Most companies and business owners are of the opinion that high quality leads is a vital factor for business development. The challenge is to identify the most efficient method to generate the leads. Often the debate is between two specific methods for lead generation: outsourced lead generation and in-house lead generation.
Listed below are some of the major ways in which outsourced lead generation differs from in-house lead generation.
A successful lead generation is dependent on accurate and high-quality data. Many in-house lead generations teams face tough challenge at the data accessibility stage. The in-house teams are responsible for sourcing their own data. They have to invest a significant amount of their time to source data and research the leads. Erroneous data or lack of accessibility to high quality data lowers the success rate of the in-house sales team.
On the other hand, outsourced lead generation teams have access to accurate and clean data. As part of their core business, outsourced sales and lead generation agencies source and maintain accurate data in a meticulous manner. This provides the outsourced teams an edge over in-house lead teams while pursuing leads.
In-house lead generation teams enjoy the advantage of having in-depth knowledge about the company and the products that are being marketed. The in-house sales and lead generation teams can be supervised and scrutinised for every aspect of the lead generation campaign. But one of the minus points of having an in-house team for lead generation is that it requires training and constant monitoring of the staff, for which additional time and resources must be invested.
In contrast, an outsourced sales and lead generation team comprises of trained and experienced professionals who are experts in their field of work. Such teams work in close association with the company from the planning stage to deliver the expected results.
Technological Resource Allocation
Technological resources are essential for gaining success in any lead generation campaign. A sales and lead generation team requires specialised equipment, software and networking tools to attain their goal.
To conduct lead generation campaign in-house means the company needs to provide its in-house team with all the required technological resources. These resources can be quite expensive to purchase, install and manage. The company will also need to engage professionals to maintain the technological resources.
An outsourced agency utilises its own technological resources to run the lead generation campaign. The company will not have to invest in any kind of technological resource on behalf of the outsourced agency or firm. Partnering with an outsourced sales and lead generation agency can be cost-effective if the company has a tight budget or wants to run occasional campaigns only.
Converting a lead into a customer can be a tedious and time-taking process. It may involve continuous follow-up or communication from the company. In many cases it has been seen that the majority of the leads generated in-house are never followed up or the communication is not continued by the lead generating team. One of the main reasons for this issue is the lack of a proper follow-up strategy that results in mishandling or dropping of leads.
Outsourced sales and lead generation teams are trained people who are focused on nurturing the prospects and converting them into sales. They follow-up a lead and keep in constant till the time the purchase is finally made.
The general perception is that outsourced sales and lead generation is more expensive than in-house lead generation campaigns. But this point has to be considered on the basis of all the variables involved in the lead generation campaign.
In-house lead generation campaigns involve several expenditure heads such as staff training, hiring new staff, investing in technological resources, carrying out market surveys, project management and other miscellaneous costs. All these expenses together can result in a huge amount.
An outsourced lead generation agency does not require a company to invest in any of the mentioned expenditures to carry out the lead generation campaign. Additionally, the outsourced agency can be hired to run the lead generation campaigns as and when needed. So, though outsourcing may seem to be the expensive option, in the long run it performs as the cheaper one.
In view of all the points mentioned above, it can be seen that the outsourced lead generation teams have the potential to perform better than their in-house counterparts. An outsourced lead generation agency can be a viable choice for any company’s lead generation campaigns.