Today’s successful businesses all have one thing in common: they’re constantly innovating and streamlining to narrow their focus. This means that many modern companies are choosing to outsource accessory functions. Two of the most common areas to outsource are within sales and marketing. There are a host of benefits to outsourcing sales and marketing, and there is no better time to do it than now.
Why Businesses Outsource
There are a number of reasons why businesses choose to outsource. In general, it leads to higher profits and streamlined processes. But let’s delve into the specifics.
One of the best ways to grow your business is to focus your resources on the things that make money and reduce time-intensive tasks. When you outsource, you free up the time and talent of the professionals who are integral to your business core and hand it over to professionals in their own field. This means that each business function is being performed by an expert. Your homebase is best utilized on product development, networking, strategic thinking, and expansion.
Increase Access to Top Resources
It is impossible for most businesses to outfit every department with top-of-the-line equipment. With outsourcing, you get the very best resources that the industry has to offer. Bringing everything inhouse can be a major money pit. It can cost far more than it is worth to purchase, maintain, and upgrade equipment that is not specific to your business.
Minimize Negative Effects of Staff Turnover
Every business owner knows the hassle inherent in staff turnover. The wider your range of function is, the heavier this load is to carry. This is because of the increased potential for turnover, the greater variety of positions to train, and the fallout that occurs to the line of in-house employees with each turnover. Furthermore, hiring and training use up a vast amount of time and money.
See Things More Clearly
Sometimes, the most difficult problems to solve are the ones we are the closest to. This is especially true with sales and marketing. It can be challenging to see the best ways forward when you are emotionally vested in an outcome. When you outsource external functions, you receive a professional opinion and a fresh set of eyes.
Expand Into Global Markets
One of the biggest challenges to new businesses is global expansion. Going global involves time-intensive data gathering, complicated legal processes, and a deep understanding of cultural differences. With an outsourced sales and marketing force, this homework has already been completed by trained professionals.
Benefits for Outsourcing for Small Business
Outsourcing is especially beneficial for small businesses. Small businesses are generally highly specified. This means that your team tends to be smaller and more focused. Outsourcing allows small businesses to focus resources on key functions and avoid the necessity to significantly grow a full-time team. It also allows you to use your capital on money-making investments, rather than labor-intensive appendages. Furthermore, outsourcing allows you to initiate new products more quickly, reduce risk, and save money on equipment.
Benefits of Outsourcing for Large Businesses
Many of the world’s largest companies take advantage of the many benefits of outsourcing. This is part of the modern philosophy that everyone should do what they are best at. While a large company might have the resources to outfit each business function with state-of-the-art equipment and the best talent, it is generally not financially advantageous to do so. A big business will be able to outsource for cheaper than they could fund the additional department inhouse. You can grow more quickly when you outsource, because you are not required to hire and train as many new employees to support the growth. Finally, with outsourcing, you won’t need to compete with large sales and marketing firms to hire the best talent. Larger firms are better able to attract top talent, and you will be able to utilize their skills without having to compete.
How Current Digital Tools Improve Outsourcing Capabilities
With today’s digital tools, outsourcing is far easier than ever before. In the past, communication was done over the phone and services were exchanged in person. Today, a brick-and-mortar storefront isn’t even required for many of the most common outsourcing functions to be performed. Information can be shared digitally, which means that your team can be extended to remote workers and off-shore facilities. There are a variety of effective tools that can be used to facilitate remote outsourcing. These tools can improve face-to-face communication, increase your internet speed, store and share files, allow for long-distance editing of files, track important data, and assign tasks.
Talent Base of the Philippines
When considering offshore outsourcing, the Philippines is an excellent choice. This beautiful part of the world is home to modern, state-of-the-art facilities, professional staff, and it boasts a high staff retention rate. Furthermore, the labor in the Philippines is about half the cost of that in the United States. One of the greatest difficulties about offshore outsourcing is the language barrier, but English is an official language of the Philippines. The demographics of the Philippines are ideal for finding new talent, with a relatively young average age that has grown up surrounded by technology. Additionally, outsourcing in the Philippines offers a very low risk when it comes to legal complexities and liabilities, offering exceptional legal support. Even more, people in the Philippines are very familiar with Western Culture, which allows for a strong cultural bridge. Another asset to outsourcing in the Philippines is the high level of governmental support given to Filipino nationals with foreign-based work. Finally, outsourcing to the Philippines provides a high quality of life for Filipinos, especially when compared to many other common outsourcing destinations.
If you want to save money, streamline processes, and grow your business, it is definitely time to outsource. Few things can improve your bottom-line like outsourcing. Finally, be sure to consider the Philippines for all your outsourcing needs.