5 Essential Business Functions You Need To Outsource
Part of the deal with running a business is that you have to pay for stuff. A business’s typical expenses include employing staff, leasing premises, and the cost associated with providing products and services.
Many businesses try to keep most things in-house to save money. But as a business owner, there are some things you should ideally outsource to third-party companies. Here are five such examples and details of why outsourcing each function makes sense:
1. Direct Mail Marketing
Direct mail marketing is still alive and well, and typically offers a better ROI (return on investment) than digital alternatives. Many businesses rely on direct mail marketing to promote their brands and the products and services they offer.
The trouble is, some firms try to run the whole process themselves - including printing out each mailer on a color printer! Direct mail marketing is undoubtedly something you should outsource, including fulfillment, to save your business time and money (and your sanity!).
Have you ever wondered how direct mail providers do what they do and what you get for your money? Check out the websites of some local printers to learn more about the printing and distribution process.
2. Online Marketing
If your business offers online marketing solutions to other companies, you can probably skip this section. Otherwise, you should seriously consider outsourcing your online marketing to an expert.
Why? First of all, you’re unlikely to be an online marketing guru with several years of industry experience and knowledge. And secondly, even if you were an online marketing expert, you need to concentrate on other business areas.
3. Accounting
It makes no difference if you’re a sole trader or your business is massive, and you have dozens of employees. You should outsource your accounting to off-site accountants or an online service like Bench for several reasons. What is Bench? It’s the biggest online bookkeeping service in the United States. It’s made up of a team of online accountants and bookkeepers who will work hard to look after your financial affairs so you don’t have to worry about a thing.
Why should you outsource? Firstly, you save money because you don’t have to hire an accountant or bookkeeper. Secondly, they’ll help your business reduce your tax liability, resulting in greater profits. And, thirdly, they’ll have the latest qualifications and skills necessary to manage your financials.
4. Outbound Telephone Sales
Many businesses rely on outbound telephone sales to bring in extra custom. It’s a tried and tested way of increasing brand, product, and service awareness to a specific target market. The thing is, hiring sales staff is expensive.
Did you know that you can outsource your outbound telephone sales to other firms? Their sales teams act as an extension of your business. Any potential customers talking to those salespeople assume they’re dealing with an employee of your business.
5. Order Fulfillment
Do you run a business that sells physical products? If so, you’ll undoubtedly be aware of the high cost of leasing warehouses, employing staff to manage them, and the cost of picking and packing orders.
Nowadays, you can outsource that side of your business to a third party organization. Many companies offer order fulfillment services, and they can even take care of customer returns on your behalf.
Take a look at Amazon’s website to learn more about its order fulfillment services. Doing so will give you a clearer idea of what you can achieve with such a service.
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