Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing the sales pipeline.
Lead generation often uses digital channels and has been undergoing substantial changes in recent years from the rise of new online and social techniques. In particular, the abundance of information readily available online has led to the rise of the “self-directed buyer” and the emergence of new techniques to develop and qualify potential leads before passing them to sales.
The buying process has changed, and marketers need to find new ways to reach buyers and get heard through the noise. Instead of finding customers with mass advertising and email blast, marketers must now focus on being found and learn to build continuous relationships with buyers.
In marketing, lead generation is the initiation of consumer interest or inquiry into products or services of a business. Leads can be created for purposes such as list building, е-newsletter list acquisition or for sales leads. The methods for generating leads typically fall under the umbrella of advertising but may also include non-paid sources such as organic search engine results or referrals from existing customers.
Leads may come from various sources or activities, for example, digitally via the Internet, through personal referrals, through telephone calls either by the company or telemarketers, through advertisements, and events. A 2015 study found that 89% of respondents cited email as the most-used channel for generating leads, followed by content marketing, search engine, and finally events. A study from 2014 found that direct traffic, search engines, and web referrals were the three most popular online channels for lead generation, accounting for 93% of leads.
Lead generation is often paired with lead management to move leads through the purchase funnel. This combination of activities is referred to as pipeline marketing.
A lead is usually allotted to an induvial to follow up on. Once the individual (e.g. salesperson) reviews and qualifies it the lead gets converted to an opportunity for a business. The opportunity then has to undergo multiple sale stages before the deal is won.
Branding to Boost Your Lead Generation
These branding strategies and business tactics have additional benefits. You can implement these tips without a huge budget.
Enter your email address to subscribe to this blog and receive notifications of new posts by email.