Economics

Lead Generation – Differences, Trends, Challenges, and More

Lead Generation – Lead generation includes any activity that constitutes a sales opportunity for a customer in both the short and long term. It can be described from both inbound and outbound perspectives, in the beginning. Middle or end of the business process in the same way that it can be seen at the top, mid or bottom of the funnel.

Difference Between Demand Generation and Lead Generation

On many occasions, demand generation is confused with lead generation, and they are different terms, particularly in their scope. Demand generation or demand gen covers all marketing activities that can create awareness about a sure offering. Company or industry and includes a mix of inbound and outbound marketing.

However, when we refer to lead generation, we are talking about a subset or a particular area of ​​demand generation. Demand Gen is a marketing operation used to create a demand for or interest in a product. However, lead generation collects specific information about potential customers, converting them into leads for the commercial process.

If we take an example, an ABM project, it is a more or less massive demand generation activity. Depending on the type of ABM that we are going to carry out. But, on the other hand, the generation of leads in a specific ABM project consists precisely of converting visits or contacts to authorities and then to prospects, which may well be through a conversion form. A click2call, a call me back, a subscription to a newsletter, a download of a paper or similar. In all of them. We can obtain information about that lead and, from there. Focus on the next stage of the process that is very conversion-oriented.

Trends in Lead Generation

Since the 1990s and before, B2B professionals used to rely heavily on outbound activities -particularly telemarketing- for lead generation. These leads could be internal or external based on third-party information with a sales-oriented approach. For example, the Sales Rep contacted a list of potential customer names, and the value proposition explains to them through a script. Until not long ago, specifically, until the definitive application of the GDPR policies, this type of activity has been used massively, invasively and even perniciously for the reputation of the marketing profession and B2B activity – not to mention the B2C world.

Lead Generation

Today, fortunately, things have changed, and companies have improved their business processes and have chosen, forced, not to abuse the trust of their potential customers motivated by GDPR restrictions. But even with that, there are still certain malpractices in the market. These not so desired values reduce behaviours in which digital processes generate leads, connecting both offline and online spheres and incorporating new automation platforms that track lead activity better.

Changes have influenced a lead generation in the behaviours of many new buyer journeys with changes in the way customers access and consume information. Due to this, not only has there been a drastic increase in the information available, but the lead is more demanding in the data it consumes and is more prepared so that this digital consumption needs to meet its expectations.

To be successful in lead generation, B2B marketers need to take all of these changes into account and capitalize on the way vehicles and content of different formats can distribute digitally both in the awareness journey and the decision journey. For example, it has caused that several years ago. It is rarely reported that social networks could be generators of leads. Today, LinkedIn, Facebook, Instagram, etc., have drastically matured and have become very effective channels for generating leads. Because of their treatment, nurturing, and critical moments within the decision journey. They are, therefore, very effective tools in identification, first, and in capture and enrichment, later.

Challenges that Impact Lead Generation

Lead generation activity increasingly requires more precision and sharpness from marketers, especially in B2B. The excess of information, the massive blocking of spam, the restrictions of GDPR, the need to create valuable content that interests the potential buyer all of this configures some critical challenges in generating leads.

Get good quality leads.

When the quality of the lead does not meet the sales requirements, and we have to discard the leaders, even before they process, it can lead to poor follow-up processes and sales support, lack of productivity of the sales teams or even the need for the sales team to intervene in the generation and nurturing of leads.

Loading and treatment time.

It is the time that elapses between the moment the lead has captured and the time of loading and preparing that lead for the sales team to follow up. When this delay between one stage and another becomes unacceptably late, the chances of availability of that lead are minimal. At Sum and Insurance, we are very clear about this concept and, for this reason, we strive to ensure that leads, in projects such as those of tuseguromóvil.com, treat in no more than two seconds after the lead has interacted with some formulation, with some contact channel or even with the chatbot.

Late sales follow-up.

When the lead uploads are on time and are available for processing. But the sales team delays dealing with it within what would be reasonable. We would have a problem similar to the one described above. In this case, the lead will become colder and colder until it cannot use for the commercial process.

Lack of enrichment process.

Therefore when there is no specific process to achieve the commitment and link of the lead (known as engaging) when it is not qualified. when a score did not apply for its prioritized treatment. When it has not been followed up. And more when it is not fed with more content. When that necessary conversation does not generate, in short. When it enrich, that lead will not advance with its full potential throughout the funnel. It will not become a good prospect with the possibility of converting to a final customer.

I have misaligned sales expectations.

Suppose the sales team’s expectations concerning the leads have not established correctly, in volume, lead quality, qualification process, genuine interest, etc. In that case, we will have a potential misalignment process between marketing and sales. Both in the execution of lead generation and the detection of business opportunities. Furthermore, it will undoubtedly lead to a lack of trust. Friction between departments and one of the great fears of any B2B marketing and sales professional. The struggles between the two departments.

Available resources.

Suppose marketing fails to align with the expectations and needs of sales, and the sales team’s resources are not adequate. In that case, we will be facing an operational severe execution problem in the treatment of leads. That can happen either when teams haven’t designed the reach, speed, or volume right or when there isn’t enough flexibility to accommodate marketing lead generation. Unfortunately,  many leads will loss in these cases because we will not stay able to deal with them.

Conclusion

In marketing, lead generation is the beginning of consumer interest or query into products or services of a business. A lead is the contact data and, in some cases. Demographic information of a customer interested in an exact product or service.

Also Read: The Main Types of Traders in Forex – Overview Report

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