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In marketing, lead generation ( /ˈliːd/) is the process of creating consumer interest or inquiry into the products or services of a business. A lead is the contact information and, in some cases, demographic information of a customer who is interested in a specific product or service.
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.
Lead generation is often paired with lead management to move leads through the purchase funnel. This combination of activities is referred to as pipeline marketing, which is often broken into a marketing and a sales pipeline.
Lead scoring is "an effective model that helps sales and marketing departments identify which prospects are potentially most valuable to the company and its current sales funnel." [4] It involves a quantitative method of assigning a numerical “score” to a lead. This helps the company determine whether a contact is valid for their pipeline and allows them to prioritize leads and allocate resources accordingly. [5]
The introduction of marketing automation in recent years has made lead scoring much easier to implement. [6] Many modern customer relationship management ( CRM) tools (e.g., Hubspot, ActiveCampaign) now include software to automate this process. [7]
The score assigned to each lead is assigned based on their level of interest, fit with the company's target market, and likelihood of becoming a paying customer. It is not static and can change based on the demographic or behavioral criteria set by the company. [8] [9]
Once the lead reaches a pre-defined score threshold, it is then sent from marketing to the sales team for examination.
In February 2024, the Consumer Financial Protection Bureau (CFPB) issued guidance targeting the manipulation of comparison-shopping tools for financial products due to kickbacks. This manipulation impacts lead generation, steering consumers towards certain products not because of their merits but due to hidden financial incentives. The guidance highlights how such practices may breach federal consumer protection laws, emphasizing the need for unbiased, transparent comparison tools in the financial sector and offering the concept of a federal comparison shopping site as an alternative. [11]
This article has multiple issues. Please help
improve it or discuss these issues on the
talk page. (
Learn how and when to remove these template messages)
|
Marketing operations |
---|
In marketing, lead generation ( /ˈliːd/) is the process of creating consumer interest or inquiry into the products or services of a business. A lead is the contact information and, in some cases, demographic information of a customer who is interested in a specific product or service.
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.
Lead generation is often paired with lead management to move leads through the purchase funnel. This combination of activities is referred to as pipeline marketing, which is often broken into a marketing and a sales pipeline.
Lead scoring is "an effective model that helps sales and marketing departments identify which prospects are potentially most valuable to the company and its current sales funnel." [4] It involves a quantitative method of assigning a numerical “score” to a lead. This helps the company determine whether a contact is valid for their pipeline and allows them to prioritize leads and allocate resources accordingly. [5]
The introduction of marketing automation in recent years has made lead scoring much easier to implement. [6] Many modern customer relationship management ( CRM) tools (e.g., Hubspot, ActiveCampaign) now include software to automate this process. [7]
The score assigned to each lead is assigned based on their level of interest, fit with the company's target market, and likelihood of becoming a paying customer. It is not static and can change based on the demographic or behavioral criteria set by the company. [8] [9]
Once the lead reaches a pre-defined score threshold, it is then sent from marketing to the sales team for examination.
In February 2024, the Consumer Financial Protection Bureau (CFPB) issued guidance targeting the manipulation of comparison-shopping tools for financial products due to kickbacks. This manipulation impacts lead generation, steering consumers towards certain products not because of their merits but due to hidden financial incentives. The guidance highlights how such practices may breach federal consumer protection laws, emphasizing the need for unbiased, transparent comparison tools in the financial sector and offering the concept of a federal comparison shopping site as an alternative. [11]