lead generation companies

Lead Generation Companies: The Ultimate Guide To Hiring One

By: Frank DePino | October 26, 2020

Lead generation is an incredibly important part of your business’ success. Business doesn’t stop, which means if you want your business to grow, you need an influx of viable leads. 

As important as lead generation is, there simply may not be enough time to take on the task of creating a solid lead generation strategy. That’s where a lead generation company steps in. So, what exactly does a lead generation company do, and how can it help your business grow? 

In this post, we’re discussing: 

  • The benefits of hiring a lead generation company 
  • The types of work lead generation companies provide 
  • What you must consider before hiring a lead generation company 

And exactly how lead generation companies provide to value to your business, including:

  1.  Industry-Specific Solutions
  2. Attracting Quality Leads
  3. Getting Proof That Strategies Actually Convert 
  4. Shortening Your Sales Cycle
  5. Getting Insights From Experts 

Benefits of Hiring a Lead Generation Company 

1. You Get Industry-Specific Solutions

Lead generation isn’t a one-size-fits-all growth strategy. A lead generation strategy that works for a B2C (business-to-consumer) eCommerce brand may not work for a B2B (business-to-business) SaaS brand. According to CSO Insights, 68% of businesses report struggling with lead generation. 

If your business is in that 68%, a lead generation agency will help you get industry-specific solutions that match your company’s needs. 

These industry-specific solutions include: 

  • What kinds of lead generators to create 
  • The types of lead generators your target audience will respond to 
  • The kinds of lead generators that work for your industry 
  • The format these lead generators should be (webinars, PDFs, guides, etc.) 
  • How to market these lead generators to industry prospects. 
lead generation agency

Think about it: what works for a lead generator in the healthcare industry may not necessarily work for those in the real estate industry. Both industries have their own target audiences, services they offer, and problems they help solve. 

Hiring a lead generation company means you’re dedicated to offering the best solutions possible for your target audience instead of simply hoping your efforts are seen within the industry. 

2. You’ll Attract Quality Leads

Speaking of good leads, another advantage of working with lead generation companies is that you’ll attract quality leads who are interested in your product or service. According to Vorsight, only 3% of your market is actively buying. 56% are not ready, and 40% are poised to begin. If you work with a lead generation company, you can attract the 3% that are actively buying. 

A lead generation company can help you identify who these leads are and how you can convert them faster. They can track the following to see who’s most interested in your brand: 

  • Click through rates on your website 
  • Conversion rates on paid ads 
  • Open and click rates in email campaigns 
  • Time spent on your website 
  • Bounce rate on your website 

All of these metrics will give the lead generation professionals you work with important insights into your leads’ behavior. The more they know how your most engaged leads navigate your site, the better they can target those leads and convert them to customers. 

3. You Get Proof That Strategies Actually Convert 

How frustrating is it when you think you have a great lead generation strategy in place, but you can’t prove that it’s actually converting? 

If you can’t prove your lead generation strategies are driving results, you risk wasting a lot of valuable time and money. 

That’s where lead generation companies come into play. They’ll help you form digital marketing and advertising strategies that drive sales — and they’ll show you measurable metrics that prove their effectiveness. 

The B2B Technology Marketing Community reports that 25% of marketers don’t have any idea of their conversion rates. That’s a huge problem. If you don’t know what your conversion rates are, how do you know if your lead generation efforts are paying off? 

A lead generation company will work directly with you to determine what your conversion rates are for key aspects of your sales cycle. These include: 

  • Landing page conversion rates 
  • Email opt-in conversion rates 
  • Paid advertising conversion rates 
  • Sales conversion rates 

If you don’t want to spend another minute worrying about calculating conversion rates, then working with a lead generation company is the way to go. You’ll get accurate and much-needed conversion rates for key areas of your business without having to track the data yourself. 

It’ll save you time, energy, money, and headaches. 

4. You’ll Shorten Your Sales Cycle

Typically, it costs more money for businesses to attract new customers than it does to keep current customers. If you spend money on lead generation, don’t you want those leads to become customers faster? 

Lead generation companies help leads become customers faster by shortening the sales cycle. How? They’ll help you identify your target audience and send them relevant content that persuades them to buy when they’re ready. 

One of the biggest ways they’ll do this is through retargeting. Retargeting occurs when paid advertisements pop up on people’s feeds after they visit your website or check out your product. They may not have been ready to buy when they go to your website, but if you’re strategic about your retargeting efforts, they could be ready within a couple of days of the website visit. 

Some key ways a lead generation company can help you retarget your target audience include: 

  • Targeting paid ads based on their product views 
  • Sending strategic abandoned cart reminder emails 
  • Showing display ads on Google and YouTube 
  • Offering discounts in paid Facebook ads 

A good lead generation company will ensure you aren’t leaving good leads on the table. They’ll tailor their efforts and help your business convert the right leads in your target audience at the right time. 

5. You Get Insights From Experts 

One of the biggest perks of looking into lead generation companies to hire is that you know you’ll get insights from experts. Time is money in the business world, after all. 

The more time you spend trying to figure out lead generation, the less time you have to focus on other business growth strategies. 

Instead of guessing if you’re on the right track with your lead generation strategy, you can hire a lead generation company and know your efforts are in good hands. Lead generation companies work with the latest technology, analyze the latest trends, and hire experts in lead generation to help your business grow. 

When you hire a lead generation company, you know you’re not wasting money and actually getting quality help for your growth strategy. 

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Types of Work Lead Generation Companies Provide 

Branding

One of the most important types of work lead generation companies provide is branding work. Branding refers to the distinctive messaging that’s projected about your company through various means and distributed across channels.

Statistics show that presenting a brand consistently across all platforms can increase revenue by up to 23%

Needless to say, branding is a crucial aspect of your business and revenue stream. Luckily, a lead generation company will help you with all aspects of your branding. They’ll help you develop: 

  • A logo for your company 
  • Brand messaging that resonates with your audience 
  • Develop a brand voice that comes through across all digital channels 
  • A brand positioning strategy for your business 
  • A color palette for your brand
lead generation strategies

It’s crucial that you have a solid branding strategy for your business. Otherwise, you risk looking unprofessional and inconsistent with the public. 

A lead generation company will help keep your business’ brand looking sharp by keeping it consistent across all digital channels. 

Digital Marketing and Advertising

Another crucial task lead generation companies can help you with is organizing and executing your digital marketing and advertising strategy. 

Your product or service can be the best thing this world has ever seen, but if there’s no strategy for promoting it, the world will never know it exists

That’s where digital marketing and advertising comes into play. A lead generation company will identify which channels to capitalize on and what messages to put on them. They’ll help you narrow down what kinds of leads are using which channels, and what you can do on each channel to convert those leads. 

A lead generation company will help you with the following: 

  • Content Marketing — they’ll help you place the right content in front of the right leads via organic and paid marketing based on their stage in the buyer’s journey. 
  • Email Marketing — they’ll help you create lead generators that capture email addresses and develop email marketing strategies that nurture leads into customers. 
  • Social Media Marketing — they’ll help you determine what content to share on social media platforms like Facebook, Twitter, Instagram, TikTok, and YouTube. They’ll also advise which social channels to run paid marketing on. 
  • Search Engine Optimization (SEO) — they’ll help you come up with an SEO strategy that targets audiences organically based on keyword research and search behavior. 

A strong digital marketing strategy and advertising plan are essential for your business, and a good lead generation company will recognize that. They’ll also work closely with you to create a strategy that converts the traffic you need to increase your ROI and help your bottom line. 

What To Consider Before Hiring a Lead Generation Company

Do They Have Success Stories? 

One of the most important aspects to look for in lead generation companies is their success stories. These companies can talk the talk, but can they walk the walk? Success stories from other clients give these companies a sense of legitimacy and authority that you simply can’t get from the sales team. 

There are other forms of social proof that a lead generation company can show off. These include: 

  • Case studies 
  • Testimonials 
  • Video interviews from clients 
  • Positive Google reviews 

If a customer is happy with a lead generation company’s service, they’ll let the world know. And, if they have the results to brag about, they’ll want to tell the world about it. If a lead generation company is proud of the work they do, they’ll want to show off these social proof cases. 

How Do They Report Key Metrics? 

Don’t forget: you’re hiring a lead generation company to help you get results. One of the most important things to ask the company you’re hiring is how they report these results. What can you expect to see in terms of metrics, reports, and campaign monitoring? 

One way you can work with the lead generation company to track these results is by establishing key performance indicators (KPIs) and objectives and key results (OKRs). KPIs are metrics you can measure in a given objective. This includes: 

  • Conversion rates 
  • The number of organic visitors to a landing page 
  • How many clicks a paid ad receives 
digital marketing lead gen.

On the other hand, OKRs are overarching goals you want to achieve. Examples of OKRs include: 

  • Reaching 25,000 organic leads by the end of Q2 
  • Increase email marketing lead conversions 10% each month 
  • Generate $500,000 in new lead generation revenue by the end of the fiscal year 

Being on the same page with reporting and which metrics to measure is essential for your business and lead generation strategy. They’ll help you and the lead generation company stay on track and measure success in a cohesive way.

What Is Their Pricing? 

You have to know what you can and can’t afford when it comes to hiring a lead generation company. While there’s a lot of potential to grow your lead generation strategy, you don’t want to break the bank and get your company into debt. 

Know what your budget is and evaluate whether or not the company’s price is worth the service. 

lead gen company

Conclusion: Hiring a Lead Generation Company

Hiring a lead generation company is a smart move for your company, but the key is to hire the right lead generation company. Lead generation companies will help you get expert guidance on how to improve your lead generation strategy and attract leads that are likely to convert to customers. 

When done right, a partnership with a lead generation company can lead to tremendous growth for your company. Do your research and make sure the company you choose has a great track record, has worked with clients in your industry, and is within your budget.

 If you do this, you’ll hire a company that greatly helps your bottom line and grows your business leaps and bounds.

By: Frank DePino

Frank DePino is Principal and Founder of Mediaboom. Since 2002, Frank has led Mediaboom’s award-winning staff of creative and technical professionals building the most effective marketing and advertising solutions for its clients.

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