There are many adjectives to describe today’s sophisticated, fast-paced, data-driven, automated business world. As a result of this complexity, businesses spend half the time wondering how to generate leads (according to Hubspot.com, 63% of marketers struggle here) and the remainder is spent fantasizing about going on holiday after all their leads convert to sales.
Working with a B2B lead generation firm is a decision considered by many industries due to the high efficiency rates and almost universal application. Sales-cycle improvements with outsourced lead generation have these merits when compared to in-house:
• Avoid Stabbing in the Dark – It is rare to meet a prospect that needs your product, has shown interest in purchasing, and has the finances to back the decision. But with adequate qualifying done beforehand by lead generation experts, this (instead of chasing unwilling prospects) can be the norm.
• Know Your Customer – Outsourced specialists leverage sources such as social media and professional sites, amongst others, to gather relevant data for their buyer personas. A comprehensive psychographic profile of your customers is an indispensable tool when reaching the right client.
• Hidden Figures – Besides the paycheck, the ultimate cost of an in-house employee involves equipment, taxes, office space and sick-days. Whereas outsourced lead generation employs a straightforward ‘pay per result’ model.
• Reap What You Sow – Nurturing via follow-up is a valuable early stage of the sales funnel, but its full potential is often unrealised when conducted in-house. Data from Forrester Research shows that companies embracing the concept of lead nurturing produce 50% more sales-ready leads; and they cost 33% less to generate.
• All Roads Lead to Rome – An expert lead generation partner will use several channels simultaneously to bring in leads. This type of reach is often unachievable with an in-house setup. But through a specialist, with an extensive network and a gamut of online and offline tools on hand, prospects can be effectively engaged in their natural environments.
• Don’t Ass-U-Me – Lead qualifying has reps vetting large numbers of customers day after day. Mistakes can be made when representatives assume that customers know just as much about the company as the reps themselves. This is counterproductive since the standard is to think that customers know little or nothing, then find their requirement. It’s obvious how an outside expert can assist here.
• “Time Is Money,” said Benjamin Franklin – Relegating high-grade employees to the repetitive task of filtering B2B leads is a squandering of talent. Outsource this, and focus the saved time on building effective marketing campaigns and on tasks further down the sales funnel (e.g., closing) which maximises employee potential.
Conversely, keeping lead generation efforts in-house offers benefits when a company:
o Requires complete control over team activities and workload
o Prefers in-house experts having high product and lead generation knowledge
o Treats inbound marketing as their primary source of leads
For all other B2B situations, the best time to explore and consider outsourced lead generation is right now. Then businesses can also use the freed-up time for actual holiday planning – instead of just fantasizing.