lead generation
{{Short description|Initiation of consumer interest into products}}
{{For|the use of lead generation in drug discovery|Hit to lead}}
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{{Marketing operations|expanded=no}}
In marketing, lead generation ({{IPAc-en|ˈ|l|iː|d}}) 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
Lead scoring 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. The introduction of marketing automation has made lead scoring easier to implement.{{Cite journal |last=Hakulinen |first=Usa |date=2021 |title=THE IMPACT OF PROSPECT ACQUISITION SOURCES FOR BUSINESS-TO-BUSINESS EMAIL LEAD NURTURING MARKETING PERFORMANCE |url=http://urn.fi/urn:nbn:fi:uef-20211627 |journal=University of Eastern Finland}}
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.{{cn|date=August 2024}}
Regulation
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.{{cite web |title=CFPB Issues Guidance to Rein in Rigged Comparison-Shopping Results for Credit Cards and Other Financial Products |url=https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-guidance-to-rein-in-rigged-comparison-shopping-results-for-credit-cards-and-other-financial-products/ |website=Consumer Financial Protection Bureau |access-date=1 March 2024 |language=en |date=29 February 2024}}
<!-- This section is ONLY for wikilinks to existing articles. DO NOT enter external links here -->See also
- {{annotated link|Direct marketing}}
- {{annotated link|Direct selling}}
- {{annotated link|Lead management}}
- {{annotated link|Personal selling}}
- {{annotated link|Sales}}
- {{annotated link|Customer experience}}
- {{annotated link|Interruption marketing|Outbound marketing}}
- {{annotated link|B2B marketing}}
References
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Further reading
- Lead Generation for the Complex Sale by Brian J. Carroll ({{ISBN|0-07-145897-2}})
- Marketing Management by Philip Kotler ({{ISBN|0-13-033629-7}})
- Marketing for Dummies ({{ISBN|978-1118880807}})