How to Know the Difference Between Lead Generation and Lead Nurturing

Even if you have great products and services, you won’t be able to sell them with mediocre marketing efforts. To get a bigger base of customers, lead generation is what you need.

But even if you have attracted people to your sales pipeline, your story should not end there. For your marketing strategy to succeed, your brand has to nurture its potential customers.

In essence, if you want your new customers to finally make a purchase, you have to generate and nurture leads.

Should you find this quite confusing, worry not, as you’ll learn more about the difference between lead generation and lead nurturing and how they may benefit your business in this article.

What is Lead Generation?

Lead generation is the process of attracting new potential customers and getting they inside your sales funnel.

To do that, you often have to use lead magnets, such as email newsletters, landing pages, free trials, and podcasts, to name a few.

As generating qualified leads is a long-term process, it should go beyond selling a product or service. In other words, your business should be centered on making conversations as these pave the way for effective sales and marketing.

Generating leads can be done in two ways:

       Inbound lead generation, where the prospects visit your website or social media page. Since they are responsible for what they want to do next, it’s all about providing information to help these new leads.

       Outbound lead generation, which is the process of actively finding and reaching out to customers. Compared to inbound lead generation, this is all about selling your products and services.

What is Lead Nurturing?

Lead nurturing is the process of continuing the strategies you have set forth for your prospects. It’s all about building relationships and escorting them through the buying process up until they are ready to make the purchase.

Time is a key element when it comes to lead generation vs. lead nurturing. You will need about eight touchpoints before you can convert these leads into paying customers. As such, expect to send 12 email marketing pieces throughout the course.

In essence, nurturing leads is all about focusing on the customer. You have to think like them to answer these important questions:

       What does the potential customer want or like?

       What are your prospects’ hopes and dreams? What keeps them up at night?

       What are the pain points you wish to address in your marketing efforts?

That said, the best way for a business to nurture its leads is to ensure constant communication and engagement. A company needs to listen to its potential buyers as this will pave the way for more effective marketing strategies.

Lead Generation vs. Lead Nurturing: Which is Better?

No one activity is better. That’s because lead generation and lead nurturing work together. Both are vital if you want to generate leads who will eventually buy something from you.

Simply put, lead generation allows you to get on the radar of your target customers. On the other hand, lead nurturing involves keeping them engaged.

Remember that the focus of each company should be to help its prospects by providing essential information. From here, you can work on your inbound marketing strategies.

For example, if you want to focus on email marketing, you should experiment with different templates to see which attracts more consumers. If it’s content marketing, your brand should use a formula that appeals to your target market.

While these strategies’ end goal is to obtain contact information and generate sales, it’s essential to work on the next step of your marketing. Focusing on the endgame will help you foster meaningful relationships and improve your marketing strategies. It can also help you analyze your business processes to see what works and what doesn’t.

How Your Business Can Boost Lead Generation and Lead Nurturing Tactics

To render these processes more effective, you should brainstorm with your company. Doing so will help you determine what to do.

More importantly, this will help you extract vital information about:

       The current lead magnets or business referrals

       The gaps you have to fill

       The business assets or services that boost lead generation

       The possibility of launching a LinkedIn Account

       The necessity of investing in website SEO, blogs, and other marketing materials

Once you have generated leads through the methods mentioned above, you have to decide what the brand should do next to nurture these leads.

Common techniques include:

       Quick discovery calls

       Email lead nurturing sequence

       Manual and automatic email lists

       Promotions and special offers

To sum it up, lead generation is about attracting clients, while lead nurturing is about taking care of them until they buy something from your website.

While they differ significantly, they need to work together if you want your company to succeed.