How do you get customers’ interest in your products? The answer lies in demand generation!
This technique involves increasing your company’s notoriety with potential customers in order to generate direct, immediate and long-term sales. Based on inbound and outbound marketing strategies, demand creation is now essential to ensure the growth of your business.
Have we aroused your curiosity? Excellent ! Let’s take a look at together how the demand generation approach works, its main differences with inbound marketing, and how to integrate it into your business strategy!
What is Demand Generation Approach?
Demand generation is aptly named! This strategy aims to create a closer relationship between the brand and the consumers through marketing techniques that encourage direct selling.
Demand Generation establishes a series of touchpoints aimed at making customers aware of their problems, establishing your company as a trusted advisor and partner.
You want to not only generate instant conversions, but build a long-term relationship to foster genuine loyalty to your products or services.
The Apple brand, Apple, uses consistent demand generation. For its new products, it strengthens its existing customers. It does not highlight complex technical features (such as memory or processor power), but prefers to communicate improvements to key features, such as camera rendering or compatibility with existing accessories.
The goal is to create new demand for its new products, even if they are similar to the previous ones.
Demand Generation vs Inbound Marketing: What’s the Difference?
Even though inbound marketing and demand generation approaches are similar, they have notable differences!
target
Demand creation is a function: you want to generate demand for your product or service. For this, it has two main purposes:
- Arouse consumer interest and let them know about your offer.
- Develop long-term relationships with prospects and customers.
On the other hand, inbound marketing is the way by which you can create demand. Its main objective is to deliver strangers into customers (and then brand ambassadors) in the right content, right place and right time.
Demand generation, a technology focused on sales
Demand generation strategy is favored by companies with a sales-oriented culture. It combines both inbound and outbound marketing to generate direct conversions, whether in the short or long term.
This technique is to give customers the impression that they need your product. This requires a global and proactive marketing strategy that will seek customers out where they are, even if it means cold calling or resorting to shopping lists, for example.
Inbound Marketing, a Marketing-Focused Approach
A more passive strategy, inbound marketing involves attracting prospects into your sales funnel. It is one of the methods involved in demand generation.
It supports a proactive approach, providing relevant and educational material to leads, to accompany them on their journey. Inbound marketing essentially uses digital channels (email, social networks, blogs, influencers, search engines, etc.) and enables results to be achieved in the medium and long term.
What are the benefits of a demand generation strategy?
Why Implement a Demand Generation Strategy in Your Company? So that you no longer have any doubts about the positive effect of this technique, let’s look at its main advantages.
Align sales and marketing departments
The methods employed by a demand generation strategy are a great way to bridge the (all too common) gap between the marketing department and the sales department.
Case studies have shown that encouraging collaboration between the marketing team and sales reps leads to a 38% increase in deals. The key to connecting the marketing funnel to the sales funnel is… that allows a demand generation strategy!
Optimize Customer Awareness
Demand generation allows you to present yourself differently to potential customers. Instead of focusing on selling your product, you make it a necessity. Once he understands how this need affects his business or daily life, he will be more receptive to sales messages.
Manage your expert image
By creating interest, you become a reliable source of information. The more relevant your content and the higher the value added, the better your brand image will be. When making a purchase decision, prospects will be more inclined to use a company whose expertise has been recognized.
attract more qualified prospects
A demand generation strategy brings highly qualified prospects. The reason is simple: the purpose of your marketing efforts is to educate them on how you can help them. You guide them throughout their reflection, helping them choose the appropriate solution.
This support allows you to establish a relationship of trust, while informing prospects as much as possible about what you can accomplish for them.
After such a detailed process, leads know enough about your business and your offerings to make a more informed decision. The moment they are assigned to the sales rep, they are more likely to convert.
6 tips for creating an effective demand generation strategy
The demand generation strategy to be implemented varies according to the activity of the company and its audience. However, there are general techniques needed to create demand for your products or services.
1. Define a quantified objective
Before thinking about ways to employ to pique the interest of your prospects, set yourself a specific objective. Since the goal is to increase direct sales, you will need to choose a number (a percentage or a number).
This will allow you to determine the number and types of marketing campaigns needed to reach your goal, as well as measure your progress throughout the year.
Good to know: Define not only the sales figure, but also the number of leads or prospects required.
For example, if you want to make 50 more sales and you need about 3 leads for 1 conversion, your goals would be:
- Generate 150 additional leads.
- Make 50 more sales than last year.
2. Analyze Prospect Requests
According to a study by Accenture, 57% of B2B buyers go through the purchase process before contacting the company. And according to a BVA survey, 90% of consumers research online before making a purchase.
For an effective demand generation strategy, create a customer journey map to understand how they engage with your business. Analyze the data for the keywords used to get to your site or blog. You can also conduct a survey and ask your current customers directly how they heard about your offer.
This information reveals the requests made by your potential customers and helps you tailor your marketing campaigns accordingly.
3. Customize Content at Each Stage of the Funnel
The request is in progress. That’s why you should create a content strategy that helps your future customers learn and inform their buying decision. Ideally, plan customized content for each leg of the journey:
Awareness
For the top of the funnel, you need content that creates awareness for your business, highlights a need, and sparks desire.
Targeted questions asked by your cold leads (belonging to the sales department) using blog posts, social media posts and instructional videos.
thought
At this point, the prospect knows they have a need and begins to figure out ways to fill it. You have to show him that you understand by offering concrete solutions.
Preferred material is white paper or buying guide.
decision
You have to persuade the prospect that your company is the best choice! It’s time to air case studies, webinars and customer testimonials. If possible, also offer a free display of your products or services.
You can also publish blog posts targeting keywords with high buying intent.
4. Improve the Effectiveness of Your Ads with Niche Targeting
According to Google, only 50.2% of your ads are seen by your target. This means that half the advertising budget does not generate ROI.
Begin by identifying the platform your target prefers to reach and generate demand for your audience. No need to advertise everywhere, the key to success is in targeting.
In B2B, you will mainly find results on Google Ads and LinkedIn Ads. While in B2C, you’ll be able to take advantage of Facebook and Instagram ads as well as Google Ads.
All of these platforms offer specific advertising options, so you can specifically reach your ideal lead.
5. Use Account Based Marketing (ABM) Techniques
Well done, ABM helps you generate demand from your target B2B accounts. Also, we read about it in the article “Account Based Marketing: How To Measure Your ROI?” Let’s talk. ,
The purpose of this strategy is to target only high potential prospects. In other words: buyers or companies that need your products or services. To get it:
- Create a list of target accounts that match your buyer persona profile.
- Target them through various marketing approaches: email, social media ads, LinkedIn private messaging…
- Include strong personalization in your messages to show that you know their needs.
6. Create a Marketing Event
Nothing like an event and a face-to-face meeting to create demand! A survey by Bizabo found that 95% of marketers believe that events have a major impact on achieving their business goals.
By starting your own conference, exhibition or workshop on your own, you establish yourself as an expert while increasing your notoriety. You will attract qualified prospects and will be able to share your knowledge in a friendly manner. This will be an opportunity for them to ask you questions and find solutions to their problems. You will have time to explain how to help them, but also to make them aware of your offers.
A marketing event generates direct sales, but also drives subsequent conversions. In fact, such an appointment inevitably remains in the memory of the participants. When making a decision, some prospects will remember you and be more likely to contact you.
our tip
Demand creation is essential to generate sales. Without demand you will not be able to grow your business! To create this need, take the time to identify your audience’s goals, pain points, and expectations.
You can then create content that talks to them: from cold calling sales scripts to publications on social networks, including blog articles, white papers, educational videos or newsletters. And for this second part, consider posting an ad on Kodur! Our content creators are ready to help.