What is lead generation? In simple terms, lead generation means to stimulate and seize customer attention towards a brand’s product or service to develop a sales pipeline. This process often makes the use of digital channels, and has been undergoing substantial changes in the past recent years owing to the growth of new online and social techniques.
So, why is lead generation important? Witnessing the change in the process of buying and selling, marketers today require finding new ways to reach buyers and get heard through all the noise. So, their mission is to focus more on being found rather than finding customers with mass advertising and email blasts.
The world has changed from one that is scarce with information to an abundant source. The only problem that stands in the way is that this abundance of information equals to a scarcity in attention. This has transformed the buying process. Buyers are overwhelmed with all the noise and they are getting better at ignoring the messages that they do not want to hear. Instead they prefer researching what they want to learn about, on their own.
Many marketing departments are allocating more budget to lead generation tactics. Inbound marketing spend has been growing as companies need to find more creative ways to get in front of the customer and break through the noise.
Another shared sales and marketing methodology for ranking leads to determine their sales-readiness is the method of lead scoring. Customers score leads according to the interest they show in a business, their current behaviour in the buying cycle, and their suitability according to your business. Lead scoring helps businesses understand whether prospects need to be fast-tracked to sales or developed with lead nurturing. Lead scoring is essential to strengthening your revenue cycle, effectively drive more ROI, and align sales, and marketing.
Businesses should analyse their strengths to increase effective results across all business functions by generating more qualified leads, amplifying the sales pipeline velocity, and improving sales and marketing alignment by taking advantage of the lead generation software.
All-in-all lead nurturing increases lead to opportunity conversion rate, drives more revenue, and shortens the sales cycle. It is about finding the right buyers at the right time. Lead generation delivers buyers into the sales funnel, but lead nurturing and scoring sends them to be making important sales so that a business’ team can close a deal at the right time.