Consistent lead generation is a lifeline of every business aiming to grow. Sometimes, the in-house lead generation team lacks in experience and understanding to successfully implement the ICP based marketing campaigns.
Every B2B business wants more customers and this is an ongoing struggle. Outsourced lead generation is a considerable alternative that can keep the sales pipeline running.
Outsourcing lead generation reduces the cost by up to 50% with an improved conversion rate. Here is how it can be helpful in your business growth.
Take Away:
“Outsourcing lead generation is a marketing strategy where a business decides to hire an external agency or firm instead of building an in-house team for their lead generation needs. It drives quick results and gives scaling flexibility. Businesses outsource their lead gen efforts to minimize the workload from internal teams. It is easy to manage the performance with marketing automation systems and tools. However, any miss calibration among teams can affect the results, and the quality of lead may be reduced.”
What Is Outsourced Lead Generation?
It is a process to outsource the potential customer’s identification, attraction, and qualification work. It is necessary if the business is only driving customers through outbound marketing methods.
B2B businesses hire external service providers and agencies for their lead gen demands. These companies hold industry-specific expertise, portfolios, marketing tools, and other resources.
Here are some key elements a business can outsource its lead generation work.
Identify Target Audience
The lead generation outsourcing services providers conduct detailed market research to build a good ICP.
Marketing Campaigns
Once the audience persona is established they use various marketing strategies (SEO, PPC, Social Media) to generate leads.
Lead Qualification
This step involves the qualification of leads as per the ICP. Those who don’t meet the criteria are dropped from the list for conversion rate optimization.
Lead Nurturing
It is the process of nurturing leads through calls, personalized content, and emails. SQLs are further passed through the sales funnel.
Difference Between In-house And Outsourced Lead Generation
In-House Lead Generation
Establishing an in-house lead generation setup, hiring the staff, and task them to generate leads for your business.
Outsourced Lead Generation
Hiring a lead generation agency that has a significant portfolio in your niche market or industry.
Generally Outsourced Lead Generation Services
Lead generation outsourcing companies offer customized plans for targeted and omnichannel marketing campaigns. Here are some primarily outsourced lead generation services by B2B businesses.
- Telemarketing and cold calling
- Email marketing campaigns
- Content distribution and marketing
- Search engine optimization
- Social media marketing
- PPC advertising campaigns
- Market research
- Data enrichment and verification
- Appointments booking
Should You Outsource Lead Generation?
Lead generation is a definite challenge for B2B marketers. It is hard to decide whether to go with an in-house team or outsource to external agencies. B2B lead generation outsourcing, if done right drives promising results.
The final call for outsourcing must come after reviewing its pros and cons. Here are some benefits and challenges of outsourced b2b lead generation, a business leader must understand.
Benefits of Outsourced Lead Generation
Lead generation outsourcing carries several advantages for businesses including better efficiency and results. Here are some of them explained:
Cost-Effectiveness
There are a lot of overhead costs to maintain an in-house lead generation team. Which involves hiring, training, and handling of additional workforce.
Businesses can save their money on additional expenses like salaries, incentives, office space rent, and equipment required.
Lead generation outsourcing providers utilize bulk marketing resources in their workflow. The in-house operation needs an additional budget for all this. Because they work with multiple clients simultaneously, their costs are reduced compared to the dedicated marketing team.
Many lead generation agencies work on pay per performance business model. This means you only gonna pay once a specified milestone is achieved or leads are generated.
Quality Talent and Resources
Lead gen service providers have dedicated and industry-specific talent. They are well aware of the latest marketing trends and strategies to maximize the outcomes. Sophisticated tools and resources are used to streamline the process.
Their marketing teams use advanced CRMs and automation tools for in-depth data analysis. Which is a costly subject for a startup struggling to raise venture capital.
Flexibility and Scalability
Lead-gen outsourcing gives complete flexibility and scalability in terms of requirements. You can hire an agency for a large-scale campaign or ask for a targeted prospect. They can easily place the team and resources accordingly.
You can pause or speed up the efforts at any point with quick compliance. Lead generation agencies have customized solutions for every type of business.
quick Processes And Results
Lead generation companies have a complete process in place with customized strategies. Which produces quick results as compared to a newly created in-house team. That needs some time to sync the efforts and strategies with marketing objectives.
They are more concerned about deadlines and targets set in their contract. If one team is underperforming they have options to switch and deliver satisfactory results to the customers.
Focus on Core Business Pursuits
By outsourcing lead gen businesses can free up their resources to concentrate on other significant pursuits including development, customer support, and sales.
It reduces the workload from internal teams which adds more productivity. The core management team can spend this time on business planning, growth, and important decision-making.
Challenges And Solutions In Outsourced Lead Generation
Lead generation outsourcing comes with some challenges and you need to prepare yourself for every kind of situation.
quality Control
Problem: Any mismatch or inefficiency can affect the quality of leads. None of the agencies claim super perfection as there may be some human or systemic flaws.
Solution: Place a strict vetting process in agency selection and give clear requirements. Monitor the quality of leads delivered and don’t hesitate to give feedback if they are not meeting the set criteria.
Integration With Sales Processes
Problem: It is necessary to integrate outsourced lead generation with your existing sales and marketing workflow. To be honest it is not that easy!
Solution: Clarify the roles among both teams. Integrate them into your CRM and perform dry testing to identify any deficiencies.
Communication barriers
Problem: There may arise several communication barriers like language, time zone differences, and incompatibility of tools.
Solution: Use effective collaboration and communication tools to establish communication between both teams. Take weekly updates and arrange meetings to discuss the performance.
Deliverables Clarity
Problem: Misalignment of objectives and over-expectations can lead to dissatisfaction.
Solution: Include the realistic goals and deliverables in the contract document. Regularly communicate with the team leads to rectify the issues impacting campaign performance.
Cost Of Lead Generation Outsourcing
Lead generation agencies have different pricing brackets as per their client budgets. If you are looking for more refined leads, it will increase the cost. There are several factors involved in deciding the cost of outsourced lead generation.
- The industry or market required
- Quality of leads
- Lead value
- Total addressable market
- Competition in the industry
- Lifetime customer value
Low-quality prospects have lesser odds of conversion. The cost per lead generation may be higher for a business having a smaller TAM.
Agencies handling operations from the US or Canada charge more as compared to other regions. Cost of living, incentives, and business operations are the ultimate reasons.
| Industry | Average Cost Per Lead |
|---|---|
| Technology | $208 |
| Healthcare | $162 |
| Finance | $160 |
| Manufacturing | $136 |
| Business Services | $132 |
| Travel And Tourism | $106 |
| Media And Publishing | $108 |
| Consumer Products | $105 |
| Marketing | $99 |
| Education | $55 |
| Telecom | $45 |
| Retail | $34 |
| Non-Profits | $31 |
Tips to Choose Lead Generation Outsourcing Agencies
Every lead generation agency works in a targeted niche market. For example financial services, real estate, and moving lead generation services.
Here are some tips for choosing a good lead generation outsourcing company.
Specify Your Business Objectives
Clear business objectives are necessary to choose a lead generation service provider. It can be quick leads, high volume, and quality. Then build a solid ICP and identify your target audience like CMOs of financial companies, real estate agents in Washington DC, etc.
Establish your potential customer profile based on interest, demographics, and problems to be addressed. Then reach out to an outsourcing company that aligns with your marketing objectives.
Lead generation is a costly matter and requires a healthy budget to accomplish growth aims. Every agency has its own pricing plan and some create a customized one as per the client requirements.
You should also decide the scope of services while shortlisting B2B lead generation outsourcing companies. Some companies only focus few marketing areas like social media, LinkedIn and PPC ads.
Research potential Outsourcing Agencies
Look for agencies that have a solid online presence, reputation, and exceptional track record. Go through business directories, review websites, and online marketplaces to dig out reliable outsourcing companies.
Go through their website if they are accepting clients from your industry. Check their reviews, testimonials, and recommendations on third-party websites. Connect with their featured customers to get first-hand information and the quality of services delivered.
their Experience And Past Work
Check their practical understanding of the lead generation and results achieved for past clients. Scan through their portfolio and read case studies before making a decision.
Consider the years in business and team strength as key factors. A stable outsourcing agency performs better than a confused one. From the certifications to project handling everything counts.
Strategies Used In The Process
Which lead generation strategies do they use? Generic ones or customized as per the business requirements. An agency that uses data-driven and innovative approaches in lead generation delivers much more satisfactory results.
Data collection and analysis is very important. Do they have adequate lead generation tools, resources, and CRM systems? They should also be transparent in their process and reporting.
Pricing Plans
Either on per lead basis or flat fees, the service provider must have a clear pricing structure. The right pricing plan should align with your business objectives and allocated marketing budget.
If they are offering cheap options, you may have to compromise on the quality of the leads delivered. Do they value for money? Businesses spend more if they get better-qualified leads.
Be Careful while Contracting
You should carefully review the contract terms, duration of work, and termination clauses. Do they charge any hidden fees? Everything will be cited in their contract so read it.
Avoid creating a long-term contract without testing their performance. Some agencies give trial offers so go for it. Pilot projects are another good option before considering a long-term commitment that can have some legal challenges if terminated.
How to Successfully Implement Lead Generation Outsourcing?
Successful B2B lead generation outsourcing requires sufficient planning and the right execution. Here few steps to implement B2B outsourced lead generation.
Set Clear Goals And Objectives
Your lead generation objectives should be smart and provide clear direction to the outsourcing company. They must be:
- Time-bound
- Specific and relevant
- Achievable
- Measurable
Collaboration And Communication
Business success is largely dependent on collaboration and communication. Set the clear channels between the outsourcing agency and your team handling this prospect.
Convey them to regularly hold meetings and share your feedback. Share all the necessary details before the project commencement including ICP, business objectives, and your expectations.
Detailed lead Generation Outsourcing Plan
Even if the marketing campaign may not go as planned still there should be a detailed lead generation plan. Try to address the following points in it:
- Project timelines
- Preferred strategies
- Type of leads required
- Marketing channels
- Content to be used
Analyze the Performance
Some KPIs should be in place to measure the performance of B2B lead generation outsourcing campaigns. For example the quality of leads coming, conversion rate, and most importantly the ROI.
Ask the outsourcing partner for detailed weekly, biweekly, and monthly reports. Review them thoroughly to track the analytics and campaign performance.
Reconsider your Strategies With Time
A data-driven course lets you excel in the long run. Adjust your strategies to stay aligned with the latest technology and market trends after some time. Be adaptable to innovations and integrate automation into your workflow.
Evaluate The Return On Investment
ROI should be evaluated along with the average cost per lead. Are you making enough revenue? If yes, what is the return on investment?
For example, your business objective is to get some yearly subscriptions for your SaaS product. But get only free trial sign-ups and they quit after one or two months journey.
Tools and Systems For Lead Generation Outsourcing
Lead generation processes have become much more effortless with systems, particularly with the evolution of AI and Machine Learning. Here are some tools that add worth to your efforts.
CRM systems
These systems help you collect, manage, and interact with potential customers. Customer Relationship Management tools are used to organize the data and sales activities.
They give valuable insights into customer activities and sales performance. HubSpot, SalesForce, and Zoho are the most popular CRMs.
marketing Automation Tools
These tools help marketers automate repetitive tasks lead nurturing email campaigns and content distribution. They enhance team efficiency and give more personalization options.
Marketing automation tools give detailed analytics without any third-party reliance. MailChimp, Instantly, and ActiveCampaign are a few popular examples.
Data Analytics Platforms
These platforms help marketing agencies collect and analyze data at a large scale. Data analytics tools aid in measuring the campaign performance and make informed decisions.
They also have advanced audience segmentation and lead-scoring options. Google Analytics (free), Power BI, and Tableau are some examples of data analytics platforms.
Communication And Collaboration Tools
Communication and collaboration tools are necessary to build seamless coordination among both teams. Project management tools like Slack, Asana, Microsoft Teams, and Trello can increase their productivity.
Future Trends In Outsourced Lead Generation
Businesses are widely adopting AI and ML for predictive analysis, personalization, and automating the lead gen processes. They can help in increasing engagement and improve conversion rates.
Omni-channel marketing strategies are already in place and more companies are adopting them. Integration of all channels in the same place gives ease of access and management.
Data protection and privacy regulations are getting tough. Strict data protection and compliance are a must now. GDPR and CCPA are one of the key instances.
5 Best Outsourced Lead Generation Companies
There are thousands of options out there to outsource your lead gen needs. Clutch is one reliable source to find lead generation companies. We have shortlisted 5 best service providers.
1. Belkins
Belkins is a well-reputed B2B lead generation agency that offers outsourcing services to startups, SMBs, and enterprises. It provides ROI-focused lead acquisition services including:
- Appointment booking
- Cold email outreach
- Account-based marketing
- LinkedIn lead generation
- Intent-based cold calling
They work with clients from multiple industries through omnichannel custom quotes. You can learn more about the processes from their website. (belkins.io)
2. Callbox
Callbox is an award-winning company that is a good option to outsource B2B lead generation services. It also offers a wide range of services including:
- B2B lead generation
- Event marketing services
- Cross border marketing
- B2B sales data
- Webinar marketing services
This agency has been in business for the last two decades and offers flexible pricing options for all sorts of businesses. Reach out to their website for more information. (callboxinc.com)
3. Cleverly
Cleverly is a lead generation agency that primarily focuses on LinkedIn prospecting. This B2B marketing agency has earned a good online reputation and delivers promising results. Their focus areas include:
- LinkedIn lead generation
- Cold email marketing
- LinkedIn paid advertising
- LinkedIn recruiting services
- White-label lead generation
Its LinkedIn outreach pricing plans start from $397/month. To learn more about their services reach out to the official website. (cleverly.co)
4. Martal Group
Martal is a Canada-based marketing agency that offers outsourced lead generation services to more than a dozen industries. With more than 15 years in business and an experienced team, it has much more to offer including:
- Sales outsourcing service
- Lead generation
- B2B appointment scheduling
This lead generation company has tiered pricing plans with scaling flexibility. You can check out more about their portfolio and case studies on the official website. (martal.ca)
5. Level-up Leads
Level-up leads handle all the prospecting work to generate consistent leads for a sales funnel. This sales development agency offers services including:
- Full-service SDR
- Cold calling
- SEO services
- LinkedIn management
- Fractional SDR
They prioritize long-term and sustainable strategies for omnichannel marketing. Learn more about their pricing and processes on the official website. (levelupleads.io)
Frequently Asked Questions
Wrap Up
Outsourced lead generation has several benefits including its cost-effectiveness, quick results, and scalability. Strategic marketing decisions are important for a company’s success and growth.
Hiring a competitive B2B lead generation outsourcing agency can lessen the burden. They bring opportunities and aid in achieving the business objectives. A better sales pipeline means more customers!