Tag: Business Services
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.
Growing Your Business Through Outsourcing – The Entrepreneurs Dream
Maybe you started by selling home goods from your garage on eBay or maybe you’re running your own marketing campaign for the release of a new menu item at your restaurant.
Whatever it may be, business is busier than ever, and you can’t be expected to complete all of the tasks required to keep you up to speed.
Like many entrepreneurs, when your business develops a steady flow of customers and you start to make new additions to your company, you might find yourself spread quite thin and entering realms of business that you aren’t particularly knowledgeable in. Many entrepreneurs tackle this challenge by hiring employees to take on specific tasks to allow the business to grow further. In some cases, these employees directly while other businesses might work on-site while other businesses might find that they benefit greatly from business process outsourcing.
Business process outsourcing describes the model where a business owner or representative contracts out work to individuals who specialize in a specific area of work. These individuals might offer long-term or one-time while located somewhere outside of the main business office.
Outsourcing is a popular method of business development because it allows entrepreneurs to hand tasks off to individuals who are already knowledgeable about their line of work, so they can effectively complete tasks. These individuals can focus on one facet of the business without spending time on understanding the roles of all the other employees. This allows for efficient work and refined results.
Here is a list of outsourcing myths that need to die.
One of the main concerns about outsourcing is the challenge of communication between the off-site worker and individuals at the home office.
In reality, there is a stronger flow of communication between workers because of this concern. Business owners are forced to master skills in online and over-the-phone communication in order to properly train and direct contractors.
The business owners who are the most successful communicators are able to establish more consistent and effective training models.
In some cases, outsourcing might just mean having one or more locations outside of the main office or hiring an individual who is located nearby. You might benefit from hiring someone close because you are able to have regular physical check-ins and can go over work with the contractor with a lower risk for confusion and misunderstandings. The contractor is still off-site, so his or her work doesn’t have to be your top priority. You can be stricter with deadlines, and you won’t be worried about small issues in their work process when the final product is presented.
One of the main concerns about outsourcing is the challenge of communication between the off-site worker and individuals at the home office. The reality is, business owners step up to the plate and become experts at communication.
Unlike most employees who might be unfamiliar with your specific business structure and require extensive training, contractors are accustomed to the changing styles and needs of different business owners. These workers have likely experienced similar working patterns, so they know how to adjust their work to fit your business’s specific needs. They can also draw from their past experience to offer you higher quality work in a shorter period of time.
If you’re currently working with a minimal number of on-site employees–it might even just be you behind the curtain, working in every department of your business–you might be worried about the extra expenses of hiring off-site help.
When it comes to your business, you’re going to have to hire some kind of help if you hope to expand your client base and the company overall. Outsourcing is one of the least expensive ways to do it.
Most likely, only need the outsourced employee to complete a specific series of tasks. You might agree to an allotted amount of time for this project or a fixed rate. This way, the employee must make specific time to complete the project, but you don’t need to worry about overtime or paying for time that doesn’t account for the project.
Not sure what kind of projects can be outsourced? Start with the tasks that you are least experienced in. Freelancers offer a variety of skills that you can tap into, so you don’t have to become a master writer or web developer to keep your business relevant. Copywriting for websites, social media management, customer service inquiries, and bookkeeping is all areas of work that you can outsource to third parties.
As your business gets bigger, it becomes your job to delegate work and focus on the main goals of your company. Outsourcing is one of the easiest and most effective ways to start expanding. You can develop lasting relationships with individuals who you work well with while receiving exceptional work for reasonable costs.
The Balance: Tips for outsourcing projects successfully.