If you want to grow your business, outsourcing certain aspects of your sales and lead generation process can be extremely beneficial. Hiring an expert to focus on leads allows you to get better results, while you focus on what you do best. The process is more efficient and usually saves your company a lot of money.
But what is the difference between lead generation and appointment setting? Check out our guide below to learn more about the ins and outs of these various styles of driving new business.
What Is the Difference Between a Prospect and a Lead?
Before we talk about the differences between lead generation and appointment setting, it’s important to understand the differences between a prospect and a lead. A lead is a person or business that has voluntarily given out their contact information to the business and could be a potential business opportunity. A prospect is a person or individual who has actually spoken with a salesperson or appointment setter and has shown interest in making a purchase.
This means that prospects are further along in the sales funnel than leads. They’ve engaged in two-way communication, while leads have only had one-way communication.
What Does Appointment Setting Mean?
Asking yourself, “What does appointment setting mean?” As we mentioned above, this is a strategy to bring in new prospects by setting a date on the calendar for your sales team to discuss your product and potentially make a sale. All of this can be done by an outsourced company, so all your sales team has to do is look at their calendar and show up for the appointment.
So how do you become an appointment setter? These people are important to the sales process and usually possess excellent conversation and people skills. Usually, a high school diploma and experience with customers is required. If you’re looking for an appointment setter, make sure the company or person you hire is well-qualified to do the job.
What Is the Difference Between Lead Generation and Appointment Setting?
Lead generation and appointment setting have many similarities, but they have a few key differences that you’ll want to take a look at before deciding which one is right for your business. The two marketing methods differ in the following ways.
The goal of appointment setting is to get your business in front of many new clients so you can create new partnerships or make sales. On the other hand, the goal of lead generation is to find new potential clients who might be interested in your product or service. Lead generation does not include booking appointments. Instead, it usually involves cold calls, networking, and referrals to build a list of potential clients.
Both appointment setting and lead generation involve talking to potential clients, but appointment setting takes it a step further by putting a date on the calendar and establishing the time you will be in contact with the prospect. Lead generation is more about finding new potential clients, then passing the information on to the business to decide what their next move will be.
Appointment setting is a very clear-cut solution. The appointments show up on your calendar, and the sales team calls, emails, or meets with the prospect on the appointed date. Lead generation is also quite a simple process, but the final result is more open-ended. You will receive information about a potential client, but there will not be an appointment set on the calendar.
Both lead generation and appointment generation have their own pros and cons. Lead generation is a great way to create a bigger pipeline or close a few quick deals and engage new customers, while appointment setting is a long-term solution that can foster stronger prospects over time.
What Is the Difference Between Marketing and Prospecting?
With all this talk of bringing in leads and prospects, you may now be wondering: What is the difference between marketing and prospecting? There are many similarities, but prospecting is usually about nurturing individual relationships, while marketing is about sending out a mass message to a target audience.
Deciding What’s Right for Your Business
Now that you know about the differences between lead generation and appointment setting, which one is right for you? Only you can decide the answer to that question, so think about your goals and do thorough research before you choose the best fit for your needs.