Written by Silicon Luxembourg on 04.10.2019
Tell us about your startup.
SOS stands for Sales Outsourcing Service. Our services are primarily targeted at European startups which are looking to scale rapidly without having to hire sales personnel.
Delivering a good product or service is a real challenge for any new business. So we thought, why not create a service that takes care of the sales so the business can focus on its core competencies.
How did you come up with the idea?
While working on another project, people kept mentioning how hard sales would be. Hearing this repeatedly, we decided to do some more research. The conclusion we came up with was that there was a need in the market that was not being fulfilled. Seeing that we had over ten years of experience at the top level of sales, we decided to give it a try!
We started by helping a financial software startup in its lead generation process and over nine months, we adapted our sales methodology to suit a more dynamic and agile startup environment.
We came up with a flexible model and pitched to a large startup audience for the first time in April 2019. The reaction was very positive, and today, we are working with seven companies across Luxembourg and Europe. We’ve just moved to a bigger office and are looking to hire our second employee!
“Our clients are mainly looking to grow their sales in the market but need to manage their budgets. Hiring salespeople is still risky and costly.”
What are your products/services?
As a sales outsourcing service, we offer two services. Firstly, we offer Direct Sales, which involves reaching out to qualified leads through traditional sales practices. Secondly, we offer Digital Sales that works through online lead generation campaigns. Depending on the business, we recommend the service that is most suited to bring in better ROI.
However, the good thing about our offerings is that they can be complementary. Companies can target both direct and digital channels to maximize their potential sales.
What is your business model?
We provide our clients with a monthly subscription that uses a credit-based system. This is broken down into managing a minimum of 5 target markets (Digital Sales) and/or 50 companies (Direct Sales).
Here’s how our Direct Sales service works. As a business, the company will have 50 credits for the month that will be assigned to us as leads to contact. Through our expertise, we work on getting in touch with the decision-makers from each of the 50 leads, sell their business proposition, arrange meetings and help the company close the deal.
Throughout this process, we provide companies with regular updates and reports so that they are aware of how things are going.
A strong value proposition we bring to the market is our fee model. We charge a monthly fee that is equivalent to the minimum salary in Luxembourg together along with a success fee based on the business generated which gives you access to senior sales specialists (without having to manage the labour costs!).
“With business picking up, we are planning to expand and increasing our presence across different markets and sectors.”
Who are your clients?
Our clients are primarily innovative small and medium-sized startups based in Europe that are active in various sectors. Their activities are within fintech, regtech as well as software and service providers.
These clients are mainly looking to grow their sales in the market but need to manage their budgets. Hiring salespeople is still risky and costly.
What are you developing next?
SOS is already experiencing success with its first clients and is looking to expand its team. With business picking up, we are planning to expand and increasing our presence across different markets and sectors.