Has your marketing funnel dried up? Is your sales team stranded in a barren desert of ‘not interested’ and ‘put me on your do-not-call list’? Two things – you are not alone; and it’s okay to ask for help.
With rapid advances in technology forcing every organization into an uncertain future, many companies benefit from choosing to outsource their lead generation. Prospects are now well-researched and knowledgeable, and batch-and-blast email and cold calling campaigns are no longer effective in the modern marketplace.
What was formerly the B2B sales cycle is now evolving into more of a collaborative effort or partnership between two companies; and due to the drastic changes in the buying process, it’s more important now than ever for prospects to be nurtured and qualified before being handed off to an Account Executive.
A company has two options when it comes to lead generation; they can either rely on their internal sales team or choose to outsource a proven, experienced company to hand them only vetted leads matching their target customer profile.
Outsourcing can be your company’s key to accelerating sales and increasing revenue; and according to a recent Bain study, 82% of large organizations in North America, Europe, and Asia view outsourcing as a mature and necessary function.
The reasons for outsourcing lead generation are aplenty – and they may differ depending on your business or vertical. Without further ado, here are the top five reasons to outsource your lead generation:
1. Make the most out of your martech
Most companies have some sort of marketing automation tool, but choosing to outsource your lead generation allows you to get the most out of your tool by combining marketing automation and the human touch.
The insights, automation, and lead scoring marketing automation brings us are game-changing – But wouldn’t leads determined to be ‘sales ready’ by marketing automation be more valuable if you were able to follow up on those leads precisely when a prospect is ready for a conversation?
The answer is yes – timing is everything, and research shows that to increase conversions, companies need to follow up in as soon as five minutes after a prospect reaches a certain lead-scoring threshold indicating they are ready for a conversation. Reaching out in real-time is resource intensive and requires scalability, and many companies find success outsourcing these tasks.
2. Empower and support your sales team
A State of Inbound report uncovered how 63% of companies report that their top marketing challenge is generating traffic and leads. And it’s no wonder – marketing automation, intent data, social selling, and account-based-marketing are a lot to digest, and they’re only a few of the strategies you must master in order to consistently generate quality leads for your sales team.
All of this cutting-edge sales and marketing mumbo-jumbo can seem overwhelming. Lead generation companies have more expertise in these technical areas, and expertise is precisely what your sales and marketing strategies need to be successful.
“I can’t wait to start cold calling” – said no one ever. Trust me, your internal sales team will love you if you relieve them of this daunting task. Instead, imagine full schedules of phone calls, face-to-face appointments, and product demonstrations being systematically fed to your sales team by your outsourced provider.
By outsourcing your lead generation, you can effectively set your sales team up for success. They can then shift their focus to converting quality, qualified leads that perfectly fit your ideal customer profile.
3. Realize your full potential
According to Bright Talk, “Lack of resources such as staff, funding, and time remains the biggest obstacle to successful lead generation efforts for 61% of B2B marketers.” Outsourcing can enable you to grow your business exponentially faster than you otherwise would be able to when utilizing your own internal resources.
Start-ups or companies with limited budgets cannot afford to hire the sales and marketing staff required to generate thousands of new leads. When you outsource your lead generation, you are instantly provided with a team of experts dedicated to your company’s growth.
If lack of people, time, or knowledge slows timely lead qualification, rapid growth, expansion into new territories, or goal or revenue attainment, you’re probably ready to consider an outsourced sales and marketing partner.
4. Save time & money
Your sales team can dedicate 100% of their time to your company’s mission rather than endless hours prospecting and cold calling. Let your sales team spend more time doing what they do best – closing deals. Outsourced agents will spend their days focused on lead development, appointment setting, and event recruitment on your behalf.
Time that your sales team would otherwise spend filling their pipelines can be re-allocated to what’s important. A schedule full of sales-ready leads will substantially increase both your Account Executive’s productivity and your company’s net revenue.
The fiscal impact of outsourcing your company’s Lead Generation cannot be overstated. Notoriously high turnover rates for internal sales staff, costs of onboarding, and employee benefits are but a few examples of what makes an internal lead generation team so incredibly expensive.
Looking at the billions of dollars companies spend on sales and marketing each year, ROI is dramatically increased when a company chooses to outsource their lead generation.
5. Close more deals
Closed deals are what keep your company going and growing. Increasing the size of your marketing funnel will lead to more opportunities in your pipeline, which will inevitably equate to more closed won business for your company. However, your outsourced provider should not only fill the top of your funnel with leads, they must also be there to ensure those leads are qualified and nurtured.
According to Marketo’s Definitive Guide to Lead Nurturing, 79% of marketing leads never convert into sales, often due to a lack of lead nurturing. Successfully closing deals requires a multi-touch approach to initiate contact with leads, manage them, and nurture them before passing them off to sales.
Not having the right team in place to successfully work leads from first contact to close will cost you opportunities and revenue. Yet, staffing your in-house team to meet these needs and increase sales may cost you more.
Outsourcing a team of skilled and talented lead development experts can quickly set up your sales team for success. You can leapfrog over those pesky delays and tap advanced expertise on day one.
It’s important to note that a team of outsourced lead development agents are only one component of a successful sales strategy. For best results, utilize them as part of an integrated marketing approach – including content creation, building marketing automation nurture campaigns, and data services–all to support lead generation efforts that reach your total addressable market.
No matter the vertical or the size of the company, outsourcing lead generation is proving to be hugely valuable. It is guaranteed to be effective for any company that wishes to grow and realize their full potential.