Lead generation is “the process of gaining the interest of potential customers to increase future sales.” In contrast, lead nurturing is “the process of developing and reinforcing relationships with buyers at every stage of the sales funnel.”
Credico is a specialist in lead generation, lead nurturing, and sales conversions. And here, we will outline what is required in each crucial part of the pipeline. With Hubspot recently sharing that “65% of businesses say generating traffic and leads is their biggest marketing challenge,” Credico’s expertise is in high demand.
Leads are generated by acquiring potential prospects’ interest in a product or service. All businesses need to develop a lead generation pipeline, regardless of industry. Once prospects have been gathered, your sales team will nurture those leads and convert them into sales.
New leads are generated through an accumulation of touchpoints. These can include TV, radio, blogs, social media, billboards, retail, direct mail, and events. Attracting potential customers and showcasing offers is what lead generation is all about, and, in turn, gaining a prospective customer’s affection, trust, and contact details.
Once leads have been generated, these prospects have to be nurtured into a sales conversion. Did you know? 80% of new leads gathered during the lead generation stage never become sales, and this is why lead nurturing is vital.
Lead nurturing is the part of customer acquisition that builds strong relationships to turn these prospects into loyal, paying customers. Nurturing a consumer can be done in several ways: sharing personalized content (such as via email marketing), creating brand awareness, having your business be well known in retail atmospheres, and ensuring your team has a genuine relationship with your potential customers. Lead nurturing is the touchpoints you have after the initial lead generation that builds a relationship between the prospect and your brand.
It is reported that only 29% of brands nurture their existing customers beyond the initial purchase, so improving this part of the pipeline can potentially add more value to your business.
To have a successful sales strategy, your team must pay close attention to which leads are being converted into sales. Take note of which nurturing process(es) these customers have gone through and those who purchase again. This data will help you understand the most engaging processes for the leads and how to create the most loyal customer base.
Credico understands that both lead generation and lead nurturing are equally important, and they must work in perfect harmony to secure your firm a higher quantity and quality of sales. Therefore, neither is more important. Businesses must generate leads initially in order to nurture them into paying customers.
Do you need assistance with obtaining and sustaining leads? Credico is #1 in our field – get in touch.