Sales are the lifeblood of any business.
And lead generation is how you keep your sales pipeline full.
But as an entrepreneur, you likely already have too much on your plate, so you may not always be able to give it the attention it deserves.
However, neglecting lead generation can have disastrous consequences. Once leads stop coming in, sales drop off the cliff and revenue dries up. So how can you avoid that?
Here’s what we are going to discuss today:
- What do lead generation specialists do?
- Why you should consider hiring a lead generation specialist?
- How to hire a lead generation specialist?
Ready to take your lead generation to the next level?
What Is a Lead?
A lead is a potential customer who:
- Has expressed an interest in your product or service.
- Has given you their contact details (typically their name and email address or just their email address).
Alternatively, it can be someone who has not given you their contact details but who has expressed an interest in your product once you have reached out to them directly.
What Is Lead Generation?
Lead generation is the process of converting potential customers into leads by persuading them to give you their contact details.
Typically that is done through implementing a lead generation funnel:
- You create a super valuable lead magnet that you offer to the potential customer in exchange for their email address.
- You create a landing page for that lead magnet.
- You drive traffic to that landing page.
What Do Lead Generation Specialists Do?
Lead generation specialists focus on:
- Increasing lead quantity.
- Improving lead quality.
In other words:
Their job is to help you generate more and better leads.
Typically, they specialize in one lead generation method, such as paid advertising, webinar marketing, content marketing, social media marketing, influencer marketing, etc.
You should be wary of lead generation specialists that don’t have a specialization like that because they are likely to be Jacks and Jills of all trades, masters of none.
Why You Should Consider Hiring a Lead Generation Specialist
When you are just starting out as an entrepreneur, you have to juggle a bunch of tasks, including product development, marketing, sales, and more.
- There are only 24 hours in a day.
- You need to take care of your health (sleep, eat, exercise, etc.).
- You might have other responsibilities such as familial obligations to your spouse, children, relatives, etc.
All this means that there’s only so much that you can do by yourself.
It’s okay to be a one-man or a one-woman show at the beginning but you need to start delegating if you want to grow your business beyond that.
Lead generation is one of the tasks that you should consider delegating because it is directly tied to your revenue which makes it easy to evaluate return on investment.
A lead generation specialist will likely:
- Do a better job at it than you because they specialize in this area.
- Be able to spend more time on it than you because it is their only responsibility.
As our co-founder Russell Brunson explains, entrepreneurs tend to get to level 6-7 at a bunch of different skills because they have to wear so many hats at once.
However, if you want to replace yourself, you need to start delegating tasks to people who are at level 10 when it comes to a specific skill, which can then help take that area of your business to the next level.
So find someone who is a master at lead generation.
You won’t regret it.
How To Prepare For Hiring a Lead Generation Specialist
Want to get the most out of the money you invest in delegating lead generation?
Then you should prepare before you bring a lead generation specialist onboard.
Step #1:Clearly Define Your Dream Customers
Take a look at your sales data.
Here’s what you want to ask:
What common traits do the 20% of the customers that bring in 80% of the revenue share?
This is an application of the 80/20 rule aka the Pareto principle. The exact ratio doesn’t have to be 80/20. What we are talking about here is the minority of the customers that bring in the majority of the revenue.
Use that information to clearly define your dream customers so that you could explain to your lead generation specialist who they should focus on.
Keep in mind that the purpose of lead generation isn’t to collect a bunch of random email addresses, it’s to get the contact information of your dream customers.
Step #2: Identify Your Most Effective Marketing Channels
Figure out what marketing channels are most effective at acquiring that 20% of the customers that bring in 80% of the revenue.
You can apply the Pareto principle here as well because it is likely that 1-2 marketing channels are responsible for bringing in the majority of these dream customers.
This will help you understand what kind of lead generation specialist you should hire.
Say, if your most effective marketing channel is Facebook ads, then it would make sense to bring on someone who specializes in that.
Of course, this is not to say that you shouldn’t experiment with other marketing channels, but one of the most important heuristics in business is “Do more of what works”.
Step #3: Build a Sales Funnel
A lead generation specialist can help you get more and better leads, but then it’s up to you to convert them into paying customers.
We believe that the most effective way to sell online is a sales funnel model called the Value Ladder.
Here’s how it looks like:
There are four stages:
- Bait. You offer the potential customer a lead magnet in exchange for their email address.
- Frontend. You offer the potential customer your least expensive and least valuable product.
- Middle. You offer the customer a more expensive and more valuable product.
- Backend. You offer the customer your most expensive and most valuable product.
This sales funnel works so well because it allows you to build trust with that person by:
- Continuing to provide free value.
- Offering progressively more paid value at each stage.
Here’s how Russell explains the reasoning behind this approach:
You want to get a Value Ladder sales funnel in place before you hire a lead generation specialist because it will allow you to convert more of the leads that they bring in.
By the way, you don’t need to have an entire product line prepared to implement this sales funnel model, you can start with just one product.
Russell can teach you how to build your first sales funnel. More info on that at the end of this article.
How To Hire a Lead Generation Specialist
Okay, so now that you are prepared to bring on a lead generation specialist, how should you go about hiring one?
Freelance vs. In-House vs. Outsourced
You have three options when it comes to delegating lead generation:
- Working with a freelancer. This is the least risky approach because you can pay someone for a month, look at their results, then either continue working with them or find someone else.
However, this lack of commitment goes both ways, which means that a freelancer probably won’t be as reliable and as dedicated as an employee since they have less investment in the project.
After all, you are just one of their clients, not their employer.
- Hiring in-house. This approach is riskier because firing an employee, whether a part-time or full-time one, is much more complicated than firing a freelancer.
However, an employee is likely to be more reliable and more dedicated than a freelancer because they have more investment in the project.
After all, it is harder to find a new job than to replace one of several freelance clients.
- Outsourcing to an agency. The risk involved in this approach depends on the contract that you sign. Is it easy to get out of if you are not getting the results that you hoped for?
Other than that, an agency is likely to need less guidance than a freelancer, but there will also probably be a less human connection because you will likely not interact with people who are doing the actual work.
This means that those people are likely to be even less dedicated than freelancers since they will probably have even less investment in the project, what will matter to them is keeping their job at the agency.
That being said, outsourcing to the right agency can allow you to not think much about lead generation at all and focus on other tasks.
There’s no one-size-fits-all solution here, what’s important is that you consider the pros and cons of each option, then go with the one that suits the needs of your business the best.
How Much Should You Pay a Lead Generation Specialist?
In the United States, the average lead generation specialist hourly wage is $22, with the bottom 10% earning $17/hour on average and the top 10% earning $29/hour on average.
Meanwhile, the average lead generation specialist annual salary is $45,413, with the bottom 10% earning $35,007/year on average and the top 10% earning $59,457/year on average.
That being said, lead generation is a job that can be done remotely, so you might want to consider expanding your search to regions where the cost of living is lower than in the United States, such as:
- Central and South America.
- Eastern, Central, and Southern Europe.
- The Middle East.
- South and Southeastern Asia.
Hiring a lead generation specialist from one of these regions can help you get the same quality work for less money (this is known as geo arbitrage).
Of course, this approach comes with challenges of its own, such as time differences, cultural differences, etc.
Where To Find a Lead Generation Specialist?
Here are the top three places to look for a lead generation specialist:
- LinkedIn. It is the #1 professional social network in the world. You can use it to search for candidates and message them directly.
- UpWork. It is one of the most popular freelance marketplaces out there. Simply post a job ad, provide a detailed job description, then hire the most promising applicant for a trial period.
- DynamiteJobs.It is one of the top remote job boards so you can post a job ad there if you are looking to hire someone part-time or full-time.
Set the Right KPIs!
Lead generation requires balancing:
- Lead quantity
- Lead quality
You don’t just want more leads, you want more and better leads.
This should be reflected in the incentives you give to your lead generation specialist.
We recommend using these two key performance indicators (KPIs):
- The number of leads generated in a specific time period.
- The lead-to-customer conversion rate of those leads.
This will help your lead generation specialist strike the right balance between lead quantity and lead quality.
Of course, you need to make sure that the KPIs are realistic, so you can start with setting them at your current level of performance, then gradually increasing them as the lead generation specialist becomes better acquainted with your business.
Want Russell To Teach You How To Build Your First Sales Funnel?
Hiring a lead generation specialist can help you bring in more and better leads.
But then you will have to convert those leads into paying customers and into repeat customers.
You need a sales funnel for that. Want to learn how to build one?
Check out our 5 Day Challenge.
You will learn how to:
- Generate unlimited leads.
- Create your first lead magnet.
- Build your first sales funnel.
- Create a simple 6-email follow-up sequence.
- And launch your funnel!
…in just five days.
So don’t hesitate.