Acquiring new B2B customers is an exciting but challenging process. As you know, demand creation does not happen overnight. Businesses must pinpoint – and analyze – their target market to develop an effective marketing strategy. Next, they need to engage with prospects and attempt to convert as many as possible into sales. To increase your conversion rate, you must first understand the role of lead generation vs. lead nurturing purpose.
Lead Generation and Lead Nurturing Defined
Lead generation is the process of attracting and converting prospects who show an initial interest in what you have to offer. Meanwhile, lead nurturing consists of building relationships with potential clients. They might not be ready to buy your solution, but they could be in the future. This is sometimes called drip marketing.
Lead nurturing serves to increase a prospect’s knowledge and shape their perception of a specific solution. Simply put, lead nurturing serves to build trust between your company and the prospect. That way, prospects are more likely to choose your solution when it comes time to execute their decision.
Lead Generation vs. Lead Nurturing
We’ve set up a table outlining the difference between these B2B marketing strategies. First, we have lead generation, which serves to help your sales team find new prospects. This type of generic campaign is designed to help you identify initial interest in your product/service.
Meanwhile, lead nurturing has a different goal: to turn prospects into clients. With this type of marketing tactic, you’re in it for the long haul. You will build a relationship with your prospects throughout the buying cycle and create customized campaigns tailored to their needs.
To find new prospects
To convert a prospect into a client
Until you identify initial interest
Throughout the buying cycle
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In short, B2B lead generation and lead nurturing are two sides of the same coin. These aspects of B2B marketing complement each other.
When both methods are used in conjunction with the other, they will help you to generate more conversions.