Lead generation refers to the creation or generation of prospective consumer interest or inquiry into a business' products or services. Lead generation can be related to a unique component of any marketing activity that is targeted towards generating sales opportunities for a company's sales force. Sales lead is another part of lead generation, which refers to the identity of a person or entity potentially interested in purchasing a product or service
Business leads or sales leads come from either marketing lead generation processes such as trade shows, direct marketing, advertising, Internet marketing or from sales person prospecting activities such as cold calling. However, business leads differ from inquiries. In other words, any inquiry needs to qualify for some parameters or criteria to mature as a sales lead.
The lead generation process for sales lead or business lead is varied. For complex products and services requiring a complex decision process, the key to business leads generation is identifying the most likely prospects, followed by educating and qualifying them before deploying more expensive sales resources. Education is important in any business lead generation process as it benefits the buyer while qualification benefits the seller.
There are several methodologies of sales lead generation; however, every methodology revolves around the two primary strategies: a) broadcast and b) concentration.
Broadcasting refers to educating a broad set of target audience candidates. Advertising is a classic example of broadcasting.
Concentration, as opposed to broadcasting, involves identifying and creating situations that concentrate on a defined target audience in a more effective manner. Typical concentration marketing strategies include:
