What is the Difference between Lead Generation and Lead Management?:
Leads are people who express interest in your products or services and provide you with their contact information (such as name, email address, and phone number).
Generating leads is the first step in the marketing process, and lead management is the second step.
Lead generation is the process of attracting a potential customer's attention and convincing them to exchange their contact information.
This could be through SEO, social media marketing, content marketing, and any other paid and non-paid marketing campaigns.
Lead management is the process of analyzing and refining leads after they've been generated. It involves capturing, qualifying, and nurturing leads so they're ready to be passed on to sales teams.
Lead Generation Process:
Lead management is also the process of turning leads into customers by engaging them or nurturing them throughout the buying process.
This generally involves following up with leads, providing valuable content, inviting them to events and meetings, and clarifying their concerns (including via FAQs).
"Automation tools are generally used for quality lead management by many businesses"
Lead management also involves helping leads understand your company's products and services better than earlier and encouraging them to take action by requesting more information or setting up a product demo.
“Not investing in lead management can mean that you are not making the most of the contacts you captured. This means that you may be throwing away what you invested to attract people interested in your products or services” – HubSpot’s Lead Gen Report
Overall, lead generation and lead management are two separate but connected processes that aim at converting leads into customers (which means driving business revenue).
Here's related information that you may also find helpful – Google Ads Leads vs Website Traffic [See the Showdown]
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