In the context of sales, what does 'lead generation' mean?

Lead generation refers to the process of identifying and attracting potential customers who may have an interest in a business's products or services. This is a crucial step in the sales process, as it helps to build a pipeline of potential buyers who can be nurtured and converted into paying customers.

Identifying potential customers often involves market research, networking, and leveraging various marketing strategies, such as content marketing, social media, and targeted advertising, to capture the interest of prospects. Once leads are generated, they can be qualified and nurtured through follow-up communications and targeted promotions to guide them toward making a purchase decision.

In contrast, other options focus on aspects of the sales process that come after lead generation or do not relate directly to attracting potential customers, such as analyzing existing sales data, preparing products for sale, or finalizing deals with clients. These activities are important in their own right but do not capture the essence of what lead generation specifically entails.