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Do I Need a Lead Generation Company?

K'Lee Banks

June 11, 2013

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The mantra “Location, Location, Location” in real estate might well mirror the mantra “Leads, Leads, Leads” in the business world. 

Without leads, referrals, and word-of-mouth advertising to supplement aggressive marketing efforts, small businesses would be OUT of business rather quickly.

Leads represent potential and future customers, business, and profits. Without leads and following up on leads, a business would have rather a rather slim target market, and likely an even slimmer profit margin.

So the question is, are you comfortable seeking your own leads or could you benefit from the assistance of a lead generation company?  Is there any such thing in the business world of having too many leads?

Pros of Hiring a Lead Generation Company

When you consider whether or not to hire the services of a lead generation company, keep these pros in mind:

* Lead generation companies will save your time and efforts, allowing you to spend more time on other aspects of your business, including your current clients and customers;

* Lead generation companies typically have entire databases of in-depth and industry-relevant information, and can find suitable clients and customers interested in your particular products or services;

* Lead generation companies strive to generate a maximum number of leads within brief time periods, such as hourly, and ensure they are highly qualified and reliable leads;

* Lead generation companies will handle lead and follow-up phone calls and telemarketing.

Cons of Hiring a Lead Generation Company

In deciding whether or not to engage a lead generation company, you should also weigh the cons:

* Some lead generation companies do a poor job of {{gasp}} generating and following up on leads, according to a March 2013 Forbes report.  Do your homework on the reputation of a leads generation company, including their response and follow-through rate.;

* Leads contained in mailing lists (email and/or postal) may be outdated and may be considered spam;

* Leads may have been obtained illegally or unethically;

* Leads can be expensive;

* Certain industries require special licenses for their lead generation companies;

* Some lead generation databases could be corrupt or inaccurate.

It’s Your Choice

As with most things related to your business, it’s your choice whether or not to enlist the services of a lead generation company. 

Weigh the pros and cons to determine what is best for your business in regards to lead generation.

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