Whether you sell information products online or focus on B2B software sales, you depend on lead generation.
If you don’t get enough qualified leads, the quality of your marketing and sales funnel doesn’t matter. Your revenue will fall off. Many businesses use a lead generation agency when their own efforts fall short.
Before you jump into a contract, though, there are some things you should consider. Let’s jump and look at them.
Can You Refine Your Own Lead Generation?
Before outsourcing a process you perform internally, it always pays to assess your current processes. For example, how rigorous is your lead identification?
Say you sell time management software designed for lawyers. There are more than a million lawyers spread out across the country. You can’t market to all of them, so you must narrow it down.
Your lead identification should get as specific as “lawyers working 70+ hours a week in major Southern California law firms.” If it’s not, there’s room for improvement.
Another area that’s often ripe for improvement is making sure employees can educate leads about your product. If your employees can’t field most questions, it costs you sales.
Cost Per Lead Comparison
You should know your cost per lead or at least know a fairly accurate ballpark figure. Lead generation agencies should offer CPL estimates based on industry norms.
Their estimates also shouldn’t prove substantially higher than your own internal CPL numbers. After all, they’re experts on lead generation and you aren’t. That means their processes should get more efficient results without excessive overhead costs.
Lead Qualification Process
When you talk to a lead generation agency, ask them how they’ll qualify leads. The process they describe should align with much of your own qualification process. You know what makes a good customer for your business, even if you struggle to attract them.
If the answers you get don’t align well, ask lots of questions. If it sounds like a script filled with stock answers, take a pass. If you get nuanced answers that reference industry realities, you’re probably in good hands.
Are You Ready to Scale?
Assuming you end up with an agency that feeds you lots of great leads, are you ready to meet the extra demand? Fast scaling can exact some serious tolls on a company, including:
- Breakdown of company culture
- Failure of existing processes
- Subpar customer service
You must evaluate your company’s readiness to grow.
Can you realistically increase production by 50% overnight? Can you bring on enough staff for support without disrupting customer service and company culture? Can your building support any additional storage you might need?
Should You Hire a Lead Generation Agency?
A lead generation agency can help transform a company’s bottom line in the right circumstances. There are considerations you should take into account.
Did you exhaust your options for internal process refinement? Does their estimated cost per lead line up with industry standards and your own numbers?
Is their lead qualification process sensible based on your experience? If they drive great leads your way, can you scale up for the increased demand?
If you answered yes to these questions, it’s time to look for an agency.
Studio98 specializes in online marketing and lead generation. For more information about our services, contact us today.