Lead Generation is not the responsibility of the Sales team. This statement may come as a shock but companies who expect their sales team to do lead generation, see a higher attrition rate in their sales team, a larger strength of sales team and in addition see a higher cost of conversion.
Additionally, the organization needs to invest in multiple database platforms for getting relevant information about the target audience. The result, overall cost of sales increases and the margins take a hit.
Outsourcing your lead generation is a not a new concept, lead generation requires a dedicated and relentless following, a specialized team which can act as your extended partner and a committed set of resources who follow up and use different tactics to get in front of the relevant target audience.
The outsourcing lead generation partner can not only take away the pressure from your sales team and help you build a steady pipeline, but they can also help you in multiple other ways. Three possible ways are listed below:
Give you strategic insights
When your sales team speaks with your potential clients, they carry a bias, they are bringing an inside out view to your customers and a certain perception during the conversations. On the contrary a lead generation vendor working as your extended team comes in without a bias.
They are looking for cues that your potential customers are giving and trying to match it with your service offerings. Their questions are more inquisitive, and they are listening trying to find the answers that can help them convert this conversation into a meeting.
In addition, a lot of these questions are structurally captured by a lead generation vendor as their processes are well defined and when this data is compiled it can give you a lot of insights on what your target accounts are doing.
When your sales team will focus on doing lead generation activities, they are simultaneously doing multiple activities, there focus is more on sales closures, speaking with potential customers, who are higher up in their decision-making journey and giving presentations and responding to proposals and so on.
The potential customers who are in the early stages of the decision-making cycle are dropped due to lack of time and the effort needed for converting them or taking them through the decision-making cycle. An outsourcing lead generation partner can take over that effort.
As it is in their favour to convert every possible opportunity, they are more than willing to take effort to nurture them and convert into qualified leads which can be passed onto sales. As per statistics Lead nurturing can increase closure between 20 to 50 % at one third the cost of sales.
Managing and updating your contacts database is an uphill task. Large organizations have a small team dedicated to only updating the database and keeping a track of people who have moved from the organization and where they have joined.
The outsourcing lead generation partner can help you update the CRM as they make calls or use email campaigns to reach out to these contacts. This updated database can help you tremendously in marketing campaigns / email campaigns and even running offline campaigns.
In addition, your outsourcing lead generation partner can also enter strategic insights such as competitors they are working with or when is the contract up for renewal or other inputs in the CRM which can help a sales person when following up or speaking with a contact.
These are just a few benefits that an outsourcing lead generation partner can provide.
Beyond Codes has been a leader in B2B Demand Generation, Appointment setting and lead generation services. With clients across IT / ITeS and Product companies our comprehensive lead generation services have helped companies scale up without investing in a large marketing and demand generation team.