Demand generation is a marketing powerhouse that boosts brand image, drives traffic to websites, and generates potential leads. It is the antidote to silos in the sales and marketing departments. So, if you want to create a massive, robust pipeline of potential buyers, this is exactly what you need.
What is Demand Generation Marketing?
The objective of demand generation marketing is to create a reliable funnel for your sales representatives. First, it covers the initial efforts designed to get your target audience to enroll in your mailing list. Furthermore, it directs your audience’s engagement with your content, attendance at your events, and other activities. Demand generation marketing nurtures and engages your prospects, maintaining your brand at the forefront of their minds.
The objective is to guide them through the purchasing journey till they become qualified leads. Then, with the right sales presentation, you may convert them into a new customer.
Demand Generation vs Lead Generation
Demand generation focuses on expanding your clientele by attracting new users to your website and promoting your products and services. Lead generation, on the other hand, seeks to transform your viewers into qualified leads. It’s a minor distinction, so we developed a full post discussing the differences between demand generation and lead generation.
Lead generation is fueled by demand generation. First, you must raise awareness and generate curiosity because not everyone is willing to subscribe or convert right away. In reality, especially in large businesses, purchasers are tied into vendor arrangements that restrict them, although an audience member may not be willing to speak with your sales team at this time, they may be interested in watching your videos or reading your blog content. Consuming material that is informative, interesting, and actionable increases trust and brand recognition. When that audience member is ready to buy, you’ll already have a foot in the door!
Lead generation is mainly concerned with converting leads into “qualified” status in order to begin sales discussions with the brand.
In certain cases, demand generation and lead generation overlap. Driving registrations, for example, might be considered both if you give product-focused webinars. And, when it comes to nurturing your database, both are useful for developing relationships as you progress them through the conversion funnel, from seeking competitors until certain dates and times have passed.
B2C vs B2B Demand Generation Strategies
In most cases, B2C businesses must gain permission from only one person: the client (and maybe their spouse or family). B2B marketers, on the other hand, frequently need to secure the support of whole teams, key decision-makers, and, in some cases, an entire department.
All of these start to add up to a substantially lengthier sales cycle for B2C businesses. In certain circumstances, a B2B purchasing decision might take six months or even a year. Decisions are made after considerable discussion by several stakeholders and various approvals at various organizational levels. As a result, your B2B demand generation initiatives are only one stage in the process of developing your sales funnel.
Importance of Demand Generation Marketing
Increase brand awareness
Business demand generation programs are awareness spinners that do more than simply drive traffic to your website. Inbound marketing strategies that are well-executed help your brand reach out to customers who may not yet require your product. When people see your brand in thought leadership pieces, on stage at industry events, or mentioned on social media on a regular basis, such digital demand generation activities establish trust and awareness over time.
Your demand generation process will make an impact immediately, attracting active and interested traffic to the website. That can be accomplished with a fresh white paper or research study. However, like with other awareness-raising approaches, short-term movement is only the tip of the iceberg. You will eventually see long-term influence when firms establish a need for your product or service.
Generate more leads
Despite the fact that demand generation has a wider emphasis than lead generation, a well-executed demand generation strategy provides a huge growth in leads.
Demand generation, when done correctly, fills the top of the funnel with a steady supply of new potential leads. A portion of them may quickly transform into high-quality leads. Lead nurturing, on the other hand, might take months or even years depending on your market and product.
Greater qualified leads equate to more revenues. Because online demand generation is both a short-term and long-term business approach, you may anticipate benefits not only in a few months but also over time as you create your funnel, nurture it, and create a pleasant, constant relationship with the audience.