In the world of business, outsourcing is no longer a dirty word. In fact, prior to the pandemic the global outsourcing industry was valued at US$92.5 billion! Much remains to be seen about just how COVID-19 (and its aftermath) impacted global outsourcing figures. However, early indications are that even more companies are using outsourcing in the wake of the Lockdown to help restart their businesses.
Why are so many companies keen to outsource as a smart way of growing their business? What are some strategies that businesses, large and small, can use to outsource successfully?
The benefits of outsourcing are manifold:
• outsourcing non-core business undertakings enables companies to focus on what they do best
• it saves businesses money and helps them to run more efficiently
• outsourcing helps to develop and maintain an edge over competitors
• increased profitability.
Let’s take a look at three services you can outsource right now to help grow your business.
#1 – Outsourcing Customer Support
Most small to medium-sized businesses cannot afford the time nor the money needed to maintain a dedicated customer support team. To do so usually means taking other staff away from their core work. For instance, salespeople having to field basic customer queries when they could be generating new leads. We get it. It’s important to keep customers happy. And a good outsourced customer support service is designed to do just that. Rather than tying up your people with customer support, why not free them up so they can innovate? Shifting time and money away from in-house customer support and placing emphasis on product development and marketing is a sure fire way of helping scale your business. However, prudence here is key. It’s important to research your outsourced customer support service options carefully. Costs and types of services can vary widely from supplier to supplier.
#2 – Outsourcing Logistics
Warehousing, order fulfilment, and dispatch. All of these things should be outsourced by a reliable third-party logistics company (3PL). These companies are efficient and experienced at what they do. Thus, your customers are actually getting a better customer experience. Which is what really matters. Plus, you free up your time to focus your efforts on marketing and selling your product. The bonus of using a 3PL is not only cost reduction, they are also able to scale up or down depending on your business’ needs.
#3 – Outsourcing Expertise
Why are so many modern companies hiring freelancers? In a nutshell: to gain an edge over competitors. Think about it. When you use freelance platforms such as fiverr.com you are able to find highly skilled people who are experts in their field. Experts that can help your business grow. Indeed, hiring freelancers means you can tap into pools of talent not already existent within your company. Want to try a new social media marketing strategy but can’t afford a full-time social media manager nor have the talent in-house? Freelance it! Outsourcing some work roles within your business model helps your business to grow. It means that you can continue to focus on what you do best whilst simultaneously working with different experts who can help to you to expand into new areas.
Business owners once would worry whether or not to outsource. Now they’re wondering how much they should outsource! As can be seen, outsourcing is a smart way to expand your company’s capabilities whilst maintaining a focus on your core business. When it comes to scaling your business, can you really afford not to be outsourcing?