How Does Lead Generation Differ from Acquisition Marketing?
In business, if you don’t have a steady flow of customers coming in, you have nothing. That’s why so much of marketing is geared toward lead generation and customer acquisition. But aren’t they two different terms of the same thing?
Not exactly. Although both have to do with reaching more customers, the way they go about it differs. Let’s take a closer look:
What is Lead Generation?
Lead generation is simply attracting customers into the funnel. They most likely haven’t heard of your brand before, but your offer is enticing enough to make them want to learn more. From a marketing standpoint, your next task should be to qualify the lead. The way you go about this will depend on your business.
Content strategy is an integral part of lead generation, and many companies often use freemiums, lead magnets, free trials, paid ads and more to entice customers into taking that all-important first step.
From there, customer acquisition takes over. But wait, haven’t you already technically “acquired” the customer? Not quite yet. At this stage, they’re still mostly unaware of your brand, although they want to learn more. You’ve piqued their interest and whetted their appetite. Customer acquisition then takes steps to guide them to the next stage of your sales funnel
What is Customer Acquisition?
To muddy the waters even more, lead generation is a type of customer acquisition. However, whereas lead generation is concerned with getting more people to take that first step, customer acquisition is more centered around getting them to take the next, and the next, and the next. This can involve many different techniques related to lead nurturing, such as an email sequence designed to elicit a purchase, or ongoing nurturing efforts like webinars, onboarding, training and so on.
Which Method is Better for Marketing Growth?
Many companies spend a considerable amount of time investing in lead generation, but then very little once the customers get into the funnel. Customer acquisition goes well beyond lead nurturing and involves a concentrated effort to guide customers at every stage. Always prioritize content that helps them make a more informed and educated decision, whatever form that may be in (white papers, statistics, comparison charts, etc.)
All stages of your customer’s journey are important, which means now’s the best time to work with a company like Workdom to reignite your content strategy and take your next steps toward boosting customer acquisition strategies and getting customized methods and techniques that work for YOUR business.
Contact us today to learn more!