A lead is a potential customer who expresses interest in a company’s products and services.
Detailed Explanation
Leads are a component of a broader marketing process where potential customers transition to paying consumers. They usually receive communication from a company after initiating the first contact. Leads submit personal information, such as an email address or a phone number, to receive an offer or a discount.
For example, suppose you participate in an online survey to learn more about pet grooming. A few days later, the company that conducted the survey sends you an email with tips on dog care and a 10% discount on your next purchase.
Lead generation is essential for many companies because a lack of leads results in reduced sales, translating to less or no profit. At its core, lead generation asks, “What are potential customers’ demands, and how can our company meet them?” And when executed correctly, lead conversion answers this question by turning interested people into paying customers.