The wave of outsourcing has hit the lead generation process of many companies. The process of generating a database, data validating, cold calling, selling ideas and fixing up meetings to close a deal is now being outsourced.
It is quite common for small businesses to assume that they don’t need to adopt newer processes in sales and business development. Many small businesses still rely just on referrals and repeat business. Lead generation is core to business development and without this, it is difficult to have a sustained business model.
You have to be aware of a few factors while drafting the lead generation plan for your small business.
Tips to draft a lead generation plan
• Understand why someone should buy your product or subscribe to your service. What customer needs/problems will your product or service solve?
• Make an effort to find out how many people have a concern that your business can address. Find out the kind of medium they use to seek information about addressing such problems. Once you identify this, draft the message that you want to deliver and the change you want to see in your target audience. Carefully disseminate this message through suitable channels.
• Make sure that your message includes a call for action, and that is the method to check the efficacy of the tool. Once you have decided on the basic lead generation plan, you now have a crucial decision to make.
Based on your investment and your team’s bandwidth, you should take a call on whether you would recruit people, train them and generate leads, or whether to look for an external partner who brings in potential customers to your door.
The big question that you need to ask yourself is, “Should I appoint an in-house team to generate and follow-up on leads or should I outsource it?” Here are the associated pros and cons of outsourcing lead generation to help you make your decision.
Advantages of outsourcing lead generation
• If you are a start-up or a small business and have a small team, by opting to outsource lead generation, you separate cold calling, sales lead generation and closing on appointments with potential customers from a final face-to-face meeting.
• This allows you to concentrate on focused selling then getting into the processes of pitching with every possible customer.
• As a result, the process allows faster conversion, lesser hassles and better revenue with a leaner team. This also saves your time on training the team, saves money in creating office space and daily follow-ups.
• The process enables you to focus completely on converting potential customers into business in the face-to-face meeting set up by the outside team. • It allows you to start a business, prove your mettle with a few customers and create case studies.
• This ensures you save money to invest in expanding your business and team.
Disadvantages of outsourcing
• The flip side of the process is that there would be less market feedback that comes to your table.
• The learning curve about market reality might not be the best.