In spite of being a part of the same customer journey, lead generation and lead nurturing are two totally different concepts. And play different roles in your business process.
These are the two aspects of your customer journey that will highly impact your acquisition and retention process.
So, before we get started with the difference between lead generation and lead nurturing, let’s look at the meaning of these terms.
- What is lead generation?
- What is lead nurturing?
- Lead generation & lead nurturing: What’s the connection?
What is lead generation?
Lead generation focuses on capturing new and potential customers. It basically means generating more leads by putting marketing efforts on various channels.
To start with, you can understand that there are many things about lead generation.
Attracting the leads to engaging with them it’s a long process. Therefore, a well-planned lead generation needs various automation tools for seamless execution.
Below are some crucial pointers and their little overview to perform lead generation in the best way.
1. Understand the process of lead generation
Lead generation is carried out by integrated marketing efforts that target improving engagement with the relevant audience. And bring them to your business development process.
These target audiences can comprise various buyers like influencers, decision-makers, new customers, existing customers, and so on. Each of them carries a different weightage in purchasing decisions.
2. Assign lead generation to the right team
Lead generation is usually carried out by a marketing team. This is majorly done by using inbound and outbound marketing. Both of these tactics have their own advantages and disadvantages.
Inbound marketing channels include activities like content marketing, social media, creating blogs, eBooks, and relevant videos.
On the other hand, outbound marketing includes activities like cold-calling, direct marketing (face-to-face), television, radio, and print advertising.
3. Find the best lead generation software
Before we move further, let me give you a short overview of the best lead generation software –
Salesmate is a unified customer platform to engage prospects, boost sales, and personalize experiences for each customer. It’s one of the most preferred lead generation software, packed with powerful features to help you capture more leads.
It offers some of the best Marketing Automations and Customization features to help you effectively carry out your lead generation process.
Marketing automation plays a key factor in the lead generation process, as 80% of marketers believe that marketing automation helps generate more leads.
Here are Salesmate’s key features for improving lead generation –
- Email Marketing
- Text Marketing
- Web Forms
- Website Tracking
- Voicemail Drop
- Power Dialer and many more.
Want to try out how Salesmate can help you scale your lead generation process? Opt for the 15-day free trial!
What is lead nurturing?
Lead nurturing is mainly implemented to improve your relationship with potential leads. Here, you focus more on progressive communication in order to turn your leads into loyal and paying customers.
Lead nurturing, just like lead generation, has certain similar aspects. Talking about lead nurturing, you need to ensure that you’re using appropriate tools to serve your leads efficiently.
Let’s learn some important aspects of lead nurturing:
1. Understand the process of lead nurturing
Lead nurturing activity largely depends upon where the lead stands in the buyer journey.
If he/she is in the awareness phase, then you need to share a relevant email with relevant next-step blogs and articles. This will help strengthen the relationship between you and your buyer.
If the buyer is in the consideration stage, he/she is evaluating solutions for their problems.
For example, if they need Marketing Automation and your business provides this solution, then you need to communicate the same. And show key considerations and capabilities of your solution.
Then comes the decision stage, where the buyer will evaluate and select one of the options available to him/her.
2. Assign lead nurturing to the right team
Lead nurturing comprises well-timed digital outreach and email marketing. This is usually carried out by the marketing team.
Hence, leads should receive the organization’s newsletter and display ads promoting your offerings as they surf the internet.
3. Nurture leads at every stage
Irrespective of where your prospect stands on the customer journey, you need to stay consistent and nurture your leads at every step.
That means that from the awareness to purchase, in fact post-purchase, you need to keep nurturing them.
In fact, nurtured leads make 47% larger purchases than leads that aren’t nurtured properly.
4. Pick the right lead nurturing software for your business
There are various tools available for nurturing leads. Here’s a list of the best lead nurturing software in 2022.
- Pipeline CRM
We’ve created a detailed blog describing each of the above-mentioned tools. Click here to read and choose the one for your business.
Have higher acquisition and retention rates!
Try Salesmate, the best lead nurturing software.Start your free trial
Lead generation & lead nurturing: What’s the connection?
Well, Lead generation and lead nurturing, as mentioned above, are two different parts of the same buyer journey.
Lead generation aims at hunting and filling the bucket with new customers to generate leads. Also, can be considered a marketing qualified lead.
Whereas lead nurturing strategy aims at building and maintaining relationships with customers at every stage of the customer journey.
Therefore, lead generation and lead nurturing programs can be seen as subsequent stages of the customer journey.
Where lead generation is done in the initial stage using multiple marketing channels.
And, then these leads are nurtured through healthy communication to eventually turn them into your paying customers.
In this process of generating and nurturing qualified leads, there are various components involved like strategizing the stages, lead generation and nurturing software, and multiple marketing channels mentioned above.
Hence, to conclude, you observe that the terms function differently but are interrelated. Lead nurturing takes place post-lead generation.
Both are important aspects of the customer’s journey and can never be skipped.
After studying the difference between lead generation vs lead nurturing, here’s a table to help you learn the key differences between the two.
|Functions||Lead generation||Lead nurturing|
|Customer journey stage||It is the initial stage in a customer journey. And focuses majorly on producing a new customer base for your business. It usually uses marketing efforts to generate new leads.||It is one of the stages following the lead generation stage in the customer journey. It focuses majorly on building a trustworthy relationship with leads in order to turn them into your paying customers.|
|Importance||Lead generation increases your customer base and helps you get customers from various marketing channels. It is important as it creates excitement about certain products or services in order to attract potential customers.||Lead nurturing, on the other hand, focuses on nurturing these leads. This means it focuses on the understanding that each lead is different and needs to be treated differently in order to turn them into paying customers.|
|The best approach for execution||In order to generate more leads, you need to focus on two major things- Lead quality and lead quantity.||The two best approaches to nurturing leads are- sending emails with free value and sales pitches.|
|Tactics||Some of the most effective lead generation tactics are- practicing SEO, content marketing, social media marketing, social media advertising, and email marketing.||The most efficient tactics to nurture your leads are- social media outreach, personalized communication, education, content creation, and multi-channel marketing.|
|Goals||Lead generation aims at producing more and more marketing qualified leads.||Lead nurturing, on the other hand, focuses on developing customer relationships with your leads and taking them to the next stage of the sales funnel.|
The above table successfully gives some detailed insights on key differences between lead generation and lead nurturing.
Lead generation and lead nurturing are both equally important for a successful sales funnel.
When executed wisely, they increase your customer base, eventually increasing your revenue.
Frequently Asked Questions
This section will help you learn about lead nurturing and its related terms.
1. Lead nurturing vs. Lead scoring: What’s the difference?
Lead nurturing is building customer relationships. On the other hand, lead scoring is numbering or prioritizing your leads based on their responsiveness or requirement.
2. Triggered emails vs. Lead nurturing: What’s the difference?
Triggered emails are basically designed to be sent to a visitor as soon as he/she visits or takes any action on your digital property.
Lead nurturing, on the other hand, aims at delighting the customer by understanding their needs and selling appropriate solutions.
3. Drip marketing vs lead nurturing: What’s the difference?
Drip marketing aims to educate the customers down towards the sales funnel. Lead nurturing, on the other hand, aims at building relationships with customers to offer sales proposals.
4. Lead nurturing vs marketing automation: What’s the difference?
Lead nurturing uses marketing automation to serve customers efficiently. Whereas marketing automation can be used for many other marketing activities.
5. What is active nurturing vs passive lead nurturing?
Active lead nurturing is basically dealing with leads that look forward to making a purchase in the immediate future.
Passive lead nurturing is persuading the prospects and slowly nurturing them.
So, what’s the difference? Lead generation is the process of finding potential customers and enticing them to learn more about your product or service. Once they’re interested, you move them down the funnel with lead nurturing until they’re ready to buy. It sounds like a lot of work, but it can be worth it when done correctly.