Lead gen and appointment setting share the same goal – boosting revenue and conversion rates. But their inherent aspects differ. How?
With the increasing market saturation, brands are struggling to be unique. Buyers have become self-aware, and their demands continue to fluctuate. How can marketing and sales align themselves with the latest thunderstorms and ride the waves smoothly?
According to a report by Sean Shea, a former Forbes council member, only 21% of organizations understand appointment setting as a significant aspect of their B2B lead generation tactics.
Primarily, it’s crucial to underline that appointment setting and lead generation are not the same. While both strategies might capture leads, they affect the sales funnel differently. However, establishing an appointment setting as a step in lead generation strategies can actually work as a secret superhero in elevating a business’s growth potential.
However, this isn’t the actual case.
The two are interlinked. Ineffective lead-generation efforts might directly translate to a lack of qualified appointments or high-value meetings. This has a vital impact on the closing rate.
But lead generation is a broad term. There’s no guarantee that the efforts will convert into a sale or even an appointment. Whereas appointment setting has a much-streamlined priority to ensure a meeting is booked, an invite sent and accepted, and the lead attends it.
To ensure robust appointment setting, businesses should understand how lead generation can lend a helping hand.
The observable truth is B2B sales cycles are lengthy compared to B2C. The former requires ample attention, time, and dedication to achieve measurable results. Hence, organizations must examine the facets of the sales funnel where lead generation should be given priority. And its impact on appointment setting later down the funnel.
Brands should understand which marketing strategy works well during which scenarios and at which stages of the funnel.
To help straighten this out, one should establish the key differences between lead generation and appointment setting.
Appointment setting differs from lead generation. How?
One significant facet to note here is these strategies are not interchangeable.
Lead generation’s major focus is on TOFU, whereas appointment setting targets the MOFU and BOFU. To dive into the detailed nuances, let’s focus on spotlighting some of the main aspects of B2B lead generation.
The basics of B2B lead generation
An organization can capture the maximum number of leads through a robust lead gen strategy without setting an appointment. However, appointment setting cannot proceed without lead generation.
At the core, both depend on capturing leads – this is one of the commonalities.
However, lead generation techniques are significant in creating awareness concerning the business. Hence, a major portion of priority is attributed to the volume of leads qualified. Generating leads is significantly about building a robust sales pipeline for a business, i.e., attracting potential buyers.
Even in modern marketing, most businesses continue to cast a wider net as the primary focus of their lead gen strategies. From executing comprehensive social media content to content marketing efforts – it’s all about capturing leads for them. These leads range from ones just browsing the Internet to those who have high purchase intent.
The only aspect to ensure here is the leads fit the ICP, which is why qualification takes up significant space while capturing demand.
One of the integral components of lead generation is creating awareness and demand while also collecting and collating lead information. These are crucial for future outreach, i.e., appointment setting.
But how do brands propagate the visibility and capture demand?
Through a multichannel approach, i.e., diverse marketing channels for lead identification and capture. It’s an integral component here, unlike in an appointment setting. The mundane methods involve SEO, content marketing, paid advertising, email marketing, Google ads, etc.
In simple terms, lead gen uses an omnichannel approach because the initial phases of the funnel are focused on piquing the prospect’s interest in the brand. Some channels’ targeting is broader, while the others are more spearheaded.
While appointment setting depends on generating leads, it’s more inclined toward sales.
So, is appointment setting a part of lead gen?
The goals at the beginning of each strategy might be different, but the end objective is the same – increasing sales for the business.
Lead generation is a long and complex process. It’s not straightforward, and it doesn’t entail a playbook. Meanwhile, setting appointments seems easy, one that converts to sales seamlessly, right?
It’s not quite right. Setting meetings is not a simple process. Like lead generation, appointment setting involves bringing in new prospects, blocking the calendar for a meeting, and closing this interaction with a potential sale. Practically, it ensures that the prospects progress down and end up as buyers.
But how?
It’s all about focusing on the established and qualified leads.
Through appointment setting, it’s easier to boost the intent level of decision-makers. Such meetings can help highlight their pain points and challenges and investigate how a brand’s solutions can align with the lead’s business needs.
Hence, appointment setting involves targeted outreach, leading to a deeper understanding of the prospective buyer.
But what is the strategy used by sales here?
Develop a nurturing relationship with prospects and prepare them for the final stage of the sales funnel – purchase. While the funnel requires a consistent flow of leads, the appointment setting’s focus must always be quality over quantity.
After all, the leads with the highest purchasing intent have the maximum potential for conversion. From here on, it’s the sales rep’s responsibility to guide them through the funnel and incorporate the right communication techniques to help make a decision.
Overall, some of the appointment-setting best practices comprise:
- Blocking calendars and sending invites to key decision-makers.
- Keeping a flexible script to address relevant pain points according to the prospect’s background.
- Efficient communication skills – fluent speaking and listening skills.
- Highlight how your brand’s offerings can tackle their pain points – what makes it unique amidst the competition.
- Feedback and email follow-ups after the call to nurture them.
Lead generation is enough to create a strong foundation for sales. But how can a business boost its conversion rates without a capable closer? Appointment setting swoops in as a savior.
Now that the blog has highlighted the nuances involved in both strategies, it’s time to highlight the key differences.
Differentiating Aspects of Lead Generation and Appointment Setting
Strategies used
In both approaches, the main objective is to engage prospective buyers and help them complete a purchase. However, the strategies followed by the two differ significantly.
As discussed above, lead gen focuses on reaching new clients and collating their information. The contact details are then handed over from marketing to sales to outline the quality of the lead and if they’re an ideal fit.
Meanwhile, an appointment setting is setting a meeting to engage further with the buyer and foster a trustworthy relationship. Hence, finalizing the potential sale.
What is the objective?
The overarching aim of lead gen and appointment setting might be the same. But their target differs.
Lead gen’s goal is to churn out potential clients who would be interested in what your business has to offer. It entails mapping out significant strategies, casting them to the target audience, and pinpointing who takes the bait. These are the ones who show any level of intent from low to high – clicking on a link, signing up for a newsletter, or downloading a whitepaper.
Whereas appointment setting prioritizes qualifying prospects who are high-quality leads.
Once the list of high-value leads has been created using the details articulated by marketing, it’s time to book meetings. But it doesn’t end there.
What if the set appointments are not realized? To ensure this is also of significant value in appointment settings.
The process involved
As aforementioned, lead generation undertakes a multichannel approach, such as content marketing, SEO, podcast marketing, and Google ads. The messages propagated through these channels focus on casting a wider net.
However, the appointment setting is more focused and streamlined. It involves a closer look at the audience (the prospects), i.e., outlining the buyer persona and encouraging deeper engagement. It leverages a targeted form of outreach through specific scripts and templates.
Effect on the funnel?
Because the main aspect of lead gen is to create brand awareness, reaching out is the initial step. Here, the team basically identifies prospects, gathers information, and readies them for further qualification and nurturing. The point is to ensure a constant flow of high-quality leads in the sales pipeline.
This is specifically useful for small businesses hoping to enter new market territories and focus on long-term growth.
Moreover, appointment setting focuses on qualifying leads and persuading them to make a sale. The focus is on the middle and bottom phases of the funnel. Hence, this strategy is conversion-centric and focuses on generating the maximum ROI possible.
Lead generation and appointment setting – both are necessary for a brand to prosper.
Irrespective of the strategy, clarity, and simplicity could score a brand a huge win in their marketing campaigns. When the marketing messages are direct, the prospects are more inclined to interact with the brand.
In all honesty, one could question whether simplicity boosts uniqueness. Yes. The uniqueness can be rooted in the content, but by simplifying the communication processes, the brand can ensure its message is understood.
This is why personalization is recognizably valuable in marketing. It adds a dash of uniqueness to strategies.
For the B2B industry, appointment setting and lead generation are two sides of the same coin. It’s not about which strategy is better but how a business can gauge the maximum potential of both. Both can add significant value to overall marketing and sales efforts when carried through meticulously.
The only element to remember is aligning both strategies to complement each other and enable ROI for the business.