Statistics show that only 2.35% of the visitors who land on your website have the potential of becoming leads. Although there are many different channels of generating leads still it’s estimated that more than half of the lead gen budget you spend goes wasted without a proper strategy. So, at times when leads are a vital part of B2B organizations, business owners look for lead gen vendors in the market to focus on such critical challenges.
After all, for any business marketing or sales strategy to succeed, a strong capacity of generating leads is necessary. A lead gen vendor works tirelessly with their skilled team and resources to focus on generating high-quality leads catered to your industry. This is the reason why they are deemed invaluable to succeed in such an overly crowded and competitive market.
However, finding an ideal lead gen vendor isn’t as easy as it seems. There are tons of them working in the industry and picking one of those many is a challenging task itself. Nevertheless, there are a few questions you can ask to filter your choices. In this blog, we will discuss those questions that you may ask a prospective vendor to make the right choice. Let’s continue reading,
- Who is The Team That Will Be Working On My Project?
There are two types of companies that work as lead gen vendors. First, a small sale leads gen company, and second the one that handles major accounts. Major account lead gen companies generally target upper-level decision makers of a company and they provide a more professional and solution-oriented strategy which may seem pretty complex to implement.
While smaller lead-gen companies work with a comparatively shorter sales cycle and target small-sized companies. So, while choosing a lead gen vendor, you must find out about the team that will be working on your project. Are they experienced enough in what they do? Have they worked with similar companies before?
Ideally, a vendor’s expertise must include all the steps of a sale cycle including qualifying the leads, generating them, and closing them. Especially, if you’re a large-scale organization, you must find out whether the team has experience in the past to handle such a large database. Otherwise, you may land in trouble in the future.
- Can You Screen Share Similar Campings & The Results?
There are two different types of processes available for qualifying leads. First, there are marketing-qualified leads and second, there are sales-qualified leads. MQLs or marketing-qualified leads are identified by the marketing department of the lead vendor whereas SQLs or sales-qualified leads are identified and vetted by the sales team after they’re passed from the marketing department.
Generating these leads and qualifying them isn’t an easy task. It requires experience, expertise as well as high-end resources to process everything. Therefore, not every lead gen vendor who talks about generating high-quality leads can actually succeed. Especially in today’s industry where the customer’s behavior is changing rapidly along with the market trends, it takes years of experience and lead-gen tools to implement the strategy successfully.
So, it’s highly important to know whether the lead-gen vendor you’re partnering with can share similar campaigns and previous results or not. By analyzing it, you can understand whether the team is capable enough for handling such work and what you can actually expect from them. By doing this, the end result will always remain satisfactory.
- Do Your Averages Align With Our Average Order Size & Average Close Rate?
When you plan to ultimately grow your business, tracking the conversion rate becomes critical to know whether you’re meeting the conversion rate benchmark set by the industry. The ultimate goal of any B2B lead gen campaign is to convert a prospect into a paying customer. But, the rate at which this conversion happen depends on a variety of factors. This includes the lead gen vendor’s experience, expertise, knowledge, number of employees, resources, software, and whatnot.
Ideally, the average conversion rate should be around 10% or more depending on which industry you’re targeting. But, it’s important to know whether the averages align with the average order size and average close rate. This will help you know whether the lead gen vendor will help you drive satisfactory results or not.
Final Thoughts
Moreover, finding a lead gen vendor in today’s competitive market is undoubtedly challenging. But, with a little information and knowledge, things can get easier. We have discussed a few questions that you can ask a B2B lead gen vendor while selecting them. This will help you know whether they’re the right choice for your organization or not.
And, if you’re still looking for help, Socialbloom is here to help you out. Being one of the most reputable B2B lead generation companies, we can have an expert team at your service to help you succeed within a quick period of time. To know more, schedule a discovery call now!