Outsourced B2B Lead Generation: A Complete Guide

When you make any business decisions, such as launching a new product or changing your logo, what are the goals behind it?

Mostly it’s to get more leads, right?

Leads are nothing but those potential customers who might want to buy your products or use your services. So, whether you’re updating your marketing or trying something new, you’re really trying to attract more leads.

But it’s not enough to just have these goals in mind. You need to make them a priority and actively work toward them, which can be challenging. Big companies with lots of money usually don’t struggle with this. They easily hire experts in marketing and sales to focus on bringing in more leads.

But if you own a medium or small business and have a limited budget, you might face more difficulties. The good news is that you don’t have to tackle these challenges alone, you can hire another company to help you find leads.

Which is known as B2B lead generation outsourcing, which helps you save money, reach your target audience, and increase your chances of turning potential customers into actual buyers.

Outsourced B2B lead generation can be a smart choice for your businesses, if you want to grow without spending too much.

To learn more in-depth about outsource lead generation for B2B, let’s dive into this article.

What is B2B Lead Generation outsourcing?

When a company hires another company to help it find potential customers who may be interested in its products or services, it is known as B2B lead generation outsourcing.

The main goal behind outsourced lead generation for B2B is to connect with these potential customers, build a relationship with them and eventually turn them into loyal and paying customers.

This can be done through online ads, trade shows, direct mail, or cold calls.

It may sound simple, just get a list of names, phone numbers and emails and start calling or emailing people but in reality, it’s much more complicated.

First, you need to know what type of leads you have, are they people who are only interested in your marketing, your products, or are they ready to buy?

Next, you need to create different strategies to approach each type of lead. This includes hiring and training people to develop smart lead generation methods, create a seamless sales process, and more.

Since it takes a lot of effort and expertise, that is why, many small or medium businesses prefer to outsource B2B lead generation.

Importance of Outsourced B2B Lead Generation

As you read how much leads generation takes time and effort. This is why you should choose to outsource this task to experts.

When you outsource B2B lead generation, it allows you to do other important tasks, such as creating new products or building relationships with existing customers. It can make your company more efficient.

Most importantly, if you are outsourcing lead generation for B2B from any best digital marketing agency, it can really help you to improve the number and quality of leads.These Lead generation agencieshave special skills and knowledge that help them find more leads for you.

So, if you run a small business with limited resources, you can take many advantages by outsourcing lead generation for B2B.

7 Benefits of Outsourced B2B Lead Generation

Here are the few benefits of outsourced lead generation for B2B:

Fast Implementation

Outsourcing B2B lead generation companies already have the expertise for this, so they get the job done faster than you.

For example, a Geek Master can give you best results faster as compared to others. This can bring a lot of potential customers to your business in a short period of time.

Expert Help

As you read above, outsourcing means you hire an expert to work with who are good at finding new clients. As they are experts who have worked with different industries, so they know what works best.

This is very useful for small businesses or startups that lack or do not have this type of experience.

Less Risks

No one knows better than you about risk?

If you start something new, like launching a product or entering a new market, it can be risky, right?

I don’t think you should add more risk by trying a new lead generation strategy that may not work. Instead you can go for outsourcing, where you can focus on other important things while experts take care of finding new clients, reducing the risk.

Easier To Grow or Shrink

Only those companies that can adapt to changes can survive in this rapidly changing world, so your company must be able to adapt as well. Outsourcing lead generation for B2B allows you to increase or decrease your lead generation efforts depending on what’s happening in the market.

Save Money

As you already read, outsourcing can save you money. You don’t have to buy all the tools or hire a team to do lead generation in-house.

Instead, you’ll get everything you need in one package for one price by outsourcing lead generation for B2B.

Over time, this can save you a lot, and will allow you to use that money for other important things in your business.

Always Improving

Lead generation companies are always used to test and improve their strategies. They make sure that they use the latest trends and technologies to get the best results.

This means that your lead generation efforts are always being optimised to be as effective as possible.

Support and Reporting

When you outsource B2B lead generation, you get a partner focused on helping your business succeed. Who provides support for your campaigns and detailed reports that show how things are going.

These reports are extremely useful for making smart decisions and adjusting your strategy to suit your business needs.

How to Decide If You Should Outsource B2B Lead Generation?

You can decide whether to outsource B2Blead generation by considering a few key things, like your time, budget, and how prepared your business is.

Here are some simple questions to help you figure out if outsourcing lead generation is a good idea for your business:

Are you ready for outbound sales? If you’re not ready to start reaching out to potential customers, it’s best to get things organised before you even think about outsourcing lead generation for B2B.

Can you afford it, and do you have the time? Outsourcing lead generation for B2B costs money, and you’ll also need to spend some time working with the company you’re hiring, especially in the first few weeks. So make sure you are prepared for both.

Do you know who your target customers are and have a clear sales process? If you don’t have a clear idea of who you’re selling to or how to sell to them, a lead generation company can help you figure that out quickly.

Does your team know how to build a sales process? If your team isn’t sure how to set up or improve your sales process, it may be a good idea to outsource B2B lead generation to help your business succeed.

Are you getting the results you want with your current strategy? Even if you have a lead generation plan and a sales plan, you may want to outsource if you’re not seeing the results you were hoping for.

Why Outsource B2B Lead Generation Process?

If you have a small business with limited resources, it can be difficult to find good lead generation partners to help find new clients. This is where outsourcing lead generation can really help.

Focus On Selling

Salespeople spend a lot of time writing emails instead of actually selling. In fact, 42% of sales agent say that finding new clients is the hardest part of their job.

Because of this, they spend only a small portion of their day doing what they do best, selling.

By outsourcing lead generation, your sales team can focus more on selling, which is what they do best. This helps them sell more and operate more efficiently.

Cost-effective

For your business, hiring and training an in-house marketing team to find new customers can be expensive and time-consuming.

This is where outsourced B2B lead generation can help you out.

Instead of spending money and resources to build your own team, you can hire a group of already trained experts who are ready to help you find new clients.

Fast Results

When you outsource, your partner can focus on filling your sales pipeline with qualified leads.

This means your sales team won’t have to spend time searching for new leads.

Instead, they can focus on what they do best, converting those leads into paying customers. This way, outsourcing not only saves extra efforts but also helps your business grow faster.

Simple Lead Nurturing

When people think about purchasing something from your company, they usually need some time to feel comfortable and trust the brand before making their first purchase.

In fact, a study by Forbes states that 7 out of 10 people prefer to purchase from brands they trust. But if your team is too busy building that trust, you may miss out on customers who are ready to buy.

Here specialised outsourced B2B lead generation specialists can spend time to build relationships with your potential customers and make sure that they are ready to buy before handing them over to your sales team.

Try New Strategies

Your inside sales team is often focused on day-to-day tasks and dealing with potential customers. This may not leave them much time to try new ways to find potential clients.

An external lead generation partner can try different methods, such as B2B email marketing or B2B content marketing and other methods to see what works best. They can also analyse which channels attract the most leads, helping you make better decisions about where to focus your efforts.

How Much Does Outsourcing Lead Generation for B2B Cost?

When you think about outsourcing B2B lead generation services, the most common question is how much it will cost. Its total cost usually includes several parts, and although it may vary depending on the method used. The total cost of outsourced B2B lead generation includes:

• List Purchase: This is money spent to purchase or rent the lists of contacts, such as email addresses or phone numbers, to reach potential customers.
• Media distribution: The cost incurred to deliver your message to your target audience, such as ads or emails, comes under the cost of lead generation.
• Incentives: Sometimes, you have to offer discounts or bonuses to attract valuable clients. The money spent on these is also included in the cost.
• Campaign Design: This is the cost incurred on the creation of effective marketing campaigns, which includes design and planning.
• Agency and Work: If you hire a lead generation agency to manage all your marketing tasks, such as search engine optimization, social media management or any other, then you will have to pay them for their work.
• Other costs: There may be other expenses related to managing your marketing campaigns.

To get a better idea of how much this all adds up, you can often look at a few key metrics:

Cost Per Lead (CPL)

This is a common way to find out how effective a marketing campaign is. It is calculated by dividing the total money spent on the campaign by the number of leads generated.

For example:

If you spend $10,000 on advertising and get 1,000 leads, your cost per lead is $10. Some companies believe that keeping this cost low is best, but in lead generation, a higher cost per lead (CPL) often means better quality leads.

Average Cost Per Lead

The cost of generating a single lead can range from $50 to $190, depending on the industry, company size, and revenue. In general, larger companies with higher revenues spend more per lead.

For example: Companies generating more than $500 million for leads may pay more compared to smaller companies with less than $1 million in revenue.

Different industries also have different average CPLs.

For example, healthcare and technology companies often incur higher costs, around $162 to $208 per lead, while retail and nonprofit organisations may spend $31 to $34 per lead.

If you understand these costs then you can easily plan your budgets and ensure you get the best return on your investment.

TAM, Lead & Competition

Overall, whatever the cost incurred it is important to decide how much you are willing to spend to get your product or services noticed. If you are aiming for high end customers, you will have to spend more as they might be harder to reach.

But! if you are going after budget friendly shoppers you might not need to spend as much.

Next, think about how valuable your leads are. A lead is a potential customer, and you want to know how likely they are to actually buy from you.

If most of your leads turn into paying customers, you can afford to spend more money to get each lead. But if only a few of your leads end up buying something, you will want to spend less on getting leads so that you don’t lose money.

Finally,consider your competition, look at what they are charging for their product or services. If you are offering lower prices than your competitors, you may not have the budget to spend on leads. But if your product is more expensive you can justify spending more.

Always, consider your TAM, which is your total addressable market. It will help you figure out how many customers you could possibly reach. The bigger your TAM means the more area to grow in the market and spend on lead generation.

Tips for Finding the Best Outsourcing B2B Lead Generation Company

Now, you very well know that outsourcing lead generation for B2B can save your company time and money, the next step is to find the right partner to help you. There are many great companies that offer lead generation services.

But, what do you need ?

You need a right company that understands your business, goals, and target audience can be difficult. Here are some simple tips to knowing which you can easily outsourced B2B lead generation partner:

Ask Google for Help

Just like when you need to find anything else, you can ask Google to help you find the best lead generation outsourcing company. Type “ B2B lead generation outsourcing company” in the search bar, and you will get several options.

But it’s a good idea to focus on the top ten results.

Why?

Because if these companies can rank their websites at the top of Google, it means they have the skills to help your website rank higher as well.

Read Case Studies

Once you have made a list of potential companies, the next step is to read their case studies.

Case studies are examples of how the company has helped other businesses generate leads using different marketing strategies. Find case studies that match your type of business.

For example, if you work in the B2B sector, focus on case studies related to B2B companies. This will give you an idea of how the company overcomes challenges in your specific industry and for its other clients.

At Geek Master, we have many case studies available on our website to show how we work and help potential clients understand what we can do.

Check Reviews Carefully

When you’re trying to find out how good a lead generation company is, reviews are extremely important. But, there’s something you should keep in mind, we’re talking about reviews, not testimonials.

Testimonials are nice things customers say about any company, and the company places them on its website.

But think about it – no company would post bad reviews on their website, right?

For this reason, testimonials may not tell the whole truth. Reviews, on the other hand, are shared on third-party websites where people can say what they really think.

How Good Are They at Collecting Data?

An outsourced B2B lead generation company needs to find the right people who fit your Ideal Customer Personality.

Basically, they should know who your best customers are and collect all the important details about them.

Here are some examples of data they may collect:

• Demographics: Such as a person’s name, email, phone number and other contact details.
• Company graphs: Information about companies, such as their revenues, number of employees, and location.
• Technology data: Details about the tools and technology used by companies.
• Psychographics: Things like their interests, habits, and preferences.

Using this information, outsourced B2B lead generation companies can create personalised messages and campaigns that speak directly to your potential customers. They use modern tools to keep this information secure and make sure it is always up to date.

Make sure you outsource lead generation for B2B companies that have the right technology and resources to find useful information about your potential customers. They need good data to help you launch marketing campaigns that actually work.

Key Questions to Ask

Do they create customer profiles? Ask if they create ideal customer profiles by considering details such as job type, income, and education level. This helps them target the right people.

Are they up to date on email trends? Check if they know the latest email marketing trends, so they can reach potential customers in a timely manner.

Are they using multiple marketing channels? Find out if the company knows how to use different tactics, such as social media, emails, and ads, to attract new and returning customers.

Do your salespeople have technology experience? Make sure their sales team is comfortable using the latest appointment scheduling software to book meetings with busy business professionals.

Do they have a clear onboarding process? Ask if they have the proper process and documentation when starting out with a new client.

Track Success

You are investing your time and money into outsourcing lead generation for B2B to grow your business. To make sure it’s worth it, you need to follow their success.

Ask how they track key metrics. This could include the number of people who visit your landing page, email open rates, or the number of people who click on your paid ads.

Set KPIs (Key Performance Indicators). Work with the company to set specific goals. These KPIs will help guide the company to achieve its lead generation goals.

By conderinding these tips and tracking the right metrics, you’ll have a better chance of succeeding in your lead generation efforts.

What To Expect From Outsourced B2B Lead Generation ?

Outsourcing B2B lead generation for the first time can be a little overwhelming, but the process is very simple.

When you partner with a leading company, the first step is to share important details about your business. You’ll need to explain your industry and sector, give a little background information about your company, and talk about your brand personality and what makes you unique. You will also need to describe your target audience, i.e. primarily the type of customers you are trying to reach.

The company may also ask you to explain your current marketing strategies and how your sales process works. This information helps them understand how to find the right leads for you.

After providing all this information, the lead generation company will create a plan that fits your brand. From there, you can relax and focus on your daily tasks while the agency takes care of finding potential clients for your company.

What Do Outsourced B2B Lead Generation Do?

Lead generation companies like Geek Master help businesses find and connect with potential customers. We don’t just focus on short-term solutions like quick ads to get leads. Instead, we plan for the long run, making sure our strategies continue to work even after they have been implemented.

Here is what we do:

• Get More Leads: We help businesses like you find more people who might be interested in your products or services.
• Build Brand Awareness: We make sure more people know about your business and what you offer.
• Gain New Customers:We also help you in turning those leads into paying customers.
• Keep Customers Happy: We create ways to keep your customers coming back to you.

We have specialists who understand how people decide to buy something. They create a step-by-step plan to guide potential customers from just being interested to actually making a purchase and sticking around. So, we don’t just help businesses get new customers; we also help keep those customers loyal.

So by outsourcing lead generation for B2B you can make sure your business attracts interest, spreads your brand around, and keeps good relationships with your customers.