What Is Lead Generation?
Lead Generation refers to the process of stimulating the interest of strangers towards the products/services of a business. Organizations use either inbound or outbound strategies to generate leads. The former usually involves content marketing and advertising while the latter involves telemarketing and sending cold emails. In an outbound call center, the latter comprise the primary tasks of a lead generation specialist. It may also include lead mining, cold calling, and in some cases, appointment-setting.
Why You Should Outsource Lead Generation
While there are businesses who want to do lead generation in-house, there are also businesses that opt to outsource this function. The primary reasons why they choose to outsource are as follows:
- To have trained lead generation specialists. Finding right individuals that can fulfill the demands of the lead generation role is a tedious task. The number of interviews and profiles to go through can take a toll on productivity. Outsourcing has been a source of relief for businesses who need talents immediately.
- To increase the efficiency of the sales process. By leaving the tier 1 part of the sales process to an offshore staff, the in-house sales team can go straight ahead in closing deals. They will no longer spend time cold calling and lead mining, thus optimizing productivity. Businesses can also ask outsourced lead generation specialists to set up an appointment with prospects. This ensures that the leads that the sales team will talk to are genuinely interested in the company’s products/services.
- To reduce operational expenses. The costs of doing lead generation in-house is comparatively higher than outsourcing the function offshore. The workstation, computers, Internet, and other supplies will no longer be a burden to businesses through outsourcing. All of these are already included in the payment package that they discussed with the vendor.
Examples of Industries That Outsource Lead Generation
- Financial Services
- Information Technology & Software
- Real Estate
When You Should Outsource Lead Generation
- When you aim to maximize business productivity
- When you aim to increase the efficiency of the sales process
- When you want to save time on training and recruitment
- When you are looking to cut operating costs
- When you have limited resources to support your business growth
Where You Should Outsource Lead Generation
In outsourcing lead generation, you have to be mindful of the following factors to make the most out of your investment:
- Cost of living
- Labor costs
- Cultural compatibility
Thinking about these factors can help you decide which outsourcing destination is the best to manage your lead generation. Just to give you an idea, India, China and the Philippines are the major countries that rivals for the top outsourcing destination. But among these players, the Philippines is the most-preferred for voice BPO including lead generation. This is because of the following characteristics that its Filipino workforce possesses:
- Proficiency in speaking the English language
- A neutral accent that is understandable by the majority
- High competency in meeting the demands of voice BPO roles
- Strong western influences
In the Philippines, Anderson Group BPO is a known BPO provider that has helped its clients increase bottom lines by generating sales-ready leads. One of its prevailing clients, a Digital Marketing firm, was able to grow its business by 30% ever since it outsourced lead generation to Anderson Group BPO.
How You Should Outsource Lead Generation
Here are the steps you should take once you have decided to outsource lead generation:
- Identify the problem in your business that you want to solve.
- Explore possible solutions that can help you solve the problem. Surf the internet to find more information about outsourcing, the top outsourcing destinations, and the best outsourcing vendors.
- Contact the outsourcing vendor that you deem fit to help you solve your problems.
- Tackle the problem or aim you have initially identified. The vendor will further the conversation by asking more questions about your sales process.
If everything went smoothly with your talk with the vendor, the next step could be a further discussion about your partnership. It can also mean sparing some time to actually visit the facility of the vendor.
If you have any further questions about this opportunity, please don’t hesitate to contact us.