Sales Perspective: What is Lead Generation?
Updated: Jun 22
Written by: JOSEPH FLATEN
Lead Generation is a term that can mean many things to many people depending on the role and industry they are working in. In the simplest terms, Lead Generation is creating an interested prospect who is qualified (hopefully!) to buy your product or service. Lead Generation may come from the efforts of a variety of business functions including advertising, digital marketing, sales, and/or PR.
When searching the web, Lead Generation is a term that is frequently used in the context of “digital marketing”. That is rarely found in terms of the outbound function. Our company, Konsyg has found that there’s a real disconnect between the term “Lead Generation” and what we actually do, as a sales organization.
Lead Generation can be grouped into
Inbound (Marketing) andOutbound (Sales) efforts:
Inbound Leads come from a variety of sources including:
Word of Mouth
These leads are inherently easier to close and require less effort on the part of the salesperson. The prospect is usually aware of the companies and is “interested” in what is being sold. However, the leads that come from these sources may have some drawbacks as well namely:
Are these prospects qualified?
Do they have a budget for your products or services?
Is this a serious buyer or just someone who is interested in “learning more”?
Are these prospects in line with the strategic goals of your company?
Outbound Leads from sales activities, on the other hand, is a function of the strategic vision of your company. It relies on the direction of leaders who have analysed your strengths, the market, case studies, and your unique selling points to see where the fits might be and what makes financial sense for the company to pursue.
Outbound Lead Generation arises from these types of efforts:
In-person meetings at conferences, events, etc.
Social (LinkedIn, Twitter, etc)
With outbound sales, your company has the chance to “aim for the stars” and go after the titans and multinationals who may be immune to your digital marketing efforts. These are the clients who may deliver you the million-dollar deals that will sustain your company for years to come while growing these into Key Accounts with lasting relationships.
However, outbound sales and lead generation are not for the faint of heart. Being able to craft and deliver a compelling message that creates “interest” in the eyes of a prospect and bringing them down the pipeline to close is a challenge that no leaders should underestimate.
Given today’s market realities, outbound sale’s challenges have only multiplied. That’s why having a systemized approach with strong leadership and knowhow is so important. Sales is sometimes called a numbers game and this is true to an extent. However, the odds of winning can be whittled down by expertise, passion, and the drive to succeed. You can also consider checking if a Good Salespeople Can Ever Be Automated?