Lead Generation Outsourcing: Your Key to Business Growth

 

Outsourcing any task can have a major positive impact on your business. From IT and networking to lead generation outsourcing, there’s almost nothing a company cannot benefit from. Through specialised tactics such as data analysis, telemarketing, and even cold calling, outsourced lead generation has the potential to accelerate business and scale rapidly.

However, as excellent as the benefits of lead generation are, there are a few things that can hinder your progress. For instance, working with the right lead outsourcing vendor is critical to the success of a campaign. But don’t worry, here is everything you need to know beforehand.

Understanding Lead Generation Outsourcing

So you might be wondering, at this point, what exactly is lead generation outsourcing? Put simply, outsourced lead generation services are available for your company to hire. In exchange for a fee, a lead gen service will identify leads, interact with prospects, and hopefully push through conversions for increased sales and revenue. 

Essentially, you delegate the task of finding and working leads to a third party that works on your behalf to improve business and customer relationships.

Some quick facts about outsourcing:

• 27% of small businesses outsource customer service
• 92% of G2000 companies use IT outsourcing
• 59% of G2000 companies have a contract for business process outsourcing (BPO)

Now that you understand what lead gen outsourcing is, you may also be wondering how they accomplish their goals. An outsourced lead gen service uses a few tactics to provide results for clients. 

Through clearly defined target markets, data analysis, and performance metrics, a sales team can drive results. Yet even the most advanced lead generation service also relies on tried and tested methods such as cold calling and telemarketing. Read our blog post on the benefits of cold-calling and how effective they are for business.

The Benefits of Outsource Lead Generation

Of course, any service your company chooses to work with must be beneficial to overall success. Outsourcing lead generation is a powerful way to increase growth through increased revenue and helps scale a business effectively. There are also multiple other benefits that make the case for working with a lead gen service. 

These include but aren’t limited to the following:

• Saving money: working with an outsourced lead service means you don’t have to hire and train extra staff.
• Expert knowledge: Outsourced teams usually come with expert knowledge in a specific field and are highly skilled at what they do.
• Better lead quality: chasing leads can be a nightmare! An outsourced service will use all available tools to ensure only qualified and quality leads are chased.
• Quicker campaigns: a lead generation campaign can be launched pretty quickly compared to using an internal team.
• Wider reach: with lead gen outsourcing, you can potentially penetrate a wider market because of the specialised tools and technologies used.

Exploring Outsourcing Lead Generation Processes

It always helps to do due diligence when working with any partner, and lead generation outsourcing is no different. While all services might have your best interests at heart, unfortunately, they aren’t all at the same level of expertise, reputation and quality. 

So, it helps to ensure you understand what is involved when finding a quality service and how they also work in your interests. Here are some key aspects of the outsourcing lead generation process to consider:

• Find a suitable lead generation provider based on experience, quality, pricing, and even the technology they use. Quality lead conversion rates vary between 2% and 9%, but is industry-dependent.
• Analysing the strategies used by a partner, such as content, email and social marketing, with traditional tactics, including cold calling and telemarketing.
• A high-level provider will also filter leads based on specific factors such as whether they are a good fit, the budget they have and how they make decisions.
• Data is also a core part of modern lead generation. Accessing and using the right data correctly with metrics such as volume, conversion rates, and cost per lead is critical.

A lead gen service you work with must have demonstrable experience, or you are taking a bit of a gamble by hiring them. You can further check if they are a good fit by enquiring about the methods an outsourced lead generation team uses, such as the types of marketing they use and cold-calling tactics. However, quality services will also leverage advanced tools and technologies, including data analysis,  performance metrics and KPIs such as cost-per-lead,

How to Successfully Outsource Lead Generation Services

It can be time-consuming to find a reputable lead generation company, which can lead to choosing one that isn’t right for your business. Therefore, when outsourcing lead generation, you must ensure the service you decide upon is the most suitable for your company’s needs. 

Of course, there are barriers that you may not be aware of and pitfalls a business can find itself in. These include contracts for services that don’t work. So stay vigilant when you need to successfully outsource lead generation and, indeed, any other service as around 70% of lead generation campaigns may not achieve their desired results.

So, you have decided to outsource lead gen and are wondering how to go about it successfully. There are a few factors to consider, but don’t worry because we have them covered here. 

First, you must ensure any service you choose has a proven track record of success within your niche. You can ask for evidence of this and review customer testimonials. It also helps you outline a contract of service that clearly establishes what your company needs. 

Finally, your company must conduct regular reviews of the ongoing project to ensure results are being delivered.

Improving Business with Outsource Lead Generation

The whole point of hiring a lead gen service is to improve your overall business. This is done in various ways, such as analysis and marketing, as well as telemarketing and cold calling. However, any lead generation outsourcing project must have the best interests of your company at its core.

How does outsourcing help a business grow?

Outsourcing is popular these days, and for good reasons. By outsourcing specific tasks, your company can focus on its core commitments. This is because an external party will handle specialised skills and competencies on your behalf, freeing up resources.

Does lead generation help a business?

Lead generation helps businesses in numerous ways. The greatest of which is that it supplies a steady customer stream that can lead to more sales and growth. Additionally, when lead generation is handled expertly, it also provides customers who are likely to repeat business.

Why should my business outsource lead generation?

By accessing expert services such as lead generation, your company can focus on what it does best while accessing expert services and potentially more customers. But there are some other excellent reasons to outsource lead generation:

• Your business can scale up or down as needed.
• Streamlined lead generation often yields faster results.
• Results are data-driven based on metrics such as market trends.

However, it is also important to consider that you need to find the right lead generation agency. A good agency should have a proven track record of success in order to provide quality leads.

How can I measure the success of outsourced lead generation?

Measuring the success of a lead generation campaign relies on specific metrics and KPIs. The most widely used data comes from Cost-per-lead (CPOL), lead conversion rates, return on investment (ROI), sales growth and customer lifetime value (CLV). 

How do I choose a lead generation provider?

Finding a lead generation provider is like working with any other partner. For example, defining your target market through customer profiles and demographics is a good way to check they are capable. However, it also helps to ask about tools and technologies they use, as well as review testimonials.

Finding a high-quality lead generation provider can improve business in multiple ways, such as increased sales and scaling. This is because they offer expert services that work for you. You can measure success based on various metrics, but take the time to find a provider that works for your needs. 

Here are three vital questions to consider when looking for a lead generation provider:

1. What is the process for generating leads?
2. How do they verify lead quality and accuracy?
3. Can they provide examples of successful campaigns?

Mistakes to Avoid in Lead Generation Outsourcing

No lead generation outsourcing is without potential mistakes, but you can avoid most of them when you know what they are. Different vendors use a multitude of tactics, from CRM data analysis to cold calling. An understanding of how a service operates will help you make a more informed decision.

Not researching lead generation providers

It is a colossal mistake to choose a lead generation vendor without checking the experience and expertise of the service. A high-quality lead generation provider will be able to demonstrate a track record of clear results.

Failing to declare KPIs and metrics

Specific KPIs such as conversion rates and cost per lead are critical to an outsourced lead generation campaign. Without these, it will be pretty challenging to measure the success of a strategy that you are paying for.

Blocking vendors from accessing CRM data

An outsourced lead generation vendor needs certain data, including customer relationship management data. Without access to CRM tools, any outsourced service for lead generation will have challenges qualifying and nurturing leads.

Not managing the outsourced team

The lead generation vendor has certain responsibilities, but it is unwise to assume they will handle everything. They have their approach, and you have yours, so checking in is recommended. Ensure you check in with performance reviews and ask for and give feedback to improve the process.

The list of mistakes you can make when outsourcing lead generation is extensive. But most can be easily remedied. However, there are some critical issues when you outsource lead generation services that need to be avoided at all costs. These include not checking the reputation of a provider, poor metrics, the misuse of data and failure to review progress.

A Deep Dive into Outsourcing Lead Generation

So, now that you have a more comprehensive understanding of lead gen outsourcing, we can explore it further with a recap and some key takeaways. 

There will always be lingering questions that can’t really be answered until you engage with a lead-generation vendor in meaningful ways. Yet you can improve the chance of success when you have a wider understanding and aren’t going into it blindly. 

Here’s a quick deep dive into outsourced lead gen.

How lead gen outsourcing helps

Through research and an understanding of the audience, high-value prospects are engaged on your behalf. Therefore, lead generation outsourcing helps a business grow through increased sales, revenue and qualified customers. 

The benefits of outsourcing lead gen

Outsourcing lead generation comes with various advantages. First, your company will save money without the need to hire and train an in-house team. You also have access to expert knowledge in lead generation. This ensures quality leads are chased during efficient campaigns and potentially across a wider market segment.

The disadvantages of lead gen outsourcing

For all the remarkable benefits of outsourcing lead gen, there are a few cons to watch out for. First, you may not have as much control over a campaign as you would. Although this can be an advantage too. There could also be poor communication, leading to costly mistakes. And a lead provider may not have the expert knowledge of your specific niche.

Potential lead gen mistakes

While there are pros and cons of lead generation outsourcing, there are some common mistakes you can make. But when you know them, they can be avoided. The most common mistakes include not working with a reputable team, failing to provide adequate metrics, and not reviewing the work of the lead gen team. At The Lead Generation Company we recruit only the BEST people to achieve the BEST results for our client, click here to see our award-winning telemarketers.

Key Players in Outsource Lead Generation Services

As stated earlier, there are many outsourced lead generation services, but not all are equal. From how well they use data analysis tools to cold calling strategies, each lead generation company has its own way of doing things. Unfortunately, these may not work for your company’s specific needs or the requirements and expectations of a certain niche. 

So, who are the key players in lead generation outsourcing? There are many services to choose from, including these well-known services:

• CIENCE Technologies
• Martal Group
• Callbox Inc.
• Leadium
• Artisan AI
• Cognism
• AnswerConnect
• Soap Media

All these services are perfect for almost any lead-generation campaign. However, they may not offer the full suite of tools your next project needs. This is where we can help. At The Lead Generation Company, we have a proven track record in lead generation with a 98% data accuracy guarantee. So don’t wait around to start your next campaign. Call us on  0333 344 3470 today for a quick quote or request one via this form , and accelerate your sales goals.