As CEO of FullFunnel, I have been blessed with a job that every hardcore sales geek dreams about. I have been fortunate enough to gain unfettered access to a very wide variety of sales programs, across a diverse set of organizations, in a relatively short period of time. During the past three years we have worked with:
I am pleased to announce FullFunnel’s acquisition of Boston-based sales agency, Mac + Lee. For nearly 20 years, Mac + Lee has delivered sales outsourcing services for clients in the Education, Technology, Healthcare, and Professional Services verticals.
Almost every aspect of a modern day business can be outsourced. Consider all the ways you rely on outsourced resources for your business already. Do you outsource legal and accounting work? What about recruiting? I’m sure you’ve outsourced shipping needs to FedEx or UPS on occasion, right? Tens of thousands of businesses rely on outsourcing to support back-end business functions and operations; and yet, it’s still hard for many business leaders to consider the benefits of outsourcing sales and marketing.
Many believe that essential functions responsible for driving revenue must be housed internally. This is a common misconception. Take logistics: Why do you choose to outsource to FedEx and UPS? Logistics is their core competency. They specialize in providing reliable shipping services with consistent results. Now, think of what it would take to build out a logistics team on your own. You’d need to purchase a fleet of trucks, then hire drivers and coordination managers. Instead, you outsource to a team of professionals who already have the experience and equipment to fulfill your objectives. It severely cuts overhead costs, and minimizes your risk of failure.
Outsourcing sales and marketing is no different.
Most organizations do not look at their sales and marketing infrastructure costs critically enough. Rather, they enter into the never-ending process of hiring, training, and replacing sales reps. This merry-go-round is even more prominent with inside sales groups, as they are generally less experienced professionals looking to build their sales acumen and establish a track record of closing new business. With the average tenure of sales reps and account executives being only 12-24 months, you should ask yourself whether you’re truly getting a return on associated spend per sales asset. How much of your hiring and training investment is going to waste due to high employee churn?
Before we get into what may happen if you outsource the inside sales function, let’s first break down what you’ll need to invest in order to maintain a robust internal sales team in comparison to outsourcing inside sales:
Historically, sales and marketing departments have operated in separate silos of an organization, and often in a somewhat contentious manner. Phrases like “the leads are weak” and “sales can’t close” come to mind. In today’s high performing organizations, however, there is very little difference between sales and marketing. Both departments have the same goal, they just focus on different stages within the sales funnel - with marketing focusing more on top of the funnel growth, and sales focusing on bottom of the funnel activities like demoing and closing. Companies that have successfully aligned marketing and sales departments continually foster this process, allowing marketers to focus on driving qualified leads, so that sales assets can focus on closing deals. The faster you acknowledge and embrace this concept, the faster your revenue trajectory will rise.
Successfully aligned marketing and sales departments closely monitor a core set of key performance indicators (KPIs) which they use to drive the growth engine. These KPIs are as follows:
Since launching FullFunnel, we’ve been on the lookout for a reporting solution that would allow us to automate our full funnel reporting. As a sales and marketing outsourcing firm, we need to be able to clearly report on marketing and sales results in a way that our internal and external stakeholders can quickly and easily comprehend.
Marketing is about putting your product in front of customers. Right? NOPE.
When you develop a marketing plan, the goal is always to guide your customer along the “funnel,” that figurative symbol of buyer readiness. There’s going to be some persuasion involved as they draw closer to the sale, but it’s really more accurate to say that marketing is about education. As a reputable and caring business, you should be motivated to comment and contribute useful information that is related to your audience’s interests, then, when it makes sense, bring the conversation back around to how you can serve them (i.e. sell to them!).
The modern business leader is empowered with more data, and in more ways than ever before. With the impending data overload, it can be difficult to discern which KPIs are most important for your sales and marketing program. Sure, they all provide some insight, but when push comes to shove, which KPI provides the clearest view into your sales and marketing performance and serves as an effective gauge of demand? The answer is Cost per opportunity (CPO). Here’s why CPO is one of the most important KPIs for any business leader.
Your business needs results-driven marketing, but what does that actually look like? What are the associated costs, talent requirements, resources, etc. of a strategy that will fit your business model? It’s necessary to map out all of those details before you can make an educated decision and get you the results you’re striving for.
If you’re strategizing for a robust and effective marketing program to help grow your business, you have two options: