What is Lead Generation?

what is lead generation

Lead generation refers to the process of creating interest in a business offering for the ultimate goal of generating sales. For many businesses trying to generate interest in your company’s offering can be a challenge. Many businesses either don’t have the time, money, or capabilities to find new customers, particularly when they are on the smaller side. Fortunately, many tools are available to help assist in lead generation including automation.

The Importance of Lead Generation

Given that without customers it is not possible to generate sales, lead generation is extremely important. In the past, many companies were reliant on sending out standardised messages to consumers, in the hope that they would be heard.

However, many businesses are now having customers find them and building relationships with these customers. Fortunately, with the growth of the internet, it has become far easier for lead generation to occur. The access to the internet has grown exponentially, and as such so has the importance of lead generation.

Outbound and Inbound Marketing

For lead generation to occur, it is important that customers are able to find your business. That is where inbound and outbound marketing come in. As the name suggests, outbound marketing involves marketing that is sent from the business to the consumer. Generally, outbound marketing can be found on platforms that are not owned by the business. As such outbound marketing includes mediums such as emails and advertisements.

Inbound marketing, on the other hand, involves measures to help customers find your business. Inbound marketing includes aspects such as your business’ website, Search Engine Optimisation (SEO), and social media platforms. Inbound marketing measures are becoming far more common, given that it exposes your company to businesses already looking for your company or a company with a similar offering.

Lead Generation Process

The lead generation process usually has three key stages. The first stage involves the customer being exposed to your business or products. This usually occurs through inbound and outbound marketing. Then the customer will generally find the way to your company’s website, either by clicking links to your landing page, through social media, mail, blogs, advertisements, or on google.

Finally, the customer will receive an offer (such as a free trial or additional product information), in exchange for information such as an email address or contact number. Although a lead has been generated, you should not become complacent. Now, it is important to ensure that efforts are made to build relationships with the generated leads in order to eventually move through the sales funnel.

Where Do I Begin?

Although lead generation may sound like a relatively straight forward process, creating a cohesive marketing strategy that can lead to lead generation is not so simple. Yet, when lead generation is done effectively, the results can be extremely worthwhile for your business. To find out more about how we can help attract and generate leads for your business reach out to us today.

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