13 Questions to Ask a Lead Generation Company Before Hiring
A successful business marketing and sales strategy require a strong lead-generating capacity. If the leads generated for an organization are drying up, it is important to focus on ideating an approach that helps with solid lead generation.
It is time to accept that you need some external help and a lead generation company can come to your rescue.
A good lead generation company has the time, skills, and resources to be your ideal partner. They concentrate on creating the right approach to optimize high-quality leads. The real deal lies in identifying a lead generation company that will deliver what they promise. Some amateurs will really sell themselves but will not be able to sell your products.
What do you do then? How do you choose the ideal lead generation company for your brand?
Here’s a list of 13 questions that you can begin with to ensure that you associate with the right partner:
1. What type of company are you?
Lead generation companies are basically of two types: Major account and small sale lead generation companies. Major account lead generation companies focus on complex products and services. They target the senior-level decision makers and generate high-value sales leads.
Small sale lead generation companies, on the other hand, concentrate on small-value leads with a shorter sales cycle. Majority of lead generation companies that you come across will be in this category.
2. What are the charges?
This is, of course, one of the most obvious and important questions. The charges of different lead generation companies vary. Factors that affect the price of services include the size of company, experience, industry serviced, level of leads generated, the range of services offered etc.
Before you hire, make sure that you have a clear understanding of what you are being charged for. Is it retainer fees or the leads you receive? Some companies send a standard rate card while others do a thorough research on your industry and then create a customized quotation. As a tip, try and opt for a cost per acquisition model instead of a cost per lead generated model.
3. What are the processes you use?
Most lead generation companies adopt a similar approach but their methodologies can differ. To find the best fit for your brand, know which methodology is ideal for you. The services offered can be basic or a complete package with all that you need to nurture and optimize leads.
Some companies even go beyond the basic to offer services in B2B appointment setting and event promotion. Choose a company that gives you what you need with the right deliverables.
4. How is the quality of a lead measured?
You are not looking for random leads in bulk. You don’t need a list of all the people who landed on your website and filled out the contact form. You need leads that have some substance. A good lead generation company should differentiate between various leads and only share the ones that are strong.
5. What is a qualified lead?
You and your lead generation company must consider the same target audience for marketing efforts. Your expectations from the campaign must align with each other and only then should you have a qualified lead. Defining the lead in specifics always helps to acquire high-quality leads and have a more productive output.
6. What technology do you use?
In today’s era, it is vital to add a digital aspect to your lead generation efforts. An experienced lead generation company will be able to help you with this and will have the skills to make use of digital tools. They will automate, manage, and track the results of all their initiatives.
The technology they use will help you understand the expertise of the company. You will also be able to determine if they are updated with the changing industry trends.
7. What is your experience?
Some lead generation companies have an experience in specific domains. They have worked with a certain segment of clients and understand that niche significantly. If you belong to that particular segment, partnering with the company is a win-win for you.
Moreover, some companies do not have the right kind of experience servicing B2B brands. So, always find out about domains the lead generation company has worked with in the past.
8. How reputed are you?
While age can help to understand reputation, client feedback is a stronger factor to look at. Do not hesitate and ask for one or even several referrals before you make your decision of hiring a lead generation company. Existing clients can give you a fair idea of what the company delivers and if they do stick to their promises.
9. What is the plan of action?
We all know that 90% of the success lies in how well you plan. It is the same for a lead generation approach. Every lead generation company has its own way of operation but they must have a clear process to work towards the goals.
If the company does not have a concrete action plan or does not show you the same, please move on to the next company. You have all the right to know how they will manage the task of increasing your customer base and how they plan to go about it.
10. What is the process of reporting?
Lead generation is a long-term effort and so most companies charge you on a monthly retainer-basis. The reporting process helps you to know if your investment is worthwhile or not.
The frequency of reports can vary from weekly, bi-weekly, monthly or quarterly. You must know when you will receive updates and what the report will comprise.
11. What level of ROI is promised?
To evaluate the effectiveness of the lead generation company you choose, it is important to understand the return on investment they offer. What kind of ROI have they been able to deliver for a similar client?
What are the achievable goals they are targeting? These questions and the set deliverables give you an idea of what you should expect and what you are paying for.
12. What parts of the sales funnel are targeted?
A lead goes through different stages in its journey to convert into a sale. Your potential lead generation agency must tell you the different phases at which it will provide services and the stages that you need to take care of.
They must also guide you on the different parts of the sales funnel so that together you are able to reap maximum benefits from the lead generation efforts.
13. Is there a break-clause?
Make sure you ask about the exit clause based on the failure of meeting promises. The exit clause must be agreeable to both parties and stated in the contract.
These are some good questions to start with to understand if the lead generation company you choose is worth the money. With a detailed discussion of all aspects, you will be able to make an informed decision and know where your marketing budgets are being spent.