Across the board, businesses goals are to reduce costs and grow profit. Sure, that’s an oversimplification, but it is the essential role of every department of every business. Reducing costs is not a singular task but instead is a task the requires a group effort from teams and teams of teams in your business.
“At the same time, your eye is always on the goal of growing your customer base and increasing your revenue. Again, simply put, the delta between those costs and that revenue is your profit margin. At the end of the day, that is what it’s all about,” says Ralf Ellspermann, CEO of PITON-Global, an award-winning lead generation provider in the Philippines.
Businesses have their choices and options on how to acquire these new customers. General marketing tactics are the obvious and first choice. For those of you who aren’t marketing professionals, I’m referring to traditional outbound lead generation. Outbound lead generation refers to marketing outreach to gain customers’ interest.
These will include commercials (both on radio and TV), billboards, direct mailers, flyers, brochures, and the like. These methods can both be costly and hard to accurately attribute leads for. This means that the data and customer acquisition is hard to be guaranteed to be 100% correct.
This is a reason for the surge in inbound marketing in today’s business world. Inbound lead generation is a series of marketing activities run online typically through Google and Social Media. The activities include optimising websites and social media content to appear high and favorably on search engine results pages found on Google, Bing, Duck Duck Go and more. It will also include running ads on Google, Social Media, LinkedIn and Youtube.
All of these are easily tracked which makes them desirable as a business can track right down to the cost per click. On a daily basis, a business can see just what their hard-earned marketing dollars are yielding them.
Outside of this, you have customer referrals and repeat business as ways to generate sales and revenue.
Additionally, you have teams to handle outbound lead generation services. These tasks are focused on warming up potential customers for the sales team to convert into customers.
It is important for a business to be varied and to explore and utilise all different avenues of acquiring customers but need to do so with an approach that limits the cost.
The easiest area to reduce the cost is in lead generation. The reason for this is because of its ability to be outsourced which is one of the greatest ways to save money.
The requirements for successful outsourced lead generation are a stable grid, a well-built infrastructure, and an experienced and capable labour force.
The Philippines is home to all of these in their flourishing BPO industry. Over the past two decades, they have built the world’s premier lead generation outsourcing industry, even surpassing India.
A business needs to manage its costs, having an effective and cost-efficient lead generation plan is a distinct competitive advantage. Outsourcing your lead generation services to the Philippines is the key to outshining your competition.