What is lead generation?

Lead generation uses marketing to generate interest for a company’s products and services, turning a lead into a prospect and nurturing them down the marketing funnel.

Useful for brands both large and small – as well as for B2C and B2B marketers – leads are vital to a business’ growth and sustainability, but many companies struggle with how to generate solid, actionable customer leads. 

What is the difference between a lead and a prospect?

A prospect is a qualified lead and can be anyone in your target market. Once you determine a lead is interested in your brand, is willing to work with you, and is capable of making or influencing buying decisions, that lead has been qualified, moving forward in the pipeline to become a sales prospect.

What is a lead generation strategy?

A lead generation strategy is an intentionally designed, multi-faceted plan to stimulate customer interest. Essentially, it’s a strategy that tells marketers how to generate leads. 

A lot of companies incorporate advertising, social media, chatbots, newsletters, and email marketing into their lead generation strategies. 

“As today’s customer is inundated with information, it’s important to build relationships with your potential customers through compelling and value-driven content “

Website blogs are another way of attracting leads, as are online coupons, free trials and demos, as well as product giveaways. 

As long as a user provides their contact information  – such as an email address – in exchange for accessing that content or taking advantage of those incentives, these methods have fantastic lead generation potential. 

As today’s customer is inundated with information, it’s important to build relationships with your potential customers through compelling and value-driven content.   

What are lead generation services?

Some companies employ external lead generation services to capture leads. These services use a variety of methods for obtaining leads, passing on the best ones to their clients for further action. 

What software is used for lead generation?

There are many software tools available to help generate leads. 

In most cases these tools allow businesses to add pop-ups, chatbots, contact forms, and other attention grabbers to their websites that will encourage customers to share personal information, such as an email address or a phone number. 

Some software is savvy enough to identify potential customers even when they don’t disclose any information. 

Captured leads are usually funneled from lead generation software tools into sales and marketing databases.

What is involved in lead management?

Lead management encompasses everything a business does to get leads, qualify them, nurture them, and move them forward to the point of converting prospects into customers. 

The better you are at lead management, the better your conversion rate will be. 

Is lead generation marketing or sales?

So, who is responsible for lead generation, the marketing team or the sales team? The answer the majority of time is both. 

Marketing campaigns aimed at brand exposure and demand generation grow a company’s prospect and lead pools. 

Marketing departments can sometimes qualify leads as prospects, which are then passed off to the sales team for further qualification and conversion. At the same time, good salespeople regularly comb through marketing databases for leads while finding ways of generating leads themselves. 

Both groups, sales and marketing, should have a vested interest in lead generation and lead management.