Lead generation is the process of generating interest from your target customer base to effectively increase future sales. Lead generation is a crucial component in the sales strategy of any company.
A “lead” is any person who shows interest in the products or services of a company but isn’t yet qualified to purchase something. These people represent potential customers that may be willing to invest in your organization’s products or services in the future.
An effective lead generation strategy ensures that a business can continue generating profit and revenue from new customers.
Lead generation has always been a part of the sales process. However, as the way that consumers interact with brands changes, thanks to digital transformation, the techniques that companies use to generate and nurture leads has evolved.
In the past, the majority of lead generation techniques were “outbound” in nature. Sales representatives reached out to uneducated buyers to introduce them to services and products. Today, consumers have far more control over their own buyer journey. Through social media, blogs and other content, customers become aware of a product before they ever interact with a salesperson.
Lead generation provides companies with a foundation on which they can build valuable relationships with a target audience. When strangers initiate connections with your company by reading your blogs or liking a post on Facebook, their transition from stranger to customer is much simpler.
Lead generation takes place in the second stage of the inbound marketing buyer journey after you’ve attracted an audience and you’re ready to start converting those visitors into sales. The steps of the lead generation process include:
Most companies use a variety of lead generation techniques today, to generate more attention for their products and services. Common lead generation strategies include:
Crucially, for a lead generation strategy to be successful, marketing and sales need to interact throughout the process. With techniques like social selling, networking and outbound emailing, sales teams can support the lead generation process, and assist with lead qualification.
Lead qualification is the process of determining whether leads are ready to be passed to the sales team based on things like their alignment with a company’s user persona. Customer Relationship Management software is often used to track and evaluate leads before they’re delivered to sales.
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