This model has been around for many years, under various names, and utilized by a wide spectrum of businesses from start-ups to the fortune 100.
So, why are some companies opposed to leveraging Outsourced Sales Providers (OSP) versus direct hires? Considering that many of the most successful companies outsource processes to increase the efficiency of their in-house teams. It’s likely due to the resistance of releasing control to a third party or a misconception of how they will benefit from a tiered sales team.
What processes are being assigned to agencies like Wave Representatives?
Channel Account Managers (CAM): Augmenting direct teams with additional salespeople focused on stimulating indirect Channel Partner growth and increasing sales support.
Sales Development Representatives (SDR): Instead of growing and managing a large group of inside sales agents, corporations choose to outsource these positions to high-performance agencies with optimized processes and management.
These are by far the two most popular positions being outsourced today and having a significant impact on growing revenue by improving the acquisition process from target to customer.
How could you get started?
Front of Funnel provides the easiest opportunity for companies to engage a third-party sales provider. This is where you can integrate the agency into your process, qualifying inbound marketing leads before handing them off to your direct salespeople.
The idea here is simple, the amount of time and energy required to successfully acquire a new customer is at an all-time high. This provides an opportunity to improve this front of funnel process and have incredible benefits downstream. Moving this process from revenue operations to an outside agency, can lower your customer acquisition costs by as much as 50%.
How to find the right sales partner?
The challenge is choosing an agency that will provide sales services as an extended team, not as a “lead generation or appointment setting” service.
Here are the top gotcha’s to avoid when choosing an OSP
Dedicated or Shared?
Many agencies provide shared sales resources, with the same people being assigned to multiple accounts. If you want dedicated personnel, ask them if the salespeople assigned will be working on other accounts.
White-labeled or branded?
Ask if the provider is doing the work under their brand, this can be confusing to end-user prospects.
Who has the Data?
How will data be shared between your company and theirs? When a salesperson is prospecting through shared lists, doing so within separate systems creates silos of reporting and blindspots.
New Hires or Reassigned?
While hiring a Sales Development Representative can be challenging, finding people who are a good fit for your company can take time. If the provider uses existing staff, this should be a red flag if you wanted a dedicated team.
Location, Location, Location.
If you’re looking for people to sell into North America, many of these companies will have staff exclusively offshore. Ensure where the sales team will be located if you want people working from inside the United States.
Can they scale the team?
If they’re providing shared resources, how will they scale their operations when you require additional team members? You should maintain a similar process for your outsourced sales development representatives as you would with direct hires; you can easily scale the team.
How will the salespeople be incentivized?
While it’s always the goal to obtain the lowest cost possible, you should factor in the sales development representatives into the compensation plan. How will they share in the wins of the team? We provide a commission share that lowers the monthly cost to help keep the salespeople engaged. If the client cannot share commissions, our monthly rate is higher to pay the bonuses per held meeting.
How will you communicate?
This is a major key to success; the indirect sales team will struggle unless the team can work together seamlessly. We recommend creating a slack channel for real-time communication on prospects.
Avoid Email and SMS services.
We see a lot of services that SPAM a huge number of prospects using disposable email accounts. Likewise with text messaging outreach will infuriate your prospects.
Where are they focused?
It’s important to understand where the agency focuses. Most outsourced sales providers are almost exclusively focused on SMB companies, helping marketing departments fill funnel and follow-up on inbound marketing leads.
If you’re a larger company looking to offload your more tedious sales processes, make certain you partner with a company that understands how to work with larger sales teams, complex sales cycles, and indirect sales channels.
To benefit from this service, you’ll need to choose the right provider to avoid finding yourself locked into a contract with a lead generation or appointment setting company and no better off than when you started.
Interested in Sales Outsourcing?
When a client selects Wave Representatives, we understand the current processes; how to successfully move over the functions they want to outsource to our team and optimize the process while ensuring transparency.
What does that mean? For example, when a client hires us to build out an SDR team, we survey their current prospecting process and identify gaps.
Once we gauge how we can assist the client, we provide solutions built around improving the flow from marketing to sales. This might include software recommendations, playbooks, and messaging improvements.
Once we’ve all agreed to a basic process, Wave Representatives finds the right talent for the client, handling all of the interviewing process, basic onboarding, and provisioning in their new role. Like direct hires, the company will provide email, VoIP, sales engagement platform, CRM, and internal communications.
Wave Representatives provides oversight of the new team, managing their day-to-day outreach, measuring KPI’s and coaching as needed.
Similarly, when providing dedicated Channel Account Managers (CAMs) for technology companies who sell their products through indirect sales channels, we seek the right talent and ensure their success. Our goal is to accelerate deal cycles, improve processes, and provide a professional sales experience for their partners.
CAMs are dedicated to the accounts, are completely integrated into the clients’ workflow, and utilize the same tools as direct hires, and like the Sales Development Representatives (SDRs) are for all intents and purposes, appear to be direct employees of the client, even though they’re a contractor.
If you’re interested in accelerating revenue by outsourcing sales processes you’re currently managing in-house, reach out to Wave Representatives for a free consultation.