July outsourcing performance
July was a strong month with the value of outsourcing inquiries rising 33% to $79m*.
Despite website traffic remaining stable at 108,772 visitors and 363,706 page views, total inquiries rose 9.9% to 1,417 for the month. The total value of the quotation requests rose an impressive 33% from $59.6m in June to $79.6m* in July. The inquiries came from 66 countries representing 28 different sectors.
Of the 1,417 inquiries, there were 1,060 quotation requests representing an estimated 2,654* full-time staff with an outsourcing value of $79,620,000*. See all statistics in the Source Partner dashboard.
For the last 12 months, outsourcing inquiries amounted to a total value of $749,460,000* requesting a total of 24,982* full-time roles.
*Conservative client value calculation: take the lowest end of their role request numbers, multiply by conservative top-line revenue of $1,250/role/month, multiplied by 24 months (conservative team lifetime value & duration)
Source Partner v3.0 upcoming launch!
The new Source Partner dashboard is now live! The v3.0 release is a complete rebuild and offers unrivalled tools to help outsourcing firms attract new clients, and make more sales. It offers:
➤ Powerful business intelligence tools to identify outsourcing client prospects.
➤ Get introduced to hot inbound outsourcing inquiries.
➤ Powerful analytics and business intelligence tools to assist the sales process.
The most powerful outsourcing platform
Over the next 18 months the Source Partner platform will grow to become the world’s most powerful outsourcing marketing platform, business intelligence tool, and community. Join us in this journey. Early birds catch the worm!
We are about to offer a one-off launch deal to get you all onboarded. Stay tuned for this.
List or claim your company page today – and get access to the SP dashboard. It’s free.
Key metrics for July
Total outsourcing inquiry value – (12 mo.)
Total outsourcing inquiry value – (July 2022)
OA generated over 45 inbound outsourcing inquiries for every day of the month in July. Of these 1400 inquiries, there were 1,060 quotation requests – here are six interesting examples:
We have initiated a new client quality score protocol, and have retro-analysed the prior 24 months of inbound leads. The platform now assesses lead quality on a range of validation, quality and engagement metrics.
Outsourcing inquiry insights – July
The Source Partner dashboard provides live analysis and deep-dive insight into the traffic and inquiries coming through. Some insights from this month:
Number of roles initially required
Clients typically start with a smaller requirement and then grow the team once they settle the team
Size of clients’ company
The inbound inquiries come from companies of all sizes – from startups to multi-national enterprise
Location of clients’ company
The client inquiries come from across the globe – typically from the high-cost English-speaking nations
Clients’ company sector
The client companies cover almost every sector possible, and the roles they seek are also very varied
Outsourcing is countercyclical
All indicators show that the world is heading towards economic recession. Funding is drying up, interest rates and inflation are on the rise, and the job market is tightening. The top-end of the US job market is showing considerable reversal of fortunes as tech companies scramble towards profitability and self-preservation. However, employment generally remains strong – which suggests that their is good opportunity for outsourcing.
As companies hunker down to tough times ahead, they are all looking for ways to cut costs, whilst still growing – or at least maintaining – top line revenues. Outsourcing offers a unique opportunity for companies to get the staff they need, whilst cutting costs.
As the recession forces the world to look for cost-saving and competitive staffing solutions, outsourcing is perfectly positioned to capture enormous growth and upside.
The outsourcing industry faces unprecedented opportunity over the next two years. We suggest that all small and mid-tier BPOs should shoot for 50% growth this year.
Are you ready?