. This is a topic we are going to explore and display why it is important for you to consider outsourcing the sales development tasks of your business.
According to a study by Circle Research, a B2B Sales Research and Consulting Agency, 79% of a Sales Professional's day is spent prospecting. That's 79% of their day prospecting. This leaves 21% of their day in revenue producing activities.
Let me help you quantify that. Let's say you pay your sales professional a base salary of $60,000 (avg in US). 79% of $60,000 = $47,400 per year for prospecting. Now, when someone like me comes to your office and takes up 20 minutes of your time to discuss prospecting. You are going to tell me, "That's too expensive for just prospecting." Well, what is expensive is paying your sales professional $47,400 per year to prospect, when you paid him/her to generate additional revenues. That is like paying the warehouse manager to spend 79% of his time to clean up the warehouse when he could be working on logistics, deliver routes, employee workflow, inventory, and so on. Yet, you're paying him to clean 79% of the time. What a waste!
If that isn't compelling enough, let me share 3 Reasons to Outsource Your Sales Development Tasks:
I truly hope you understand the reasons to outsource your sales development tasks. These tasks are broken down on a granular level, but do show you why outsourced your sales development tasks are important. As an firm that focuses on providing lead generation services, and outsourced sales solutions - we firmly believe delivering high-level results to you and your organization are paramount. When we can save you money on your business processes, that's great. When we can also deliver warm/hot leads, and close deals with shorter sales cycles - this is where the magic happens.
While it is great to think your salaried sales team is going to consistently prospect, the fact remains, they're going to focus on the activities that produce the greatest revenues - closing deals. They're going to follow up until someone decides to buy. They're going to schedule as many meetings and demos as possible, until someone buys. However, the pipeline generation is still lacking.
This is the point where you should focus on outsourcing the prospecting to a reputable firm with capabilities of cold calling, emailing hundreds of prospects unique messages on a daily basis, sending text messages to those in meetings, and reaching out to decision makers through social media. Cold calling teams fail at an extreme rate - prospecting teams that use multi-dimensional approaches see 62% greater results in appointments and leads.
Take a quick moment, and schedule your time to speak with our Chief Strategist to see how Outsourced Sales could work for you. We have solutions to meet the needs of every business, large and small.
We hope this article has been both informative and eye opening. Should you have any questions at all, feel free to contact us with any of the methods below.
Superior Marketing Group
Curtis DeCora has helped start 61 businesses throughout the states of Wisconsin and Minnesota, as a consultant and business growth specialist. He has 10 years of B2B sales experience in the corporate and small business areas.