This chart is a representation of Athena’s model and what we believe is a best practice approach to establishing a sustainable and effective new business development effort.
Below is a list of the pros and cons for implementing a new business development model from the ground up internally versus choosing to outsource to a provider like Athena SWC.
|Management and accessibility to a direct employee(s)||Time consuming to train staff effectively||A proven, best practice process that provides the discipline and capability to quickly implement and go to market without extensive “ramp up” time. (45–50 day implementation)||Initial knowledge of client and/or learning curve for the outsourced provider|
|Full-time employee(s) dedicated specifically to your new business development efforts (for your capabilities, products, markets, etc.)||Time and money spent researching new business development strategies and learning how to properly implement. (processes, software, etc.)||Template and foundation for the client to implement internally in the future (if desired)||Access to a percentage of an outsourced team’s time|
|Expansion of new business development initiative is highly controlled by management||Employee burnout and turnover due to working on the phones, which could lead to unexpected costs associated with refilling the position||60-day opt-out, which provides a risk-averse, cost-effective option to test a best practice lead generation approach||Sales leadership’s time commitment for proper implementation during initial launch (approximately 3hr./week in first 45-50 days)|
|Control the investment in salaries, benefits, and software||Failure of FTE(s) to achieve sales goals, resulting in the need to restart the hiring and training process||Software, tools, printing and postage included in the investment||Sales staff “buy-in” and understanding of the process model|
|Professional growth of employees within the organization||Need to hire multiple individuals with various skill sets to implement a new business development infrastructure (list clean, inside sales, marketing/content and graphic design)||Ownership of all data, prospect lists and marketing/sales collateral||Lack of on-site resource, which can impact communication between the outsourced provider and client|
|Cost of full-time employees and software and technology (estimated between $250K – $350K annually minimum)||Market intelligence, sales statistics, and analytics (to track, measure and monitor ROI and effectiveness)|
|Immediate access to a team of experts with various skill sets without having to hire/manage employees (list research and development, inside sales, marketing and graphic design, and project management)|
|Mitigates management’s time and investment in hiring, supervising staff and managing the flow of activities|
|Mitigates the risk of staff turnover that can disrupt the flow of activities|