With an emerging breed of consumers demanding dialogue from businesses and insisting on greater organizational transparency and accountability, image and reputation management for organizations has become harder than ever. It is like having millions of eyes watching over your business and a thousand mouths asserting involvement in the communication process. The challenge now is how organizations establish and sustain a positive and strong brand and corporate reputation in the Internet Age.
Category Archive: Technology
A company´s sales organization is constantly challenged with the search for new potential customers, their conversion to actual buying customers and the maintenance of the existing customer base. Each of these aspects of the sales process are distinct and requires the investment of time and company resources. An organization can implement a strategy of totally “inhouse” or a mixed strategy where portions of the sales process are outsourced to third-party providers. The former strategy offers high control of the sales process, with inherent high costs of personnel given the trend of US Federal government imposed higher regulations and taxes. The latter strategy, in contrast, reduces control of the sales process, leveraging a balance of costs versus benefits related to the cost of acquiring new buying customers. Let us discuss this further.
The majority of US companies have less than twenty-five (25) employees. These small companies are the primary source of new job growth in the US, not Fortune 500 companies. More than 50% of such companies fail within five years for a variety of reasons. Such companies are generally challenged by limited experience, capital, resources and most importantly customers. A small company in such a competitive environment needs to “leverage” its strengths and focus resources to increase its chances of economic survival.
This leveraging often takes the form of outsourcing. Various examples include:
- Use of external legal and bookkeeping services (third-party providers rather than employees).
- Use of external documentation processing rather than capital purchases.
- Use of external advertisement and marketing services (third-party providers rather than employees).
- Use of external sales prospect lead services (third-party providers rather than employees).
In the case of outsourcing sales prospect lead services the sales organization can either: purchase the sales leads or work with an onshore (local) or offshore call-center to generate the sales leads. If the decision is to purchase the sales leads, these are in turn generated by a third-party company via a combination of Internet responses (forms or Email) and inbound or outbound call-center telemarketing. Such sales leads may either be exclusive to the purchasing sales organization or shared with multiple customers.
Which is the best strategy for an organization? This should largely depend on the quality and the conversion rate of the sales leads over a normal sales cycle period. That is, sales prospect leads are converted by the company into new customers during an established period of time (1 week, 1 month, 3 months, etc.) Ultimately what is the relative cost of converting a sales prospect into a new customer? In addition to the direct “cost per sales lead” the organization needs to factor the associated savings of personnel time and resources and the additional revenue generated (or prevented from being lost) due to increased maintenance (leverage) of the existing customer base.
For many companies, the cost for generating new customers is difficult to quantify, with sales prospect leads being only one component in the process.
For additional information, contact Nexus Teleservices.
Nexus Teleservices is an offshore (English/Spanish) call-center outsourcing, telemarketing, sales lead generation and customer services provider. http://www.nexusteleservices.com