It means that generating leads for any business is increasingly challenging. It requires specific skills, expertise, and tools. What worked last year may not work this year. The playing field is changing, and so must your strategies.
To navigate these uncertain waters, you need a well-designed go-to-market strategy that makes your company remarkable in your industry, so prospects notice you and want to do business with you. This involves designing and orchestrating complex, highly personalized, omnichannel campaigns that are launched with clear expectations and optimized over time.
Is your current team capable of doing that? Is your current agency? I didn’t think so.
Here are your options for navigating these choppy and uncertain waters:
Option 1: Do the Same Things You’ve Always Done
Many businesses opt for this approach because it feels safe, inexpensive, and low-effort. However, this strategy rarely yields different results. Relying on hope as a strategy is ineffective, and the results will likely remain stagnant.
Option 2: Do It Yourself
Some businesses prefer to handle lead generation in-house, thinking it’s cheaper than hiring an agency and that in-house staff can focus solely on their company. This approach has merits but also significant challenges:
- Cost: Hiring a director-level marketing person can cost $100k to $150k annually, including taxes, benefits, and equipment. Junior hires require you to micromanage, which is not ideal.
- Skill Gaps: A single person may not have the expertise in all areas needed, such as web design, graphic design, copywriting, marketing technology, and running campaigns on multiple platforms. This may necessitate hiring additional staff or contractors, increasing costs.
- Turnover: Employees can quit anytime, causing delays and additional costs to hire and train replacements.
- Time: Building a functional team and seeing results can take at least six months.
Option 3: Find an Inexpensive Agency To Help
Hiring an agency has advantages but also risks:
- Quality: Lower-cost agencies often hire less experienced staff, resulting in subpar work and a lack of strategic guidance.
- High Turnover: Junior staff at these agencies frequently move on to better opportunities, causing disruption and delays.
- Efficiency: These agencies may lack proprietary frameworks, systems, and processes, leading to inefficiencies and higher overall costs due to longer project timelines and rework.
- Strategy: Low-cost agencies might jump straight into tactics without addressing crucial strategic elements like messaging, differentiation, and buyer journeys.
Option 4: Hire the Best Agency Money Can Buy
Alternatively, consider hiring a high-value agency that brings:
- Strategic Focus: An agency that starts with strategic work ensures your campaigns are built on a solid foundation of messaging, differentiation, and market understanding.
- Proven Systems: Look for agencies with proven systems, processes, and tools that have demonstrated success over many years. These agencies can scale their client programs efficiently and effectively.
- Transparency and Collaboration: The best agencies involve you in the co-creation process, provide transparency, and make data-driven recommendations, ensuring you’re always informed and aligned.
- Expertise: These agencies employ experienced professionals who can handle all aspects of lead generation, reducing risk and accelerating results.
While this option may seem more expensive upfront, it often proves to be more cost-effective and less risky in the long run due to quicker and more substantial results.
Conclusion
Each of these four options presents a viable path for growing your business through lead generation. Your choice should be informed by your specific needs, resources, and willingness to invest in a strategy that aligns with your business goals. Investing in high-quality strategic marketing can transform lead generation from a cost to a significant driver of growth.
