This article introduces you to the lead generation outsourcing process, highlights its benefits, and discusses its challenges. It also suggests some of the best lead generation agencies to help your business thrive.
Table of Contents
- What Is Lead Generation Outsourcing?
- Tips for a Successful Lead Generation Outsourcing
- Benefits of Lead Generation Outsourcing
- Challenges in B2B Lead Generation Outsourcing
- Things to Consider in B2B Lead Generation Outsourcing
- How Much Does It Cost to Outsource Lead Generation?
- Best Lead Generation Agencies to Hire in 2024
- Improve Your Bottom Line With Lead Generation Outsourcing
- Lead Generation Outsourcing FAQs
What Is Lead Generation Outsourcing?
Lead generation outsourcing refers to hiring an external company to help generate leads for a business. The outsourced lead generation provider uses various marketing strategies and techniques to attract potential customers and collect their contact information, such as names, email addresses, phone numbers, and other relevant data.
To effectively generate leads in digital marketing, it's not enough to reach out to potential customers through a few channels and follow up with a phone call. Customers are selective and tune out communications that don't relate to their specific needs, goals, and challenges.
Outsourcing brings in the necessary marketing, sales, and business development expertise to get your desired results.
Tips for a Successful Lead Generation Outsourcing
- Specify the Primary Needs
- Utilize Email Marketing
- Invest in a Trustworthy Service
- Monitor Campaign Progress
To increase the chances for lead generation outsourcing success, consider the following suggestions:
1. Specify the Primary Needs
Searching for high-quality leads can be time-consuming and laborious. Time is a resource that can be conserved by employing experts. To find the most promising customers, your company will benefit from the assistance of sales development specialists.
2. Utilize Email Marketing
Although some consider it outdated, email marketing is a powerful and cost-effective method for generating new leads, regardless of the size of your company. Opt-in email marketing should be a top consideration. To achieve your lead generation goals, your firm must understand the importance and best practices of B2B email marketing.
3. Invest in a Trustworthy Service
Verify provider's material standards meet your requirements. Research how they interact with customers and other businesses on social media. Go through reviews on their websites and Google business profiles to see previous clients’ feedback.
4. Monitor Campaign Progress
Your campaign's success or failure depends on the quality of the clues you follow. Outsourcing lead generation frees up much of your time, but you must monitor how things run. Make sure the solution for generating leads is suitable for your purposes.
Benefits of Lead Generation Outsourcing
- More Time for Core Business Activities
- Access to the Appropriate Tools
- Shorter Notice Period
- Lower Expenses
- Clearer Picture of Your Progress and Success
Outsourcing your lead generation can save you time and help you increase revenue. Benefits it brings include:
1. More Time for Core Business Activities
Managing a sales team is a time-consuming process that involves hiring, training, motivating, and recognizing employees. Outsourcing B2B lead generation can free up time and resources that you can use for other critical projects, like developing a marketing strategy for a new product or service in an industry with high employee turnover.
2. Access to the Appropriate Tools
Lead generation requires lead tracking and call monitoring software — and employees who know how to use it. Working with an outsourced sales team means they'll already have the necessary tools, including closed-loop feedback on which value propositions connect effectively with your target demographic.
3. Shorter Notice Period
Building an employment base and a reputation for excellence takes time, whether you're launching a new sales campaign or a brand-new company. Among these tasks is building your sales infrastructure. If you hire a staff to do the work for you, you may get ready to launch in a fraction of the time.
4. Lower Expenses
Sales-focused businesses have systems to ensure that they're employing the most qualified candidates, and their entire operation revolves around finding, recruiting, and developing sales talent. Working with a company with established hiring and training procedures will save you money compared to developing your own.
5. Clearer Picture of Your Progress and Success
When you outsource B2B lead generation, you'll be working with a skilled sales staff that can assist you in developing metrics to gauge the performance of your lead generation campaign. However, you'll still need to consider what your team finds suitable.
Challenges in B2B Lead Generation Outsourcing
Some challenges you might encounter when outsourcing lead generation include:
- Quality control. The outsourced lead generation provider may not completely understand your business, target audience, and unique selling proposition. Therefore, the leads they generate might not be the most quality ones.
- Communication. Your lead generation provider must understand your business to attract the right prospects. If you hire an offshore outsourcing company, you could face language barriers or a lack of regular communication.
- Data security. Sharing confidential business information with a third-party provider can threaten data security and privacy. To avoid it, ensure the outsourcing provider has robust security protocols.
- Integration. Integrating the outsourced lead generation process with the business's sales and marketing strategies can be challenging, and achieving the desired results may take some time.
Overall, B2B lead generation outsourcing can be effective if executed properly and carefully considering these potential challenges.
Things to Consider in B2B Lead Generation Outsourcing
B2B lead generation outsourcing can be a valuable strategy for businesses, but before deciding, consider these factors:
- Business objectives: Define SMART business goals and objectives for outsourcing B2B lead generation, such as increasing sales by 10% in two months, expanding the customer base, or boosting brand awareness.
- Provider’s expertise & portfolio: Evaluate the outsourcing provider's experience and expertise in B2B lead generation and ensure they can provide quality results that align with your business goals.
- Communication approach: Ensure regular communication with the outsourcing provider to align expectations, discuss progress, and address concerns or issues.
- Data security: Check the outsourcing provider's data security protocols and ensure they can protect your confidential business information.
- Integration & alignment: Ensure the outsourced lead generation process is integrated with your overall sales and marketing strategies to maximize effectiveness.
- Cost: Compare the price of outsourcing lead generation to in-house efforts to ensure cost-effectiveness. Consider the potential ROI and how outsourcing can help your business save time and resources.
How Much Does It Cost to Outsource Lead Generation?
Several factors influence the total cost of outsourcing lead generation:
- Lead generation channel (e.g., email, telemarketing, social media)
- List purchase or renting fees for third-party data
- Media distribution costs to reach the target audience
- Incentives for high-value prospects
- Campaign design and development costs
- Labor costs for managing the lead generation process
- Other miscellaneous costs, such as tools, software, and additional services.
You can use two metrics to calculate the cost of lead generation:
1. Cost-Per-Lead (CPL)
To calculate CPL, divide the total marketing campaign cost by the number of leads generated. For example, if you invested $1000 in a lead generation campaign and acquired 200 leads, the cost per lead is $5 (1000/200=5)
2. The Average Cost-Per-Lead
Average CPL varies between $31 and $208, depending on the industry, with the non-profit industries having the lowest and technology companies having the highest CPL.
Best Lead Generation Agencies to Hire in 2024
Our agency experts have chosen top-performing lead-generating agencies you can hire in 2023:
1. EmailMiners
- Location: S.NO.65, Handewadi Rd, Pune, Maharashtra, Pune, 411028, India
- Average Hourly Rate: $20/hr
- Expertise: Lead Generation, B2B Digital Marketing, Digital Strategy, Appointment Setting, Email Marketing, Digital Marketing for Start-ups, Social Media Marketing, Small Business Consulting, Business Consulting, Outsourcing Software Development, Software Development, Mobile App Development.
Based out of India, EmailMiners is one of the best B2B Lead Generation agencies specializing in digital marketing, digital strategy, email marketing, social media marketing, software development and mobile app development (among others).
First opening its doors in 2020, EmailMiners has since helped its clients fill their calendars to the brim by applying its expert knowledge in Sniper Targeted Prospecting, LinkedIn Lead Generation System, & Cold Email Machine. Let them handle all your outbound email lead generation and sales and build large prospect lists for your specific industry trends and target market.
Some of EmailMiners most notable clients include Amazon, BoardBooKit and Coding Lab.
2. Bora Design
- Location: Xaló, Valencia, 03727, Spain
- Average Hourly Rate: $75/hr
- Expertise: SEO, Social Media Marketing, Cybersecurity, Lead Generation.
Bora Design is a leading, Spain-based cybersecurity marketing firm and lead generation agency with over 20 years of experience in the industry. They provide quality social media marketing, SEO, cybersecurity, and lead generation services to a host of clients.
A lot has changed in the past two decades that Bora Design has been operating. New technologies have been introduced that have changed the way our lives are lived digitally such as IoT devices, end-to-end encryption systems, GDPR laws, etc. These changes have ushered in new challenges that need strategic thinking and foresight to keep up with, all of which are exactly what Bora Design specializes in.
Working with major cybersecurity brands (such as Cisco, Tripwire, Thales, and Cybereason), Bora Design promises growth and high-quality sales leads.
3. AdvanceGro Marketing Group
- Location: King Street, St. Stephen, New Brunswick, E5A 1L1, Canada
- Average Hourly Rate: Inquire
- Expertise: Web Design, SEO, Social Media Marketing, Email Marketing, Lead Generation
Since 2015, AdvanceGro has assisted businesses in promoting their offerings and reaching broad audiences.
The agency boasts trend-setting ideas, an innovative workforce and round-the-clock dedicated support. A 15-minute discovery session with a lead manager ensures that they understand the business's needs and provide quality leads for different verticals. Aside from lead generation, AdvanceGro also specializes in social media marketing and web development.
The agency's clients include Brettlynn Farms, Purple Shield and Titan Health Center.
4. FastEmailLeads
- Location: 700 N. Colorado Blvd. Suite 727, Denver, Colorado 80206, United States
- Average Hourly Rate: Inquire.
- Expertise: 360° Digital Services and Lead Generation.
FastEmailLeads is a Denver, Colorado-based Lead Generation Agency that has been in business since 2010.
FastEmailLeads provides its clients with comprehensive 360° Digital Services and Email Lead Generation solutions. FastEmailLeads' clients are provided with user credentials to log into their accounts and access fresh leads daily. On top of that, FastEmailLeads also offers an automated service called AutoLoad, which uploads your email leads into any autoresponder equipped with an import or upload feature.
FastEmailLeads provides its clients with a solution that is fast, reliable, and cost-effective. Offering the most up-to-date data sources available, and allowing its clients to access the highest quality leads with ease. FastEmailLeads knows that time is money and focuses on providing its clients with a flexible, efficient solution for meeting their email lead generation needs.
5. Parasol Media
- Location: 4894 Sparks Blvd, Sparks, Nevada 89436, United States
- Average Hourly Rate: Inquire.
- Expertise: Digital Advertising, Lead Generation, Media Buying...
At Parasol Media, they understand that clients can’t afford to lose time or money chasing after rehashed, recycled leads. Let their organic insurance leads acquisition service make your job easier and the time spent contacting leads much more fruitful.
Parasol Media is proud to have received the A+ Rating from the Better Business Bureau proving that they do what they say they will do, which is offer high-quality, organic insurance leads while providing the best in customer service.
Improve Your Bottom Line With Lead Generation Outsourcing
Lead generation outsourcing is not a walk in the park — it entails a lot of research, time, and effort to land the best team that best meets your unique business goals and needs.
After understanding its benefits, the challenges you may encounter, and the appropriate agencies, hiring your outsourced partner will be a breeze.
Lead Generation Outsourcing FAQs
1. Is it better to outsource lead generation?
Outsourcing lead generation can be a time-saving and cost-effective way to generate new prospects; you’re hiring experts in sales and marketing to attract high-quality leads to your business, while your in-house teams can dedicate themselves to core business activities.
2. What does a lead generation agency do?
Lead generation agency researches your target audience and gathers its data to develop messaging that resonates with their needs and pain points and attracts them to your business.
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