Unsure if tele-lead generation is for you? Here’s a quick guide.
Lead generation through telemarketing is one of the oldest forms of driving product demand. That doesn’t mean, however, that its more technologically-advanced counterparts easily outclass it. Despite its age, it remains relevant in the marketing space owing to its adoption of internet and data-driven tricks. And depending on your needs, it might just be your most effective choice.
Among other methods of generating leads, telemarketing has the highest response rate at 10%, followed by direct email marketing at 3.7%, according to a study by the Data and Marketing Association. In terms of returns, telemarketing nets around 19%-20% in ROI, second only to the volume-reliant email at 21-23%. (ThinkLogic incorporates email-based techniques on its telemarketing efforts).
If you’re thinking about employing a telemarketing strategy to generate leads but do not have the infrastructure and manpower on hand, having a third-party vendor do it is a viable – and hugely popular – solution. And the benefits extend far past cost-savings and big returns on investments.
Getting a lead generation partner means you do not have to invest in equipment and manpower
Assembling a team of effective telemarketers can take up a significant amount of time and resources. Setting up the necessary infrastructure, building a database of prospective clients, and training marketers are all investments that must be taken into consideration.
Things start to look even more expensive when you take into account the running costs of keeping the lead generation team in-house, plus its inability to scale. Having a fixed workforce restricts the marketing team to campaigns whose sizes are only within their logistical capability. This, without even thinking about the markets that are beyond their reach due to zonal differences.
These are investments that must pay off somewhere along the line, and it can take a lot sooner if you don’t keep them busy. Find a lead generation partner if your campaigns vary greatly in size and region, or are few and far between.
Having a reputable partner do it guarantees that the people working on your account are already experts in the field
It isn’t just about saving costs, even though the financial implications in themselves are compelling enough reasons to do so.
Even if finances were no issue, an external team will still be a lot more effective and quicker to deploy than an in-house team. Third party vendors already have tons of experience in the field and have dealt with a multitude of clients and prospects across a plethora of different campaigns. They can even steer you clear of avoidable dangers and offer alternative solutions without losing sight of your primary objectives.
While it’s widely accepted that in-house staff knows their products better than anyone else, that isn’t everything there is to it. The true value in telemarketing is the ability to breach past gatekeepers and get solutions within the reach of decision-makers and influencers.
No matter how compelling a product is, nor how well-refined the sales team’s pitch, it won’t matter unless you get your brand across.
Having a partner do it allows you to focus on your primary processes (and grow your business)
Speaking of pitch, and of knowing your products best, this is where your company comes in.
By having someone else do lead prospecting, you can devote more effort into developing the perfect sales strategy to convert leads. Sales and marketing are monumental tasks on their own. With limited resources, organizations simply cannot skimp on one trying to do the other, as it is of utmost importance to avoid generating bad leads or failing to convert. Let telemarketers focus on acquiring high quality leads (what they do best), and focus on getting those high quality leads to convert (what your sales or product specialists do best).
Furthermore, this allows you to redirect your resources to product research and development. By being able to finance the R&D team more, you end up with a tactical advantage over your competitors in product offerings.
So how do you choose a telemarketing partner?
There are plenty of telemarketing companies out there. The trick to finding the one that’s perfect for your needs is to first assess your requirements, with the following questions as guides:
- What regions am I targeting?
- How much is my budget?
- Which pricing model best suits my business and allow for easier calculation of ROI?
Each telemarketing company operates based on their own processes and principles, and are often tailored to their target regions. By assessing your requirements first, you narrow your choices down to the best candidates for your campaign and ensure that you get the best possible results.
Telemarketing is just one of the many business processes you can choose not to keep in-house, but it is a task that you can pass on to a partner without any worry. Its benefits extend far beyond cost-saving – opportunities to expand your reach, diversify and improve your products/services, and grow your business overall – without sacrificing control.
Give it a shot. Your next biggest sale might just be waiting for your first call.