Demand Generation is a concept that has gone through transformations over the last decade as technology has grown and changed. We can expect that it will have massive changes going into the next decade with modern-day digital advances.
Modern marketing offers a few terms that can be misinterpreted as much as ‘demand generation’ because most within the marketing world mix up generating leads with generating demand.
What Is Demand Generation?
To comprehend what demand generation technique to incorporate in 2020, it will be essential to understand precisely what it is. Arguably, any form of marketing could be deemed as playing a part in generating demand.
Demand generation is the direct precursor to a deal being made; it’s the business side of the entire process. This is where you recognize prospects who will most likely benefit from your particular product or service, convince them that they need it, and then go about convincing them that yours is going to be the one that will benefit them.
Balancing both demand generation in combination with lead generation is a process where you’re able to distinguish people who know enough about your brand to see the value and are willing to share their details to become leads fully. Then some don’t know anything about the brand and are unable to see the value.
The first group who understands the value would be the ones who would focus on lead generation techniques, while the naysayers would need the full-on demand generation. Each of these processes take different approaches with their content and targets to fit the varying purchasing stages of the consumer’s journey.
Incorporating Demand Generation Techniques Into Your Business
Direct response marketing no longer fully encompasses what demand generation is. Demand Generation entails much more than merely generating leads. Demand generation, as defined today, can embody a program that builds brand awareness within an audience that has already been recognized as having an interest in the services and products being offered.
When demand generation marketers have made a brand equity investment, they have a robust and measurable itinerary lined out to turn the equity into their leads and then sales and, finally, revenues. The demand generation’s defining difference in the various stages of the funnel is its contribution to sales, which gives it an indisputable strength.
There are a variety of different things that you can do to incorporate a demand generation strategy into your company to take your business into a prosperous new year. Each business is unique in its brand, and what they have to offer their audience and the techniques that you employ should be specific to your audience and the goals you see for yourself.
Take the steps in varying different combinations until you’ve customized your demand generation strategy that gives you an edge over the competition.
Focus On What Your Audience Needs
With any successful marketing campaign, the first step is to know exactly what the audience requires. Beginning this process with a consumer profile of what the ideal audience looks like is one way to start.
A focus should be placed on socioeconomic status, demographics, psychographics, as well as branch affinity. Build the consumer pain points into the profile, which will guide you throughout the creation of your content. Feedback in reviews will allow you to find things in common among the audience. It’s essential to interact with the audience through the reviews, read, react, reply.
After the consumer needs have been determined, the content can be created with an effort given to add value to the audience. In the age of technology, this is going to include social media, websites, video massively.
The audience doesn’t want content that speaks to them in sales talk, so you need to have a level of salesmanship that doesn’t sound like it. A Value-add is more about building trust and authority with the person who is reading it.
Free Resource Or Tool
To take the value-add up a level, offer a free tool to the audience. This could be something such as URL shorteners, percentage calculators, hashtag generators, anything that will get the consumer on your website.
Once there, other links can be provided to take them throughout other pieces of content with the ultimate goal leading them through to the point of contacting the company. The free tool should be relevant to your paid services.
Invest In Content
‘Content is king,’ and this has been said a million times. Doing it properly can be a challenge. The companies that invest in content marketing strategies are seeing success. With this, there is a priority placed on creating, producing, and distributing original content.
The primary focus is to drum up interest in the product or the service offered by the company as opposed to advertising the brand. That distinction allows content marketing to be the ideal addition to a demand generation strategy. It boosts demand generation by:
- Creating shareable social conversations
- Bringing organic traffic to the website
- Building preference and loyalty
- Increasing awareness for the brand
The purpose behind demand generation is brand awareness and optimally transforming strangers into consumers. Using buyer intent data allows you to track the online activity of your audience, including B2B and B2C, for you to know where they may be in the funnel.
User intent helps you to stay informed, allowing for you to keep the consumers’ attention better, let you know how close they are to buying, and lets you see if they’ve approached competition. Hard data can increase sales and help prove ROI of the strategy of your demand generation.
Consumers may lack trust in brands, but they trust each other. Influencers and brand ambassadors are becoming the online authorities as to which brands should be trusted and which should be ignored. Over half of social media users follow an influencer, and many of that group discovered a brand simply based on a post by an influencer. People trust other regular people more so than they trust a company that is promoting itself. They relate more and find it more authentic.
Staying on top of the audience’s mind is fierce in the world of competition. With these steps leading you into 2020, you should be ready to rejuvenate your demand generation strategy and move your team up to the next level.
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