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Startups have limited funds and resources. Often the founders themselves are responsible for generating leads, closing deals, and managing your company's marketing efforts. But as the business grows, it is increasingly difficult to keep up with the demands of these activities. That's where outsourcing comes in.
Outsourcing commercial activities, such as marketing and sales, can be a game-changer for startups - if done correctly. Here’s a case for outsourcing some of the commercial activities.
The Case For Outsourcing Marketing:
Cost-effective: Outsourcing marketing activities can save startups a lot of money in the long run. Instead of hiring an in-house marketing team, outsourcing means paying only for the services that are needed. Hiring a marketing agency or consultant on a project-by-project basis comes without having to worry about salaries, benefits, and other overhead costs. According to a study by the Chartered Institute of Marketing, the average salary for a marketing manager in the UK is £43,773 per year. However, outsourcing your marketing activities can cost as little as £1,000 per month. This can result in significant cost savings for businesses.
Expertise: Outsourcing marketing activities gives startups access to a team of professionals who have expertise in various areas of marketing. They have experience in creating effective marketing strategies, executing campaigns, and measuring their success. This means that Startup Founders can get high-quality work without having to invest time and money in training an internal team. According to a survey by Marketing Week, 61% of marketers believe that outsourcing gives them access to specialist skills and expertise that they don't have in-house. This means that outsourcing marketing activities can help create more effective campaigns, generate more leads, and increase revenue.
Flexibility: Outsourcing the marketing activities gives Founders the flexibility to scale marketing efforts up or down as needed. They can increase marketing efforts during peak seasons or slow down during off-peak periods, without having to worry about hiring or firing staff. According to a survey by the UK's Department for Business, Energy and Industrial Strategy, 59% of small and medium-sized enterprises (SMEs) in the UK have used outsourcing to improve their flexibility.
The Case For Outsourcing Sales:
Efficiency: According to a survey by HubSpot, salespeople spend only 35.2% of their time selling. The rest of their time is spent on non-selling activities such as data entry and research. This is where an outsourced sales expert comes into the picture. They will help you set up sales processes quickly allowing your sales team to focus on what is more important - closing deals and increasing revenue.
Expertise: Outsourcing some of the sales activities gives you access to a team of sales professionals who have experience in selling products or services in your industry. They have experience in handling objections, closing deals, and building relationships with customers. This means that startups can get more sales, faster, without having to hire and train a full internal sales team. According to a survey by Sales Hacker, 60% of sales leaders believe that outsourcing can help them to access specialised expertise and knowledge.
Scalability: According to a survey by the UK's Department for Business, Energy and Industrial Strategy, 60% of SMEs in the UK have used outsourcing to improve their ability to scale. Hiring, onboarding, and training take time. In some cases, for a salesperson or a sales leader, the timeline is 12 months before actual results start to show. Outsourcing some of the activities like having a part-time sales leader will speed up expanding the sales efforts into new markets, launching new products, and increasing revenue.
At Growth Squad, we help startups with full-funnel activities. What that means is helping businesses generate leads and helping them close more deals more quickly. We are a full-stack marketing agency along with sales experts helping implement the right sales processes and CRM systems.
We did a quick math on having an internal team of experts vs hiring Growth Squad. Working with Growth Squad allows our clients to save up to 70% of the cost that they would have to spent hiring, training and retaining an internal team. Our leadership team has a combined growth experience of more than 70+ years in different industries and roles - Who wouldn’t want instant access to that?
In conclusion, outsourcing commercial activities can be a great way to save time and money while getting high-quality work from experts in their field. If you're a startup founder or CEO, consider outsourcing your marketing and sales activities to take your business to the next level.