March Outsource Report: 1,122 inquiries, 1,868 full-time jobs worth $56m
March was a strong month for outsourcing traffic and inquiries, with web traffic jumping 39.93% from February, and page views up 36% to 299,491 for the month. In March, the OA platform generated 1,122 inbound inquiries (up 14.37%), from 52 countries representing 27 different sectors.
There were 829 outsourcing quotation requests (up 34%) representing an estimated 1,868* full-time staff with an estimated outsourcing value of $56,040,000*. See all statistics in the Source Partner dashboard.
The annualised quotation inquiries amounted to a total outsourcing value of $658,680,000* requesting a total of 21,956* 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)
We have initiated a new client quality score protocol, and have retro-analysed the prior 14 months of inbound leads. The platform now assesses lead quality on a range of validation, quality and engagement metrics. For March, overall low-quality inquiries rose slightly to 13.01% from 9.09% in Jan, and high quality leads dropped a bit from 30.81% to 26.38%.
The long awaited v3 release of the Source Partner program, including the powerful new Source Partner dashboard will be launched on April 16th. This promises to be a game-changer for BPOs looking to grow their customer base. We will be opening up the waiting list and pre-sales soon.
OA Incubator and digital studio is launching! Outsource Accelerator has moved into a new state of the art office, and is building a TV studio to provide unparalleled outsourcing content and coverage. The studio will offer in-person tours, webinars and education.
OA launched the new client dashboard in February. This is an interactive dashboard designed to help outsourcing inquiries browse their options and connect to outsourcing partners easier. The intention is to have the client inquiries spend more time on the website, further verify their needs, and progress further with their outsourcing journey – within one visit.
Outsource Accelerator’s BPO directory continues to ramp up to include 3,300 firms globally. We are collating significant information about every BPO on the planet. We have enough data on each BPO to rank each of them. This will become a new feature of the increasingly interactive – and powerful – BPO directory.
There are a lot of exciting developments planned for 2022!
Key metrics for March
Total outsourcing inquiry value – (12 mo.)
Total outsourcing inquiry value – (Mar. 2022)
OA generated over 36 inbound outsourcing inquiries for every day of the month in March. Of these, there were 829 quotation requests for the month – here are six interesting examples:
Outsourcing inquiry insights – March
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
Fast growth ahead
The outsourcing industry is seeing sustained interest and growth right now. The perfect storm of COVID-induced remote working, labor shortages and rising salaries across the West, plus a normalization of online tools and digital work means that outsourcing is gradually becoming the norm, rather than the exception.
We suggest that all small and mid-tier BPOs should shoot for 50% growth this year. Are you ready?