Lead generation is said to be one of the critical practices in the business world today. It is the process where a person or an organization who exhibits some interest in some product or service is targeted for sales. Such person is a potential customer and lead generation is one of the very initial steps of the sales process.
Lead generation involves a mix of strategies and ideas that are targeted at finding the right person to pitch sales. With the internet, the whole process of lead generation has transformed. Before sales are discussed, both the parties have researched enough about each other and know exactly what they are looking for from each other.
Who is a qualified lead?
Any prospect is said to be a qualified lead if it fulfills all your qualification criteria. You will have to look for answers to the following questions when qualifying a lead:
- Do you they fit in your budget?
- Who is the decision making authority?
- What is their purchasing power?
- To what extent are they interested in your products or services?
- What products or services are they using right now?
- Why do you think you can help them?
Lead generation helps the sales team drive results by nurturing the relationship with the potential clients. Any business grows rapidly if they have a steady stream of qualified leads. This can include established businesses as well as startups. The process of lead generation can help startups get valuable information which can be crucial for their success.
Why is Lead Generation important?
The question now is that why would a business go through the whole process of lead generation instead of directing investing in the sales process? Here are a few reasons that will help you understand the importance of lead generation.
- Today’s consumers are well informed and smart
The consumers today are smart, educated, and well informed. Before you go to them, they have already researched about you from the internet. Therefore, they won’t like to be sold to. They are looking for solutions to their problems and are interested only in services or products that they feel are made for them.
- Need to go beyond typical experience
Secondly, customers are not interested in typical experience. They want something that goes beyond the supply-demand relationship. They want to feel like their problems are being heard and a solution is being provided to them.
- Quality over quantity
Lead generation process focuses on quality than quantity. Prospects of quality are always important as they have potential to stay connected to your business in a long run. This eliminates the need for pitching sales again and again to a large number of people.
- A mix of Inbound and Outbound Marketing
Lead generation involves a mix of inbound and outbound marketing strategies. Inbound marketing includes blog posts, white papers, how-to videos, case studies, webinars, etc. Outbound strategies include cold calling, cold emailing, radio/TV ads, Newspaper ads, pay per click ads, etc. Ideally, these strategies are used together to achieve maximum results. Inbound marketing focuses on audience engagement while outbound marketing results in sales.
Lead nurturing is another important process to be kept in mind. Once you are able to attract a lead, it is important to establish a relationship with it in order to convert them into a paying customer. This requires you to communicate with them on a regular basis and answer all their questions. Nurturing a lead means building a relationship with the client that convinces them that you care about their needs.
MarkSpace Media is a leading lead generation company where we do everything to generate leads for you. As you understand, lead generation is important for seller and buyer alike, we focus on marketing strategies that will benefit you as a business. This includes choosing right marketing channels while keeping it cost-effective. Lead generation is vital to the growth of any business.