The market for telemarketing and call centers is set to rise from $339 billion in 2021 to $496 billion by 2027. Why? Because contrary to popular rumor, telemarketing still works like gangbusters!
Without a doubt, telemarketing is one of the most effective ways to improve your business’s bottom line. If you outsource telemarketing calls, it can help ensure that you maximize profits and minimize costs.
Read on to find out how you can use this powerful tool in your business:
What Is the Average Cost to Outsource Telemarketing?
The average cost for a new internal hire is approximately $4,000. This includes advertising, interviewing, and background checking individuals before hiring them and covering what benefits must be given.
Of course, this varies according to country/state/region, but we’ll use this number as a baseline for calculations. Now, this same work can be outsourced to a telemarketing company for much less.
Need Help Handling the Workload?
You may need to hire more people to help with your work. This is because if you do not, the person who is doing it now will be too busy and they can’t help new clients or customers.
You may need to hire a full-time employee or someone who works only for a little while.
But if you hire a virtual assistant, they cost about $3 an hour. So for this example, let’s use 36 hours a week since that would make their hourly rate $3.
How to Outsource Your Telemarketing
To start out with outsourcing telemarketing, it’s important to figure out exactly what tasks your employees are currently performing and how many hours they spend doing them.
This will determine how many hours per week you need to hire a telemarketer to work.
Next, find out the average salary for these employees so you know how much you’re spending on their hourly rate (remember that this is only an estimate).
You can then calculate what you would be paying either your new employee or your virtual assistant based on time spent by multiplying the number of hours worked per week by their hourly rate.
If we take our example numbers and use 52 weeks in a year, the amount spent on hiring a full-time employee is $52,000 (40 * $4 = $160 + (52 * $3) = $780).
If we use an outsourced telemarketing call center instead of at 40 hours per week, the cost for a virtual assistant is $52,000, or about 98% less!
The benefits don’t stop there. By outsourcing telemarketing, you get to save on taxes because this is typically covered by the contact center that provides your virtual assistant.
In addition, if you’re located in a country/state/province with high-income tax rates, then it’s possible that using an outsourced worker can actually save you more money than hiring another full-time employee.
Additional Points to Note
Additionally, some companies charge monthly fees, while others offer some bonus services free of charge. It may also be cheaper to use a small business phone system instead of an individual landline for each new hire.
Outsourcing telemarketing can save businesses both time and money, and cold calling still works.
It’s essential for any company to make the most of what they have, but this also means that a small business owner needs to measure potential hires before hiring them.
Telemarketing Could Be the Key to Your Better Future In Business
Telemarketing is an important sales tool in business, but if you outsource telemarketing, it can help maximize profits, by partnering with a telemarketing company that has experience and expertise in the field.
As a result, your business can see a significant return on investment with this strategy.
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