Questions to Ask Before Outsourcing Your Sales: Part 1 of 3
Key Sales Outsourcing Considerations
Outsourcing your company's sales can improve the way you do business in several different ways, from lowering your cost of acquisition per customer to increasing your organic growth. But some companies are not sure where to start when it comes to outsourcing their sales.
The good news is, it's not terribly complicated. Any good sales outsourcing company will first spend time with you evaluating the strengths and weaknesses of your current sales approach, your position in the market, and the reasons your customers buy from you. To help you take that first step and evaluate your current sales efforts, we are sharing with you the first questions we ask potential clients when we are helping them to determine whether sales outsourcing is a good fit:
Please describe your product or service.
Of course you know exactly what your product is, but can you articulate it succinctly? What are its features and benefits? If you have multiple products, is there a particular one that you feel would be an especially good fit for outsourcing?
How do you compete? Who are your major competitors?
Whether or not you choose to hire a sales outsourcing company, these are important questions to answer. Only by knowing your major competitors and what your company's strengths and weaknesses are in relation to them can you compete effectively.
Who is your ideal customer? What do they look like?
At least as important as knowing your competitors is knowing your customers. What size of business do you target? Are there particular industries or types of industries? Where are your customers geographically? How long have they been in business? The more you know about your ideal customer, the better able you will be to sell effectively to them.
Who is most likely to make the decision regarding buying from you?
This is a further clarification of your ideal customer. When you sell something, who is making the decision to buy? If you focus on selling to small businesses, you may well be targeting the owner. Larger accounts may involve corporate purchasing or a regional headquarters decision. Especially if you sell to larger companies with more defined structures, you should identify the level (e.g. Director, C-Level, Manager-Level, etc.) and the department (e.g. Finance, Human Resources, IT, etc.), if applicable.
What is the average value of a sale? Is it a one-time purchase or a recurring purchase?
You should know how much a customer is worth, not just for the initial purchase, but over the lifetime of that customer. How much is the initial sale? Is it a one-time purchase, or does it recur on a monthly, quarterly, or yearly basis? Does the sale involve a contract? A trial period? What is the likelihood of the customer staying on after a year? After five years?
What are your goals and aspirations for growth?
If you are reading this, you probably aspire to grow your business in some capacity. How concrete are your goals? Do you want to have a certain number of reliably performing sales representatives? Enter a particular geographical area? Reach a specific sales threshold?
Whatever your company's aspirations for growth, really sitting down and answering the above questions, and setting some concrete goals will help you to know how to move forward in achieving those goals. And they are also the first questions a sales outsourcing company will ask before tailoring a program to your company's needs. Would you like to talk over your company's needs and outlook with an expert? Contact Netpique sales outsourcing today for a free consultation.