When you don’t have enough qualified leads in your funnel, your sales team’s success is stunted. That’s why many companies hire a B2B lead generation agency to help drive results.
What is a B2B lead generation agency?
Companies can hire a B2B lead generation agency for either short-term or long-term lead generation. Short-term arrangements help them fill in gaps in their resources and meet sales goals. Long-term relationships deliver a constant flow of qualified leads.
Need help generating leads for your B2B company? Partnering with an external lead generation agency to drive demand should do the trick. But what exactly do these agencies offer, how do source leads, and what prices can you expect?
Advantages of hiring a B2B lead generation agency
If you haven’t considered hiring a specialist in B2B lead generation services, there are many reasons why you should consider this service, including:
- They are specialists: B2B lead generation agencies are specialists in their niche. They understand what works and what doesn’t in lead generation, and they deploy their specialized services with precision.
- Services are outsourced: When you outsource your lead generation to a specialty agency you free up your sales team to focus strictly on selling, which can make them more productive.
- Services are flexible: B2B lead generation agencies can work with you whenever you need them and can aim to generate the number of leads you need.
- Services are affordable: Because they often work on a cost per lead basis, you maintain complete budgetary control.
B2B lead generation services offered
There are a wide range of lead generation services available to companies. Here are just some of the services companies use today to build leads:
- Email campaigns
- Appointment setting
- Content distribution
- Paid search
- PR and brand awareness
- Landing pages
- Social media marketing
- Native advertising
- Search engine optimization (SEO)
Among the most effective lead generation services are the ones offered by ViB, including:
ViB Emails: Promote your message to our community of “in-market” technology professionals.
ViB Syndication: Get your content in front of new audiences who may never find you organically.
ViB Appointments: Create new connections with prospects who fit your ideal customer profile.
ViB Webinars: Transform ordinary, static virtual events into interactive, lively conversations.
If you’re wondering what exactly differentiates ViB’s services from the others, there’s one main factor — the approach the lead generation agency takes to source its leads. Let’s break that down further.
Considerations when choosing a B2B lead generation company
There are many B2B lead generation companies to choose from. But it’s important for you to do your research and make sure you find the right fit for your needs.
The biggest consideration is how the lead generation company sources its leads, and this method can be quite unique.
For example, some companies use web scraping tools or even artificial intelligence to pull contact information from millions of online sources. Some also use cold calling to reach out to new contacts. The best lead generation companies nurture and tap into an existing network of warm leads.
The difference? Lead quality.
Another major consideration is the industry the lead generation vendor specializes in. For example, if you are a real estate company you’d want to do a thorough search of the top lead generation companies for real estate or the best lead generation companies for realtors. If you’re in high tech and SaaS, consider working with ViB and its rich network of tech contacts.
Overall, the best lead generation companies have one central goal: to build targeted campaigns that fill their clients’ sales pipeline with opportunities. They specialize in delivering qualified leads so their clients can focus on sales.
Explore ViB’s approach to lead generation further: How the ViB community keeps lead generation inexpensive
Top B2B lead generation companies in the USA
Once you’re clear on what considerations to look out for, here are some of the top lead generation companies in the USA that you can pick from as a starting point:
- ViB is known for leveraging its two million plus list of qualified, in-market technology leads to deliver proven lead generation services such as in email marketing, appointment setting, content syndication, and virtual events.
- LeadGeneration.com works with its clients to understand and identify their ideal prospects.
- DiscoverOrg excels at connecting its clients with B2B leads that include company data and sales intelligence.
- CandorWorks specializes in omnichannel marketing and integrated demand generation.
- Overdrive Interactive delivers end-to-end lead and demand generation for enterprise-level organizations.
Achieve a 60% conversion rate from lead to opportunity.
Common lead generation pricing models
The next question to ask is how much does lead generation cost?
In reality, it’s hard to define this figure because lead generation prices and pricing models vary tremendously.
Many lead generation companies charge based on the work done, perhaps with an hourly rate. For example, a company could charge $2,000-$4,000 per month for 40 hours of work in cold calling and email nurturing, much like an outsourced SDR service.
Another common pricing model is to charge based on results — i.e. leads delivered. This is called a ‘pay per lead’ model or leads as a service. Our advice is to stick with this option to ensure you’re getting clear returns on your marketing dollars.
What are pay per lead generation companies?
Pay per lead generation companies deliver performance-based marketing. Pay per lead generation works by establishing a mutual agreement with a lead generation agency for a “per action” fee of services. In other words, they must deliver results in the form of quality leads to get paid. Many companies like this option because they see it as low risk and cost effective.
The best pay per lead companies also filter the leads they generate and deliver only viable prospects to their clients. If any lead is not good, the agency simply replaces it. This ensures a level of predictability to the process of outsourcing demand generation as a service.
The three leading advantages of pay per lead model are:
- Fee: Only pay for the results you receive with no monthly fees or extra changes ensuring an optimized average cost per lead. This means that lead generation agencies are extra careful about lead quality since they only earn an income if their clients get results.
- Guarantee: Guarantees a consistent flow of qualified leads. Many pay per lead agencies specialize in accessing the best sources of in-market leads.
- Savings: Prevents wasting the marketing budget. You can spend a lot of money on lead generation services that don’t meet your needs. The pay per lead model prevents losses.
🔍 How are B2B marketers approaching generative AI, lead generation and marketing budget allocation today? Check out our latest B2B marketing trends report for the latest stats and strategies you need to know.
Discover the latest trends and statistics — and the key actions B2B marketers and leaders need to take today.
Understanding cost per qualified lead
So, what can one expect to spend on leads with a lead generation company? A good way is to analyze cost per lead and cost per qualified lead of various vendors and your existing approach.
Cost per lead is the gross marketing cost a company spends to gain a new lead. It is calculated by dividing the total marketing spend by the total number of new leads generated from a specific source, such as an agency.
The formula for calculating your cost per qualified lead is:
Total marketing spend / Total new leads = Cost per lead (CPL)
So, for example, if your total market spend was $20,000 and you generated 100 new leads your cost per lead would be $200.
Now, cost per qualified lead uses a similar metric, but with the inclusion of the cost of qualifying a lead. This could be marketing dollars spent on weeks of email nurturing, creating and distributing evaluative content assets, or initial discussions with a rep. As expected, these steps are expensive, which is why the cost of a qualified lead is much higher. For example, leads generated through an appointment setting program could cost thousands per contact.
As such, the average cost per lead for B2B lead generation companies in the USA can be a difficult metric to quantify because it varies widely according to several factors, including industry, quality of lead such as warm or cold, and whether it was generated through paid or organic lead generation tactics.
According to a recent study on the average cost per lead before qualification and by industry, here are examples of the wide range of cost per lead metrics in four sectors of the technology industry:
- Software development: Paid $680; Organic $510
- B2B SaaS: Paid $180; Organic $164
- Cybersecurity: Paid $411; Organic $406
- Fintech: Paid $490; Organic $413
However, always remember that you get what you pay for. Low cost leads could reap minimal conversions. A practical tip is to refer to your lead generation company’s testimonials and case studies to see if they would be a good fit.
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Lead generation companies for small businesses
Lead generation services are not just for medium to large companies. Small businesses can access the services too — and should. Such businesses might have less resources to execute lead generation in-house, or might need leads quickly to bring in revenue and build repeatable case studies. Thankfully, there are many lead generation companies who do great work for small businesses.
When searching for the best lead generation companies to consider for your small businesses, look for the following capabilities:
- Experience producing exceptional results for small businesses.
- Informed experts who are willing to share their knowledge and experience with you.
- A pay per lead business model so you only pay for the leads you actually receive.
- Services with less turnaround time so you can fill your funnel early and more easily.
- Highly qualified leads who show clear intent to purchase.
There are also a wealth of free lead generation tools available online for small businesses to access. Here are seven of the best:
ConvergeHub Lead Generator: This free tool lets you instantly capture qualified leads from websites, emails, and social media.
HubSpot Marketing & Lead Generation Software: This free tool includes lead generation functionality, such as a landing page builder.
HubSpot Website Grader: This site grades your website and provides tips on improving it.
Bitrix24 Lead Generation Software: This service helps you capture more leads from social media channels and nurture them into deals.
Hootsuite: The company provides a free limited plan for managing social media.
Hotjar: This service helps you understand how users experience your website.
AddThis: This site provides simple, well designed share buttons that help extend the reach of your website and content.
Finding a lead generation agency that works for you
There are hundreds of B2B lead generation companies in the USA to choose from. Do your research to find what agencies you can work well with and will deliver on their promises.
To summarize, here’s a checklist of questions to use in your search for the ideal lead generation agency for your company:
- What type of lead generation company are they? Do they primarily work with large or small businesses? Are they an inbound or outbound agency? Do they specialize in a particular industry?
- What is their lead generation strategy and process? How well will they tailor their services to your needs?
- Where do they get their leads and how do they qualify and manage leads?
- What tools and technologies do they use to manage, automate, and optimize campaigns?
- What is their experience and reputation in the industry? Do they have success stories to share?
- Who are the people on their team? Will you have a dedicated team?
- How do they measure performance and results?
- What are their project terms and specifics?
Need help researching your ideal lead generation agency? Talk to our ViB team for a no-frills discussion on whether we’ll be the right fit for you.