Lead generation is significant to B2B business growth as it helps you find new potential customers. However, it is quite a time-consuming and challenging task. To get the best results, businesses opt for outsourced lead generation.
Outsourcing lead generation can benefit your B2B company beyond your expectations. The lead generation expertise helps increase sales and return on investment (ROI). Still, there are many things that you should consider before initiating the outsourced lead generation process.
This article covers all the challenges and benefits of opting for outsourced lead generation services.
What is Outsourced Lead Generation?
Outsourcing lead generation means hiring a 3rd party to generate leads for your business. Lead generation by experts brings in more quality leads to help increase sales.
More than 85% of B2B companies that outsourced lead generation found it favorable for their business. Plus, 71% of them stated that the outsourced team outshone their in-house counterparts.
So, an external team is time-efficient and ensures you get the best value for money. Yet, you must be careful before hiring a company, as it will directly affect your business. So, let’s see what factors you should consider before choosing an outsourcing company.
What Things to Keep in Mind When You Hire a Lead Generation Company?
Keep the following suggestions in mind before you opt for outsourced lead generation for your B2B business.
Expertise in Your Niche/Industry
When hiring a company, ensure they have previous lead generation experience in your business niche. It will help you estimate the knowledge they have about the industry. Moreover, they must know how to modify the marketing strategy with changing trends in the industry. Check if they understand behavioral targeting to attract customer to their lead-generation strategies.
Clarity Regarding Goals and Expectations
Clarifying the goals and expectations is critical to collaborating with a lead generation agency. Discuss every little detail about lead generation in your business, including your target audience and ideal prospects. For instance, discuss what services you expect from their team and where you can play a role in this outsourced lead generation process. Also, don’t forget to define the lead goals for your business that you have in your mind.
Consider Reviews Before Hiring
Checking a lead generation company’s credibility and professionalism is a must when hiring them. They must have proof to validate the services the company is claiming to perform.
If you’re hiring a lead generation company through a trustworthy reference, ensure they have had previous experience with them. Moreover, you can always look for social reviews of the lead gen company on different sites, including G2 and Clutch.
Decide on Regular Check-ins
While discussing the collaboration, decide how you want to keep a check on the performance and progress after regular intervals. Furthermore, discuss how the agency will keep you updated with every new step they take in your business’s favor. Mentioning that you appreciate transparency regarding changes in the marketing strategy is also a good idea. In addition, hire a professional lead generation team with effective suggestions to increase sales and ROI.
After you’ve outsourced lead generation, ensure you get the best out of your marketing investment. Calculate the return on marketing investment (ROMI) percentage to know whether outsourcing with this company is worth it. You can follow the below steps to find out the ROMI:
- First, subtract marketing cost from sales profit.
- Now divide it by the marketing cost
- Lastly, multiply the term by a hundred
Here, the term you have is the ROMI. If it’s more than 100%, then the marketing campaign is worth your investment; otherwise, it is fruitless. So, it would be better to shift to another agency if the results do not improve.
Keep your Contact Intact
Although this is after you’ve hired them, it is important to remember. It is essential to keep updating one another to ensure that both parties are on the same track. So, never let your contact with the lead generation agency break, and keep collaborating with them for important discussions. Discuss regular overviews, the performance of the overall lead strategy, and any shortcomings to fill.
7 Benefits of Outsourced Lead Generation
If you assign the lead generation operations to an in-house team, it will take more time than you expect. From generating to filtering high-quality leads, there’s a lot to do. Building a lead generation and marketing strategy is itself a very time-consuming task. Moreover, you have to update them with the latest trends, technology, and strategies in the industry. However, outsourced lead generation takes this burden off your shoulders. The team will invest their time in generating quality leads for your business and, thus, save you time.
Increased Focus on Business
Focus is the most important thing to build a successful business, and lead generation can distract you from the goal. However, the situation shifts in your favor by handing over the task to outsourced lead generation services. Now, you don’t have to focus on generating leads, and you will save a lot of time. You can utilize this time to design strategies to scale your business.
Keeping up with Latest Tools and Access to Specialized Skills
The professional lead generation team has access to all the latest trends, marketing strategies, tools, and technology in the industry. Undoubtedly, updating the marketing strategy based on the changing trends is the utmost thing to do in lead generation. And when the in-house team can lag in this area, the team of experts will never disappoint. They also leverage AI lead generation to bring the best results.
Lead generation needs special skills besides the resources the internal team might lack. Their experience in data analysis, marketing expertise, and technology will help generate more leads. So, no more worries when your lead generation operations are in the hands of experts.
Increase in Scalability
Outsourced lead generation effortlessly scales business activities as they know how important scalability is to any B2B business. The expert lead generation team will update the marketing strategy according to the changing trends. They guarantee that your investment and their efforts favor your business. And for that, they develop effective and latest strategies to achieve the desired goals. Furthermore, you save time that lets you focus on other aspects of your business, like logistics and growth.
Improved Quality Leads
A newly trained in-house team will need to learn how to score leads regarding quality. On the other hand, a lead generation agency creates high-quality leads with increased chances of converting. Furthermore, they efficiently detect high-quality leads and shift their focus to engage with ideal prospects in the best possible way.
Better Results in Less Time
Lead generation aims to achieve the business goals within a certain amount of time. When you take outsourced lead generation services, the agency pulls the desired results faster than an internal team. The quality of the generated leads directly affects sales and business. So, ideal and high-quality prospects increase the chances of converting and harvesting the fruitful business.
Hiring a lead generation team is a cost-efficient way to bring in the desired results. The investment in outsourcing is far less than the money you will have to spend on an internal team. If you create an internal team for lead generation, you will have to give them regular salaries with benefits. Plus, you’ll have to bear the cost of any latest introduced technology and lead generation tools. In comparison, you will only have to pay for the generated leads and results.
Besides, the team of professionals ensures that your investment is the best buck you spend on your business. They know what they are doing as they generate high-quality and ideal leads. Also, the outsourced lead generation process focuses on engaging with only high-quality prospects, eventually converting them into buyers.
Lead generation is critical to businesses as it helps you find potential customers you can target for conversions. While you can get an in-house team, outsourced lead generation typically brings better results. It is a time and cost-efficient way to generate leads for your B2B business. The involvement of a third-party lead generation agency with a skillful team benefits your business beyond thought. However, before hiring a lead generation company, consider their expertise, previous track record in your niche, and transparent communication. Also, regular check-ins and consistent collaboration are equally important. Following the above guidelines will show you the desired lead generation results and ROMI shortly.
If you need help understanding how outsourced lead generation services bring results for your business, our expert team at Kubico would be happy to facilitate.
Get in touch to learn more about lead generation and how we can help generate quality leads for your business.