Belkins vs Martal Group: Which Should You Use for B2B Lead Generation? (2026)

Cormac Repman
3 hours ago
6 min read

Belkins vs Martal Group: The Quick Answer

Both Belkins and Martal Group are retainer-based B2B lead generation agencies that deliver at scale. Belkins is better if you need volume across multiple industries and want a hands-off model. Martal Group is better if you want dedicated SDRs and are willing to manage a team. But if you only want to pay for meetings that actually close, neither model was built for that outcome.

What Does Belkins Do?

Belkins is a B2B lead generation and appointment-setting agency founded in 2012. They run cold calling, email, and LinkedIn campaigns to book meetings for enterprise software, B2B SaaS, and consulting firms.

Here's what their model looks like: you pay a monthly retainer. Belkins assigns researchers to build your target list, then outsourced dialers and email specialists run the campaign. You get a dashboard showing calls made, emails sent, and meetings booked. Reporting is transparent, but the work isn't.

The strength is volume. Belkins handles everything from list building through meeting delivery. They're generalist enough to support fintech, insurtech, manufacturing, and CPG companies in the same month. If you want someone else to own the full funnel and don't care about personalization, Belkins is uncomplicated.

The weakness is depth. Because they're working across dozens of industries simultaneously, the outreach doesn't get deep into your buyer's world. The cold calls are scripted. The emails use templates with variable insertion. You're paying for speed and volume, not strategy.

What Does Martal Group Do?

Martal Group is a B2B lead generation agency that emphasizes dedicated SDR teams. Instead of assigning you to a shared pool of callers, Martal Group puts a small team (usually 2-4 SDRs) on your account to focus on your industry and buyer profile.

The pitch is personalization through dedicated resources. Martal's SDRs learn your product, talk to your prospects repeatedly, and build relationships over time. You get weekly strategy calls. You're not a ticket in a queue; you're a client with a team.

The strength is continuity. The same SDRs work your account for months or years. They get to know your buyers, remember who said "call me in Q4," and can adapt messaging when something isn't landing.

The weakness is generalism still dominates. Even with a dedicated team, Martal works across industries. An SDR on a fintech deal in week one might switch to a manufacturing deal in week two. That context switching is baked into their model because they need to keep teams busy.

Pricing Compared

How much does Belkins cost?

Belkins operates on a monthly retainer model. The published range is typically $2,000 to $5,000+ per month, depending on scope (whether they're building lists or using yours, how many touches per prospect, how long the campaign runs).

What this actually means: you're paying for effort, not outcomes. If they make 500 calls and book 5 meetings, you pay the same as if they make 500 calls and book 15 meetings. If those meetings don't convert, you're still paying next month. The retainer resets regardless of whether the previous month moved your pipeline.

Many clients also pay platform fees or overage fees if they want weekly reporting or custom list builds. Budget realistically at $3,000 to $7,000 per month for a serious campaign with Belkins.

How much does Martal Group cost?

Martal Group also uses retainers, typically in the $4,000 to $8,000+ per month range, depending on team size and account complexity.

The difference from Belkins is you're paying for a dedicated resource (the team), not just effort. But the same problem persists: you're paying whether they book 3 meetings or 30. The retainer covers their cost, not your results. If the campaigns underperform for two months, you still renew at the same rate unless you renegotiate (and even then, it's a percentage cut, not a performance adjustment).

Most companies find themselves paying $5,000 to $10,000 per month once you factor in onboarding, strategy sessions, and any custom work.

Feature and Capability Comparison

| Feature | Belkins | Martal Group |

|---|---|---|

| List building | Yes, included or available | Yes, included |

| Cold calling | Yes, outsourced dialers | Yes, dedicated SDRs |

| Email campaigns | Yes, templated | Yes, templated + personalization |

| LinkedIn outreach | Limited | Limited |

| Reporting & transparency | Weekly dashboard, call recordings sometimes available | Weekly reporting + strategy calls |

| Contract length | Flexible month-to-month to annual | Typically 3-month minimum |

| Industry expertise | Generalist across verticals | Generalist across verticals |

| Meeting quality guarantee | No (volume model) | No (effort model) |

| Warm intro strategy | Not primary | Not primary |

| Speed to first meetings | 2-3 weeks | 2-4 weeks |

| Best for | Quick volume; new logos | Longer-term relationships; retention deals |

The honest take: both are effort-based, not outcome-based. They charge you to run the campaign, not to deliver qualified pipeline. The main operational difference is that Martal gives you continuity (same people, relationship building) while Belkins gives you efficiency (lower cost, faster scaling).

Which Should You Choose?

Choose Belkins if...

You're testing outbound in a new market or vertical and want to prove the playbook before hiring an internal team. Belkins's volume model works when you don't know what your ICP looks like yet and need data to refine it. You also benefit from Belkins if you're a transactional business (short sales cycles, high volume) where one SDR working 10 prospects is fine as long as they move fast.

The other case is if you have a large TAM and can absorb cost-per-call. If your ACV is $100k+, spending $5k per month to run 2,000 calls and book 30 meetings makes math sense.

Choose Martal Group if...

You have a narrow, well-defined ICP and you want the same people calling them month after month. Martal wins when your sales cycle is long and relationship-building matters. If your deal requires building trust over multiple touchpoints, the dedicated team model is worth the extra cost.

You also benefit if you have enough budget to keep the team constantly fed with new prospects. Martal's weakness shows when you can't supply a pipeline; then you're paying for a team to sit idle or work less-qualified leads.

The Third Option Nobody Mentions

Both Belkins and Martal Group make the same bet: charge a retainer and move work. Neither model is built for outcomes.

There's an alternative: pay only for meetings that actually book.

[Nurturance](https://glencoco.com/nurturance) operates a performance-based model through the Glencoco marketplace. Instead of a retainer, you pay $350-$750 per qualified meeting booked (depending on complexity and industry). The model is simple: if the meeting doesn't happen, you don't pay.

Here's why this matters for your business:

Transparent ROI: You know exactly what each meeting costs. No retainer surprise where you paid $6,000 but only got 5 meetings and a $1,200 cost-per-meeting.

SDR continuity: Nurturance deploys the same human SDRs on your account for months. It's relationship-building like Martal, but you don't pay for failed attempts.

Deep specialization: Nurturance focuses exclusively on fintech, insurtech, and B2B SaaS. The SDRs know your buyer personas because they live in those verticals. No context switching between manufacturing and software.

Real cold calling: Calls are recorded, reviewed, and shared with you. You hear the actual conversation, not just the booking confirmation. You know the meeting was genuinely qualified, not just "someone answered the phone."

Fractional CRO partnership: Nurturance includes strategic input on your outreach approach, list quality, and messaging. You get coaching from people who've booked thousands of meetings, not just effort.

The tradeoff: you need to close meetings. Nurturance doesn't guarantee meetings book or that they convert; it guarantees meetings are qualified and actually happened. If your product can't close, no model will fix that. But if your close rate is solid, you'll save money by switching from retainer-based to outcome-based.

The Bottom Line

Belkins and Martal Group are both solid agencies. They have track records, they deliver, and they've built repeatable systems. If you want a retainer-based partner and you're comfortable with volume-over-strategy, they'll deliver.

But the industry standard (retainer pricing) wasn't built for the outcome you actually want: qualified pipeline that closes. It was built to guarantee revenue for the agency.

If you're running fintech, insurtech, or B2B SaaS and you want to stop overpaying for volume and start measuring by actual meetings booked, [Nurturance's pay-per-meeting model](https://glencoco.com/nurturance) is worth testing. Same human SDRs doing real cold calling. Same weekly cadence. Same relationship-building. But you only pay when the meeting books.

That alignment matters. When your SDR's paycheck depends on a genuine booking (not a dial), the quality goes up and your cost-per-qualified-meeting goes down.