What is Lead Generation

What is Lead Generation

The process of finding potential customers interested in business products or services is called Lead Generation. Lead generation is done in almost all kinds of businesses to collect the customer’s data and keep it for further conversion. Leads may come from various sources or activities, for example, digitally via the Internet, through personal referrals, through telephone calls either by the company or telemarketers, through advertisements, and events.

Purpose of Lead generation

Leads are generated to increase sales which in turn increases profit. It is a very simple process as the more leads you can generate, the more beneficial it is for any kind of business. Even if a particular customer is not interested in your product or service, that lead can be kept for future use and companies still send further intimations to the same customer as you never know when a customer can be interested in your product.

Scope in the industry

As I said earlier, every kind of business needs leads and leads can turn to customers. Every business needs to generate leads, some of them generate themselves, others outsource the work of lead generation to a third-party source. There is a lot of scope of lead generation in the industry and it is a never-ending process.

Benefits of lead generation

It is a two-way system, every buyer needs a seller and every seller needs a buyer. A buyer comes to know about the number of sellers available for a particular product in the market and the seller comes to know about the potential customers in his product or service. This is why the conversion rate in internet marketing is so high as people who are interested contact the seller and the deal is done.

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