In order to build a successful business or to make the company stand out from other competitors, lead generation is what you need. Conversion, on the other hand, is about how leads will actually buy your products and services.
Lead Generation: Lead generation is concerned with highly qualified prospects such as website visitors who are interested in your product or service. These prospects are also referred to as leads.
Conversion: Conversion refers to the action that leads take when they buy your product or service. The immediate goal of conversion is to sell something while you're on site (such as a subscription). The ultimate goal of conversion is achieving a lifetime customer relationship with the customer who becomes loyal and has high retention rates after converting.
Of course, the conversion rate is not the only thing that determines your success. There are other elements like customer experience and sales. However, I believe you should focus on your conversion rate in order to have a better understanding of which of these metrics you need to improve on.
You should also keep in mind that there are multiple strategies, tactics, and techniques you can use to increase your conversion rate. Along with a list of tools that provide analytics for all kinds of conversions including web traffic, social media followers and website visitors.
Let’s break down the challenges that lead to conversions and see how AI can help with them:
Lack of time to track and manage leads: Increasingly, marketers are becoming aware of the need for high-quality leads and sales. To get these marketing professionals set up on a better lead management system, they need help from an AI tool that helps track their progress through every stage of conversion funnel.
Lack of patience with human sales reps: Marketers are constantly looking out for ways to do their tasks more efficiently so they can spend more time on their customers.
A business lead (also known as a sales lead) is someone who is interested in the product or service you sell. Companies create leads from a number of sources and then follow up with each one to evaluate whether the business lead is a suitable fit for the products or services they offer.
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