Every company, big or small, invests thousands and millions of dollars in generating leads. But have you ever wondered why?
Let’s take you through a comprehensive guide on the advantages of lead generation and how your company can optimize the process to generate higher quality and volume of leads.
What is a Lead?
Have you ever called a customer care executive to inquire about a product or a service? Or have you submitted your details to sign up for a newsletter or a new feature? If yes, you are a leader, too.
A lead is an individual who willingly shows interest in the product or service of a business by initiating contact via contact forms, sign-ups, inquiry calls, etc. Once the initial contact is made by the lead, the sales representative gets in touch with them to educate them about the company and its offerings with the aim of successfully converting them into happy customers.
A lead, therefore, is the starting point of selling your product or service, hence generating greater revenue. The better quality of lead you generate, the greater value of sales you close.
Lead generation is the process of churning out a greater number of leads to keep the sales funnel filled. It aims at connecting with the prospects, qualifying them as leads, and closing the sale. The objective of this process is to generate a high-quality and larger number of leads, ultimately increasing the company’s revenue.
Why do You Need Lead Generation?
Your company might be investing in lead generation efforts already. But do you know what benefits will it garner for your brand? Let’s take a look:
Boost Your Market Presence
Brand awareness is one of the primary factors that will determine the success of your business. The ultimate goal is to make your brand a household name.
While working on lead generation, you’d most likely be leveraging the internet’s potential to grow your brand. You could use social media, microblogging websites, social bookmarking, and more. These help your brand grow its digital footprint and improve your brand’s authority in the industry.
This helps in making your brand more discoverable to a global audience and improves its reputation. When these people know your brand and its offerings, they turn into prime prospects who can turn into qualified leads and paying customers more naturally.
Improved Sales and Profit Margin
As we already discussed in the previous point, people who know about your brand and offerings convert into leads and then to customers more ‘naturally’. This means that the sales team has to spend less time, effort, and money on converting these prospects into leads.
If more prospects know about your brand and allow seamless conversions, the overall resources invested in the process reduces drastically while increasing the number of closed sales. It also leaves substantial room for engaging with a greater number of prospects, generating more leads.
This is a chronological cycle, with each minute saved on one prospect, the remaining time can be spent on another, creating an optimum ecosystem for much larger closings as well as overall profit for the company.
Refer:- Lead Generation
