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What Lead Means In The Business World

Like anything we learn from scratch, there are many specific terms and phrases that we may not fully understand. One that can often stump wantrepreneur’s is what lead means. In the English language, the word lead means to lead something. Show someone how to go in a particular direction. 

Well, in the business world, it means the same. A lead is simply that. Leading a potential client to your product or service.

Working with people first starting in business is a challenging journey. Many of them are used to the security of their day jobs. Even though they want to go out and be their own boss, fear may be keeping them trapped. So, it would be best if you did your research before taking the plunge. One of the many things to learn is what lead means in business.

The Customer Journey

We’ve all been on them.  We may be unaware of it, but I can promise you that each of us has been on many customer journeys. A customer journey is the steps you take between having a desire or need, finding a company to meet your requirements, and then servicing your desire with that company. 

You become a lead to a company when you exchange some way of the company contacting you.

Let’s say you are scrolling through your Facebook. All of a sudden, something catches your eye. You see an ad for something you’ve wanted for the longest time. This is when you become a prospect.

Let’s say you click on the ad shown to you, and it takes you to their website. So, now you are off Facebook and checking out the item or service that grabbed your attention. Perhaps you are compelled to take some form of action. Maybe you are not.

This is the difference between being a prospect or traffic and potentially becoming a lead. I can feel your excitement, right? Because you’re starting to understand the journey and work out precisely what lead means, aren’t you?

The prospect only becomes a lead when they take some action. This can be exchanging their email address for a free download or booking in for a free discovery call. Before this, they are simply a prospect or traffic. Make sense?  

How to Turn That Lead Into A Customer

So, that tells you what lead means, but how do you turn that lead into a customer or client? Well, we’ll cover that in another post coming up soon. However, to give you a little teaser, there are many ways you can take that lead and turn it into money in the bank.  

Having something that compelled them to take action and turn from a prospect to a lead in the first place makes a massive difference. This means making sure you have an excellent hook, a fantastic website, and excellent copy! If you are getting prospects visiting your website and not taking action, then there is a problem to solve in this first conversion stage. Check out our posts on lead generation and conversion for more advice on this. 

So, now that you have a basic idea of what lead means, you can go out and start attracting potential leads to your business. There are many steps to this process, and if you do not know what these are, I implore you to do your research.

We have many blogs teaching you how to attract the right people and convert them through the customer journey coming up. Make sure you like and subscribe to us either on our Facebook page or our Youtube channel.

Tomorrow’s post will be more about what leads are in sales. We’ll go into more depth about the types of leads you want and the ones you don’t want. See you then. 😊  

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