In business, if you need help to expand and improve sales, revenue, customer service, product offering and brand awareness, business development should be your focus.
It acts as the thread that ties the various elements of your business together; once you have it in place, you’ll wonder how you ever functioned without it.
As we know, keeping your sales pipeline topped up is the most essential task to seeing your business sink or swim; numerous businesses end up heavily relying on their salespeople to perform the juggling act of prospecting, selling and keeping in touch with former clients. This causes an increase in employee burnout due to their time being used to handle other tasks and not in the places where they excel and are most valuable – closing sales.
How do we combat this? 2 words.
Business Development.
Companies have been known to outsource when they are looking to building their sales pipeline and scale faster; they can take advantage of the outsourced team’s extensive knowledge and reach new markets that they may not have had access to if they chose to remain with an in-house unit.
There are countless key reasons why business development can encourage positive change and growth in a business; which is why we are giving you 4 reasons as to why you should be considering outsourcing your business development in 2023.
- Generate new opportunities.
You have the opportunity to test new markets and introduce new products – without having to do any of it yourself.
Outsourcing to someone who can work smoothly and efficiently on your lead generation whilst qualifying new opportunities for you, will undoubtedly result in the highest quality leads to be entering into your pipeline.
Your outsourced business development team can work with you to establish a lead qualifying strategy and create a process to provide you with a constant flow of new opportunities.
- Become more flexible and save valuable time.
How often do you say ‘I’ll do it later’, ‘I’ll do it after this’, ‘I’ll do it tomorrow’?
It can be tough to admit, but there are likely to be tasks within your business that have been set aside and are waiting to be done ‘later’, ‘after this’, or ‘tomorrow’. The things that you will only pick back up when you have the time to commit all your attention to it.
You may have also wasted yours and your employees time by training them to fit business development tasks into their schedules, dragging them away from the job they have been brought in to do.
Both points, if dealt with correctly, can help you save time and create more flexibility in your role.
Through outsourcing, you can focus your attention on the more important matters that only you can attend to; you won’t need to use your time building training processes and KPI’s for your internal team, nor will you have to conduct the interviewing and onboarding process either.
You have a new lease of flexibility to change your sales needs and tactics as you see fit, which can help when growing new programmes and services.
In short, by outsourcing your business development, you are giving your organisation a clear and competitive advantage; your business development team will know how to get the maximum results from any job they are required to do, so you are able to keep costs down, whilst maintaining productivity and high-quality results.
- Increase customer retention and satisfaction.
Outsourcing your business development will improve your customer satisfaction.
Surprisingly, this is not a commonly known fact – but something that proves to be invaluable for companies.
It makes sense though; since your internal team will not need to be overloaded with the work of business development, they can focus on the work that they have been hired to do – customer retention.
This benefit is quite often overlooked by businesses when they start the outsourcing process; by providing your internal team with more time, they can dedicate hours to building and maintaining business relationships.
Think of it this way: you are allowing your team to do what they do best.
Happier employees mean happier clients. Happier clients means a better working business environment.
Who doesn’t want that?
- Access to experience and a complete skill set
When you begin working with your business development team, you have been given unlimited access to a team of experienced specialists who know the art of creating qualified business opportunities; the techniques, processes and tactics.
Not only that, but they can be knowledgeable in all aspects of lead generation and business development – telemarketing, inbound marketing, social media, email marketing… the list goes on.
Outsourcing means that you gain access to the skills of experts instantly; they know what works when it comes to business development and from day one, they can put their knowledge into your business and assist with your company’s success.
- Cut out the stress of recruitment and training.
In this current climate, the recruitment market isn’t plain sailing.
It’s been claimed that the talent pool is drying up, and a lack of experienced talent available has meant that companies are choosing to outsource to experts without the stress of hiring inhouse.
You can argue the toss of why would you spend money to hire and train somebody inexperienced in house, when you can pay experts to do it for you?
You don’t have to worry about sickness, annual leave and spending precious time training; the job will always be done, and it will be done well by people who know exactly what they are doing.
We’re not saying to never recruit in house again, but the benefits of outsourcing are to be extremely considered.
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There is no better time than now to start looking at the future of your business development and what you can do to constantly deliver the best results for your business and further your success.
Hear it from our own BD – Jade Lewis – and get in touch with us to find out more.
