Lead generation is one of the most important elements for every business to drive targeted audiences to your website and increase lead flow. But another element that is as important as Lead generation is Demand Generation.
As observed by CMO of Kennected Stephen Twomey and other experts, people often use lead generation and demand generation interchangeably.
But this confusion can negatively influence the lead flow. Therefore, it is crucial to understand the difference between both terms to generate more leads at a lower cost per lead (CPL), thus helping to generate more revenue. So, what exactly is demand generation?
What is Demand Generation?
Demand Generation is a methodology used by the Sales and marketing team to boost the demand for the services or products. It helps B2B businesses to build brand awareness and pique interest amidst their targeted audience.
By developing interest among its targeted audience, you will be able to boost market speed, find the right leads, and garner the targeted audience’s interest.
So, to build and strengthen your brand awareness, you need to focus on Demand generation. It will help in pointing out the audience’s pain points and provide a solution or make them aware of how you can help them solve their issue.
Demand generation is not just creating interest in people by false promises or tricking them to buy a product or service, but it is about providing the right audience with the right information. It ensures that what you provide is perfect for the ideal leads.
To increase the demand, you can use blog posts, infographics, videos, social media posts, case studies, podcasts, interviews, and more.
Now let us look at how to create an effective demand generation strategy?
Demand generation strategies
To create demand, you need to make good messages and intriguing content for your targeted audience. By creating a demand generation funnel, you will be able to understand what your prospects want.
So, to create such an effective Demand generation funnel, you will need the following:
Alignment between sales and marketing team
To generate demand, one of the most important things is for the market and sales team to work hand-in-hand. They should work in silos to understand the buyer’s needs, attitude, their purchase patterns, and to provide a positive experience.
The sales team needs to understand the buyer’s needs and try to see the product or service through the eyes of the prospects to improve their sales position. To keep the leads moving through the sales funnels, and demand generation market.
The marketing team will attract leads and will pass them off to the sales team to close the deal. Thus marketing team and sales team should be on the same page to generate quality leads and boost the conversion rates.
Now let us understand what demand generation marketing is and how they create demand for your company’s product and services.
What is demand generation marketing?
Demand generation marketing is strategies that will boost the demand for the product or services of an organization. Good demand generation marketing will strengthen brand awareness, visibility, and credibility, engage the audience, and generate leads.
Let us look at some effective demand generation campaigns.
1. Free Tools
One of the most successful ways to increase demand is by providing free tools to the targeted audience or resources.
When provided a free tool, the audience will tend to try it. So, if they like the service or product they will become more curious about your businesses and services, thus turning them into quality leads.
2. Gated contents
Gated contents refer to e-books, white papers, videos, and other high-value resources that are informative and empower the audience. These materials will teach the prospects, and provide them with some tips or solutions to the issue that are related to your service.
Through Chatbots, you will be able to make the visitors fill out forms and share their details which can help in lead generation. This is a good way to maximize the engagement of the visitors and customers with your website.
4. Social Media
Since we are living in an era dominated by Social Media, you can use it to build trust, engage with the targeted audience, and create a positive image. You can use this channel to create an image as a thought leader who is reliable and can solve the prospect’s issues.
One of the main elements to attract quality leads to your website is content marketing. A successful content marketing strategy will empower the customers, pique their interest, and pull them into your sales funnel.
Going for interactive content like quizzes can engage the targeted audience and also entertain them and catch their attention.
6. PR Campaigns
A PR campaign is one of the most effective ways to engage with the audience as it opens many opportunities to interact with the targeted audience. You can go to social media and stay on top of the news and pitch your stories.
So, keep implementing demand generation and lead generation strategies to improve your website traffic, generate more leads, and grow your business.