Gartner Report: Blockchain Is Reinventing Lead Generation

Blockchain for lead generation has reached the Innovation Trigger in Gartner’s 2019 Hype Cycle for CRM Sales Technology. According to Gartner, Inc., the technology offers sales organizations the ability to provide users with the most current and highest-quality leads via the exchange of personal and/or business information based on crowdsourcing data collection methods. In addition, blockchain allows for monetizing data for revenue-generating purposes, while also protecting privacy.

Lead generation is the act of identifying and cultivating potential customers for a business's products or services. With the transparency provided by blockchain, it's only logical to notice how it can help generate leads.

“This is the first time blockchain is entering into the sales world and it has the potential to have a transformational impact on how sales organizations typically source leads and contact information,” said Adnan Zijadic, Senior Principal Analyst at Gartner. “Rather than source from unreliable third-party databases, users can instead partake in a network sharing system supported by blockchain infrastructure to source leads and contacts that fits their organization, while selling leads that do not match their ideal customer profile to other companies that may be in the market for such a lead or customer.”

Blockchain for lead generation also provides sales organization with opportunities to lower costs allocated to data intelligence solutions and master data management solutions by removing the “middle man.”

“Despite all its potential benefits, it will take time for organizations to take notice of blockchain for lead generation due to its embryonic stage,” said Mr. Zijadic. “Sales leaders should seize the opportunity to learn more about blockchain’s potential use cases while preparing for an increase in the vendor landscape.”