An important decision that many healthcare technology companies need to make is whether to make the investment of building an in-house lead generation team or to hire a dedicated outside resource to propel qualified leads to support sales efforts.
Hire In-House or Outsource Your Lead Generation Efforts?
The wrong decision can beget millions lost, negative profit margins, and a frustrated sales team.
According to a Lead Generation B2B Marketing Survey, the greatest barrier to the success of hiring internally is lack of resources, including staff, budget, and time. With 25 years of intimate experience with clients throughout the nation, we agree wholeheartedly. We’ve witnessed many who attempted to build their team in-house utilizing great effort and resources, only to return to NIHR.
Some of our clients have experienced the efficacy and success of our lead generation model and have, at times, attempted to duplicate our process in-house. As a business, it may appear on the surface to make sense as far as cost savings and maintaining expert staff internally, however, these clients quickly return to us having realized the challenges of recruiting and retaining the caliber of staff they have become accustomed to while engaged with NIHR.
Our clients provide a specialized service or product. Our team understands the best of breed approach and how it allows each partner to focus on their core competency. It’s only a compliment when our clients think they can duplicate our process on their own, only to come to appreciate the model we have worked to perfect over decades.
At NIHR, we have clients who request us to help train their new sales executives. We have been a team member longer than some of the company hires and our clients know they can count on us through the long haul. We help get their new staff members up and running. Additionally, some companies use our services to help lure new hires. A company that aggressively supports their field team with qualified lead generation services is a progressive company. Talented sales professionals recognize this when considering the position.
If you’re unsure whether to hire internally or outsource, we’ve outlined some of the considerations of building your own team and the specific benefits of retaining an outsourced dedicated vendor to manage this essential aspect of your business.
Time is Money
This isn’t just a cliché’, it’s a fact that affects your bottom line. The biggest drawback of hiring and maintaining an inside lead generation team is the consumption of time and resources. The extensive short and long-term expenses risk your profitability. In creating an in-house process, consider the time and energy utilized to:
· Provide Oversight
Internal Administrative Costs Add-Up
All add up along with the hefty administrative and business costs associated with each staff member. Furthermore, once you think you have an internal team established, average staff turnover rates in the lead generation industry range from 30-45%, according to a Quality Assurance and Training Connection Study. This turn-style approach to staffing shifts the lion’s share of focus away from the most important aspects of your business, taking away from your marketing and sales goals. Other costs of hiring internally include sourcing space and maintaining workspace infrastructure such as furniture, computers, electronic equipment.There is also the necessity of increased staffing and department infrastructure including IT support, phone and data networks, employee benefits, human resources, to name a few.
Attracting, Sourcing & Retaining Expertise
Attracting, sourcing and retaining expertise is a long-term problem for numerous companies not only in terms of loss of time, but also loss of leads and prospects. Customer satisfaction may wane as callers deal with representatives who are too new to adequately handle problems or provide knowledgeable answers or even ask the right questions. At NIHR, we do more than contact leads. Our seasoned staff ask probing questions and collect detailed information so that your sales force has a tremendous head start when following up on opportunities.
The NIHR Difference
At NIHR, the numbers speak for themselves—97% of our clients are repeat business and our average staff tenure is over 10 years. Our seasoned professionals have already enjoyed a tenured career either selling into the healthcare market or working within the provider environment. Our team has a proven track record communicating with all levels of prospect markets ranging from directors, managers and C-Suite executives. Each client has a dedicated team working on their custom campaign. We know them, and they know us.
Your sales team is too valuable to take a chance on an in-house process that may end up costing you millions in lost revenues. Contact NIHR and learn more about our 90 Day Proof of Concept Campaign!
Founded in 1992, NIH Research & Consulting (NIHR) provides professional consulting, specialized market research and lead generation to the healthcare and healthcare information systems industries. NIHR’s educated industry experts develop and implement high-level marketing and sales support services. NIHR excels in delivering informative research and quality leads to clients and has a proven track record of providing essential market insights to the highly technical healthcare industry.