Healthcare | Life Science | Business Development
Marketing & Sales Outsourcing
9 minutes read..
What is MARKETING Outsourcing
Outsourcing Marketing is the art of letting marketing plans and activities managed by a third party company outside your organization. This is one of quickest, cost effective and most promising way to validate a product in new competitive market for most SMEs.
WHY
Outsourcing of Marketing activities is a proven business idea to attract more customers, generate more leads and position your product in spotlight without spending a lot of money, time and with lower risk.
WHO
Outsourcing marketing is successful business practice and have existed for very long time. Though many large companies and enterprises are using this approach already, SMEs (Small and Medium-sized Enterprises) are benefited most as they often have many limitations starting from finances to resources and mandatory success of their products or services. In most cases due to lack of ability to position in market and sell their products, even after having an innovative product or idea, they are forced to shut down unfortunately.
HOW
Depending on industry and products, your outsourcing partner needs to create specific plan for your product range or services. Strategies for these products are significantly different for different markets e.g. different country, different customer or business segments.
Key criterias:
INVESTMENT
MINIMAL as deep market research is performed, marketing material needs to be prepared and customers are approached in targeted way. Having good experience and local networks, investment is minimum with most effective outcome.
INVOLVEMENT
DEEP involvement with partner, their products and processes as we learn products in detail and our market research and strategies are shared and evaluated together with partners.
ASSOCIATION
LONG term focused, as products success is the highest priority for us.
RETURN
MAXIMUM as innovative ideas are created for marketing using marketing tools that complement and reinforce each other. It doesn’t only help selling products but also helps company positioning in competitive market and beneficial for other products.
LONG TERM BENEFIT
HIGH success rate, new product innovation as customer feedback is not only shared, it is researched thoroughly.
What is SALES Outsourcing
Sales outsourcing is an efficient and effective alternative which helps you focus on your strengths & keep costs low with faster growth in new markets.
WHY
Outsourcing of Sales activities is a proven business idea if you do not want to spend a lot of money, time and energy to validate your products to a new market for example market and position in another country to be able to sell your product or services.
WHO
Outsourcing Sales are not new business practice and have existed for very long time. Though many large companies and enterprises are using this approach, SMEs (Small and Medium-sized Enterprises) are benefited most as they often have many limitations starting from finances to resources and mandatory success of their products or services. In most cases due to lack of ability to position in market and sell their products, even after having an innovative product or revolutionary idea, they are forced to shut down unfortunately.
HOW
Depending on Industry and Products, your Outsourcing partner needs to create specific plan for your product range or services. Strategies for these products would be significantly different for different markets e.g. different country, different customer or business segments.
Benefit of SALES outsourcing on 5 criterias:
INVESTMENT
HIGH as deep market research is required, marketing material needs to be prepared and customers are approached in targeted way
INVOLVEMENT
DEEP involvement with partner, their products and processes
ASSOCIATION
LONG term focused as making products success is the highest priority for Channel Partner
RETURN
VERY HIGH as innovative ideas are created for marketing, pre-sales, and after-sales are followed thoroughly
LONG TERM BENEFIT
HIGH success rate, new product innovation as customer feedback is not only shared, it is researched thoroughly
When Marketing & SALES work together
Many studies and survey has indicated that when Marketing and Sales work together, customer is benefited with:
- Revenue growth: 20% higher
- Customer retention: 36% higher
- Sales win rate: 38% higher
Facts and myths about M&S outsourcing
Most companies think it is too expensive and many unknowns about real cost of Marketing & Sales outsourcing.
Many decisions are still guaranteed only using cold call
Though most of activities would be conducted by team who is managing the outsourced actions, with regular status meetings like weekly or monthly meetings it is always possible to get the current status as well as real progress. Ultimately reflection of hard work by team managing outsourcing activity should be reflected in increased number of leads and actual sales.