In today’s digital world, demand generation is the biggest challenge for every company, whether a startup or a big corporation. It is different from lead generation and has a completely different process. It makes it difficult for some companies to execute it perfectly and yield good results.
Many assume that demand gen is about generating leads and increasing revenue. This isn’t entirely true because it involves high-quality leads that engage with your brand and fit under the umbrella of the target audience and often ideal customers.
More than ever, marketers and demand generation teams face mounting pressure from their executives to tie marketing efforts to revenue. That’s where a solid demand generation strategy comes into play. Nowadays, the pressure to create a compelling demand generation strategy is extremely high on the team and marketers.
This is possible with a well-planned demand-generation strategy. Let’s find out the best demand generation strategies that can give a boost to your business.
What Is Demand Generation?
Demand generation is a strategy to increase the demand for any business’s products, services or offerings. It can be best achieved using a holistic approach in which the marketing departments brainstorm ideas and understand everything about their target audience and potential buyers.
The first step involves finding the right customers that will like your business. Your marketing message will spellbind them because they can see the value brand will provide them. It’s different from inbound strategies as marketing and sales departments work closely in this case to achieve the campaign goals.
It is a long-term relationship between the primary departments and customers. Businesses use demand gen strategies to capture the attention of their audience. Once they have the audience’s attention, they ensure that prospects are qualified for the service. It is done via scoring systems, and the lead is further nurtured.
3 Cores Of An Effective Demand Gen Strategy
If you are thinking about creating an effective demand generation strategy for your business, ensure you are well aware of these cores. They ensure that the campaign brings good results.
Demand gen isn’t a one-person task. It’s a joint effort of sales and marketing teams. The people in these teams are referred to as players. The players in your demand gen strategy from the marketing team must include the demand gen marketing team leader, marketing specialist and marketing operations.
Meanwhile, the sales team must have skilled players with job titles such as sales manager and sales operation. None of the teams can be downplayed as both have special importance. With their collaborative effort, optimum results are generated.
The salespeople are players that open the communication between marketing team members and define the processes which shouldn’t be overlooked. This single thing can be a huge game changer for demand gen campaigns.
The demand generation is incomplete without methods that are tailored to increase engagement with the customers. Moreover, it helps build a bond with the audience, making your brand unforgettable.
Targeted inbound and outbound activities are used in demand generation. We will also look at some of the best demand generation strategies in the further section of this article.
A demand gen strategy or campaign aims to increase lead quality. Get more conversions and boost the buyer cycle. Because ultimately, it’s about increasing revenue by using marketing source leads. Many people make huge mistakes and focus more on quality, but it’s about quality.
If the pipeline is full of leads, but they are low quality, then you can’t expect to run your company profitably in the long run with this. Because it weakens your relationship with the sales team, focus more on generating high-quality leads, even if the number is low initially. With the right strategy, you can get closer to your goals of a demand generation campaign.
Related: What Is Lead Generation?
What’s The Most Suitable Way of Measuring Demand Generation?
With demand gen metrics, you can check your campaign and analyze whether the strategy is effective or not. To analyze your strategy, you should know what’s the main focus. Here is how you can measure your demand strategies using key performance indicators.
- Number of funnel conversions
- Overall performance of your content
- Cost per acquisition
- Closing percentages
- Impressions rate
You can also conduct a customer satisfaction survey. That is fairly important and helpful in monitoring how your audience sees you. Moreover, the best way to do this is by conducting surveys on and off to learn more about your existing and new customers.
You can even use this data for creating a demand generation strategy. By assessing these elements, you can identify weaknesses and strengths and formulate new improvements for your strategies.
Demand Generation Strategies That Actually Work
If your demand generation strategies aren’t performing well and giving the desired results. Then it’s to make changes so your business can reap some benefits. Here are some of the best demand generation strategies you should implement in your business. They will not only increase brand awareness but also increase the rate of high-quality leads.
Design Customized Funnel Framework
Consider a demand generation funnel as a map through which you can practically see every stage a customer goes through. In simple words, you can visualize the customer journey step-by-step. It will help you understand how the customers first notice your brand and when they buy your product.
That’s why doing market research is considered heavily important. It enables you to understand the model you should adopt for your strategy and how to tailor it according to your industry. In order to optimize your funnel framework, you need to know about four primary phases. You can divide the framework into them.
However, it’s essential to experiment and see which strategy works best for your business in demand generation. The one-size-fits-all approach is not recommended for any business. You can get inspiration but don’t forget to make it unique and avoid copy-pasting it as it is.
CRM & Automation
There are many things happening at once in demand generation, such as engagements, leads messages etc. Managing all of them can get hectic but it’s important to get back to leads. So how can you make this easier, faster and more accurate? Nowadays, many automation tools in the market specialize in helping you run campaigns smoothly. You can do more work in less time. These tools can help in the optimization of a lot of areas. Some of them are;
- Online reputation management
- Lead generating & nurturing
- Promotional email campaigns
- Search engine optimization
- Scheduling of social media posts on all channels
Automation allows all parties managing demand gen strategy to track their performance and fulfill their duties more diligently. It’s important to use the right tools to carry out these tasks. It will also help generate leads so more customers become aware of your brand and become interested.
In order to convert your prospects into leads, you can’t only create a strategy and then relax. At every stage of the funnel, you have to build a strong bond with your audience so they can make a purchase.
It’s important to listen closely to what your leads are looking for, how they want them, and their needs. Give information and persuasive messages to your leads at every stage of the sales funnel. With the ever-changing digital experience, it’s important to utilize every channel.
Ensure a smooth cross-channel experience. Give them clear instructions about the next steps they need to follow. Develop a seamless, creative and personalized marketing strategy for your business. It will make your customers feel more connected, valued and heard. You can use automation tools as well.
Work On Lead Scoring
When you are running a business, every minute is important. No one should waste it on useless things instead of nurturing leads that won’t even make a purchase. You must ensure your leads will take the leap and get your services.
This is possible with lead scoring, and you can ensure every lead is qualified enough to move forward. You can do this by giving a specific score to your leads based on the data provided. Consider these important points while scoring your leads.
- The interest of leads and their engagement
- Activity on social media
- Lead behavior
- BANT which stands for budget authority, need and time
- Demographics of lead
With this score, you can efficiently nurture your leads. With this, you can also find the best time and way to reach out to them.
For scalable business development, focus on an account. If you focus on that instead of individual leads, you will be surprised to see the amazing results. With this, you can combine resources, strategies, and efforts and build a marketing and sales strategy for your business.
With ABM marketing, you can get all the data points and, based on that, find the best accounts for leveraging. Moreover, with this approach, you can get hold of so many contacts. You can convert them into leads by providing customized communication and adding value.
To strengthen demand generation campaigns, many businesses use educational content. It is used as a basis to educate audiences and increase brand awareness. If your demand gen strategy isn’t working properly, then you need to create a robust content strategy. Create a solid plan and publish consistently without a break.
This way, you are more likely to get leads and revenue. Before creating a content strategy, understand your target audience. But how can you do that? Simple!. Define these pillars;
- Who is your target audience?
- What is your brand voice and style?
- What is the primary objective of your content?
- How do you plan on promoting the content?
- What type of content do you want to create?
Content marketing is becoming popular day by day. According to the latest report, around 93% of B2B marketers use it to convey their message to the masses. Create a blueprint for your content plan that’s relevant.
Social Media Channels
If your demand generation isn’t capturing the attention of your target audience then you aren’t doing it right. Social media is the best and fastest way to achieve it. However, you must know how to execute it properly.
Don’t rely on one social media platform. Use at least two or three. Before choosing a social media channel, consider the platform on which your target audience is most active. You can use the following;
Diversify your content, and don’t forget to interact with your prospects. Provide them with essential insights relevant to your brand. Social listening is also critical, giving you endless information about your audience.
Overwhelmed by Demand Gen? Let Our Experts Take the Wheel & Drive Your Success!
With a well-planned demand generation strategy, you can get your audience’s attention. Even in a crowded market, you can stand out from the competitors. A strategic approach is the only way to scale your demand generation strategy and 10x your ROI. If done correctly you can increase your customer list, brand loyalty and conversion list.
You don’t have to get overwhelmed with planning, strategy and execution. Contact us today and let our experts handle your demand generation campaign.
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