Do you often start your day buried under emails, schedule planning, and to-do lists? Then, after what feels like only an hour, you realize it's already midday, and you haven't even reviewed the upcoming marketing campaigns pending approval or met with your CFO.
If you're like many leaders without a virtual assistant (VA), mornings filled with tedious admin tasks are a regular challenge. Instead of focusing on high-value tasks, you spend most of your day bogged down in routine work.
These time-consuming tasks consume so much of your week that by the time you’ve finished them, your work-life balance is gone. Hello, 60-hour workweek!
You’ve probably heard that VAs can be a great investment for business leaders looking to scale. But you might have concerns that hiring, onboarding, and delegating takes up even more time.
So, what’s the solution?
Read on to learn how a managed virtual assistant can be the best investment for your business and how it can deliver ROI at multiple stages.
Table of Contents
- What is ROI in the context of virtual assistants?
- How can virtual assistant services maximize ROI?
- Time ROI of virtual assistants
- Financial ROI of virtual assistants
- Long-term ROI of virtual assistants
- What tasks can you outsource to virtual assistants?
- How to hire and manage virtual assistants
- How much do virtual assistants cost, and how much can you save?
- How to measure the ROI of a virtual assistant
- Maximize productivity and ROI with Prialto’s managed virtual assistants
- The ROI of virtual assistants FAQ
What is ROI in the context of virtual assistants?
Return on investment (ROI) is the amount of profit or benefit you gain from an investment compared to its cost. When we discuss ROI in the context of virtual assistants, we're comparing the value they bring to your business to the money you spend on them.
A virtual assistant is an individual who provides various services to entrepreneurs, managers, and leaders from a remote location.
Since they work online, they’re called “virtual” assistants.
VAs can handle a range of tasks, from administrative duties to customer support, freeing up your time for more strategic work.
By using a virtual assistant, you and your team will achieve more without the higher costs associated with hiring full-time staff. The ROI here is not only saving money but also boosting your team’s productivity and efficiency.
In short, virtual assistants' ROI is in cost savings, increased productivity, and improved focus on core business activities.
Learn More: The Ultimate Guide to Hiring Virtual Assistants
How can virtual assistant services maximize ROI?
Most entrepreneurs, business leaders, and managers find they need some support with repetitive tasks. But, as you grow your business, you may not want to hire a full-time employee or executive assistant to handle these time-consuming tasks.
To keep overhead costs low and continue scaling, it’s cost-effective to outsource tasks to a virtual assistant.
VAs can help business leaders with a variety of tasks, including:
- General business operations
- Social media marketing
- Administrative support
- Project management
- Workflow management
Offloading tasks to a VA helps optimize your business's use of resources. They help you save time, reduce costs, and increase productivity, allowing your team to focus on what really matters.
Another bonus of outsourcing to managed virtual assistant services is you can scale your support up or down as your needs change. So, when you know you’ll need extra support in busy periods of the year, you can organize extra help.
Time ROI of virtual assistants
Imagine how much time you could save by not sifting through emails or managing your calendar. If you’re anything like the heaviest email users, you may spend over eight hours a week on email. Now add to that all the other repetitive admin tasks you have to complete, too.
According to a 2023 LinkedIn survey, many business owners are wasting more than 300 hours per year on admin tasks.
One of the biggest benefits of virtual assistants is the time they save you. Instead of getting consumed by the minutia of scheduling, email management, and data entry, your VA can handle these and free up valuable hours in your day.
You can then invest this saved time into higher-value projects that require your skills and expertise.
With a virtual assistant, you get more done in less time, making your workday more efficient and productive. You’ll also have more time to focus on strategic decisions and core activities that drive growth. Improved time management translates directly into higher ROI for your business.
"The time I am saving on not deleting emails alone is saving the district thousands of dollars." -Rob Lukens
Financial ROI of virtual assistants
Delegating tasks to virtual assistants can reduce labor costs. Hiring full-time employees comes with expenses such as salaries, benefits, and office space.
It typically costs companies between $4,000 and $20,000 to hire a new employee, not including salary and benefits. Benefits tend to cost anywhere from 20-40% of an employee's salary and the average executive assistant’s salary in 2024 is $66,051.
So, at the most conservative estimate, hiring an in-house executive could cost you:
$4,000 (to hire) + $66,051 (base salary) + $13,210 (20% benefits) = $83,261.
Virtual assistants, on the other hand, typically work on a contractual basis, allowing you to pay only for the necessary hours or tasks. You don’t have to pay the hiring, overhead, and benefits costs. Those are handled by the service.
Plus, virtual assistants can help increase your bottom line by improving efficiency. They handle admin tasks, allowing your team to focus on high-impact activities like sales and client management. This mindset shift can lead to better business outcomes and higher profits.
Say you pay $1,500 a month for a VA who handles 55 hours of work for you. If your time is worth $200, you just saved $11,000 by refocusing your time on revenue-generating work.
Long-term ROI of virtual assistants
The long-term ROI of virtual assistants goes beyond immediate cost savings and efficiency gains. Over time, the benefits of having a virtual assistant become even greater. By consistently handling routine tasks, virtual assistants help you maintain high productivity levels.
You can keep your focus on strategic growth rather than admin. Virtual assistants can adapt to new tasks and responsibilities as your business evolves, providing ongoing value.
Plus, the flexibility of virtual assistants means you can scale their involvement up or down based on your business needs, ensuring you’re always optimizing your investment.
What tasks can you outsource to virtual assistants?
Virtual assistants handle those time-consuming, repetitive tasks that eat into your workweek. These tasks are different for each business and leader.
But here are some common examples of tasks that business leaders often outsource to VAs:
- Administrative tasks: A VA can schedule meetings, manage calendars, and book travel.
- Email management: Sorting through emails, responding to routine inquiries, and flagging important messages for your review.
- Data entry: VAs can input data into spreadsheets, databases, and CRM systems.
- Customer service: Handling customer inquiries, processing orders, and managing support tickets.
- Social media management: Let your VA schedule posts, respond to comments, and monitor engagement.
- Digital marketing support: Formatting assets, organizing marketing calendars, scheduling, and working in your marketing automation platform.
- Research: Your VA can conduct market research, gather data for reports, and compile information.
- Bookkeeping: Delegate managing invoices, processing payments, and keeping track of expenses to your VA.
- Personal tasks: Arranging personal appointments, sending gifts, and managing personal projects.
How to hire and manage virtual assistants
When you hire a virtual assistant, you have two main options. The first method is managing the hiring, vetting, and onboarding process yourself.
This is typically done by visiting a website like Fiverr or Upwork and searching through thousands of VAs.
Between posting ads, scouring listings, interviewing, vetting, hiring, and finally onboarding your chosen VA, the process is time-consuming. Plus, even after investing all this time and energy, there’s no guarantee you’ll find the right VA for your business.
The second method is outsourcing the whole process to a managed virtual assistant service like Prialto. This is the best option for busy leaders who don’t want to spend any time on hiring, vetting, or training VAs.
Another benefit is that if you don’t like your initial VA, our team will find you another one, no questions asked. Plus, if your VA is unavailable due to illness or a vacation, trained backup support can step in.
Hiring and managing virtual assistants through managed services like Prialto is simple. Here’s how to get started:
- Needs identification: Determine the tasks you want to delegate and the required skills. Knowing these details will help us find the right virtual assistant.
- Onboarding: As part of onboarding, we set up communication channels and ensure the assistant understands your business processes and expectations.
- Task delegation: We help you clearly outline the tasks and responsibilities you want your virtual assistant to handle. We share detailed instructions and set clear deadlines so that your new VA completes tasks to your satisfaction.
- Regular communication: We help you maintain regular communication with your VA through scheduled meetings or updates. You can track progress, provide feedback, and ensure alignment with your business goals.
- Performance monitoring: Use our tools and metrics to monitor the performance of your virtual assistant. You can see if they’re meeting your expectations and contributing to your business objectives.
Prialto streamlines the complete virtual assistant hiring and management process. When you don’t need to worry about hiring and training VAs, you can focus on the benefits of having a virtual assistant to enhance your business operations.
How much do virtual assistants cost, and how much can you save?
The cost of virtual assistants varies widely depending on their skill sets, experience, and the tasks they perform. Typically, virtual assistants charge an hourly rate or a monthly retainer.
Hourly rates can range from $10 to $50, while more specialized or highly experienced virtual assistants may charge higher rates.
Managed virtual assistant services usually charge a monthly fee that scales up or down depending on your use. They’re not the cheapest option, but the advantage is that you don’t need to manage your assistant. Behind the scenes, there’s a team that turns your tasks into processes, handles performance issues, and provides backup in case your VA isn’t available.
Despite the upfront costs, virtual assistants can lead to significant savings. By outsourcing routine tasks, you avoid the expenses associated with hiring full-time employees, such as salaries, benefits, and office space.
Additionally, you only pay for the service you need, which is more cost effective than maintaining a full-time staff.
Plus, the efficiency and productivity gains provided by virtual assistants can translate into increased revenue. Business leaders can drive growth and profitability with more time to focus on strategic initiatives.
In the long run, these savings and gains contribute to positive ROI. Virtual assistants are a smart investment for businesses looking to scale up.
How to measure the ROI of a virtual assistant
The benefits of working with a VA become visible quickly – as they take on tasks and you get your time back. But, if you want to get into the math, here are a few key metrics to monitor:
- Track time savings: Monitor the hours saved by having the VA handle routine tasks. Use time-tracking tools to quantify the time you and your team are saving.
- Calculate cost savings: Compare the cost of hiring a virtual assistant with the expenses of employing a full-time staff member, including salary, benefits, and office space. These numbers highlight your direct cost savings.
- Evaluate productivity gains: Track the completion of high-impact tasks to assess their impact on productivity. Measure the increase in completed projects, sales, or other key performance indicators (KPIs) that drive your business forward.
- Monitor quality and efficiency: Review the quality and efficiency of the virtual assistant's work. Ensure that tasks are completed accurately and on time, contributing to overall business efficiency.
- Gather feedback: Collect feedback from your team and clients about the improvements noticed since the virtual assistant was onboarded. Positive feedback can indicate enhanced service levels and customer satisfaction.
- Analyze financial impact: Look at the overall financial performance of your business. Consider the revenue growth, cost reductions, and profit margins since incorporating a virtual assistant.
By tracking these factors, you’ll see the ROI of your virtual assistant, highlighting how they contribute to your business’s success and growth.
Maximize productivity and ROI with Prialto’s managed virtual assistants
Managed virtual assistants can be a game-changer for business owners and leaders. They take on the tedious tasks, freeing you from hours of inbox management, scheduling, and planning.
With a managed VA, you can focus on high-value strategic tasks. You’ll be surprised at how much time you can save.
Are you ready to win back over 25 hours of extra time each week? Discover how hiring a managed virtual assistant can help you scale your business and give you the freedom to focus on the tasks you excel at.
The ROI of virtual assistants FAQ
How can virtual assistant services maximize ROI?
Virtual assistant services maximize ROI by saving you time and reducing costs. They handle routine tasks, freeing up your team to focus on strategic activities that drive growth. This leads to increased efficiency and productivity, resulting in higher returns on your investment. Plus, you only pay for the services you need, which cuts down on expenses compared to hiring full-time staff.
What factors contribute to the ROI when hiring a virtual assistant?
Several factors contribute to the ROI when hiring a virtual assistant:
- Cost savings: Lower expenses compared to hiring full-time employees.
- Time efficiency: More time for you and your team to focus on high-impact tasks.
- Scalability: Ability to adjust the level of support as your business needs change.
- Improved productivity: Increased efficiency by delegating routine tasks.
- Flexibility: VAs can work across different time zones and handle tasks around the clock.
How much time can a virtual assistant save you?
A virtual assistant can save you several hours a week by taking over routine tasks. On average, they can save you anywhere from 10 to 30 hours per week, depending on the complexity and volume of the tasks you delegate. The reclaimed time lets you focus on strategic activities, boosting your productivity and efficiency.