Looking at the growth rate of the SaaS industry, you’d think that people are more than willing to spend money on software solutions that promise to make their everyday lives (and professional endeavors) easier. Not quite, though. Despite projections forecasting the total SaaS spend to reach $171.9 billion in 2022, most buyers still prefer free solutions. […]
What is Lead Generation?
Lead generation refers to the process of generating interest among consumers for a product or service with the end goal of turning that interest into a sale. In the world of online marketing, lead generation often involves collecting a site visitor’s contact information (the definition of a “lead”), usually through a web form or survey.
In the marketing funnel, lead generation is an imperative step for many businesses. In these cases, products and/or services can cost thousands of dollars and normal site visitors are less likely to purchase a product directly from the business website.
Collecting leads, then, allows the businesses to gather information to prospective customers while also nurturing them through e-mail marketing and other means before reaching out to them directly to make a sale. In other words, lead generation takes a beat to look at the whole customer – as a person and not just a potential patron.
This means building and nurturing a genuine relationship with them in hopes of a long-term connection between seller and buyer.
Lead generation (sometimes referred to as lead nurturing) is also an important step for online marketing because it utilizes the most effective online marketing channels (e-mail marketing, social media, etc) to gather information and insight on prospective customers. This way, though a sale may not be guaranteed immediately, there’s a much better chance of a purchase being made in the future.