Initiating consumer interest in your product or service is one of the most important steps in the sales process.
The methods for doing this vary greatly depending on the line of business that your company is in. For some consumer goods, the key to getting customers to know your product is through advertising and branding so that you stand out in a crowded store. For other types of companies, initiating consumer interest is accomplished through lead generation services – and this will be the focus of this article.
The main types of lead generation services are ‘cold calling’ and ‘prospecting’. Cold calling is a fairly commonplace term that is well known by the public; it is an activity that, somewhat unfairly, gets a bad reputation. We say unfairly because it is only cold calling that is done poorly, which is what infuriates people.
We have all picked up the phone at home or at work and immediately recognized that it is a pitch from some company for some product that we have no interest in. Cold calling can actually be done well though, and this makes it a much more efficient activity for the company and less disturbing to those on the other end of the line. By defining your target buyer more carefully and accurately, you can then spend time doing research to ensure that the list of people that you are going to call is sufficiently filtered so that you are communicating with people with a much higher chance of making a purchase.
Prospecting is often seen as the second stage of lead generation because it tends to start with a group of individuals who have already identified themselves as potential customers, whether it be because they visited your store, website, etc.
If these potential customers fit our target buyer characteristics, then we can see them as prospects and start the process of converting them into customers. The big difference between cold calling and prospecting is that the potential leads have already shown an interest and are therefore much more likely to be receptive to your reaching out. This can make the interaction much easier and also allows you to use a host of different techniques to try and close the sale.
By going into some detail on lead generation services, the point we are trying to get across is that there are good and bad ways of going about it and that ultimately, it is the most skilled sales staff who are going to be able to do it effectively and efficiently. Consequently, as a business owner, you should be thinking hard about your current sales team and the emphasis that you are placing on this integral part of the customer acquisition process.
The importance of lead generation roles means that businesses need to hire good people to fill them. The problem in the UK is that, while there are high-quality people to fill these roles, they are not always available at an affordable wage. And those workers who are willing to work at the price point you are looking for may not be as good at the job as you want.
These dilemmas are what make outsourcing this function to a low-cost jurisdiction such a great option. There are many reasons to do this. The one that businesses tend to focus on are the inevitable cost savings from making this move. The cost of labour in developing countries such as the Philippines is a fraction of what it is in the UK. Technology has enabled us to shift whole functions and teams of people abroad.
The other reason to do this is the increased quality that these workers provide. To be performed well, lead generation services require a team that has been well trained and is well motivated. It also requires good technology and research capabilities. By outsourcing, you are handing over this function to the specialists who have a much higher capacity for generating leads because they work for a large company that focuses on just this and doing it well.
In recent years, many companies offering lead generation services have been set up in the Philippines. They offer high-quality services at a still affordable cost. Piton-Global is one such company. In the last two decades, they have become a market leader in this space and have helped companies across the world to improve operating efficiencies, drive revenues and enhance the customer experience.