Lead-gen or lead generation is a term for generating or creating interests of prospective customers for a service or product offered by a seller.
Most companies use lead generation service, and 5 following reasons will tell you why your business too needs it, and can benefit you in five odd ways.
1. Lead Generation Brings Possible Customers
A starting point of any business is not only to define their target audience but also to connect with them in real-life.
Lead generation methods are implemented in a way to find leads whom you can contact with be it by their email address, phone number, physical address etc. Thus, lead-gen is the starting point of contact.
By reaching out to people or entities, you grow your company’s network. In doing so, you encourage audience to engage in your products and services, develop their interest and curiosity, and then convert them into customers by satisfying their needs.
Here are some best ways of lead generation
2. Channelizes Sales Team to Concise Targets
Now that your business has a mass database of people, you can prioritize whom to contact the first and later. Who needs special attention and greater encouragement? Who are the potential prospects?
You can narrow down on leads, if you generate some, and then you will be able to list out which leads are to be handled by whom, and how to optimize or convert them into customers.
3. Increase Sales
The key to profits of monetary kinds is through increasing sales. Your customer database needs to be ever expanding to cultivate new leads and sales.
Even to jumpstart that initial sales, you need customers, which come from different lead generation tools and methods, both online and offline.
Be it a new or an existing product, lead generation helps immensely in keeping the sales funnel active.
4. Cultivates Relationships
Some of the lead-gen services and tools not only generate more leads, but also cultivate relationships, such as via email marketing, SMS, telephonic calls, which makes for direct communication with customers and target audience.
“40% of B2B marketers rated the leads generated by email marketing as high quality.”(salesforce.com)
“44% of email recipients made at least one purchase last year based on a promotional email.” (salesforce.com)
“Email marketing spend grows 10% year over year. ”(salesforce.com)
These help in understanding customer behavior and in turn use their feedback in bettering the offering.
5. Saves Your Customer Network From Going Dry
Your business might have been a big success with many loyal customers. Thus, you may think- why do I need lead generation anymore?
However, alike you, your competitors are looking out for opportunities to steal your customers, and you can never risk trusting only specific customers for future gains.
Given endless amount of choices, the customers have these days; their loyalties may shift, and change all together. Thus, you can never stop the lead generation process completely if you want your business to survive and grow in the market.