Outsourcing lead generation
Outsourcing Lead Generation: Everything You Need to Know
Outsourcing lead generation can boost your business’ sales by adding a new revenue-producing medium. There is a stockpile of lead generation agencies, and moving forward with one is a huge decision.
Lead generation is considered the top factor of a business’ success. The single most critical thing that you will be doing most of the time in the business world is generating interest of potential buyers in your product or services.
Still, many business owners forget about the option of outsourcing lead generation to achieve an optimal outcome for their sales efforts.
What does outsourcing lead generation mean?
You opt for handing over the lead generation to someone outside your in-house sales department instead of the whole sales process. As many businesses prefer to be in full control of the sales funnel, they are hesitant to outsource such a crucial part of their pipeline to a third-party.
The focus of consideration here is: To outsource or not outsource the lead generation tasks to a third-party.
However, you won’t find a definite answer to this question. As every company’s infrastructure is different, the impending needs may also vary widely.
Before you start considering the outsourcing options, it is crucial for you to assess the best option in terms of sustainability and affordability.
There are many options to find lead generation specialists and agencies to help you with your sales department’s challenging functions. It will surely be the best option if you don’t have experienced personnel to execute the tasks.
On the other hand, employees can be your product’s best advocates, and they can be entirely self-sufficient.
How can outsourcing the task of lead generation benefit your business?
No matter in which industry you are operating, lead generation can prove to be daunting and cumbersome.
Though most entrepreneurs know this from the very beginning, some established businesses might not know the benefits at all.
In the marketplace, where people are continuously flooded with information, the traditional advertising methods are buried deep in the sand of unseen content.
3 primary reason for outsourcing lead generation
You should consider these three critical reasons to opt for outsourcing lead generation to a third party.
When you consider outsourcing lead generation, it can save you a lot of time. If you have spent the entire afternoon cold calling and 90 out of your 100 calls are being rejected, it can get on your nerves.
Besides, you need to create specialized spreadsheets with personalized scripts and notes to overcome sales objections while scouring the social networks to get in touch with potential customers. These tedious tasks can take hours that you could have utilized on a more substantial task.
Imagine what if you hand over the lead generation to professionals who have years of experience? You will regain the most important asset- time.
Besides, you will also free your mind from tracking leads’ stress. It doesn’t matter if you are dealing in B2B or B2C sector; outsourcing lead generation can work wonders.
Increasing work quality
Have you been continually noticing that your current leads’ quality is sub-par?
The reason behind this might be the time spent on getting those leads. It’s not that you don’t know how to get potential leads to your business; it’s just that you don’t have the specialized expertise needed to achieve the task.
By outsourcing lead generation to certified professionals who have been doing this for years, you can expect to get quality leads.
Saving money and resources
Nobody is an all-rounder who can do everything on their own. Collective actions from team members who share a common goal can bring huge accomplishments.
It means that spreading the workload and efforts between different agents will help you get higher ROI in the long run.
Though you have to make a certain amount of investment as a fee to the outsourcing firm, the return on investment you will get will be worth it.
Important points to consider before outsourcing lead generation
Every business operates in a different environment, and the sales managers have to deal with different types of challenges.
You should consider your business’s following strengths and weaknesses aside from budgets and existing professionals.
Consider the sales cycle and product
You might be exerting your efforts in the wrong direction, and the lead generation style might not suit the outsourcer’s model.
While selecting the outsourcing firm for lead generation, you should take into account their sales model, and it should coincide with your business needs.
When you are struggling with personas rather than reaching to a pool of prospective consumers, the idea of outsourcing the lead generation makes more sense.
When you have a short sales cycle, the strategy should revolve around getting the endless potential to know about the product as much as possible.
Budget and bottom line
Every operating business has a set budget, and it can be the most crucial factor in your decision process. Even in some cases, decision-making starts and ends with the consideration of the budget.
Though sticking to the budget is the most important thing, you shouldn’t limit yourself solely to this aspect to decide whether to outsource or not.
If you don’t know much about outsourcing firms’ fees, these can feel like a huge burden on your budget.
Thus, it is important to weigh the total cost for in-house resources and outsourcing against the investment’s potential returns.
The illusion of control
Entrepreneurs or business persons against the idea of outsourcing lead generation often think that they will lose control by handing over the sales functions to a third-party.
However, it is a myth that you will have more control by keeping the sales restricted to in-house employees.
You should consider re-evaluating your business motives. While you think that you will have more control over sales development representatives, you won’t be able to control every word they utter and every task they perform.
Since outsourcing the sales tasks to a third-party can give your in-house sales teams ample time to implement the strategies more efficiently, you will likely have more control over the process.
The final verdict
Do you know that the most outsourced sales function is lead generation? This is because lead generation experts have access to software, proven experience, and specialized expertise to carry out the task efficiently.
They have tried and tested lead generation methods, and some of them are even customized to fit the needs of your business.
As there isn’t a specific type of lead generation and sales process to outsource, you can also hire in-house team members to handle other sales tasks.
You can find lead generation service providers who offer relationship building, cold calling, email handling, and other services.
Don’t forget that every business is different, and the needs and sales process are no exception.
Sales outsourcing can only be a successful option when you have considered all the aspects. You should analyze the existing capabilities of your sales development representatives and set realistic goals.
If you expect outsourcing to be the ultimate solution to all your needs and an overnight cure, then you are doing wrong.
Remember that refining the sales process is a constant process and you will need to constantly evaluate the product growth and other functions as your client base evolves.