Lead Generation: A Beginner’s Guide to Outsourcing Lead Gen
Lead Generation is the process of acquiring and fostering highly qualified leads for your business. Although you may not have considered it before, moving your lead generation to an organisation that has the tools to effectively do it, guarantees and increase contact and conversion rates. It means that you are giving the responsibility to experts in the field who have access to the right knowledge and tools. The leads they deliver to you are likely to have a better chance of converting to contracts and sales.
How though, do you outsource your lead generation? In the following article we will highlight 5 key tips for doing this the right way.
Find the Best Partner
The best way to find the right lead generation company, like any other outsourced partner, is through word-of-mouth recommendations from business contacts and associates. There are quite a few websites that aim to connect outsourcing agencies with businesses. When determining if a partner is right for you, look at their background and ask them for some samples of the work they carried out for previous or existing clients.
Draft a Detailed Contract
In order to ensure your partnership works, make sure that you draft a detailed contract that outlines the specifics of what you expect from the lead generation agency. Include everything from the cost and scope of the work, to the management and disengagement plan. Misunderstandings can arise as a result of failing to provide all the necessary details and instructions. At OnSource, we separate out lead generation into do different segments. Lead prospecting and lead fostering. Lead prospecting brings highly-targeted leads to your inside sales reps to manage, while lead fostering establishes the initial contact, finds the decision maker and prequalifies them. The later is sometimes referred to as “Appointment Setting”.
Ensure They Will Provide You With End-To-End Solutions
There needs to be a full end-to-end solution for outsourcing to ensure that all tasks are completed. This also allows for the biggest amount of outputs to be used for the lowest cost, because it decreases the number of employees required.
Consider how valuable a longer-term approach to nurturing leads will be for your business. Also, look into the number of a prospective lead generation company’s clients that have closed deals in the last phase that were based on leads that were outsourced.
Manage Your Expectations
You need to develop practical expectations when it comes to the return on investment you are looking for. Remember, the expectations are determined by the kind of leads you opt for. While you wait a long time for the ROI on the top funnel leads, you can establish a way to gain and give feedback about the quality and value of the leads you receive. Bear in mind also, that even if the ROI is negative or low, it doesn’t mean you should immediately drop outsourcing as a form of lead generation.
Analyse the Results
Always make sure that the levels of your service are outlined in business terms. Evaluate new opportunities, ideas and initiatives with partners with a fixed basis in mind. Identify by how much your relationship with an outsourcing agency has increased the time-to-market, quality and efficiency of your business.
Also, measure and fully describe the lead generation and relationship processes. Always update the company on how good or bad the lead they generated was. Both the positive and negative feedback can help the company provide you with better leads in future.
Looking to generate more leads for your business? We can help. Contact us for a 10 minute business evaluation.