Lead generation refers to the process of engaging prospective customers as a way to accelerate future sales. It is an essential part of a company’s sales process.
A ‘lead’ is a person who has demonstrated interest in the services or products a business provides. They may or may not yet be prepared to make a purchase.
The Changing Landscape of Lead Generation
In the past, lead generation focussed on buying a list of names and ‘cold calling’ prospects while they were at home. However, modern technology has allowed companies to generate higher quality leads by sorting them based on various criteria.
Organisations can gain significant knowledge about prospects and tailor their marketing to the potential customers’ needs.
High-quality lead generation can supercharge the efficiency of your sales cycle and increase the rate of customer acquisitions.
Modern Lead Generation
There have been significant changes in the buyer’s journey thanks to the power of the internet and the ease at which people can access information.
In days gone by, sales employees would ring prospects out of the blue to promote their products, unaware of the level of interest the potential buyer possessed.
But with information being acquired so easily in modern times; customers can use search engines, social media platforms and blogs to research a product extremely thoroughly before ever contacting the company in question.
Because of this, customers tend to not be as receptive to traditional sales pitches; as such a pitch might not relate to their specific needs or situation.
Therefore, it is vital that businesses focus on growing a large online presence in order to generate new leads. You can do this by employing inbound marketing techniques.
This digital age has also increased the ease with which companies can gain knowledge on potential leads. By understanding the desires of prospective customers, companies can design their marketing in a way that draws them in more effectively and nurture them until they are ready to make a decision.
Additionally, businesses can also sort leads based on various factors such as their demographic or level of engagement. One way of doing this is through lead scoring.
Companies should make sure that they don’t just generate new leads but also collaborate and grow successful partnerships with them.
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