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In the Transform Sales Podcast #62, Amir Reiter interviews Ben Simms, Vice President, B2B Omnichannel Sales Services of MarketSource, about the mistakes B2B buyers make when looking to outsource their sales. Ben highlights the importance of thoroughly understanding your Ideal Customer Profile (ICP) and adopting a targeted approach rather than resorting to the outdated ‘spray and pray’ method. He also stresses that sales success primarily hinges on data-driven insights and without a clearly defined target audience, your sales initiatives could fall flat.
In case you missed it…. these are the highlights
Who are your agency’s best-fit customers (as defined by Products they sell and markets they want to sell into)?
MarketSource’s best-fit customers are enterprise-level companies with an ACV of $1 billion selling telecom, technology, construction, and chemical products. While MarketSource’s primary operations are deeply rooted in North America, their services and influence extend globally.
What sets your agency apart from other Sales Agencies when it comes to serving your ideal customer?
MarketSource sets itself apart from other sales agencies by its specialized focus on product companies, particularly those in the enterprise sector, including many Fortune 500 and Fortune 100 brands. Unlike other agencies that predominantly concentrate on lead generation, MarketSource excels in aiding these companies with indirect sales, targeting underserved accounts and neglected customer segments to counter declining revenue trends.
The agency also stands out due to its strategic engagement with channel partners. They skillfully recruit and onboard new partners for a swift start and provide training to existing indirect partners about a company’s products. This strategy has solidified MarketSource’s reputation as a leader in growing revenue through indirect channels and tail accounts.
With origins dating back to the 1980s and IBM as their first client, MarketSource has acquired considerable expertise in assisting large companies across a diverse range of industries. Although their primary operations are in North America, they work globally, helping legacy companies adopt modern sales methodologies and multichannel strategies, with a primary focus on billion-dollar companies. Their meticulous approach to evaluating sales platforms further underscores their commitment to providing comprehensive sales solutions.
What are the Top 3 tips you would give Buyers to increase the probability of achieving the result they want with your agency?
- Familiarize yourself thoroughly with your Ideal Customer Profile (ICP), and encompassing aspects such as company size and the industry they operate in. Cultivate a customized approach, utilizing your deep understanding of your ICP to shape a persona that aligns with your messaging. Discard the ‘spray and pray’ tactic as it is not only antiquated, but also ineffective. Keep in mind, sales primarily thrive on data. Without a distinct target audience, your initiatives risk being ineffective from the start.
- Refrain from expecting immediate results from your outsourced sales agency. A short-term mentality, expecting the agency to be successful in the first few months, is not realistic. Like any operation, there will be a ramp-up period. Although outsourcing can accelerate the sales process compared to doing it in-house, a ramp-up period is still inevitable. Setting unrealistic expectations and hoping for quick turnarounds is merely a band-aid solution. Instead, you need to strategize with a long-term plan when bringing on a partner agency.
Ensure thorough integration between the sales agency and your internal sales and marketing teams. If you’re hiring for lead generation, it’s critical to establish a close relationship with your account executive who will be closing the deal. They need to work closely together to identify the persona, messaging, and distribute daily tasks. Make sure your marketing materials, messaging, and content are ready to be deployed for a precise outreach strategy.