Lead Generation and What It Means in 2020

By Jenny Hawkins

Lead generation in its core definition has not changed much over the years, if at all. Reinforced and reinvented by technology, how a lead generation company works and which methods they use to get the job done have changed drastically. The following should provide a decent idea of what lead generation is in general, how it can be useful and why the impact of lockdown has had a debilitating impact on previously designed lead management strategies.

What Exactly is Lead Generation?

A lead is the business term that designates a potential customer. The potential customer could be an individual, a group, or a business, who has either already shown interest in the product/service category that the company does business in or has reason to be interested in it. Lead generation, on the other hand, is the act of creating lists of the aforementioned potential customers, aka leads, and then working towards converting them into paying customers.

What are the Various Lead Generation Strategies?

A lead generation strategy can vary widely from industry to industry, or even from company to company, even if they are all working within the same industry. Multiple factors such as the segment that they are working in, the type of leads that they need to generate and how they go about it are just some of the numerous other factors that contribute towards creating a successful and up to date lead generation, management and conversion strategy. Despite these factors, there are two primary areas in which lead generation strategies can be divided:

1. Inbound – The lead generation company takes a passive but more effective approach where the customer is led to the business, rather than it being the other way around
2. Outbound – From random emails to making unscheduled sales calls, it’s a more primitive and gradually declining strategy for lead generation, where the business goes to the customer

Lead Generation Strategies in 2020: Adaptability is the Keyword

If we take the unexpected surge in the UK real estate market, for example, it provides the perfect context for explaining how and why the tools of an adaptable lead generation and management plan work so well. Although the fact that real estate is doing so well in the middle of a recession is wonderful for businesses associated with the industry, unless the real estate company in question has a thorough plan for making what they can of this surge, it will vanish without letting them have a piece of the proverbial pie. Additionally, if your lead identification and lead conversion plans are to remain valid past the boom we are seeing in real estate right now, then you need a strategy that’s dynamic enough to adapt to the changing times.

NXT Generation provides a specialised, property leads management service that’s not just centred on the present boom, but also takes into account the long-term property market predictions. Some of the tools they implement for getting those high-quality investor leads range from TV ads, event planning, and PR management to the simultaneous use of the digital platform for web designing, business app development and even virtual reality. The idea is to cater to a client with constantly updated, adapted and comprehensive property lead generation management.

If we were to take 2020 into our consideration specifically, it becomes evident that an older strategy that was devised before the pandemic broke out and the lockdowns were implemented all around the UK, no longer holds any validity in today’s market. As previously mentioned, property leads management has to be modified in order to meet the present summer boom in real estate, the likes of which have not been seen for more than a decade

On the other hand, arts and entertainment are not showing any significant growth to make up for the billions they lost during the initial phase. Every industry in similar peril will need a lead generation company that can supply them with an appropriately catered and customised lead generation plan for finding and converting new investors. Whether it’s a boom or a slump, there is no escaping the fact that any plan created without the present market in mind is already outdated and inapplicable.