What is Lead Generation?

In marketing sectors lead generation is the initial initiation of customer interest or enquiry into the products and services provided by a business or sole trader. A generated lead is in most cases the contact and demographic information of the interested party who has enquired about a particular product or service that is on offer.

In order to move through the sales and purchase funnel a generated lead is often paired with leads management in order for a smooth generated timeline to be established. This combination of marketing activities is often referred to as a sales and marketing pipeline.

Let us look now at lead management in more detail. Lead Management is a set of systems, methods and practices that are designed to generate new business leads for a business or sole trader. These are generally operated through a variety of markeing campaigns and programmes. What Lead Management does is to faciilitate a connection between the outgoing marketing strategy and the responses that these activities generate. Hence the term lead generation. These processes can lead to a business to business and business to customer transactions. Lead Management is the strategy that needs to be put in place before, sales management, customer relations management and customer experience management. The whole process has also been referred to as customer acquistion management.

Leads can come from a wide range of marketing sources such as internet marketing, email marketing, telemarketing, media advertising, event marketing and business networking. These marketing activities can become very time consuming and very expensive. It is usually only large businesses who can afford this and it leaves the sole trader lagging behind.

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