Can Outsourced New Business Match Up To Internal Resources?
When looking at new business strategy, many consider both outsourcing to a new business lead generator and bringing a new business person in-house. The chances are they view these options as quite distinct, each with its advantages and disadvantages. The decision to outsource might be made with the thinking that while cold new business should be well looked after, it will still be up to the agency to keep on top of its network of contacts, proposal follow-up, and other proactive marketing initiatives. But if your new business partner is of sufficient calibre, then it's more efficient to combine the two aspects.
Our relationship with web optimisation consultancy Logan Tod began in 2006 with an initial focus simply on creating opportunities from 'cold'. However as with many medium-sized agencies, the senior team was still very involved in delivering client work and found it difficult to keep on top of an ever-growing pipeline of new leads. As the relationship with Rainmaker developed, we saw that many of the opportunities we were providing them with were in need of a more proactive approach post-meeting. And, as is often the case, in taking on more responsibilities here, the trust grew to the point that Logan Tod now happily involves us in the follow-up of proposals and progressing their own warm leads.
Thus via Rainmaker, the client benefits by having a team of people dedicated to all aspects of their proactive new business development. They experience none of the HR worries or unexpected overheads associated with in-house new business staff, plus an ongoing focus on cold and warm leads, several of which have since become pivotal clients in their portfolio.
The decision to outsource or otherwise is an important strategic one and there are benefits in doing it either way (our sister company Blossom recruits and trains new business professionals for in-house placements so we fully understand that). Using in-house and external resources at the same time points to a lack of confidence in one or the other resources. But with the right partner and a real commitment to making it work, there doesn't have to be a compromise in how you do it.
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