Generating Customer Demand and Nurturing Leads & Prospects
Generating Customer Demand and Nurturing Leads & Prospects
8 A Lead Generation Framework
Learning Objectives
By the end of this chapter, you should be able to:
- Explain various types of leads and lead generation
- Describe the key elements of a 5-Step Lead Generation Framework
- Provide examples of how to apply a lead generation strategy
Now, that you understand a variety of digital marketing fundamentals, let’s build on these concepts to generate customer interest, build strong relationships with prospective customers, and ultimately, drive conversions. In this chapter, we will introduce you to a lead generation framework that will outline how to:
- Conduct digital marketing outreach to attract potential customers
- Engage and connect with target audiences
- Nurture and convert prospective customers
What is a Lead?
To kick it off, let’s begin by reviewing some fundamental concepts. A lead is any person who has shown some level of interest in an organization’s product or service. Leads are usually triggered by a communication or marketing activity initiated by the organization. For example, if you have an email newsletter sign up form on your website, after submitting their contact information, a new subscriber would be considered a lead. Once an organization has this contact information, it can continue to communicate and send marketing messages to that lead and hopefully interest them enough to, ultimately, convert and buy.
There are a variety of ways to categorize leads:
- Information Qualified Lead (IQL)
Information qualified leads are contacts who randomly connect with the organization while searching for information. These contacts often share their contact details to get more information, e.g., to download a piece of content. After that, marketing teams can connect with them to share more relevant information to help close the deal. - Marketing Qualified Lead (MQL)
Marketing qualified leads are contacts who have responded to marketing activities but have not explicitly expressed an interest in receiving a sales call. An example of an MQL is a someone who fills out a form on a landing page for a specific promotion or special offer. - Sales Qualified Lead (SQL)
Sales qualified leads are contacts who have taken actions that explicitly indicate their interest in becoming a paying customer. An example of an SQL is a contact who fills out a form to book a demo or to get more information about your product or service. - Product Qualified Lead (PQL)
Product qualified leads are contacts who have used your product and are interested in becoming a paying customer. A common example of PQLs is when organizations offer a free or limited trial of their product or service with the ability to upgrade to a paid premium version. In some cases, this upgrade might involve a sales team. But it could also apply when a trial customer simply asks about paid-only features. - Service Qualified Lead
Sometimes an upgrade might happen as part of conversation with a cu