If you’re responsible for creating new business in your organisation, you may be struggling because of a few common problems:
- Trying to do sales on top of the many other things already on your plate
- Don’t have a dedicated sales process as you have relied on referrals to grow
- Not budgeting for a successful sales process in terms of both money and time
In the past few years there’s a real problem we’ve noticed in companies of a certain size: they don’t have a dedicated sales process, and don’t have a dedicated sales team… or even a single dedicated sales person.
This is usually the case when your company has got by running solely off referrals. But what happens when referrals dry up? What happens when you want to actually grow, and know for certain that you have plenty of new customers to serve whenever you want them?
You may, when pressure for new revenue is high, have wondered what it would take to have your own sales team. One who could take the sales admin and busywork away from you and from your team. But how much would it actually cost to build your own SDR team?
First, a note. There are many obvious benefits to having a team who do nothing but focus on bringing in new customers, clients, leads, sales and revenue. They can generate appointments. They can nurture leads. They can deliver presentations. They can devote themselves to sales calls. They can send out tailored proposals that are likely to be agreed. They can, in short, be a miracle for you, your team, and all of your sanity.
But an underrated benefit is that they can allow you and your team to sell far far far better. When they deal with the entire process all the way up to the last and most crucial sales conversation, then you’d be shocked how much easier growing your business revenue can be. Having a sales team doesn’t mean you don’t get involved. It just means you only have to be involved at the time where your presence is most valuable. It also means you turn up for those conversations remarkably grounded and well positioned as an high value individual in the organization.
But can you afford to do this?
Here’s how to figure it out.
First things first, the most time consuming, difficult part of the process will be acquiring sales talent. For this reason, a good starter sales team would be made up of:
- An SDR manager
- Two SDRs
The manager will spend almost all of their time finding and training the two representatives. What little other time they have will be on preparing and developing the infrastructure for the sales department.
On average, your SDRs will set you back £45,000 – £70,000 a year and full time. This doesn’t include the cost of your time to manage them or if you were to hire a sales manager to keep them focused and hitting targets.
Then there’s the tools and tech. You will need:
- A CRM
- A Sales engagement tool
- A data provider
Together, these can cost you around £25,000
So, by our reckoning, the Total including a Sales Manager would be = £200,000+ per year
But how long until you see results?
It usually takes about 6 – 12 months to get a team off the ground and running smoothly. There are a lot of places to get stuck with this process, especially if it’s your first time.
I’d love to hear from you: have you got a dedicated sales team? Have you thought about it? How would it affect your company and you personally if you have had a dedicated successful sales personnel?