Marketing Database Optimization Best Practices
ReadyContacts is a marketing database optimization company. ReadyContacts solutions help you build & maintain a highly accurate and relevant marketing database that delivers significantly improved campaign response rates for sales & marketing. ReadyContacts is the only player in the market with proprietary software solutions to build unparalleled accuracy and completeness in marketing databases.
Outsourcing Inside Sales – How Much Can You Save?
I was going through the Phone Works Inside Sales Compensation Report – Q4 2008 which got me thinking how outsourcing or contracting a solutions provider like ReadyContacts for certain areas of inside sales such as lead qualification can really help curb costs. The survey and report by Phone Works is quite comprehensive and good to go through especially if you need a benchmark to compare costs for doing some of these activities in house versus using a vendor.
I won’t advocate outsourcing everything and relying only on a vendor for all your inside sales and lead management needs but given the cost of having full time inside sales reps or executives, it’s possible to segregate some of the activities which can be done just as well by a dedicated vendor not only to save on salaries but also to use this arrangement to your advantage and focus your inside sales force on more important areas like generating appointments.
For example, the survey shows the average base salary for a telesales representative responsible for appointments to closing sales over the phone can range from $44K – $100K with an average of $65K. A sales development representative responsible for generating leads, developing the lead databases, keeping the lead pipeline full, qualifying leads to setting appointments would draw an average base salary of $54K or an average total package of 86K. It’s possible to contract activities like lead list building, phone based lead verification and lead qualification on “pay per delivery” model at a lower monthly spend than recruiting a full time tele-sales representative for these activities. However, the efficiency really kicks in once you leverage the fact that you have those activities taken care off by a third party so you can now have your internal tele-sales team focus on setting appointments or converting those leads.
Eventually, there are a lot of things to weigh out before deciding whether it would benefit the company to contract some of these activities or grow the internal team to handle them but, it’s the combination of the two working well together that we have seen work the best. So if you are wondering whether its a good time to grow your inside sales team, this is an option to start thinking about. Are you leveraging third party vendors for your inside sales? What’s your experience been?
Related posts:
- Outsourcing B2B Lead Generation – Lean Mean Marketing Machine
- Hiring A Lead Generation Team For Less Than One Persons Salary To Beat The Recession Blues
- Why Outsourcing Marketing Database Building Makes Sense
- How to Keep Your Sales Team Happy With Great B2B Business Contacts Lists
- Capture Website Visitors To Know Who Has Been Visiting – They Might Be Qualified Leads
March 5th, 2009 at 12:55 pm
[...] Tom makes (read from Mike Dampmhoux’s tweet) links back to the post I wrote yesterday titled Outsourcing Inside Sales – How Much Can You Save? which highlights how you can leverage vendors to optimize what your inside sales team delivers. Tom [...]
March 6th, 2009 at 7:09 am
[...] Neil put an intriguing blog post on Outsourcing Inside Sales – How Much Can You Save? | ReadyContacts …Here’s a quick excerptIt’s possible to contract activities like lead list building, phone based lead verification and lead qualification on “pay per delivery” model at a lower monthly spend than recruiting a full time tele-sales representative for these … [...]
November 14th, 2009 at 12:03 am
Thanks alot for the informative post!
regards
Enya tin
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March 16th, 2010 at 1:43 am
It is also safe for your business if you will leave the important work to yourself rather than relying on outsourcing. Remember that outsourcing is created to make the job faster, but not all job can be outsourced.
March 22nd, 2010 at 2:29 am
I believe outsourcing is necessary in today’s business environment to save on cost. It has become necessary to cut the corner every where to remain competitive. Outsourcing offers many advantages. For instance, outsourcing allows companies to seek out and hire the best experts for specialized work. Using outsourcing also helps companies keep more cash on hand, freeing resources for other purposes, such as capital improvements. It's also often cheaper in terms of salaries and benefits and reduces risks and costs.
Tina
April 15th, 2010 at 6:45 pm
Outsourcing has become a solid strategy for organizations looking to improve productivity and reduce costs. Today, companies are no longer asking “should we do this?” but rather, “what region makes the most sense?” Outsourcing process can let you migrate this urgent primary process to an offshore provider, and focus on the company’s core business. Outsourcing provides not only all possibilities for development closely managed by highly-qualified IT experts, but also helps to meet restricted deadlines with considerable cost cuts.
May 17th, 2010 at 2:12 am
BPO provides a viable and profitable business model for both buyers and providers of these services. The cost savings are well documented and understood. As long as the involved players continue to adjust to ever changing economic conditions and technology innovations, there is strong reason to believe that BPO services will continue to gain traction and, therefore, should be a part of the overall corporate strategy of companies wanting to increase productivity and to reduce cost.
May 17th, 2010 at 9:12 am
BPO provides a viable and profitable business model for both buyers and providers of these services. The cost savings are well documented and understood. As long as the involved players continue to adjust to ever changing economic conditions and technology innovations, there is strong reason to believe that BPO services will continue to gain traction and, therefore, should be a part of the overall corporate strategy of companies wanting to increase productivity and to reduce cost.
September 18th, 2010 at 11:25 am
The cost effectiveness of outsourcing is definitely an advantage. Being able to outsource some sales work is a great way to cut back on cost at the same time be able to retain the same amount and quality of work.
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