The startup industry is booming in the US. The country is the global leader, with an estimated 75,640 startups. The B2B segment is the forerunner because 61% of the world’s startups are in the B2B domain. The numbers are inspiring for budding entrepreneurs looking to join the B2B bandwagon.
However, only 40% of new ventures actually turn a profit, and about 90% of them fail. The fate of your startup depends on several early decisions, and outsourcing expertise is one of them.
Growing a sales pipeline is perhaps the trickiest part of B2B operations. A HubSpot survey reports that 19% of B2B marketers consider traffic and lead generation the biggest struggles. Undoubtedly, these processes make good candidates for outsourcing.
When it comes to lead generation, telemarketing remains one of the top strategies in the B2B segment, despite the growing popularity of digital outreach. As a business owner, you cannot undermine the value of direct conversations with business decision-makers when selling your offerings.
That’s the best way to show them the value of your offering and build trust. But hiring an in-house team for the job may not be the best decision for B2B startups. Let us explain how outsourcing expertise can help your young startup thrive.
Cut Back Lead Generation Costs
Statistics suggest that most startups (38%) fail because they run out of cash or are unable to raise new capital down the road. High operational costs can be a reason for startup failure in the initial phase. The outsourcing model can be a real savior.
Teaming with a provider to handle your B2B telemarketing process can help you save a fortune. It is far more affordable than hiring, training, and retaining an in-house team. You can save up on tools and infrastructure and scale your operations according to the evolving needs of your startup.
According to Blue Valley Marketing, entrepreneurs should opt for providers offering services such as inbound and outbound telemarketing for diverse objectives. They should cover areas such as market analysis, lead generation, event registration, surveys, and database updating. That’s a lot of heavy lifting simplified for startups, which means they can focus on growth-critical tasks.
Telemarketing is more than hard skills and tools. It requires excellent communication skills, specifically when it comes to selling high-value B2B offerings to business leaders and C-suite decision-makers. You must have a strong team of telemarketers on board to convince buyers about the value of your offering and close deals.
With an outsourcing partner, you get the advantage of a highly-skilled workforce with broad expertise and diverse experience. These professionals are trained and well-versed with the latest tools, technologies, and trends in the industry. They are also highly committed to driving the best results for their clients.
Startups should spend their dollars wisely because they often run on shoestring budgets. There is no room for wastage, and ROI tracking is the key to maximizing results. Outsourcing B2B telemarketing enables you to track and monitor ROI from the outset. You can keep a close eye on metrics such as potential leads and conversion rates to get a clear view of campaigns.
With a transparent picture, you can identify the areas requiring improvement and quickly adapt your strategy accordingly. The approach enables you to find the sweet spot and create a winning strategy that delivers greater sales and loyal customers. Not to mention, transparency breeds trust as you can see the real-time performance of your telemarketing partner.
Consistent Brand Representation
Brand building is the mainstay of a B2B startup’s success, but it is easier said than done for a new business struggling to stand out in a competitive landscape. You need to go a long way to compete with established players and ensure your target audience recognizes your business in the crowd. A telemarketing outsourcing partner can help you with consistent brand representation.
They have the right expertise to create an organized strategy that determines how your brand is represented in the business domain. A structured framework creates a unique identity that defines your vision and values. Your customers will likely perceive your startup as a professional business.
Additionally, outsourced telemarketing empowers you with proper methods for scheduling client follow-ups and addressing questions with a broad knowledge of your customers and brand.
The Final Word
Outsourcing B2B telemarketing is a wise decision for a startup trying to stay afloat amid financial constraints. But it is more than a cost-effective way of getting leads for your business. You can get many more advantages, such as broad expertise with a skilled workforce, ROI tracking, and consistent branding. It’s a win-win approach, provided you find a reliable partner for handling the process effectively.