Demand generation, in recent years, has become a well-known name within B2B companies. When you give the right people the right information, you will be able to market your company to the right people! When a conversation begins between a buyer and a seller, there is the opportunity to create a higher conversion rate and grow those personal and professional relationships, which is crucial to generating revenue.
Demand generation is a marketing tactic that helps to drive awareness about your goods, products, or services. When you build that awareness, you can also develop a relationship with your customers, which will lead to more business. According to Ruler Analytics’ Marketing Attribution and Reporting Analysis 2021, 37.1% of marketers state that generating high-quality leads is their biggest challenge. Through the use of data and analytics, you can pinpoint exactly who to market to and receive high-quality leads to work with.
There are a few benefits to developing a demand generation strategy . Let’s take a look into some of the benefits of demand generation.
In terms of creating brand awareness, you want your brand to stand out from the rest, but in a memorable way! You will want to market your company or product in order to bring traffic to your website so guests will want to seek out your company when they think about your product. If you build a relationship with your website visitors', the likeliness of them becoming life-long customers increases.
Generating leads is so important in the business world, as it is the way for you to generate revenue and build strong relationships. When you generate leads, those leads can eventually turn into customers who will bring your company business! Be sure to communicate to your potential customers that your brand is a solution to their problems and why they need your company in order to help them succeed.
When there is a higher demand for your company or your product, it can greatly increase the amount of revenue being generated! Understanding who your target demographic is can help the marketing team market your product right to that audience. If there is no brand awareness for your product, there will be no revenue, so understanding your brand awareness is crucial in order to generate revenue.
Some people may think that lead generation and demand generation are the same things , but they’re not! There are many differences between demand generation and lead generation. Demand generation helps to raise brand awareness and increases demand for a product. Lead generation helps to turn a target audience into quality leads. A demand generation strategy focuses more on the product and the awareness around it, while lead generation focuses on the person and turning them into a returning customer.
In order to generate demand, you must first establish a need for your products or services before you can sell them to clients. Demand generation, in contrast to other marketing techniques, addresses each touchpoint along the consumer journey before even entering your sales funnel. Here are the best demand generation strategies you can use right away:
Your brand awareness helps customers see a positive impression and the benefits of choosing your company. According to Zippia, it can take five to seven impressions for someone to remember a brand. This is why consistent brands and brand awareness is important. When you understand what your potential customers are looking for, you will be able to build your brand around that. Building relationships with your customers is one of the most important parts of your brand awareness.
There are different levels of the sales funnel that your website visitors will fall into. The funnel at the top is the Top of the Funnel (TOFU), which consists of blog posts, podcasts, and webinars. The middle tier is the Middle of the Funnel (MOFU), which is reports, guides, and case studies. And at the bottom is the Bottom of the Funnel (BOFU), which is comparisons, testimonials, and demos. Within each level of the funnel, your guest might need something different explained to them. Be sure to go through each level of the funnel along with your customers.
Your leads are what is important for your company to generate revenue. When you market to the right people, or your target demographic, they can turn into high-quality leads! Be sure to have a clear picture of who you want your customers to be, so you don’t waste time on lead nurturing or marketing to people who don’t need your goods or services.
Inbound marketing helps to generate leads for your business. Your target audience can be chosen based on the content you create. When you create relevant content, your audience will become engaged and more likely to reach out to your company in the future when they want to connect with you.
Sales enablement means that you give your sales team the best resources to help them succeed! The sales team is the one who closes in on the sales for the company, so giving them the tools and knowledge to succeed will bring in revenue for your business.
Customer retention helps to bring back customers time and time again. If the customer has a positive customer experience, they will be more likely to return to your business in the future!
LinkedIn has become the best way for businesses to connect directly with customers. Businesses can test out features like a chat feature, which is the best place for the target audience to reach out quickly.
As discussed above, great marketing can generate revenue. Once you use the marketing to get your target audience hooked, you can then pass them off to the sales team to close the deals. Sales and marketing teams can work together to make a plan to generate the most revenue possible.
Chatbots help to collect data for your marketing team. They are easy to build and can be customized to your company's needs. The chats can also be saved to be used in the future for training or as a reference point!
Omnichannels are multiple social media channels and even device platforms for your customers to reach out to your business on. Your customers may use all different forms of social media, so be sure to have your company on each one, in case your customers need to reach out.
Blogs can address any issues within your business and how you plan to combat those issues. You can add a call to action button at the bottom of the blog, which can help to gain an even larger audience. Your call to action can also have your guests signing up for any webinars, conferences, or product demos you have in the future!
Lead magnets are tools that help to generate leads for your business. Guides, tool kits, templates, and checklists are used for your business to generate leads and demand.
Both in-person and virtual events can become networking opportunities for everyone! Guests can talk to the company hosting the event, as well as other attendees, and build relationships that can last for years to come!
Webinars are able to host hundreds or even thousands of people at once! You can create the webinar topic around demand generation and people can join the webinar and companies can have their full attention on the subject. You can also engage with your audience about any questions they may have.
Podcasts have low competition when it comes to marketing via this channel. You can speak about the topics at hand, and you can truly capture the attention of the audience for the length of the podcast. If there are any questions, encourage guests to send them to you via any of your company’s social media channels.
Visual content has a higher success rate of keeping your audience engaged than text content. According to Unbounce, adding a video to a landing page can increase conversion rates by up to 80%. You can connect and inspire your audience through video. You can also become creative with the way you create your video content!
Direct mail helps to get your name directly in front of the right people and is a straightforward way to market your company to your target audience. You can use mailers that say all of the perks of your company!
Contests are a great way to generate leads and demand. If you choose to have a contest, it can be done in exchange for a customer’s contact information. Customers can receive goods or swag if they put down their contact information, with the understanding that they might be contacted in the future.
Social campaigns help companies understand what their customers are looking for! By searching for and monitoring keywords, you will be able to communicate easily with guests and have genuine conversations with them.
PR campaigns help you connect with the media in order to promote your business! Try reaching out to your local tv and radio stations to promote your business through media.
Influencers usually have a large audience and a genuine connection to their audience. When you reach out to them, they can use their influence to speak to their audience about your business which will help to reach an even larger demographic .
With account-based marketing, you can market to individual or even small groups, rather than a larger blanket group of people. You are able to customize the marketing to these smaller groups, according to what they like.
Working with a 3rd party marketing team, they may have a larger audience that they work with. When you collaborate, they are able to market your company to their large audience, which can help to generate leads!
You can connect with customers who are looking for similar solutions. You are able to use data to see how your customers act online and what they are looking for. Based on that data, you can use it to market your business to groups that are looking for similar things!
Now that you have tips on how to create your demand generation strategy, you need the best practices! When you turn a lead generation into a returning customer, that will be a success for your company.
<span class="mid-size-title">Be consistent</span>
Whether you are branding your event or your business, make sure that your brand, tone, voice, and style are the same throughout. Being consistent with your customers will make it easy for them to identify you and return to you in the future.
<span class="mid-size-title">Work with the sales team</span>
Once the generated leads become loyal customers, refer them to the sales team. The sales team members are the ones who are going to close the sales, which creates revenues for your business! The sales and marketing team can work together to create a business plan that can reach an even larger audience.
<span class="mid-size-title">Customize customer journey maps</span>
When you develop a strong customer base, you can then create customer journey maps for them! You can display their strengths and weaknesses and even any motivators. You can also explain how to work through any issues they may have, and be sure to let them know that your business is there to support them!
<span class="mid-size-title">Analyze campaigns</span>
When it comes to marketing campaigns, you should evaluate what works and what doesn’t. You should look at traffic, conversion rates, and sales leads. If you see that one of them is lacking, that should be an area that you should focus on!
When you create a demand generation strategy, you will generate new leads that you never would have had before! Creating relationships between your business and your customers will ensure that they come back to you every time. If there is a new product or service you wish to showcase to your customers, you need to choose the most effective way to do that. If you know that your customers use social media as their main form of communication, you can use all sorts of social media channels to promote your products! You can also create a phenomenal marketing campaign when you encourage your sales and marketing teams to work together! However you choose to execute your generation demand strategy, you can be sure your customers will build relationships with you and will be returning customers .
In this episode of In Any Event, Gloria Zhu (Director of Demand Gen at Hubilo) and Morgan Chaney (a B2B People-First Marketing Veteran) talk about the importance of putting your customers at the heart of everything when it comes to demand gen, and how it delivers long-term value for your brand.
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