Every marketer aims to achieve success from his lead generation efforts, optimizing time, cost and all available tools from planning to implementation to results. For some marketing pros, this means outsourcing tools and skills relevant to goals achievement, while others construe as DIY in order to save on costs and avoid risks.
However, when your internal team comes short of production due to reasons such as lack of tools to nurture leads, outsourcing becomes your next best option. It’s like being ill and losing an amount of blood, but your system could hardly produce enough to sustain your body’s good health, and a blood transfusion is needed to get you back in shape. KInd of gross isn’t it? But, that’s exactly a picture of a lead generation done in-house and the need to outsource arises.
If you think that a DIY lead generation will save your marketing budget a fortune, here are the 3 things you might want to consider first before you conclude.
Your marketing staff would basically look for leads, but how? Your purchased list may be a good resource to look for prospects and utilize email and phone to reach them. But, your staff has got other things to do as well, maybe they have a checklist for an event to fill in the next four weeks or running against deadlines for a series of blogs needed to be published at the end of the month. Loading many tasks on their plates would likely eat up their time and restrain them from continuously generating leads.
Here’s a quick math:
You target to generate 2 to 3 leads a day, but time constraint trims your numbers down to 0 or 1. This means you overturn half the number of your target leads and cut 50% chance of converting these leads into customers. Imagine how that scenario will impact the buyer’s journey and affect your goals and objectives.
The quantity of the leads you generate matter, but quality will impact the chances of conversion. Since your in-house marketers are not fully focused on generating and nurturing the leads, the chance of engagement is low and the quality is compromised. Chances are, you will be speaking to prospects who either do not have the need for your product or just curious to know how your product differs from their current system. Thus, resulting in sending all your marketing time and effort and money down the drain.
Here’s a quick stat:
Nurtured leads, on average, produce a 20% increase in sales opportunities versus non-nurtured leads (Hubspot)
With the broad range of channels available for customers like voice, mobile, web and social media, plus the amount of data that they can acquire from various communication channels that give them insights about the products and services they want, widens their options to choose what, how and where to make a purchase. This, however, became quite an uphill for marketers as they need to employ the best marketing tools to increase leads production has become inevitable.
People do not stop at just learning the alphabet, but need to learn something new every day as they grow in order to live and keep up with life’s daily demands. That is exactly how your lead generation process should adapt to change and grow.
The discourse on whether to DIY or to outsource continues, but the fact remains that lead generation is the lifeblood of every business. It’s something that needs to steadily flow in the system in order to survive and thrive. In fact, 85% of B2B marketers consider lead generation as their most important content marketing goal which most of the time translate to undermining the costs and braving the risks.