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Lead Generation and it’s importance in your business growth

Updated: Jan 3, 2023

Whatever is the size and nature of your business, lead generation is one of the important tools that is commonly used by management and marketing teams. If you are new to the concept or just new to business in general, you may have some questions about lead generation.

In the following post, we hope to answer some of those questions, including what lead generation is and how it can help to grow your business.

What is Lead Generation?

Lead generation is the process involved in creating interest for potential customers by supplying them with relevant and enticing information about your services and/or products. The aim is simple – develop enough interest so that they want to contact you or even buy your products or book your services.

Now that you know what lead generation is, the next step is to understand the right set of tools to use that will help you reach your prospects easily. Lead generation tools are classified into the following categories:

  • Lead data collection

  • Email lookup

  • Email follow-up

  • Form & email collection

  • Email marketing

  • Landing page creation & capture

  • Complete marketing automation

  • Process automation

  • Live chat

  • Social media & forum

  • Contests

  • Customer research/survey

  • Calendar scheduling

By making use of these tools, you not only capture but also convert more leads.

Generates Traffic

One of the most crucial ways that lead generation helps your business growth is by generating inbound inquires or traffic if you have a web presence. These inbound inquiries or website visitors are your potential customers or prospects. When your lead generation efforts are effective, these prospects will convert to become your customers.

Google over the years has made it very easy for businesses and people to connect, which makes it easier than it ever has been to inform the world of your services and products and how they different/are better than your competitor’s.

More Focused Targeting of Customers

When executed correctly, lead generation can target the customers that are actively looking for products or services like yours. One of the strategies is to create content that is engaging and informative enough so that the prospects are lead directly to your website.

Source: leadsquared

You can use a lead generation funnel to systematically generate the leads (i.e., potential customers). It is the process of funnelling your target audience through different stages until they decide to make a purchase.

Helps Your Sales and Marketing Teams to Develop Productive Relationships

Two teams in your business, if they are separate, that need to work cohesively as a team are the marketing and sales departments. The incentive of having an efficient lead generation campaign is often the reason for your sales and marketing teams to be aligned. Sales teams will have the opportunity to engage with a healthy pipeline because of a well-executed lead generation campaign from the marketing team.

Helps to Generate Greater Brand Awareness

If you want to know how well known your brand is within your given market or niche, brand awareness is the best way to find out. The basic rule of thumb is that the more people know about your brand, the stronger your reputation is and the higher your potential profits are likely to be.

Lead generation can help increase your brand awareness as it educates the people that make up your target audience about your products or services and their features, creating that all-important “word of mouth”. A vital part of the lead generation process is lead nurturing that involves starting to build relationships with your prospects whatever part of their buyer’s journey and how far along the funnel they are. It all comes back to content. This is so powerful as it is a chance for you to build credibility and trust that comes from you being an expert in your field.

If you are interested in generating sales leads for your business, contact us today to find out how we can help you.

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