Lead generation, by definition, is the generation of consumer attention or inquiry into products and services of a business. A lead is differentiated from a visitor or a prospect primarily in its intent, as it is more ‘qualified,’ thus, has higher chances of conversion. In our discussion on the REAN Marketing Funnel, we touched upon the development of a lead in the ‘Engage’ stage beyond which it has to be activated through what we know as ‘conversion marketing.’
Conversion, according to a specialized digital marketing research firm, Marketing Sherpa, refers to “The point at which a recipient of a marketing message performs a desired action.” Conversion marketing, thus, is the set of marketing activities undertaken by a firm/brand to encourage the consumer undertake specific actions that the firm wants them to take. These actions could be across any of the stages of the marketing funnel. Getting a potential consumer fill up a registration form on a website is a conversion. Having the same customer download a whitepaper is another form of conversion. Finally, buying the product on the firm’s site is the most desirable of all forms of conversions.
In this chapter, we would understand how firms can set up conversion marketing activities for the set of leads they have with them at any moment in time. But first, let us look at the process of lead generation following which we will cover the ways conversion marketing is deployed to convert qualified leads to real customers, who finally make a purchase
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