Is Pay Per Lead (Lead Generation) a Good Fit for B2B Businesses?
To many B2B Marketers, Salespeople and Business Owners, the thought of outsourcing lead generation on a pay-per-lead model can seem highly attractive. The idea of not having to manage an internal team of lead generators, and only paying for the results make sense, but how qualified are these leads?
Have they said yes out of curiosity, or has the outsourced agency built a relationship with these prospects?
To generate sales qualified leads, it’s important to understand your prospects and their requirements in order to put forward a credible and viable business case as to why they should engage with your brand.
Depending on the value of your proposition, multiple calls may be needed along with an exchange of emails. “Browbeating” prospects into meeting with you, does not work in the same way it did 10 years ago. B2B buyers did not have the resources available to them in days long gone to identify credible suppliers and the benefits that they can bring to your organisation, and therefore needed to meet with Salespeople to build a picture of suppliers that can fulfil their needs.
With the rise of the internet and an abundance of content online, buyers have the ability to understand potential suppliers, their offering and their credibility long before a Salesperson is needed to come in a further demonstrate the capabilities of their services.
Relationship building heavily relies on the efforts of your marketing team, that can be transferred over to sales later in the buying journey.
The ultimate goal of an agency providing a pay-per-lead model is to generate as many leads as possible, and therefore the budding relationship can often fall by the wayside.
Qualified, Quality Sales Ready Leads
Following on from my previous point, when evaluating potential lead generation mechanisms, its important to establish what you are looking to achieve.
Are you looking for sales appointments to ensure that your Salespeople are on the road at all times, or are you looking to utilise their skillset by sending them on appointments that have a genuine interest in your proposition?
Salespeople are great at covering objections, and painting a picture on how your services are going to benefit the prospect business. Having conducted a fact-find they will position your offering in a way that covers the buyers needs and requirements. Why should telemarketing be any different?
In my experience, the most effective Telemarketers to generate sales qualified leads ask pertinent questions that engage the prospect in a conversation. Identifying their pain points and the areas that they would like to improve, gives the Telemarketer the ammunition to put forward the appropriate benefits, and differentiating statements that your business can offer. Having identified the areas that, the prospect business is looking improve, and having put together an appropriate reason as to why the buyer should meet with your Salesperson, the lead quality will be improved and in turn you’ll obtain a higher conversion rate and ROI.
Brand Awareness & Reputable Protection
One of the common conversations that I have with businesses when they first engage with Lead Delivery, is that their brand awareness and reputation are paramount to their business, and that [naturally] it needs to be treated with the upmost respect. Your businesses’ brand and reputation are equally as important when considering a lead generation partner.
By engaging with a decision maker, taking the time to understand their challenges and needs before pitching them shows you as a credible supplier.
When a partner’s business model is solely focused on the number of leads that they generate, often they do not have the time to engage with a prospect to this level. They are looking to turn the conversation into a “yes” as soon as possible so that they can move on to generating the next lead, next piece of revenue.
Summary: What defines success?
Success can be defined, in my opinion, in three ways; the ROI, the number of leads generated and the pipeline of opportunities and marketing qualified leads that can be nurtured throughout the buying journey.
Agencies offering pay-per-lead B2B lead generation, heavily gear their proposition, and differentiating statements, towards the number of leads that they can generate. It’s important to remember that leads are not guaranteed revenue and that the quality of the leads is paramount to the longevity of your sales pipeline. Not only this, but employee satisfaction is an important factor to consider. Your Salespeople will always be thankful for the leads that you provide to them, after all they’re potential commission! Salespeople however, will not thank you for making them busy fools sending them on appointments with prospects that said yes out of curiosity rather than having a need for your products and services.
Lead generation agencies that work on a resource based model, solely rely on the quality of the opportunities and the database of marketing qualified leads that they generate and build. The generation of sales qualified opportunities that you can convert is paramount to the success of both the agency, and the client, meaning that the goals are aligned within the partnership. By engaging with your prospects and identifying their needs, whilst providing relevant and credible benefits will allow you to attend the appointment with credibility rather than having to start from the beginning. Equally as important, you’ll also have a bank of qualified decision makers that can be nurtured throughout their buying journey maximising your ROI.
In answer to our initial question “Is Pay Per Lead (Lead Generation) a Good Fit for B2B Businesses?” It completely depends on you and your business, and what you are looking to achieve from outsourced lead generation.
Get in touch with one of our lead generation experts by calling 0203 811 0479 or by email to see how we can assist you in the generation of quality sales qualified leads, marketing qualified leads and additional revenue.