In today’s business world, telemarketing, email and LinkedIn prospecting are all essential components of an effective marketing strategy. They are crucial for lead generation, which helps open up your sales funnel to attract new customers and sales opportunities. Many companies are choosing to set these functions up in-house. However, setting up an in-house prospecting team can come with significant costs.
Costs of setting up an in-house team
The obvious cost to consider is wages and bonuses. You will need to offer competitive wages to attract top talent, and you may need to offer bonuses or incentives to keep your team motivated. Holiday and sick pay are also important costs to consider. You’ll need to allocate resources to cover your team’s vacation time and sick leave. This means investing in a backup plan, such as temporary staff or cross-training team members, to ensure that your sales efforts don’t suffer when team members are out. Finally, you’ll need to factor in the cost of national insurance and pension contributions. These costs can add up quickly, especially if you’re employing a large team.
Each team member will need their own desk, computer, and phone. Often overlooked, but necessary for the staff to be effective in their role is access to high-quality data and calling systems. This means investing in a customer relationship management (CRM) system, high-quality data and calling software. A system that allows for call recording and activity reporting is essential for quality and training. These systems can be costly, and you’ll need to consider the ongoing costs of licensing and the time required to onboard the team and manage the system.
Hiring and recruiting new employees also comes at a cost, whether it is the cost of getting recruitment agencies to help with this, or the opportunity cost of the recruitment process itself; time that could be better spent elsewhere. You will need to create job descriptions, post job ads, and sift through resumes to find the right candidates. Additionally, you’ll need to allocate time and resources for interviewing and screening candidates, which can be a time-consuming process.
After the initial hire comes the ongoing cost of training and management. You will need to allocate time and resources to train your team on your products and services, your target audience, and your sales techniques. Creating call structures and training materials, regular team meetings, one-on-one coaching sessions, and ongoing training are also essential to ensure that your team is performing at its best.
Outsourcing as a solution
Setting up an in-house prospecting team can come with significant costs and resource requirements. If these are concerns for your business, outsourcing may be the solution for you.
While outsourcing may seem more costly, with all the hidden costs of hiring and setting up an in-house team, it is clear that this is far from the truth. You can set aside an agreed amount for the telemarketing and prospecting project, keeping your outsourcing efforts affordable and within your budget. The level of activity can also be scaled up or down depending on the needs of the business. If the budget is a bit tighter or you would like to reduce the incoming leads for the time being, it is easy to scale down the activity and scale it up again when the time is right.
Furthermore, you will not be compromising on quality of leads or control over the project, which is what many businesses worry about when it comes to outsourcing. A good agency will become an extension of your team and give you full oversight of the entire project, giving you great measurability as well as autonomy over the entire process.
How 4Marketing can help
Here at 4Marketing, our focus is on generating qualified B2B leads for your business, to help you cut through the noise and create a competitive edge. A campaign with 4Marketing allows you to harness our industry experience to receive qualified, booked meetings and opportunities. We ensure that just like an in-house team, you will have complete control and autonomy over your campaigns with us. Our team works closely with you to understand your business, brand, and tone to ensure that our telemarketing approach aligns closely with that.
To find out more about how we can help your lead generation efforts,
reach out to us today!