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The Value of Lead Generation
If you were to scan job boards for a career in lead generation, appointment setting, or teleprospecting, you’d find a wide range of salaries. Some positions pay as little as $8.00. Others can pay as high as six figures when you include salary, commission, and bonuses. So just how do you put a value on lead generation?
Business-to-business lead generation is catching on in companies all across the country. Many companies hire a third-party firm to perform the duties. Others hire people with a sales background or simply train current employees. The goal is always to call on leads, qualify them to the fullest, and provide a logical next step for the outside sales team. A next step could be a face-to-face meeting, a conference call, or a webinar.
Why is there such a disparity with lead generation salaries? I believe there are a few reasons. First of all, it is a company’s job to make as much profit as possible. That often means paying employees as little as they can get away with. Secondly, there is no guarantee that any qualified lead will become a closed deal, so determining the value of providing them can be complicated. Finally, each company has its own unique product and service offering, and the value of those offerings can be dramatically different from company to company. For example, a company selling $500.00 coffee makers may pay significantly less than a software company selling an ERP solution valued at $500,000 per item.
To make the most of a lead generation career, lead generation experts must become experts in their field. For example, if the majority of lead generation jobs are with software companies, lead generation experts must study the ins and outs of software and keep up with trends. Lead generation reps must also practice becoming excellent cold callers, which involves choosing the right words to spark an interest and learning to overcome objections. You’ll find that many of the top-paying lead generation reps have a sales background but they also have some expertise in the field in which they are calling.
When you become an expert in the field, you determine the value of lead generation. It doesn’t matter if you work for a company, a lead generation firm, or start your own company. The value of what you do and what you accept as payment for it is entirely up to you.
– E. R. Carpenter
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