New businesses sprout up regularly, increasing the number of competitors in various industries. These businesses usually engage in demand generation to create awareness and attract new potential customers. For existing medium sized businesses and enterprise organizations, the challenge is even bigger—how to continuously generate leads in order to generate revenue.
In today’s business landscape, lead generation has become a separate industry on its own. However, 63% of marketers shared that their top challenge is generating traffic and leads.
Sometimes, it can be too much to handle. .
Even for the most experienced and advanced marketing teams, lead generation can be quite the challenge. It can reach a point where your marketing teams are too caught up in lead generation efforts that other marketing objectives and tasks are no longer priority.
If your business has reached a point where the marketing team is spending too much time prioritizing lead generation over other strategies it may be time to look for a lead generation provider. By doing so, you can focus on other business aspects and nurturing your existing customers.
Here are a few of the benefits of working with a lead generation partner:
1. Higher MQLs
A marketing qualified lead (MQL) is a lead that is more likely to be a customer compared to other leads. These are the ones that have the biggest impact. In fact, it’s better to have a few MQLs than a lot of mildly interested followers. 70% of marketers recognize the need for higher quality leads.
High conversion rates mean your sales and marketing systems are preforming well, however it’s important to stay in tune and updated. A lead generation company can help you achieve higher MQLs, especially for medium businesses and enterprise organizations who need larger lead volumes to achieve higher sales and revenue goals.
2. Better Prepared for Growth in New Markets
It can be challenging to gear up and expand into unfamiliarly territory. A lead generation company that is familiar with your new target market can help increase market penetration sooner. When Service Management Group (SMG) wanted to expand into new markets, their vendor was able to provide 61% MQLs to Sales Accepted Leads.
3. Technology Support for Campaign Analysis
With a lead generation company, you can expect they have specialized technology that is designed to accurately monitor and analyze the lead generation campaigns you run.
Well-experienced lead generation teams do not just run promotions without basis. They also continuously monitor the results of their efforts in order to find out what works best. Additionally, they can help you assess which stage of the marketing funnel works best for generating leads.
4. Targeted leads at a lower cost per head
Are you in a crowded vertical industry, like the technology software industry or the e-commerce industry? Competing in an industry like this is sure to take a toll on you. You will have to depend on lead generation efforts to keep pulling in more clients.
Traditional advertising may not be enough—it takes up too much of your resources and it can be a hit-or-miss game. When you work with a lead generation company, you are directly converting your budget and resources into highly qualified and targeted leads. .
Plus, the cost for attaining highly targeted leads can be less than what you usually spend on traditional and mass market advertising.
Essentially, working with a reputable lead generation company will surely work to your organization’s advantage. Aside from savings in terms of budget and time, you are more likely to receive highly qualified leads that have higher chances of conversion.
The next step for you is to review the items and benefits discussed above. Assess where your business stands in terms of MQLs, expansion, tech support, and targeted leads. If you plan to do better than your current status, it’s time for you to start looking for the right lead generation company for your business.
Learn the best practices you need to implement to launch an effective lead generation campaign with a partner.