Why You Should Outsource Database Research and Lead Generation
The lifeblood of all businesses is lead generation and sales. Whether you sell widgets, data or enterprise technology, sourcing high-quality leads will ultimately be what leads to the long-term success or failure of your business. No place is this need more apparent than in the Financial Technology sector.
With increased investment in the Fintech sector, there is an incredible amount of competition and many vendors are struggling to get their brand out into the market. As a growth-focused leader, you must decide whether you will create this all-important lead pipeline in-house or outsource those responsibilities to a specialised lead generation company.
Here we will discuss 5 reasons why outsourcing database research and Fintech lead generation makes so much sense.
1. Outsourcing Makes Sense With or Without an In-house Sales Team
They say that “time is money” and that is exactly what outsourcing your Fintech lead generation gets you. If you already have an internal sales team, outsourcing lead generation will save you and your team the incredible amount of time it takes to build a highly targeted database and prospect for leads. It will also allow them to focus on what they do best, selling prospects on your product or service. If you do not have a team in place, consider outsourcing lead generation. It will save you the time it takes to build or add to your team. All the time it takes to put a team in place, with the hiring process and training involved, is time you are being kept from your #1 task, growing your business.
2. Outsourcing is Cost-effective and Provides High ROI
Many businesses look at outsourcing database research and lead generation as too expensive. However, when you look at the costs of creating your own database, leads and your own sales pipeline, the costs will add up quickly. A full-time Inside Sales Representative comes with a salary of course, as well as on-boarding and training costs. There are additional hidden costs as well such as the costs associated with management, overheads, team tools, and bonuses. Even if this person did as good or even a better job than an outsourced lead generation company, these costs would severely limit the ROI on your sales leads.
3. Better Adapt Your Changing Market
The Fintech landscape is always changing. It takes time and creating repeatable processes to be successful in lead generation and consistently has a full pipeline. A skilled lead generation company will be able to put processes in place that will continually fill your pipeline without the trial and error it takes to do so yourself. They offer a step-by-step methodology for affordably sourcing high-quality leads. These processes are scalable and will continue to grow with your company so you will not experience lags in leads as your company’s needs change.
4. Successful Research and Lead Generation Takes Know-How
Finding a new-hire who fully understands the Fintech market and can prospect, qualify and build a list is few and far between. Data also shows that it takes 3-6 months of ramp time in the first year to get a new-hire to be fully productive. Even if you can find an Inside Sales Representative who already knows what they are doing, you would not want them to spend all their time just researching and building their database, you need them to approach, make calls and sell too. If you hire someone who cannot do all these things, you risk burning a high number of potential clients during the employee’s learning phase. With an outsourced lead generation company, you can mitigate many of these factors.
5. Cold Calling is Still the Effective
If your business has already stocked the pipeline of inbound leads that are generated from a marketing source like your website, this may not be true. For everyone else, it is the reality of lead generation. Database Research, Email Marketing and Cold calling is not always the most efficient way to generate leads, there is a lot of time-wasting and rejection, but in the end, it is still the most effective. Taking this highly effective time-suck away from you and your sales team is a great way to reap the benefits of this timeless sales technique without having to suffer the considerable downsides.
Hopefully, these 5 reasons give you a sense of why you should outsource your company’s Database Research and Lead Generation. A professional lead generation company like Datasearch Growth is perfectly positioned to support you with lead generation within the Fintech sector. We have a team of experienced Lead Researchers and Inside Sales Reps with industry experience. It is the best way to guarantee a consistent stream of quality, screened leads your company needs to flourish. Contact us today for more information and to schedule a call with one of our sales associates.
Alan Anwar is the Managing Director at Datasearch Growth, a specialist lead generation firm focused on helping Financial Technology vendors grow. If you would like to get in touch to discuss how lead generation can help your business feel free to reach out on email@example.com for a more detailed discussion.